What is luna currency? What are the characteristics of luna currency? How to use luna currency?

LUNA coin is the native cryptocurrency of the Terra blockchain and has the following characteristics: stable coins can be minted/destroyed; participates in governance voting; provides mortgage rewards; and implements a burning mechanism to control prices.

What is LUNA Coin?

LUNA Coin is a cryptocurrency and the native token of the Terra blockchain. Terra Blockchain is a platform designed to facilitate the use of stablecoins.

Features of LUNA Coin

• Stablecoin: LUNA Coin can be used to mint and burn stablecoins such as UST (pegged to the US dollar) and KRT (pegged to the Korean won).
• Governance: LUNA holders have Terra blockchain governance rights and can vote on proposals through voting.
• Staking: LUNA can be staked to earn rewards and protect the Terra ecosystem from volatility.
• Burning Mechanism:When UST is minted, LUNA is burned, which helps reduce its supply and control prices.

How LUNA Coin is Used

• Minting and Destroying Stablecoins: LUNA is used to create and destroy Terra’s stablecoins, thereby maintaining their peg to fiat currency.
• Governance: LUNA holders can participate in governance voting and decide on proposals that affect the Terra ecosystem.
• Staking: By staking LUNA, holders can earn rewards while providing security to the network.
• Trading: LUNA can be traded on cryptocurrency exchanges for speculative or investment purposes.

Terra Classic (LUNC) has attracted a lot of attention in the cryptocurrency market, with its price fluctuating widely. As of 19:00 on July 4, 2024, LUNC was quoted at $0.00007312, with a 24-hour trading volume of approximately $28.7 million. LUNC price has experienced a significant drop over the past day, reaching a drop of around 7.28%, but its volatility remains high.

It is worth noting that the current circulating supply of LUNC is approximately 54,702,076,890,450, the maximum supply is unlimited, and the total supply is consistent with the circulating supply. Based on these data, LUNC has a float market capitalization of $399,983,714.42.

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