The Terra Classic community is currently engaged in a pivotal vote on a proposal aimed at reviewing the LUNC burn tax to fund the Oracle pool.

Read more on: https://thecryptobasic.com/2024/06/13/terra-classic-community-votes-on-lunc-burn-tax-allocation-change/
#terraClassicLunc #Crypto #CryptoNewsCommunity #CryptoNews🚀🔥V

Singapore-based cryptocurrency exchange WEEX has announced a new development designed to support the Terra Classic community and its LUNC burn initiative. This announcement highlights WEEX’s commitment to the Terra Classic ecosystem and its long-term potential.
WEEX announced a new landing page for LUNC on its website through its official X account. Mrdiamondhandz1 (@Mrdiamondhandz1), a prominent community member and WEEX burn ambassador, reshared the news on his X account.

The Dedicated Landing Page
WEEX has launched a dedicated landing page to provide clear and comprehensive information about the LUNC burn initiative. The page features a list of the program’s first round of LUNC burn ambassadors.
Additionally, it includes a countdown timer for the monthly scheduled LUNC burns, ensuring transparency and fostering community engagement. Users can find all relevant details regarding the WEEX burn initiative on the landing page.
Collaboration with Prominent Community Figure
The WEEX program was developed in collaboration with Mr.Diamondhandz1, the host of the popular LUNCLIVE podcast.  Mr.Diamondhandz1 is a well-respected figure within the Terra Classic community, and his involvement signifies WEEX’s commitment to working alongside community leaders to achieve shared goals.
Advantages of WEEX for the LUNC Community
After WEEX listed LUNC spot trading pairs, some analysts predicted that the digital asset would dominate the current bull cycle. The new landing page and the features of the token burn initiative have increased the bullish sentiment.
A central element of the burn initiative involves WEEX allocating 15% of its trading fees from both the Futures Pro and Spot platforms towards burning LUNC tokens.
This burn mechanism aims to reduce the overall circulating supply of LUNC, potentially leading to an increase in its value. The initiative directly contributes to the community’s ongoing efforts to revitalize the LUNC ecosystem.
WEEX’s Dedication to the LUNC Ecosystem
WEEX’s announcement emphasizes the company’s firm belief in the long-term potential of the Terra Classic ecosystem. The exchange aims to provide a robust trading platform for LUNC while contributing meaningfully to the community’s efforts towards sustainability and growth. The monthly LUNC burning events and the dedicated landing page serve as concrete examples of WEEX’s dedication to this objective.
A Call to Action for the LUNC Community
The WEEX landing page concludes with a call to action, inviting the LUNC community to join the initiative. By working together, WEEX and the community can work toward a brighter future for LUNC. The program presents an opportunity for both parties to collaborate and contribute to the ongoing revitalization of the Terra Classic ecosystem.
Mrdiamondhandz1 also shared a similar call to action, asking users to “Sign up and burn,” as continuous use of the platform contributes to the token burn rate.

⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#terraClassicLunc #LUNC🔥

These predictions are based on the expectation that the USTC price will continue to rise in 2025, driven by factors such as technological advancements, global crypto acceptance, and the community's support for the Terra Classic ecosystem.
In 2025, the TerraClassicUSD (USTC) price is expected to experience significant growth. The lowest price forecasted is $3.74, while the average price is anticipated to rise to $5.15, reflecting the increasing adoption of blockchain and crypto assets. The highest price prediction for the year is $6.29, which builds on the solid foundation of community support and functional upgrades incorporated in recent years
This positive outlook for USTC is based on the continued growth trajectory of the crypto market, the resilience of the Terra ecosystem, and the potential for further technological advancements and community support. As the crypto market continues to evolve, USTC is poised to benefit from these developments, offering a promising investment opportunity for those looking to capitalize on the growth potential of the TerraClassicUSD ecosystem.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please do your own research before making any investment decisions.
#ustc #terraClassicLunc

The prices of Terra Classic (LUNC) and USTC recently went up by a lot. This happened because the Supreme Court of Montenegro decided to let Do Kwon go, who is one of the founders of Terraform Labs. They also postponed any requests to send him back.

Even though Terraform Labs and Kwon are no longer connected to Terra Classic, these tokens still saw big increases because of this news.
Do Kwon’s Release Sparks Cryptocurrency Market Surge
News of Do Kwon’s release led to a surge in buying activity in the cryptocurrency market. This excitement was evident in LUNC’s performance, with the token experiencing a substantial 20% price increase, as reported by CoinMarketCap.
Although there has been some profit-taking following the initial spike, LUNC is currently trading at $0.000155. The token’s trading volume also witnessed a dramatic 200% increase, although this has moderated to a still-impressive 53% gain over the last 24 hours.
The positive momentum extended to USTC, which briefly climbed 12% to reach $0.0301. While the price has slightly retreated, USTC still maintains a 3.51% increase. This bullish sentiment is further evidenced by a 20% rise in total USTC futures open interest across various cryptocurrency exchanges.
Rise and Fall of LUNC Futures Amidst Market Activity
Data from CoinGlass reveals a significant increase in 1000LUNC futures open interest on Binance and Bybit, reaching a peak of 40%. Similar exchanges also witnessed a surge in LUNC futures, exceeding 35% in the past day. However, there is currently a decline in both 1000LUNC and LUNC futures as some traders are liquidating their positions.
The Terra Luna Classic chain is gearing up for a significant upgrade in the upcoming week. A key highlight of this upgrade is the implementation of IBC-Hooks, which will make it easier for decentralized applications (dApps) to join the network seamlessly.

