Terra Classic Move From Cryptocurrency Exchange

Terra Classic influencer and YouTuber ClassCrypto revealed in a tweet on December 30 that validator KuCoin has undelegated all 48 billion LUNC tokens. KuCoin currently ranks 44th on the validator list and has a voting power of 0.21%.

However, KuCoin has not released an announcement regarding any undelegate event. Also, KuCoin has not yet completed the second round of Terra (LUNC) airdrop to LUNC and USTC holders.

FUD is rising again in the Terra Classic community, as the cause remains unclear. Some even withdraw their LUNC tokens and transfer them to Binance. Some in the LUNC community think the exchange may burn LUNC tokens, while others believe it could be part of a restructuring of funds.

Meanwhile, proposal 11168 by LUNC core developers Edward Kim and Tobias “Zaradar” is in the voting stage. LUNC will form a “Joint L1 Task Force” team that will review support updates and L1 layer enhancements on the blockchain.