Terra Classic (LUNC) Achieves Self Reported Market Capitalization of $431.36 Million

Terra Classic (LUNC) traded 11.6% higher against the U.S. dollar during the 1 day period ending at 12:00 PM ET on August 11th. One Terra Classic coin can now be purchased for approximately $0.0001 or 0.00000000 BTC on major cryptocurrency exchanges. Terra Classic has a total market cap of $431.36 million and approximately $121.71 million worth of Terra Classic was traded on exchanges in the last day. During the last seven days, Terra Classic has traded up 17.7% against the U.S. dollar.

Here is how similar cryptocurrencies have performed during the last day:

• TRON (TRX) traded 0.8% lower against the dollar and now trades at $0.13 or 0.00000213 BTC.
• Tezos (XTZ) traded 2.3% lower against the dollar and now trades at $0.67 or 0.00001113 BTC.
• aelf (ELF) traded up 1.9% against the dollar and now trades at $0.41 or 0.00000687 BTC.
• Terra (LUNA) traded 2.3% higher against the dollar and now trades at $0.34 or 0.00000558 BTC.
• GXChain (GXC) traded up 2.2% against the dollar and now trades at $0.38 or 0.00000629 BTC.
• Adshares (ADS) traded 0.4% lower against the dollar and now trades at $0.23 or 0.00000384 BTC.
• BitShares (BTS) traded up 2.3% against the dollar and now trades at $0.0020 or 0.00000003 BTC.

Terra Classic Profile

Terra Classic (CRYPTO:LUNC) uses the hashing algorithm. It launched on April 23rd, 2019. Terra Classic’s total supply is 6,794,537,545,225 coins and its circulating supply is 5,440,458,541,581 coins. The official website for Terra Classic 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. Terra Classic’s official Twitter account is @terra_money. Terra Classic’s official message board 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 currently possible to purchase alternative cryptocurrencies such as Terra Classic directly using US dollars. Investors seeking to trade Terra Classic should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Terra Classic using one of the exchanges listed above.

LUNC/USD price chart by TradingView