What is Luna classic (Lunc)?

Luna classic ( LUNC) was originally created to be the first Terra blockchain’s native token under the name LUNA, launched in 2018. Its role was to serve as a twin token to absorb any price deviation of the blockchain’s algorithmic stablecoin, terraUSD ( UST ).

What is Luna (Luna)?

LUNA is a cryptocurrency coin based on the Terra blockchain, which makes it possible to create and exchange digital assets. LUNA is a native token of the Terra blockchain that's used to pay transaction fees and reward other users for participating in the network. LUNA can be used to buy goods and services from businesses that accept such coins.

What happened to Luna crypto?

There are two stories regarding Luna crypto: the TerraUSD/UST stablecoin and the actual Luna coin. Once Luna and UST crashed, there was a total liquidity crunch in the cryptocurrency space that caused an even more catastrophic loss of value. The crypto community still hasn’t recovered.

Why did Ust & Lunc get a new Luna token?

On the same day, some previous UST and LUNC holders received their new LUNA tokens in the first round of token distribution called an airdrop. Many of the big-name cryptocurrency exchanges supported the launch and listed the new token. Trading started with wild price swings in each direction as traders speculated on the future utility of the coin.