Can the Terra Rebel update give LUNC investors a reason to rejoice
- Terra Rebel reduced the total number of active members.
- Though development activity rose, social dominance fell.
On 19 December, Twitter user Asobs revealed a major update regarding the Terra Classic [LUNC] ecosystem. The update reveal made LUNC a hot topic of discussion once again.
According to him, Terra Rebels reduced its total number of active members to 12 in order to save the community’s money. The active members will be paid a salary, while inactive members will be hired contractually.
🚨BREAKING NEWS🚨@TerraRebels has cut down to 12 active members in an effort to save the $LUNC community money! 🚀
The active members will be paid a salary.
The inactive will be contracted based on the project.
This is massive for the #LUNC holders! 🤝 pic.twitter.com/wb0iMbrQ3W
— Asobs (@Asobs_CNG) December 19, 2022
Read Terra Classic’s [LUNC] Price Prediction 2023-24
How was LUNC affected?
Corresponding to this revelation, LUNC’s price took a massive blow over the last seven days until press time, thanks to the current condition of the bear market.
According to CoinMarketCap, LUNC registered negative 20% weekly gains. Furthermore, at press time, LUNC was trading at $0.0001347 with a market capitalization of over $806 million.
Santiment’s chart revealed quite a few interesting metrics as well, which shed some light on how the aforementioned developments affected LUNC. For instance, despite the reduction in the number of active members, LUNC’s development activity went up sharply over the last week.
This was a positive development for the ecosystem. LUNC’s recent burn rate also looked quite promising, as over 36 billion tokens have been burned thus far. This accounted for over 0.5% of the total supply.
$LUNC Burn update #LUNC #Luncburn #LunaClasssicHQ #LUNACLASSIC pic.twitter.com/ODyLHLOmCQ
— LunaClassic HQ 🌕 ™ (@LunaClassicHQ) December 19, 2022
However, the good news ended here. This was because other metrics suggested that the scenario was not as good as it seemed on the surface.
For instance, LUNC failed to remain popular in the crypto community as its social dominance reduced. Not only that, but the recent price decline was accompanied by high volume, which legitimized the plummet.
Can the rebels keep Terra Classic’s future secure
Terra Rebels is a decentralized group that came together organically with the purpose of reviving the Terra Classic ecosystem. A look at Terra Rebel’s roadmap revealed several projects in the pipeline.
Most of these projects will be launched in 2023. These include testing, validation, and security audit of the LUNC chain upgrade and several more. However, the reduced number of active members might have a negative impact on this roadmap and cause delays.