The crypto market continues to trade partially in red as Binance linking with Bitzlato financial crimes has impacted the market. Some significant coins are increasing in the last 24 hours, however, others are still slightly down.

Terra Classic (LUNC) tokens staked hit 900 billion mark as utility return on the network. LUNC price jumps 10%.

The wallet will enable users to stake and earn rewards in Terra Classic (LUNC).

In the last 24 hours, LUNC DAO, an independent validator on the Terra Classic network burned the largest amount of LUNC in one transaction. The Terra Classic network validator which is the 5th-largest LUNC contributor destroyed a whopping 2,631,901 tokens. 

The Terra Classic community has burned over 16 million LUNC tokens in a week amid the push to increase the burn rate. In order to raise the burn rate, Terra Classic validators and projects aim to burn billions of Terra Classic (LUNC) in 2023. Until now, the Terra Classic community has burned 37.717 billion LUNC tokens.

The biggest single burn in the past 24 hours was initiated by autonomous validator LUNC DAO.

Terra Classic price is building momentum to correct a 3% dip recorded in 24 hours. Before the pullback to 0.0001720, LUNC traded new 2023 highs of $0.0001936. With support at $0.0001720 staying intact, Terra Classic price might push for the resumption of the uptrend during the American session.

Independent Terra Classic development group TerraCVita yesterday released the white paper for its decentralized finance project dubbed Terraport.

According to Zaradar, the proposed ideas could potentially see LUNC attain $1 in two decades’ time.

Terra Classic independent development group TerraCVita has raised an additional $2 million for its proposed decentralized finance project Terraport, which will also include the long-anticipated decentralized exchange (DEX).