The price of Terra Classic (LUNC) is up nearly 3% in recent minutes following news of a major development planned on the network. This comes after Jared, who was recently the liaison for TFL and the LUNC community, claimed that the Terra Classic network will benefit significantly from the new “breakthrough in chain integrations”.

LUNC’s integration in Interchain Station

While speaking about the release of the new station wallet, Jared’s comment sparked widespread interest within the community as the new integration was a long overdue update to the relaunch of the dwindling blockchain. The lead developer further mentioned that the launch was delayed to January 12 due to this development.

Jared was quoted as saying:

For the LUNC community. Stay tuned, the delay is related to an update you’ve been waiting for.

The announcement follows news of multiple integrations currently taking place in the wallet’s repository, including Osmosis, Juno, SEI, Carbon, and another “bonus chain” set to be unveiled later this week. In addition, Jared confirmed that interchain support would be made available within the next 48 hours and that chain integrations would take place in a progressive manner.

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Terra Classic (LUNC) token fire

Jared’s tweets come at a time when the classic chain is constantly facing reports of internal conflict between the developer groups viz. Terra Rebels and the mass undelegation process carried out by exchanges; example of this is the recent delegation of 48 billion LUNC by the KuCoin crypto exchange.

Price of Terra Classic (LUNC) on CoinGape

On the other hand, the Terra Classic community has been actively burning the excess number of tokens in circulation. By 2023, the project and chain plan validators will have burned billions of Terra Classic (LUNC) tokens. Currently, the community has collectively staked about 850 billion LUNC tokens and burned about 37.30 million of the altcoin so far.

As things stand, the price of Terra Classic (LUNC) is currently trading at $0.000167. This represents a 3.1% increase on the day, as opposed to the massive 10.2% gain during the past week, according to CoinGape’s crypto market tracker.

Also Read: Nearly $12 Billion Disappears From Binance’s Assets; What is going on?

Pratik has been a crypto evangelist since 2016 and has experienced almost everything crypto has to offer. Be it the ICO boom, the bear markets of 2018, Bitcoin’s halving so far – he’s seen it all.

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.

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