Terra Classic (LUNC) ranks ahead of BNB and CAKE in the new Binance survey.
Terra Classic is ranked among the most supported cryptocurrency projects on Twitter. According to an ongoing survey created by Binance, the crypto community was asked to disclose their favorite cryptocurrency project.
Participants must post, comment, or retweet the Binance hashtag alongside their favorite cryptocurrency project’s ticker. The rationale behind the survey is to determine which cryptocurrency has the most support on Twitter.
From the results, LUNC is currently ranked as the second cryptocurrency with the most support on Twitter. Per data published by Binance, LUNC currently has a total vote of 3.5k, putting the cryptocurrency ahead of Binance Coin (BNB), PancakeSwap (CAKE), eCash (XEC), and Galxe (GAL). However, Bitcoin ranked in the top spot after recording a total vote of 12.8k.
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We recently challenged you, the community, to share your favourite project's hashtag to see which cryptos have the most support on Twitter.
Post, comment or retweet #Binance + your project's ticker to join!
Top 6 leaderboard so far ? pic.twitter.com/p4wwxChj66
— Binance (@binance) October 26, 2022
Following the collapse of the Terra ecosystem in May, LUNC transitioned into a community-driven project. Holders of LUNC have shown support for the coin on various social media platforms to lure more people into adopting the cryptocurrency.
Earlier this week, David Gokhshtein, the founder of Gokhshtein Media, knocked Terra Classic investors for making the cryptocurrency trend on Twitter for no reason. Gokhshtein said he was tempted to buy the cryptocurrency after seeing it trend on the microblogging platform. However, he stopped at the last minute. To counter Gokhshtein, Terra Rebels replied that they were working on something massive.
Victims of Terra’s crash have sought ways to revive the cryptocurrency from the dust. For LUNC holders, the best way to boost the token’s value is to reduce the token’s total supply via burns. A total of 24.16 billion LUNC worth around $5.95 million have been incinerated from the Terra Classic total supply.
It is worth noting that Binance has played an integral role in the ongoing LUNC burn. The exchange has supported the community’s efforts to revive cryptocurrency. Last month, Binance implemented a mechanism to collect and burn all fees obtained via LUNC trading activities. So far, the exchange has burnt over 12.2 billion LUNC through the initiative.
In recent developments, TerraCVita member hints at developing a Terra Classic DEX soon. Also, The LUNC Chain is one step closer to full Cosmos interoperability as developers reveal code to Re-Open IBC on Terra Classic.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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