The Terra Classic chain has seen significant whale activity, with a massive transfer of 106 billion LUNC tokens recently making headlines. This transaction, reported by TerraNewsEN, resulted in the burning of 425 million LUNC tokens, contributing to the ongoing effort to reduce the circulating supply of Luna Classic (LUNC). The burn mechanism, driven by a 0.5% transaction tax, aims to address the hyperinflated supply following the 2022 Terra ecosystem collapse.
All 106 billion LUNC tokens from this transfer were staked with the “AutoStake Slash Protected” validator, pushing the total staked LUNC on the Terra Classic chain to an impressive 962 billion. This staking surge, as noted by community member @nuenghandsome, has elevated AutoStake to the second-largest validator, enhancing the chain’s decentralization by lowering the Nakamoto coefficient to 4. The increased staking reflects growing confidence in the network’s revival efforts, led by the Terra Classic community and validators.
Despite these developments, LUNC’s price remains volatile, trading at approximately $0.00005861 as of August 11, 2025, according to lunc.tech. The burn of over 414 billion LUNC tokens since May 2022, combined with community-driven initiatives and Binance’s regular burns, has reduced the circulating supply to 5.6 trillion. However, market dynamics and broader crypto sentiment continue to challenge price stability.
The Terra Classic community remains optimistic, with ongoing burns and staking activities signaling a commitment to long-term value creation. Investors are advised to stay cautious due to the market’s unpredictability, but these milestones highlight the chain’s potential for recovery and growth.