Terra Classic (LUNC), initially known as LUNA and connected with the algorithmic stablecoin TerraUSD (UST), experienced a rebranding after a major price drop. Established in January 2018, Terra aimed to foster the widespread adoption of cryptocurrencies, supported by leading e-commerce companies in Asia. Terra’s unique payment system simplified traditional value chains into a single blockchain layer, enabling cost-effective transactions and broad use cases.
What is Terra Classic (LUNC)?
Originally called LUNA, Terra Luna Classic was linked with TerraUSD (UST), an algorithmic stablecoin that maintained stability through an elastic supply mechanism facilitated by LUNA. This mechanism adjusted LUNA supply based on UST demand. However, a drastic price drop in LUNA led to UST losing its peg to the US dollar, causing both tokens’ prices to plummet. Consequently, the ecosystem introduced a new token, Terra Luna, and rebranded the original as Terra Luna Classic.
Launched in January 2018, Terra aimed to popularize cryptocurrencies by creating stable digital assets pegged to major fiat currencies. With the support of Terra Alliance—a consortium of 15 major Asian e-commerce firms serving 45 million users and handling $25 billion in annual transactions—Terra sought to leverage a vast payment network to scale a blockchain payment system. This system aimed to develop more robust products and use cases.
How to Buy Terra Classic (LUNC) with TRY?
For Turkish investors interested in buying Terra Classic (LUNC), Binance TR is the most suitable cryptocurrency exchange. Binance TR offers trading for over 100 cryptocurrencies, including LUNC, and allows quick account creation. To purchase Terra Classic (LUNC) with TRY on Binance TR, follow these steps.
Steps for Terra Classic Investment
– Visit trbinance.com and create an account by entering your basic details.
– Complete email/SMS verification to confirm your information.
– Proceed to identity verification (KYC) via your phone or the Binance TR website.
– Deposit TL into your Binance TR account using various banking options.
– Navigate to the “Buy-Sell” option and select LUNC/TRY to purchase LUNC with TL.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange by trading volume, launched Binance TR for Turkish investors in 2020. Based in Istanbul, Binance TR provides trading services from fiat to cryptocurrency and vice versa, utilizing Binance’s technology, security measures, and liquidity. Turkish users can easily deposit and withdraw Turkish Lira (TRY) via direct bank channels and trade various cryptocurrencies with TRY trading pairs.
Supported by Binance TR, users access market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls, all backed by Binance’s core functions.