LUNC was trading up 5.73% at $0.000137
The price of Terra Classic (LUNC) suddenly jumped almost 7% after the news of the completion of its second round of airdrop distribution to Terra Classic (LUNC) and Terra Classic USD (USTC) holders.
LUNC rebounded from prior-day lows of $0.00012 and reached intraday highs of $0.0001413 on Dec. 22. At the time of publication, LUNC was trading up 5.73% at $0.000137.
In a website announcement, crypto exchange Binance said it has completed its second round of distribution of Terra (LUNA) to eligible users holding Terra Classic (LUNC) and Terra Classic USD (USTC) during the snapshot.
Binance said it will distribute the remaining Terra (LUNA) in December 2022 or June 2023, as the case may be, according to the distribution plan.
The crypto exchange said that the remaining distribution will take place over the next 24-48 months. In May, the old Terra Network was renamed the Terra Classic Network as the new Terra Chain was born.
Terra Classic shuttle bridge to Sunset
According to an official announcement by the Terra Classic Twitter handle, the Terra Classic Shuttle bridge will ride off into the sunset on Jan. 31, 2023. It urges users to bridge assets back to Terra before this date to ensure funds are not lost.
According to the announcement, this does not affect assets transferred with Wormhole or IBC. It notes that bridging via Portal Bridge (wormhole) and IBC will remain available on Terra Bridge Classic until May 30, 2023, at which point the Terra Bridge Classic interface will be sunset.
The shuttle was pivotal in allowing for the bridging of assets to Ethereum, BSC and Harmony before other bridging options became available.
