- The Terra Luna Classic community has passed a key proposal to fix a validator issue, sparking optimism that LUNC could rally to $0.0003.
- Despite recent price fluctuations and lower trading volume, recent upgrades and community support could drive significant gains for LUNC.
The Terra Luna Classic (LUNC) community has recently passed a significant proposal that could steer the token towards new highs. Following a recent surge in price, this latest development has stirred optimism about LUNC potentially reaching $0.0003.
Proposal Aims to Fix Validator Issue
The Terra Luna Classic community has unveiled Proposal 12133, a pivotal upgrade designed to rectify a validator issue from a previous update. This proposal seeks to restore the maximum number of validators on the network to 110, ensuring greater stability and functionality for the ecosystem. The error originated from a module in Proposal 12125, which inadvertently outdated code during the SDK upgrade.
Community engagement has been robust, with 63.81% of votes already supporting the proposal as of September 13, and the voting period will close in two days. This strong backing highlights the community’s commitment to correcting past mistakes and moving forward with renewed vigor.
Recent Developments Boost Market Sentiment
The recent price action for LUNC has been notable. The token experienced a 17% rally last week, although it has since struggled to maintain momentum amid broader market volatility. Today, LUNC is trading at $0.00008175, marking a modest 1% increase. Trading volume has dipped by 38% to $11.36 million, reflecting a quieter period for the token.
Despite these fluctuations, optimism remains high. The Tax2Gas upgrade and other recent enhancements aimed at bolstering the ecosystem’s security have invigorated community sentiment. These upgrades are seen as key drivers of potential future price movements.
Price Analysis: Rally to $0.0003 on the Horizon?
Looking ahead, recent price analysis suggests that LUNC could rally to $0.0003 if it manages to breach certain resistance levels. The Terraform Labs Chapter 11 bankruptcy upgrade has further fueled this optimism, as it appears to have strengthened the community’s outlook.
In contrast, LUNA has seen a slight uptick of over 2%, trading at $0.3819, with its 24-hour high and low at $0.3832 and $0.3684, respectively. The trading volume for LUNA has also decreased by 32% to $27.66 million, indicating a broader trend of declining trading activity.
As Terra Luna Classic continues to navigate through these critical upgrades and market dynamics, the potential for LUNC to reach $0.0003 remains a key point of interest for investors and community members alike.
