The Hong Kong Virtual Asset Consortium (HKVAC), a prominent rating agency based, has announced its plans to evaluate the inclusion of Terra Luna Classic (LUNC) in its digital asset index.
Just recently, the HKVAC Rating Agency unveiled its latest index, which features the inclusion of popular digital assets such as Shiba Inu and XRP.
In addition to its existing indexes featuring assets like Shiba Inu and XRP, the HKVAC Rating Agency has expressed its intention to introduce further indexes that will include a wider range of cryptocurrencies in its supported list.
Terra Luna Classic (LUNC) Community Requested Inclusion In HKVAC
After receiving a request from a member of the Terra Luna Classic community, the Hong Kong Virtual Asset Consortium (HKVAC) acknowledged the appeal to include Terra Luna Classic (LUNC) in its digital currency index.
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In response, the HKVAC team expressed recognition of Terra Luna Classic’s reputation, capabilities, and its association with the prominent cryptocurrency exchange, Binance. Currently, HKVAC’s newly introduced virtual asset index ranks the top 30 coins based on their market capitalization.
The HKVAC large market cap index has been developed with a specific objective in mind, and its constituents will be officially disclosed on the organization’s website on July 14. This index is designed to cater to the needs of investors and market participants seeking exposure to digital assets with substantial market capitalization.
The HKVAC team is actively exploring the possibility of introducing additional index types to cater to diverse market needs. In this regard, they are planning to engage with the Terra Luna Classic community for valuable insights and information.
By consulting the Terra Luna Classic community, HKVAC aims to gather input and feedback regarding potential index types that align with the preferences and requirements of the community members.
HKVAC stated:
Our index is at the moment for demonstration purposes only. However, we did receive overwhelming response and we believe there might be users considering the future use of the index.
Enhanced Visibility And Response Expected For LUNC
The addition of Terra Luna Classic (LUNC) to HKVAC’s digital asset index is expected to have a positive impact on the community’s efforts to revitalize the project.
With LUNC being included, it can garner increased visibility and recognition, potentially attracting more attention and participation from the broader cryptocurrency ecosystem.
Additionally, the developers of Terra Luna Classic are actively working on various initiatives to enhance the project’s functionalities and value proposition.
These include the re-peg of USTC, an effort to align the stablecoin with its intended peg, as well as initiatives to increase LUNC staking and facilitate token burn to reduce the circulating supply.
Another development is a major upgrade that has brought the chain to parity with Terra 2.0 and other Cosmos chains, further enhancing its compatibility and interoperability.
As of the current time, the price of LUNC stands at $0.000088, according to the information available on CoinGecko. It is worth noting that there has been a slight decline in the market capitalization of LUNC.
