Looks like crypto markets are starting to rise again. LUNC is a good example of it. After hitting a solid rock bottom in the early 2022 Terra Classic made it back in the game by gaining 37.000% ever since the crash.
And it looks like it's going to keep on going for a while now. There's an 8.19% increase on the daily and an insane looking over 80% increase on the weekly charts.
How V22 Impacted the price of LUNC
People speculate that The v22 update is indeed the sole reason why LUNC was able to get such massive gains. It is clear that the investors see a good opportunity in it, now that LUNC staking rewards can go up to almost 38%. But there's almost something to watch out for and in this case it is the unpredictable interest rates. Which does raise even a bigger concern in the dry market of today. In order to counter that token burning was initiated.
Kim's Tax Setting Update
It is clear as day that LUNC is in the middle of its bull run. The suggestion brought up by Edward Kim is to use the collected taxes to burn them in order to fund the future on-chain operations. The tax will be collected from any off-chain transactions like trading, buying or selling on a crypto exchange.
Edward has also published a more in-depth look on how the tax is going to work on LUNC's official forum.
Kim sees this tax as a crucial element in LUNC reaching $1 value. With such a statement it becomes obvious why LUNC has been on such a magnificent run for the past few weeks.