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Terra Classic (LUNC) has struggled to maintain prices throughout 2024. Various measures have been implemented to stabilize LUNC’s prices — most notably, token burns aimed at reducing supply and thus increasing value. Given that the wider cryptocurrency market has entered a full-blown bull run — many traders are anticipating the start of the long-awaited altcoin season. Some are speculating that the wider surge, coupled with a decreasing supply, could lead LUNC to experience significant moves to the upside — especially taking into consideration its performance over the last month.  LUNC was trading at a price of $0.0001225 at press time, after a 5.22% gain on the daily chart supplemented weekly returns to 8.82%, bringing returns over the last 30 days up to 32.68%. On a year-to-date (YTD) basis, prices are still down 11.61%. Picks for you ...

Terra Luna Classic Proposal To Revive LUNC and USTC Fails Proposal 11767 “Test market swap with mint limiter” aims to make the L1TF test using the limiter in the market swap only, which will successfully reopen the LUNC and USTC market swap. Terra Luna Classic community enabling the market swap function will significantly reduce LUNC and USTC supply and help the community meet its vision of USTC repeg to $1 and Terra Luna Classic (LUNC) revival to $1. advertisement However, the USTC Quant Team and L1 Terra Classic Task Force denied the benefits of testing using the limiter in the market swap only at this time. Quant team member RedlineDrifter earlier shared several issues with the market module. It caused Allnodes, a validator with 17.25% of voting power to refuse the proposal. The proposal has received only 45% “Yes” votes, but gets 50%”No” and 5% “Abstain” votes. Among 38 validators who voted, 17 including Interstel...

Terra Luna Classic v2.2.0 Core Upgrade Readiness L1 Terra Classic Task Force (L1TF) developer Vinh Nguyen took to X to reveal that the developer team is ready for the v2.2.0 core upgrade and will process it after it passes the governance proposal mechanism. Moreover, all full nodes and validators should update with the v2.2.0 release after approval of the proposal by the Terra Luna Classic community. advertisement The team successfully completed the testnet upgrade and all reported issues are now fixed. Several validators joined the rebel-2 testnet prior to scheduling the mainnet upgrade. According to the report, code work for the v2.2.0 core upgrade including cosmos SDK upgrade, tendermint migration to CometBFT, IBC-go to v6, and wasmd are completed. The upgrade introduces key changes earlier passed through governance voting including splitting the burn tax to the distribution module. Read More: Terra Luna Classic Requisite Market Swap Reopening For LUNC ...