Terra Luna Classic’s (LUNC) community has approved a long-discussed proposal on Sunday, immediately resetting the Layer-1’s burning preferences. Indeed, proposal #12223 clearly states that the new on-chain tax rate is updated from 0.5% to 1.5%, with the upgrade going live on August 2, 2026.
What The 300% LUNC Burn Hike Means
Luna Classic Node validator was among the last ones to join the race, as this campaign received hefty backing from the broader crypto enthusiast community with an approval rate of 96.2%, or 2.49 LUNC staked for votes. Yet, this doesn’t affect the relevant trading pairs on major crypto platforms like Binance or KuCoin, so the fee-related Binance burns remain independent.
For most crypto exchange customers, the new 1.5% fee is imposed only when depositing or withdrawing Terra Luna Classic (LUNC) directly between their owned crypto currency wallets. The breakdown of the newly-imposed 1.5% on-chain LUNC burn tax is another key aspect.
Sponsored
Crypto Prediction Markets
18+ · Gambling involves risk. Play responsibly.
Under the existing 80/10/10 split, this means roughly:
- 1.2% LUNC burned in the process
- 0.15% sent to Community Pool
- 0.15% goes to the Oracle Pool
Meanwhile, Terra Luna Classic’s (LUNC) price setup resembles a local double bottom on the 5-minute charts. Judging analyst Gopal’s analysis, the price of LUNC coin is bound between $0.0000496 to $0.0000498, with a clean break above this support zone promising a ride towards $0.0000510, the analyst notes.
Longer Timeframes Suggest Stagnation
Right now, Terra Luna Classic’s (LUNC) price is on the verge of breaking out from that structure, standing right at $0.0000498. However, the magnifying glass is on the bigger time-frames. A 2% uptick on Monday, a day since the 300% LUNC burn proposal went live, is massively overshadowed by stagnant trading volumes & the broader geopolitical uncertainty.
With Bitcoin’s (BTC) price retesting the waters of $62,000 support on Monday afternoon, LUNC’s price could play out in two completely different scenarios. In some cases, LUNC did perform inversely to the major-caps during the bear cycles. On the other hand, Terra Luna Classic (LUNC) fell out of crypto’s TOP 100 by market cap, raising questions about relevance.
Discover DailyCoin’s popular crypto news right now:
Bitget Withdraws From Japan as Crypto Regulation Tightens
Ripple’s XRP Chain Logged 1 Million AI-Agent Payments
DailyCoin’s Vibe Check: Which way are you leaning towards after reading this article?