Important Guide on Exchanging LUNA to LUNC

In the volatile world of crypto, major blockchain events can cause dramatic shifts—not only in asset value but also in how portfolios are tracked and reported. One such pivotal moment occurred on May 28, 2022, when the Terra blockchain underwent a hard fork, splitting the network into two separate chains. This resulted in two different tokens: LUNC (Luna Classic) and the new LUNA under the Terra 2.0 protocol.

While this move aimed to restore investor confidence following the TerraUSD collapse, it also introduced confusion, particularly in how investors should manage and report their holdings. 

This article serves as an essential guide to understanding the LUNA–LUNC transition and how to correctly update your records, especially if you're using platforms like Waltio, CoinTracker, or other crypto portfolio management systems.

What Happened: Terra Fork and LUNA–LUNC Split

On May 28, 2022, the original Terra (LUNA) blockchain forked into two separate chains:

• Terra Classic: The original chain, and its token was renamed to LUNC (Luna Classic).

• Terra 2.0: A new chain created without the collapsed algorithmic stablecoin UST. The new token retained the LUNA name.

This fork was initiated by the Terra community in an effort to rebuild the ecosystem after the historic de-pegging and collapse of UST, which had a catastrophic impact on LUNA's price and the broader DeFi sector.

Why This Matters

The dual-token situation caused significant issues, especially with portfolio valuation tools that were not designed to handle two separate assets using the same ticker at different points in time. Investors suddenly faced challenges in identifying which LUNA they held and how it should be valued.

Read Also: Looking at the Details of Terra LUNA Loss Claim Site: Be Careful of Phishing and Scams

Price Discrepancy and Its Effect on Portfolios

At the time of the fork, the price difference between the two tokens was substantial:

• LUNC (old LUNA): €0.0001124

• LUNA (new): €4.50

Example Scenario

Suppose you held 10,000 LUNC, but your wallet or tracking app still labels them as “LUNA.” Since these platforms fetch real-time prices based on the current LUNA ticker, your holdings would be falsely calculated as:

10,000 × €4.5 = €45,000 (Incorrect)

The correct valuation should be:

10,000 × €0.0001124 = €1.124 (Correct)

This artificial inflation of your portfolio value not only distorts your financial records but could also lead to tax misreporting if not corrected properly. Furthermore, inaccurate data may hinder your investment decisions or risk assessments.

Read Also: Analyzing the Strange Activity of LUNA: Should You Still Trust This Coin?

How to Fix the LUNA to LUNC Conversion

Step-by-Step Correction Guide (Using Waltio as Example)

If you’re using a platform like Waltio, here’s how you should update your account:

1. Identify your holdings: Check how many LUNA tokens you held on May 28, 2022.

2. Create a manual transaction: Log an exchange transaction where you swap LUNA for LUNC on the same date.

   • For example: 10,000 LUNA → 10,000 LUNC on 28/05/2022.

3. Re-label your assets: Ensure that any trades or holdings post-fork are labeled as LUNC, not LUNA.

4. Double-check pricing sources: Confirm that your tracker uses CoinMarketCap, CoinGecko, or another reliable source for historical data.

Alternate Method:

You can also go back and rename all “LUNA” transactions after the fork to “LUNC” manually. This can be tedious but effective.

This method mirrors the transition from ERD to EGLD in the Elrond ecosystem.

Considerations for Other Platforms

Whether you're using CoinTracker, Koinly, Kubera, or Delta, most portfolio apps allow manual asset name editing and transaction inputs. Apply the same principle: rename old LUNA to LUNC and ensure the correct price history is aligned with the appropriate token.

Read Also: Community is Not Trusting LUNA! Understanding the Negative Sentiment Towards Luna Coin

Why Accurate Conversion Matters

1. Correct Portfolio Valuation: Prevents overstatement of net worth and provides clarity in financial decision-making.

2. Regulatory Compliance: Essential for proper tax filing and capital gains calculations.

3. Clear Asset Management: Avoids confusion between LUNA and LUNC moving forward.

4. Data Integrity for Analytics: Accurate tracking ensures tools like profit calculators, ROI trackers, and rebalancing tools yield reliable outputs.

Mislabeled or mispriced holdings can have long-term repercussions—especially if you're audited, preparing for tax season, or need to present a detailed report to regulators or advisors.

Read Also: What Happened to Luna Coin? Is It Still a Good Investment?

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Final Thoughts

The Terra fork and subsequent creation of LUNC and LUNA (Terra 2.0) created one of the most complex asset tracking challenges in recent crypto history. However, by carefully updating your records to reflect the conversion accurately, you can ensure your portfolio reflects reality, not an inflated illusion.

Keep in mind that future blockchain events, such as forks, airdrops, or migrations, could present similar challenges. Being informed and responsive to these developments is essential to maintaining clean, auditable records.

Stay informed, stay compliant, and always double-check ticker symbols during major blockchain forks.

For more educational content and real-time crypto updates, visit Bitrue’s official website.

FAQ

Q: What is the difference between LUNA and LUNC?
A: LUNA (Terra 2.0) is the new token created after the fork, while LUNC (Luna Classic) is the rebranded original token on the old Terra blockchain.

Q: Why is my LUNA valuation so high after the fork?
A: Because tracking apps may still assign the new LUNA price to your old LUNA holdings, which are now LUNC.

Q: How do I correct this in my portfolio?
A: Create a manual exchange on May 28, 2022, from LUNA to LUNC at a 1:1 quantity ratio and adjust the ticker label accordingly.

Q: Is this change applicable across all platforms?
A: Yes, whether you’re using Waltio, CoinTracker, or another portfolio manager, the principle remains the same—accurate asset identification is crucial.

Q: Where can I learn more about Terra, LUNA, and LUNC?
A: Visit Bitrue's blog or explore Terra’s official documentation for deeper insights into their ecosystem and token evolution.

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Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.