Terra Classic Beats Bitcoin In Binance Community Contest

Terra Classic Beats Bitcoin In Binance Community Contest

Altcoins

Terra Classic (LUNC) achieved the feat after recording 36,000 hashtag mentions.

Members of the Terra Classic community have continued to throw their weight behind LUNC project. The world’s largest cryptocurrency exchange Binance recently announced LUNC as the winner of its Community Showdown contest.

Binance launched the Community Showdown contest to determine which cryptocurrency project has the most support on Twitter. The leading cryptocurrency exchange urged various cryptocurrency communities to participate in the contest by posting, commenting or retweeting the Binance hashtag alongside their favorite crypto ticker.

After the contest ran for a few weeks, Binance released a list of the top cryptocurrency projects with the most support on Twitter. Interestingly, #BinanceLUNC was declared the contest winner after recording a total hashtag mention of 36,000.

“A few weeks ago we invited crypto communities to show their strength in support of their favorite projects, and the support was impressive! Now, let’s meet the top 3 projects, voted by you. #BinanceLUNC finished 1st with 36,000 hashtag mentions!” Binance said in an announcement.

A few weeks ago we invited crypto communities to show their strength in support of their favorite projects, and the support was impressive!

Now, let’s meet the top 3 projects, voted by you. #BinanceLUNC finished 1st with 36,000 hashtag mentions! pic.twitter.com/ebTI3XCtEJ

— Binance (@binance) November 22, 2022

LUNC Beats Bitcoin and eCash in the Contest

Furthermore, Bitcoin (#BinanceBTC) ranked second with a total mention of 17,600, while eCash (#BinanceXEC) came third after recording 6,900 mentions.

It is worth noting that LUNC achieved the feat less than a month after it was ranked second behind Bitcoin in the same contest. At the time, Bitcoin was in the first position with 12,800 mentions, while LUNC was ranked second with 3,500 mentions.

LUNC Community Support

The development shows how supportive Terra Classic members are toward the blockchain project. Recall that Terra Classic transitioned to a community-driven network after the cryptocurrency suffered a devastating collapse in May.

Since the incident, Terra Classic community members have jointly sought ways to revive the project. The recently-concluded Binance contest could boost LUNC’s mainstream adoption, based on the number of mentions the cryptocurrency received in the poll.

In the past weeks, LUNC volume skyrocketed, which saw the cryptocurrency ranked among the top 10 KuCoin and Binance coins with the highest volume. A surge in the asset’s volume suggests that more LUNC tokens will be incinerated in the ongoing campaign to reduce the coin’s circulating supply.

According to @LunaBurn_13, a Twitter handle tracking Terra Classic burns, 28.36B LUNC tokens have been incinerated. The community has also staked 893.05 billion tokens, thus bringing LUNC’s circulating supply to around 5.98 billion.

🔥Total burned $Lunc: 28.36b🔥Burned 24hrs 0.2% burn tax: 66.1m

T/S: 6,879,472,729,877C/S: 5,986,418,918,268M/C: $987,040,751Vol24h: $143,019,060$Lunc Staking

bonded: 893,053,811,609unbonded: 35,532,774,267% t/s: 12.98% 🔐#Lunc #LUNCcommunity #luncburn #lunaclassic

— LUNC Burn  (@LunaBurn_13) November 23, 2022

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