The current crypto winter already claims the title of the most severe in history. This time, everyone involved in cryptocurrencies, including the creators of crypto projects, suffered to one degree or another. The biggest event of the outgoing year was the story of the collapse of Terraform Labs. And yet, on the ruins of previous success, a new project and a new token LUNA Classic (LUNC) arose. Is it worth your attention and does it make sense to buy LUNC?
The introduction of cryptocurrencies and the Terra project
As you know, cryptocurrency assets are very volatile. This helps attract new investors, but at the same time hinders the spread of cryptocurrencies as a means of payment. Merchants are not very interested in receiving payments in a currency that can lose 10-20% in price per day. Potential buyers would also not particularly like to part with an asset that can rise in price by the same 10-20% in the same day.
Terra is a fiat-pegged stablecoin project that combines the benefits of exchange rate stability with the fast, affordable settlements and censorship resistance of cryptocurrencies.
Terraform Labs recognized that a stable cryptocurrency exchange rate is a necessary but not sufficient condition for its distribution. The elastic monetary policy was complemented by an efficient fiscal spending regime based on the Terra Treasury.
Rise, fall and rebirth of LUNA
LUNA is the native token of the Terra network, the centerpiece of the network and the entire ecosystem. It is designed to ensure the stability of the stablecoin exchange rate, network management and staking. The first algorithmic stablecoin, UST, quickly became very popular and at its peak reached the 3rd place in the ranking of the most capitalized cryptocurrencies.
However, the sudden popularity and exorbitantly increased rate of the Moon played their fatal role. On May 8, 2022, the UST lost its peg to the dollar. By May 21, LUNA was already trading at $0.0001, and UST was trading at $0.05 per stablecoin. It was a strong blow to the entire cryptocurrency market.
The further fate of the project was taken into their own hands by its impoverished enthusiasts. As a result of voting, the LUNA token was named Terra Classic and the stock ticker LUNC. All old coins were called classic, and the new LUNA switched to the Terra 2.0 blockchain. The very controversial project Terra Classic LUNC entered the market, which is not devoid of perspective.
The original project was quite mature and the success of the new coin is largely due to the echoes of its former glory.
Where to buy LUNC
The coin is traded on dozens of centralized and decentralized cryptocurrency exchanges. Many experts believe that it is likely to become a typical junk asset. At the same time, this does not exclude the possibility of making a profit in the long term or in intraday trading.
The Binance centralized exchange is the leader in terms of trading volume and liquidity, and this gives reason to consider the platform one of the best places to buy LUNC. The coin is traded in pairs with USDT and BUSD stablecoins. If your interests are not limited to buying LUNC, over 300 cryptocurrencies and over 1400 trading pairs are supported on Binance. Users have access to spot, margin and futures trading, staking and other ways to make money on digital assets.
The exchange commission is up to 0.1% of the transaction volume, but decreases when buying a BNB coin or with a large trading volume. However, no action on Binance is possible without account verification.
In the decentralized exchange segment, PancakeSwap occupies the leading place in terms of trading volumes of LUNC. The platform runs on the BNB Chain blockchain. It provides products for trading perpetual contracts, supports limit orders. More than 3400 cryptocurrencies and more than 3800 trading pairs are available for trading. In addition, you can earn on farming, win with the help of lotteries and predictions, buy and sell NFTs. Registration of an account on decentralized exchanges is not required
The easiest way to buy LUNC is to go to the LetsExchange platform and use the exchange widget. The platform supports more than 2000 coins and it is possible to exchange any cryptocurrency here. You do not need to search for sites where it is possible to buy BLCT with LAK, compare trading conditions and perform additional actions that may be required. This part of the work will be automatically performed by the system. Your task is to correctly fill in all the required fields of the widget and confirm the exchange request.