Breaking: KuCoin Undelegates 48 Billion Terra Classic (LUNC), Dump Incoming?

KuCoin, a crypto exchange, has delegated all 48 million Terra Classic (LUNC), tokens. KuCoin, the Terra Classic validator, has lowered its voting power to 0.21% and is now ranked 44th on our validator list. Terra Classic believes that a dump is likely to follow and that the LUNC price may fall further.
KuCoin Undelegated All Terra Classic Tokens (LUNC).
In a tweet, ClassCrypto, a Terra Classic influencer and YouTuber, revealed that validator KuCoin had undelegated all 48 million LUNC tokens. KuCoin is now at 44 on the validator list, and has a voting strength of 0.21%.


Although no further details are available about the cause of the large amount of LUNC undelegated, the community believes that a dump could be imminent. Some believe the exchange may burn the LUNC tokens.
KuCoin did not make any announcements regarding undelegation events. It’s most likely part the centralized exchange fund restructure. KuCoin is still waiting to complete the second round Terra (LUNC), airdrop to LUNC holders and USTC holders.

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As the reason for the FUD in Terra Classic is still unknown, it is now again on the rise. Some people are even withdrawing their LUNC tokens and transferring them to Binance.
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Proposal 11168, by Terra Classic core developers Edward Kim & Tobias “Zaradar”, is currently being voted. It will create a “Joint L1 Task Force”, which will examine maintenance upgrades and L1 layer development on the Classic blockchain.
After this week’s massive rally, LUNC price falls


Terra Classic (LUNC), price rose nearly 50% in the past few days because it broke above the 3-month descending channel. Nevertheless, the LUNC price fell below $0.00015 due to a market selloff and Binance temporarily suspending LUNC burning.
Currently, the LUNC price trades at $0.000165. The current LUNC price is $0.0001518 and $0.0001454 respectively.
Also read: Shiba Inu’s (SHIB), Price Rises 5%, Are Whales Buying in Shibarium Speculation?

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