Additionally, Genuine Labs is expected to share crucial updates aimed at improving the security, functionality, and interoperability of Terra Luna Classic. The development team aims to finalize all enhancements, including an upgrade to Cosmos SDK 0.47, within 8 weeks.
Positive Outlook for Terra Luna Classic Amidst Growing Interest
The combination of recent developments and the increasing number of wallets holding LUNC suggests a positive outlook for the Terra Luna Classic chain. This surge in interest indicates growing confidence in the platform’s potential.
Developers and projects are showing a heightened interest in building on Terra Luna Classic. This trend signifies the platform’s attractiveness as a foundation for innovative decentralized applications (dApps) and projects within the cryptocurrency ecosystem.
While optimism surrounds Terra Luna Classic, it’s essential to exercise caution in the cryptocurrency market. Prices can be highly volatile, subject to rapid fluctuations that may impact investment decisions. Investors should approach trading with diligence and risk management strategies in place.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.

#terraClassicLunc #LUNC✅

Following a ruling against Terraform Labs and its co-founder Do Kwon in a fraud lawsuit, the company is considering the option of appealing the decision amid ongoing legal hurdles.

On April 5, Terraform Labs and co-founder Do Kwon were found guilty by a Manhattan jury for defrauding investors, following SEC accusations. Terraform Labs plans to appeal the verdict, challenging the SEC’s jurisdiction and the jury’s decision. Additionally, Do Kwon faces further criminal charges in the US and South Korea related to the collapse of Terra’s LUNA cryptocurrency.
Terraform Labs and Co-Founder Do Kwon Face Civil Verdict Over Fraud Allegations
A jury in Manhattan delivered a significant civil verdict on April 5, ruling against Terraform Labs and its co-founder Do Kwon for defrauding clients. The allegations stemmed from charges brought forth by the US Securities and Exchange Commission (SEC), marking a notable development in the ongoing scrutiny of the cryptocurrency industry.
The accusations centered around purportedly misleading investors about the stability of the UST stablecoin and making false claims regarding the utilization of their technology in the Korean payment system, Chai.
Following the verdict, Terraform Labs publicly expressed disagreement with the jury’s decision, contending that the case lacked clear arguments necessary for the jury’s determination. Moreover, they challenged the SEC’s authority to pursue the action.

The company announced its intention to carefully deliberate on the next course of action, hinting at the possibility of pursuing an appeal for support. This stance underscores the company’s resolute defense against the accusations and its steadfast commitment to contesting the legal outcomes.
SEC Hails Verdict Against Terraform Labs as a Win for Investor Protection
Gurbir Grewal, Director of the SEC Enforcement Division, responded positively to the verdict, emphasizing the importance of regulatory compliance within the crypto industry. He highlighted the case as a glaring example of the significant losses incurred by investors due to the actions of Terraform Labs. Grewal’s remarks underscore the SEC’s vital role as a guardian of retail investors and the broader market. The judgment is intended to serve as a deterrent to other crypto entities, cautioning them against engaging in fraudulent practices.
The SEC’s case against Terraform Labs aligns with its ongoing efforts to regulate the crypto market effectively. This ruling contributes to the formulation of future regulations and fosters investor confidence. The SEC aims to proactively combat fraud and enhance public awareness of the rapidly evolving cryptocurrency landscape. Consequently, the outcome of this case could shape future regulatory approaches in the crypto sphere for an extended period.
Legal Woes Mount for Do Kwon Amidst Terra’s LUNA Crypto Crash
In addition to the SEC lawsuit, Do Kwon faces criminal charges in both the US and South Korea related to the collapse of Terra’s LUNA cryptocurrency. These charges signify a deeper legal entanglement for Kwon, extending beyond civil proceedings.
The extradition proceedings involving Kwon have encountered delays in Montenegro, where initial approval for extradition was later stayed by the Supreme Court. As a result, Kwon’s fate now rests with the Ministry of Justice, which will determine the next course of action.
This legal saga has garnered international attention, casting a shadow over Terraform Labs and its global community. The uncertainty surrounding Kwon’s legal battles reverberates across the crypto sphere, underscoring the gravity of the situation for all involved parties.

⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.

#terraClassicLunc #Lunc

Terra Classic, a blockchain network, recently proposed a new governance rule. This rule aims to enhance the network’s security and decentralization. The regulation restricts validators from operating more than one node. Furthermore, entities cannot validate the network across different project divisions. Non-custodial service providers are also barred from allowing customers to run multiple validators.

This measure addresses concerns about potential risks to the network’s security and decentralization. Validators currently operating multiple nodes would need to revert to a single-node operation. Non-custodial providers must enforce these restrictions rigorously. The proposal seeks to diminish the likelihood of Sybil attacks, where one entity controls multiple nodes, thus compromising the network’s integrity.

The Terra community is set to vote on this crucial proposal soon. If passed, the rule would mandate immediate compliance from all network participants. This would ensure a fair and equitable environment within the Terra Classic network, bolstering its reputation and operational stability.