The narrative is everywhere: "$LUNC once hit $119... it'll go back!"
It's time for a reality check—and a key piece of information you need to understand the true potential of Terra Classic.
🚨 The $119 Truth: LUNA \neq LUNC
The coin that reached the legendary $119 All-Time High was the old $LUNA.
The World Before the Crash:
Token Supply: A manageable \sim350 Million (making high prices possible).
Ecosystem: UST stablecoin was pegged and the ecosystem was thriving.
The Catastrophe: The UST stablecoin de-pegged, triggering an algorithmic panic that resulted in the minting of trillions of new tokens to try and save the system, which ultimately led to the chain's collapse.
The Aftermath:
LUNC (Terra Classic): The original, hyper-inflated, and largely defunct chain.
Real ATH: \sim\$0.00059 (Its highest price after the crash, not $119).
Current Supply: \sim5.5 Trillion (T for Trillion! Massive supply inflation).
LUNA (New Chain): A completely new chain launched post-crash, with a new tokenomics.
🚀 The $1 or $119 Dream: The Market Cap Hurdle
Why can't LUNC just 'get back to its old price'? The answer is in the numbers.
Price Target Circulating Supply (Approx.) Market Cap Calculation Resulting Market Cap Status
$1 \sim 5.5 Trillion 5,500,000,000,000 \times \$1 \$5.5 Trillion Unrealistic (>5.5 Trillion is \sim5x the current entire crypto market).
\$119 \sim 5.5 Trillion 5,500,000,000,000 \times \$119 \$654.5 Trillion Impossible
Current Price \sim 5.5 Trillion
To reach $1, the current circulating supply would need a market capitalization that is multiple times the total value of all cryptocurrencies combined today.
✨ The ONE Critical Factor: LUNC Burns & Binance's Role
If a price revival is to happen, the massive circulating supply (\sim5.5 Trillion) must be drastically reduced. This is where the community's relentless effort, and specifically Binance's commitment, is absolutely crucial and needs more attention.
What to Watch: The Deflationary Engine
Binance's Quarterly Burn: Binance is the single largest contributor to the LUNC burn. The exchange collects all trading fees from LUNC spot and margin pairs and sends them to the dead address. Their consistent, massive burns are the main force attempting to reduce the \sim5.5 trillion supply.
On-Chain Tax Burn: The Terra Classic community implemented a transaction tax (currently 0.5\%) on all on-chain transactions, which is also burned.
Community Staking: Over 1 trillion LUNC is currently staked, removing it from the tradable circulating supply and supporting network security.
