Terra Classic (LUNC) climbs to the top of the list of top-gaining assets on CoinMarketCap, rallying nearly 7% in a 24-hour time frame to a high of $0.0001322 before facing a roadblock. LUNC has continued to show strength on its journey to reclaim the February high above $0.0002. Despite facing stern opposition from bears, the asset retains a position among the top gainers, securing third, with a 3% gain in the past 24 hours. LUNC's trade volume has also seen a rapid increase in the past few hours, indicating a massive flow of demand into LUNC by investors. The Terraport project aims to bring more burns and utility to LUNC, while Cremation Coin recently announced a new innovative NFT initiative that could help burn more LUNC. Terra Classic is currently trading for $0.0001255 at the time of reporting, tilling the ground for a rally to the much-coveted $0.0002 territory, which was last reclaimed in early February.

Terra Classic influencer Classy Crypto clarified that the ultimate objective of Terraport's TERRA token is not to boost it to $1, but to fuel LUNC burns. Terraport aims to introduce more volume to LUNC and allocate a substantial portion of its Treasury toward burning more Terra Classic tokens. The team stated that 27% of the project's fees would be used to buy back and burn LUNC tokens weekly. Terraport has not yet begun Terra Classic burns, but the team noted that the date for the first burn is not yet fixed, but burns will continue every week once it is determined.

Terra Rebels, a Terra Classic development group, has launched a donate feature on its community-driven platform, Rebel Station, to support the LUNC crypto community pool. The fund is managed by Terra Rebels and provides financial resources to developers, projects, and initiatives to improve the LUNA ecosystem. Rebel Station has integrated the fund feature directly into its platform, making it easy for users to contribute. Positive responses from the LUNC community have already been received. Terra Rebels also aims to offer various tools and services on the Rebel Station, including a decentralized exchange, a wallet, and staking services. Previously, Terra Rebels announced that Rebel Station is now in the pre-production phase and operating independently of Terraform Labs’ infrastructure.

Terra Classic (LUNC), the embattled digital asset that currently works in the path of recovery via the help of its determined community, is among the most viewed digital assets in Europe and Asia, according to data provided by CoinMarketCap, the leading crypto price-tracking platform.

Terra Classic (LUNC) is among the top-viewed crypto assets on CoinMarketCap (CMC) in Europe and Asia, with an 11.4% market share placing it as the fifth most viewed crypto asset by investors in Asia. LUNC is above other notable tokens, including Ethereum, XRP, and Binance Coin. The report also notes that LUNC holds the fifth position among the most viewed cryptocurrencies by European investors, with a substantial 9.88% share of all the views in Europe. Terra Classic is by far the most viewed asset in the Decentralized Finance (DeFi) sector on the platform, accounting for up to 44.20% of all the views accorded to the DeFi sector in Q1 2023. The community-led revitalization plan and the burn campaign that has already incinerated over 52 billion LUNC have been primary drivers of heightened interest in the asset.

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Cremation Coin, a project contributing to the Terra Classic burn initiative, has burned 30.6 million LUNC tokens, bringing its total burns to 326 million. The project now ranks seventh on the list of biggest Terra Classic burners and is just 30 million tokens away from overtaking Allnodes as the sixth largest burner. Cremation Coin's latest burn represents 91% of this week's total Terra Classic burn transaction. LUNC DAO also contributed to the campaign, incinerating 1.57 million tokens. Despite a reduction in burn rate, LUNC DAO has been incinerating millions of tokens occasionally.

Binance is considering the Terra Grants Foundation's application for $5m in funding to support projects on the Terra Classic chain. In a blog post, Terra Grants Foundation Director Edward Kim said the funds would help revive and instil confidence in the decentralised finance industry. Binance has confirmed receipt of the foundation's request, with the funds expected to be distributed in two tranches if the application is successful. Terra Classic, once a leading decentralised finance platform, has struggled with funding development, but Binance has already contributed millions of dollars to the community's burn initiative.

Binance has burned 1.6 billion Terra Classic (LUNC) tokens worth $203,000 on April 1st as part of its ongoing effort to reduce the total supply of the digital asset. This follows the exchange's resumption of LUNC burn after halting in December 2022.

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