- Terra Luna Classic (LUNC) is poised for potential growth as Proposal 12148, which aims to enhance tax handling and security through a v3.3.0 blockchain upgrade, garners unanimous support and is set to be implemented on December 17.
- With recent price surges mirroring XRP’s breakout, analysts predict further gains if trading volumes remain strong and community momentum continues.
The Terra Luna Classic (LUNC) community is excited with Proposal 12148, aiming to upgrade the blockchain to version 3.3.0, moving forward. This proposal seeks to streamline tax handling and enhance security, creating a more robust ecosystem for decentralized applications (dApps) from the Cosmos network. If successful, it could set the stage for a price surge that mirrors XRP’s recent breakout.
Key Developments Behind Proposal 12148
The proposed upgrade, spearheaded by developer StrathCole, has garnered unanimous support from all 39 participating validators, including prominent names like JESUSisLORD and TerraCVita. This overwhelming backing reflects the community’s optimism about the enhancements, which are set to take effect on December 17. During this upgrade, the blockchain will temporarily halt to implement the critical changes.
The updates aim to make LUNC more appealing to developers while boosting security, a move that could attract more activity to the platform. These improvements come at a time when the broader Terra ecosystem is experiencing bullish momentum, with USTC climbing 20% and Terra (LUNA) soaring by an impressive 52% in just a week.
LUNC’s Price Action: A Reflection of XRP’s Rally?
LUNC’s recent performance has drawn comparisons to XRP’s notable price breakout after years of consolidation. Following the formation of a symmetrical triangle pattern, LUNC surged by over 40% this week, reaching $0.00017 and recording a monthly gain of more than 90%. Currently trading at $0.0001613, LUNC has posted a 34.01% weekly gain.
Market analysts predict that a weekly close above $0.00018 could drive LUNC’s price toward the $0.0005 mark. However, sustaining this upward trajectory will depend heavily on trading volume and community support. Binance’s recent token burn of 1.7 billion LUNC coins has already provided a significant boost to the token’s momentum.
What Lies Ahead for Terra Luna Classic?
The combination of Proposal 12148’s potential approval, increased community involvement, and favorable market conditions could propel LUNC to new heights. If the community successfully maintains this momentum, LUNC may emulate XRP’s recent success, reclaiming higher price levels and solidifying its position in the crypto market.
As the December 17 upgrade date approaches, all eyes are on LUNC to see whether its journey will indeed mirror XRP’s breakout moment. Could this be the turning point for Terra Luna Classic? The answer lies in the hands of its active and committed community.
