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Terra Classic price prediction as 5 Billion LUNC removed from staking

Some community alerts were given on August 28, related to Terra Classic (LUNC), as investors saw 5 billion LUNC being unstacked. Raising concerns that such a massive amount of tokens could have negative effects on the price. Although a seemingly high value, if measured in the Terra Classic token, the 5 billion accrues for only 0.1% of the circulating supply of 5.86 trillion LUNC. One of the highest circulating supplies among all other cryptocurrencies. Terra Classic, formerly Terra, went through a major crisis in 2022 with the collapse of the LUNC (formerly LUNA) based stablecoin, UST. Currently, Terra Classic has around $1.57 million in total value locked (TVL) on DeFi.

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