Skip to content
Crypto News Focus logo CNF_CRYPTO_NEWS_FOCUS_LOGO 8

Crypto News Focus

your day to day crypto news site

Primary Menu
  • Home
  • News
    • Bitcoin News
    • Ripple XRP news
    • Ethereum News
    • Cardano News
    • Shiba Inu News
    • Pi Network News
    • More
  • Analysis
  • PR Desk
  • About Us
  • General Policy & Privacy
  • Guides
    • Bitcoin Guides
    • Pi Network Guide
    • Cardano Guide
  • Politics
  • Tech
  • Home
  • News
  • Terra Luna Classic Community Passes 12142 Proposal, Igniting $1 LUNC Speculation
  • News

Terra Luna Classic Community Passes 12142 Proposal, Igniting $1 LUNC Speculation

Simon Njenga 26 October 2024
Terra Luna Classic Lunc
  • The Terra Luna Classic community has passed a proposal to remove outdated modules, reducing costs and improving security to align with the Cosmos ecosystem, sparking optimism for LUNC’s future growth.
  • With Terraform Labs planning to burn billions of LUNC and USTC tokens soon, many in the community speculate that LUNC could potentially rally towards a $1 valuation.

The Terra Luna Classic (LUNC) community has unanimously passed a game-changing proposal that could lead to significant advancements in the blockchain’s efficiency, potentially paving the way for a price surge.

The community-approved proposal, named “Removal of Forked Modules from Terra Classic” (Proposal 12142), aims to streamline Terra Classic’s operations, making it more competitive and in line with the Cosmos ecosystem. With this development, LUNC enthusiasts are hopeful for the token’s future, sparking speculation of a rally that could potentially push LUNC’s price to $1.

A Step Towards Enhanced Security and Cost-Effectiveness

The proposal received overwhelming support, with 99.97% of votes in favor. Led by the developer group OrbitLabs, this proposal seeks to eliminate outdated forked modules within Terra Classic’s infrastructure. Removing these modules is expected to enhance the platform’s maintainability, reduce operational costs, and minimize security risks associated with outdated systems. Without these changes, Terra Classic would likely face increased expenses, potential security issues, and reduced competitiveness.

OrbitLabs outlined a two-phased approach for these improvements. The first phase will involve updating the consensus engine and Cosmos SDK, bringing Terra Classic’s features up to date with Cosmos’ latest security measures and technology. The second phase, aimed at optimizing the Wasmd contract system, will ensure compatibility with existing smart contracts on the Terra Classic blockchain. Together, these steps will help maintain network integrity while minimizing disruptions during the migration process.

Rising Interest and Price Momentum

Following the proposal’s approval, both LUNC and USTC have experienced a surge in interest. LUNC’s price has risen by 3% in the past 24 hours, now trading at $0.00009199, with a trading volume increase of 15%, signaling growing interest among traders. Likewise, USTC, Terra’s stablecoin, has also gained value, with a weekly increase of more than 4%. However, its 24-hour trading volume saw a 15% dip, suggesting slightly reduced activity in recent trades.

Adding to the excitement, Terraform Labs (TFL) is set to burn billions of LUNC and USTC tokens in compliance with a court order. Token burning, which reduces the total supply of a cryptocurrency, often has a deflationary effect, potentially driving up the price. This upcoming burn has fueled community speculation about a possible rally, with some anticipating that LUNC could reach the $1 mark if momentum continues.

As Terra Luna Classic aligns itself more closely with the Cosmos ecosystem, it strengthens its position as a robust and secure blockchain. If the two-phase upgrade proceeds as planned over the next few months, LUNC may well be on track for further price gains.

The combination of technical improvements, cost savings, and heightened interest among traders creates an optimistic outlook for Terra Classic’s future, with the potential to reach new heights if the community’s hopes for a $1 valuation come to fruition.

Continue Reading

Previous: Max Pain or Pump Party? The Impact of $5.5 Billion BTC & ETH Options Expiry
Next: Tether Scandal and SEC Delay Hit Hard, Leading XRP to Drops Sharply Below Key Levels

Related Stories

Ripple XRP on BLUE
  • News

Ripple Pushes New Crypto Rules to Limit SEC’s Power

Cal Evans 30 May 2025
Tron TRX coin
  • Analysis

Tron Flips Cardano in Market Cap as TRX Eyes $0.30 — But Trouble Looms

Sean Williams 30 May 2025
dogecoin on marbles
  • Analysis

Dogecoin Drops 10% as Traders Eye Rebound from Soaring Volume

vivian 30 May 2025

For general inquiries, please email us at Info@cryptonewsfocus.com

Crypto news focus is your day-to-day crypto news site. Get all the latest News and trends in the crypto, blockchain, and DeFi space. For more info and inquiries, reach out via email at info@cryptonewsfocus.com

You may have missed

Ripple XRP on BLUE
  • News

Ripple Pushes New Crypto Rules to Limit SEC’s Power

Cal Evans 30 May 2025
Tron TRX coin
  • Analysis

Tron Flips Cardano in Market Cap as TRX Eyes $0.30 — But Trouble Looms

Sean Williams 30 May 2025
dogecoin on marbles
  • Analysis

Dogecoin Drops 10% as Traders Eye Rebound from Soaring Volume

vivian 30 May 2025
PEPE COIN IMAGE
  • Analysis

PEPE Eyes New Highs in June Backed by Strong Whale Accumulation

Jane Kariuki 30 May 2025

Social Media

Crypto News Focus © All rights reserved | MoreNews by AF themes.
Go to mobile version
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok