Wrapped tokens are created through a “burning” and “minting” process. To create a Wrapped LUNA token, the original LUNC token is stored away in a digital vault. Once locked, an equivalent amount of stashed away LUNC tokens can be minted as WLUNC. The Wrapped LUNA Classic was initially known as Wrapped LUNA Token, trading under the ticker WLUNA. After the collapse of the Terra ecosystem and the launch of a new Terra blockchain in May 2022, Wrapped LUNA Token was renamed to Wrapped LUNA Classic, while the name of its ticker changed to WLUNC.

New Cryptocurrency Newest crypto coins and tokens added to CoinCheckup.Popular Cryptocurrencies Trending crypto tokens and coins on CoinCheckup. The market cap of Wrapped LUNA is entirely dependent on the price of its underlying cryptocurrency and how many LUNC tokens have been locked away to mint their wrapped versions on other blockchains. That data is not easily available and is nearly impossible to track. The best guess for WLUNC’s market cap can be made by looking at the circulating supply of Wrapped LUNA Classic and deducing the market cap.

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• Minting and swapping occur until the supply of new UST is sufficient to bring back UST’s peg.

The token page shows information such as price, total supply, holders, transfers and social links. Here is it as well as other useful data about this kind of cryptocurrency. At TheBitTimes.Com, we collect and provide any valuable content on it such as 1 LUNA to USD so that you could make a favorable investment and have a positive result. Wrapped LUNA Token is a decentralized financial payment network that rebuilds the traditional payment stack on the blockchain.

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WLUNA Price

In practice, this means that the bitcoin regrets: how much would $100 be worth today of WLUNC hinges on the security of Ethereum, and other WLUNC-supporting networks. The current price of Wrapped LUNA Token is – it costs to buy 1 WLUNC token. Wrapped LUNA Classic can be created using a cross-chain solution that supports Terra Classic and supported target blockchains.

We can see a symmetrical triangle forming and currently price is at the triangle support. Any data,text or other content on this page is provided as general market information and not as investment advice. The total amount of WLUNC in circulation depends on the number of LUNC holders that are willing to wrap their tokens. As such, the circulating supply of WLUNC is prone to significant volatility. However, its security is entirely dependent on the blockchain it is issued on.

Trending Coins and Tokens

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As of 16 December 2022, there were some optimistic WLUNA price predictions being made by forecasters, including those from DigitalCoinPriceandWalletInvestor.However, price predictions are often wrong. An unofficial LUNC Twitter account shared that 528.8 billion LUNC had been staked since it launched in late August, making up 7.66% of the total supply. However, WLUNA/USD’s price saw a jaw-dropping fall in early May 2022, as UST began depegging and investors started withdrawing their capital from the Terra ecosystem. WLUNA, which had been trading at about $84 at the end of April 2022, fell over 60% to about $30 in the first 10 days of May. It should be noted that WLUNA’s price action is directly correlated to the performance of LUNA classic .

To check Wrapped LUNA Classic’s price live in the fiat currency of your choice, you can use Crypto.com’s converter feature in the top-right corner of this page.

Market capitalization of Wrapped Terra Classic is – and is ranked #N/A on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of LUNC tokens . This is a statistical representation of the maximum market cap, assuming total number of 6.9 Trillion ETH tokens are in circulation today. Prosecutors in South Korea have asked Interpol to issue a red notice for Do Kwon, the founder of the TerraUSD algorithmic stablecoin that caused a cataclysmic crash of the cryptocurrency market in May 2022.

For instance, if the price of 1 TerraUSD is above its $1 US dollar peg, the protocol must compensate by increasing the supply of UST. It mints some of the stablecoin and sells them on the open market. Arbitrageurs can then swap $1 US dollar worth of Luna in exchange for 1 TerraUSD and stand to profit. Minting and swapping occur until the supply of new UST is sufficient to bring back UST’s peg.

What is the current price of the Wrapped LUNA Classic? How much does it cost to buy 1 WLUNC?

Likewise, should the price of 1 TerraUSD drop below its $1 US dollar target, the protocol will decrease the supply of the stablecoin. Profit seekers can then exchange 1 UST for $1 US dollar worth of Luna and pocket the difference. In both cases, the Terra protocol prints as much stablecoin or Luna as necessary until the peg for each asset is satisfied.

Terra is a decentralized financial payment network that rebuilds the traditional payment stack on the blockchain. It utilizes a basket of fiat-pegged stablecoins, algorithmically stabilized by its reserve currency Luna, to facilitate programmable payments and open financial infrastructure development. Please check the name, logo and contract address before trading to avoid losses. WLUNC derives its value directly from its underlying asset, the native governance and utility token of the Terra Classic ecosystem, LUNC. By wrapping LUNC, users can participate in various DeFi lending and trading protocols beyond the native Terra Classic blockchain. The primary functionality of WLUN is the ability of LUNC owners to engage in decentralized finance on target chains.

Is this basically vulture trading, looking to take advantage of the resulting volatility at the bottom here? Over the last 24 hours, a Wrapped LUNA Token is worth 0.14% more. Visit our currency converter page to convert WLUNA prices to currencies other than USD.

Complete cryptocurrency market coverage with real-time coin prices, charts and crypto market cap featuring over 1600 coins on more than 220 exchanges. The LUNA classic token is the native cryptocurrency of the Terra Classic blockchain. The token is used for staking and for governance purposes on the network. More importantly, LUNA classic tokens were designed to maintain the dollar peg of Terra Classic’s algorithmic stablecoin terraUSD .

To learn more about Terra’s price peg and the role that Luna plays in this mechanism, you can check out Terra’s stability mechanism page or its whitepaper. The Terra network achieves price stability by algorithmically adjusting its supply based on fluctuations in demand. Once it detects that a Terra stablecoin has deviated from its peg, it will apply pressure to correct the deviation. I am using wrapped Luna data from Coinbase because it is the most consistent and did not suffer the meddling of the airdrop.

Where and how do I obtain Luna?

Circulating supply shows the number of coins or tokens that have been issued so far. CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely. CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position.

The new community vote proposed by Kwon saw the Terra blockchain split in two separate chains. South Korea issued an arrest warrant for Kwon, who is currently thought to be in hiding in Serbia following the collapse of the cryptocurrency. 84% of retail investor accounts lose money when trading CFDs with this provider. Luna is the staking token of the Terra Protocol, an Ethereum-based open-source blockchain of dApps and developer tools. These rewards seek to create mining demand that is stable and evergreen throughout all economic conditions.

If you purchased WLUNC on an exchange, it can be sold for USD, EUR, or any other fiat currency supported by the exchange. Wrapped LUNA Classic can be exchanged for other crypto tokens, for example, Bitcoin or Ethereum. Conversely, wrapped LUNC tokens can be burned and exchanged back to LUNC directly on the blockchain.