Capitalization of Terra Classic exceeded $1,000,000,000

Over the past week, Terra Classic has seen a 25% weekly increase. Thus, the capitalization of this coin returned to $1,000,000,000. The last time Terra Classic had a total capitalization of $1,000,000,000 was on December 14th.

It is noteworthy that the price of the token began to show strong growth from December 25 at 21:00 UTC +0. Then the cost of one LUNC was $0.00014. At the time of writing, the Terra Classic token is valued at $0.00018, up 28% from two days prior.

The reason for the increase in the cost of Terra Classic is associated with proposal 11168 (Joint L1 Task Force). Ed Kim, Ph.D. in Computer Science, has put forward a new plan that would benefit from moving half of the Terra Classic blockchain user profiles to the developer pool.

In this regard, the community has acquired an optimistic mood and investors have begun to invest more money in Terra Classic. Another reason why LUNA received an increase in value is the increased burning of Terra Classic tokens. It is noteworthy that various exchanges, including Binance, have begun burning Terra Classic tokens, which are obtained from fees for trading on derivatives instruments, whether it is spot trading or margin trading.

It is worth noting that the article is about the same Terra Luna, which crashed in May 2022 and deprived many investors from all over the world with huge losses. Later, a new smart contract was created, which can be called the restart of Terra Luna. The token is also distributed under the subtitle v2. The value of such a restarted coin is $1.43, while LUNC is valued at $0.00018.

On April 6, Terra Luna reached its all-time high and one token was valued at $116. After that, investors began to actively take profits and the value of the coin dropped. On May 6, 1 LUNC token had a price tag of $82.55. A week later, the token was worth $0.0004.