Bubble
Terra Luna Classic LUNC
Terra Luna Classic (LUNC) was trading at $0.00004970, ranked #140 by market cap at $274.55M, with 24h volume of $7.80M.
Data snapshot: 2026-09-02 12:15 UTC.
Terra Luna Classic is what remains of the original Terra chain after the UST stablecoin lost its peg in May 2022 and the token supply hyperinflated into the trillions. It is now run by its community rather than the original developers, with a burn tax on transfers meant to reduce supply over time — which is why its market cap sits far above what its per-token price suggests. This is the original Terra chain, renamed Luna Classic after the algorithmic stablecoin it supported lost its peg in 2022 and the linked token collapsed in value by essentially its entire market capitalisation. The chain continues under community maintenance, and the token trades at a tiny fraction of its former price with a very large supply. It belongs on any honest market map for one reason above all: it is the clearest available record of what a reflexive stablecoin design can do when confidence turns, and of how quickly a top-ten asset can disappear.
What happened to Terra in 2022?
The algorithmic stablecoin it supported lost its peg, and the mint-and-burn mechanism that was supposed to defend the peg instead expanded supply enormously. The linked token lost effectively all of its value within days.
Is this the same as the newer Terra chain?
No. The original chain became Luna Classic; a separate new chain was launched afterwards. They are distinct assets with distinct tickers and are tracked separately here.
Why is the unit price so small?
Supply was expanded by many orders of magnitude during the collapse. A very low unit price with a very large supply is the arithmetic result.
What does this case illustrate?
That a design which relies on confidence to defend a peg can fail rapidly once confidence goes, and that market capitalisation is not a measure of safety.
Market cap decides how big a bubble is drawn, so rank is what places LUNC on the map relative to the rest of its sector.
| Rank | Coin | Market cap |
|---|---|---|
| #128 | Sei (SEI) | $277.69M |
| #133 | Monad (MON) | $302.17M |
| #140 | Terra Luna Classic (LUNC) | $274.55M |
| #149 | Conflux (CFX) | $243.69M |
| #155 | Tezos (XTZ) | $234.21M |