The total number of Terra Classic (LUNC) tokens deployed on the network reaches over 900 billion as utility slowly returns to the blockchain. After much effort from the Terra Classic community and developer groups, LUNC’s stakes have increased with projects building on the chain and investors betting with validators.

Neblio blockchain platform in one tweet announced the launch of a new Neblio mobile wallet on January 19. It will have NEBL staking support and cross-staking campaigns. It allows users to earn NEBL by staking $LUNC and get LUNC by turning off NEBL.

While the Terra Classic community is positive about the development, the association with Terra Rebels kept the community from becoming interested in using or betting on the Neblio mobile wallet.

The Terra Classic community reminded Terra Rebels that they were returning $150,000 in community funds that had been embezzled by some members. Notable developers such as Edward Kim, Tobias “Zaradar” Anderson, and Duncan left the developer group Terra Rebels group. Other members were removed from the group and the money was split among just 12 members.

This caused massive drops in LUNC prices and LUNC tokens staked. The total LUNC deployed fell from more than 900 billion to 850 billion in December. On January 19, the LUNC supply ratio rose again by more than 13% and the total number of LUNC tokens deployed reached almost 900 billion.

The reopening of the IBC channels also brings utility back into the Terra Classic chain, with a number of projects building on the blockchain. In addition, LUNC is supported on TFL’s new multi-blockchain Interchain Station.

Also Read: FTX CEO John J. Ray III Plans To Reboot Failed Crypto Exchange

LUNC Price Increases 10%

The price of Terra Classic (LUNC) is up almost 10% in the past 24 hours with the price currently trading at $0.0001755. The 24-hour low and high are $0.000158 and $0.0001773, respectively. Meanwhile, trading volume is up 37% in the last 24 hours, indicating a slight interest from traders.

Also Read: Terra Classic (LUNC) Community votes on Edward Kim’s critical proposal

This post Terra Classic (LUNC) stake reaches 900 billion as Utility Returns

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