Terra Classic (LUNC) Trading Up 33.5% This Week

Terra Classic (LUNC) traded 5.6% lower against the U.S. dollar during the 1 day period ending at 0:00 AM E.T. on August 11th. Over the last seven days, Terra Classic has traded up 33.5% against the U.S. dollar. One Terra Classic coin can now be purchased for about $0.0001 or 0.00000000 BTC on popular exchanges. Terra Classic has a total market capitalization of $431.17 million and $54.45 million worth of Terra Classic was traded on exchanges in the last day.

Here is how other cryptocurrencies have performed over the last day:

• TRON (TRX) traded down 0.6% against the dollar and now trades at $0.13 or 0.00000219 BTC.
• Tezos (XTZ) traded 3.7% lower against the dollar and now trades at $0.66 or 0.00001131 BTC.
• aelf (ELF) traded up 8.9% against the dollar and now trades at $0.43 or 0.00000739 BTC.
• Terra (LUNA) traded down 6.2% against the dollar and now trades at $0.33 or 0.00000559 BTC.
• GXChain (GXC) traded 3.7% lower against the dollar and now trades at $0.36 or 0.00000612 BTC.
• Adshares (ADS) traded down 0.5% against the dollar and now trades at $0.23 or 0.00000394 BTC.
• BitShares (BTS) traded 2.7% lower against the dollar and now trades at $0.0020 or 0.00000003 BTC.

Terra Classic Profile

Terra Classic (CRYPTO:LUNC) uses the hashing algorithm. Its genesis date was April 23rd, 2019. Terra Classic’s total supply is 6,794,537,545,225 coins and its circulating supply is 5,440,156,545,328 coins. Terra Classic’s official website is terra.money. Terra Classic’s official Twitter account is @terra_money. The Reddit community for Terra Classic is https://reddit.com/r/terraluna and the currency’s Github account can be viewed here. The official message board for Terra Classic is medium.com/terra-money.

According to CryptoCompare, “After the UST depegging, Terra community voted for governance proposal 1623, and a new chain was created assuming the Terra name. The version represented on this page (the original chain) is still functioning and was re-branded as Terra Classic.The original Cosmos chain still run, with market swaps (mint/burn function) disabled.All balances will remain as they are.Luna became Luna Classic (LUNC).Terra stablecoins (UST, KRT, EUT, etc.) were renamed Terra Classic stablecoins (USTC, KRTC, EUTC, etc.).CryptoCompare has taken the following steps to ensure data for both the new version of LUNA and the original LUNA Classic remained available throughout the process:Initially all data for the new version of LUNA was mapped to a temporary ticker called LUNA2, leaving 'LUNA Classic' data on the LUNA ticker.Once the majority of exchanges completed their intended actions and normal trading has resumed we moved all 'LUNA Classic' data from LUNA to its new ticker LUNC.Finally once all LUNA Classic data was cleared from the LUNA ticker we migrated all new LUNA data (held under LUNA2) back to the intended LUNA ticker.You can read more about the 'Terra revival plan' here.Terra aims to build a new financial infrastructure that works better for everyone. The network is powered by a family of stablecoins, each pegged to major fiat currencies all algorithmically stabilized by Terra’s native token, Luna. Terra’s mission is to set money free by building open financial infrastructure. Luna, as the native staking asset from which the family of Terra stablecoins derives their stability, utility, and value, acts both as collateral for the entire Terra economy and as a staking token that secures the PoS network. Luna can be held and traded like a normal crypto asset, but can also be staked to accrue rewards in the network generated from transaction fees. Luna can also be used to make and vote on governance proposals.The family of Terra stablecoins is designed to achieve stability through consistent mining rewards with a contracting and expanding money supply. For example, if the system has detected that the price of a Terra currency has deviated from its peg, it applies pressure to normalize the price. Currently, the family of Terra stablecoins includes: KRT (Terra stablecoin pegged to Korean Won), UST (Terra stablecoin pegged to US Dollar), MNT (Terra stablecoin pegged to Mongolian Togrog), SDR (Terra stablecoin pegged to IMF SDR), with more being added in the future.”

Buying and Selling Terra Classic

It is usually not presently possible to buy alternative cryptocurrencies such as Terra Classic directly using U.S. dollars. Investors seeking to acquire Terra Classic should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Terra Classic using one of the aforementioned exchanges.

LUNC/USD price chart by TradingView