- Terra network will be joining a list of other blockchains including Osmosis, Juno, and SEI, among others to steer forward the Web3 industry.
- The Terra LUNC network takes pride in a market capitalization of approximately $981,178,831 and a 24-hour traded volume of about $97,623,378.
The Tera Classic (LUNC) has received a huge boost following a successful integration with Interchain Station. According to Terraform Labs lead developer Jared via his official Twitter account, the rebranded Terra network will be joining a list of other blockchains including Osmosis, Juno, and SEI, among others to steer forward the Web3 industry.
Jared added that more chains will be joining the Interchain Station to enable seamless communication between different blockchains at all times. Moreover, the lead developer indicated a support team for the Interchain Station will be underway in the next few days.
The announcement, however, did not have a positive impact on LUNC price on Wednesday. According to market data provided by Coingecko, LUNC’s price is down approximately 2.6 percent in the past 24 hours to trade around $0.00016310.
We are launching interchain support roughly 48hrs from this tweet.
After this initial launch, chain integrations will be on a rolling basis.— Jared_TFL (@Jared_TFL) January 10, 2023
However, the impact of Interchain Station is expected to be long-term on LUNC price. Moreover, DeFi developers will access oracle data from different chains via the Interchain Station with ease.
Notably, the TFL Interchain integration was expected to be unveiled on January 12 following technical delays. However, Jared surprised the LUNC community with the Interchain Station integration today.
We are going to push back station launch 2 days.
New date: January 12, 2023
We made a breakthrough in chain integrations, and will have a stronger launch. Team is working feverishly.— Jared_TFL (@Jared_TFL) January 10, 2023
Following a successful integration, the Terra Luna community believes the global crypto community will have a different view following last year’s UST implosion.
Moreover, the Terra LUNC network takes pride in a market capitalization of approximately $981,178,831 and a 24-hour traded volume of about $97,623,378.
Closer Look at Terra LUNC and Crypto Market Outlook
The Terra LUNC rebranded to steer forward the Web3 industry through a decentralized ecosystem supported by a vibrant online community. Worth noting that the Terra Twitter network has over 1 million followers. Additionally, the LUNC coin is listed on major exchanges including Binance, DigiFinex, and TokoCrypto. Nonetheless, the rebranded LUNC has a long way before regaining its predecessor’s ATH of $119.18.
The Terra blockchain received a major blow at the beginning of this year when crypto exchange KuCoin announced that it will undelegate 48 billion LUNC. The exchange noted:
KuCoin validator undelegated 48b $LUNC because the pledge node of the internal financial account switched. Rest assured that users’ assets are safe. We will continue the pledge after the 14-day lock period. This is a normal node switch,
In a bid to stir up on chain activity, the Terra ecosystem has been conducting token burns. For instance, the LUNC nodes burned over 100k LUNC on New Year’s Eve.
123,755,691 $LUNC were burnt earlier today by #Allnodes. https://t.co/wxRPeGKjc9 pic.twitter.com/ndBgbyf8kW
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— Allnodes (@Allnodes) January 1, 2023
