lunac
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Burning of 50% of the November #LUNC trading commission income of the #binance exchange will take place tomorrow. Due to the high $LUNC trading volume in November, it is certain that the number of burns will increase, we will see how much it will burn. 1/2 #lunac #ustc #buythedip #Trendingcoins
Within the hour, #LUNA is above the support region. This region can be used to push up the price.
#Write2Earn #BTC #ETH #lunac
#Write2Earn #BTC #ETH #lunac
#LUNC/USDT
#LONG
👉Leverage : Cross 20X
👉Entry Target : 0.2000
Take profit Targets 👇
0.2020
0.2045
0.2070
0.2100
🛑Stop Target : 0.1850
#TrendingTopic: #Write2Eam #USDTDaily #lunac
#LONG
👉Leverage : Cross 20X
👉Entry Target : 0.2000
Take profit Targets 👇
0.2020
0.2045
0.2070
0.2100
🛑Stop Target : 0.1850
#TrendingTopic: #Write2Eam #USDTDaily #lunac
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$BTC #lunac
LUNC price poised to surge as Terra Luna Classic unveils major upgrade
The Terra Luna Classic developer group Genuine Labs has made it to X to confirm positive news to the LUNC community and announce the readiness for a major upgrade.
The new SDK version 47 updates Terra Luna's components, combats P2P Storm attacks, and fixes the Dyncomm decorator, improving the ecosystem's strength and efficiency.
Genuine Labs will put forward a proposal that will allow the community to vote for the upgrade.
Meanwhile, the latest version v3.0.1 shows the developer's commitment to updating and improving the security of the Terra Luna Classic blockchain.
Genuine Labs recently completed the Rebel 2 testnet upgrade. The update includes several items including a P2P Storm fix, wasmd vo.45, SDK vo.47 and ibc-go v7, which promise improved network performance.
LUNC price poised to surge as Terra Luna Classic unveils major upgrade
The Terra Luna Classic developer group Genuine Labs has made it to X to confirm positive news to the LUNC community and announce the readiness for a major upgrade.
The new SDK version 47 updates Terra Luna's components, combats P2P Storm attacks, and fixes the Dyncomm decorator, improving the ecosystem's strength and efficiency.
Genuine Labs will put forward a proposal that will allow the community to vote for the upgrade.
Meanwhile, the latest version v3.0.1 shows the developer's commitment to updating and improving the security of the Terra Luna Classic blockchain.
Genuine Labs recently completed the Rebel 2 testnet upgrade. The update includes several items including a P2P Storm fix, wasmd vo.45, SDK vo.47 and ibc-go v7, which promise improved network performance.
to the moon#lunac
LIVECoinXversE
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LUNC and USTC: A PLaN FoR RePeg To 1$
LUNC and USTC: Why are they rising and what is the reason behind the recent burn?LUNC and USTC are two tokens that belong to the Terra Classic blockchain, a fork of the original Terra blockchain that suffered a major collapse in May 2022. The Terra Classic community has been working hard to revive the value of its tokens and restore the peg of its stablecoin USTC to the US dollar. In this article, we will explore why LUNC and USTC are rising in price and what is the reason behind the recent burn of these tokens.LUNC is the native token of Terra Classic, and it has two main functions: to absorb the price deviation of USTC and to participate in the governance of the network. USTC is the algorithmic stablecoin of Terra Classic, and it is supposed to maintain a 1:1 peg to the US dollar by minting and burning USTC tokens to balance the supply and demand. However, in May 2022, USTC lost its peg and collapsed, triggering a hyperinflationary spiral that reduced the value of LUNC by 99%. This event was dubbed as the “decoupling” and it wiped out $41 billion from the crypto ecosystem.Since then, the Terra Classic community has been trying to recover from the disaster and restore the value of its tokens. One of the main efforts is to rebind USTC to the US dollar from the code level, consensus level and guidelines, with the ultimate goal of repegging USTC to $1. This proposal, known as “Ziggy: Re-Peg UST (Signal)”, was passed by the community in October 2022.The proposal also involved raising the Tobin tax to 100%, which effectively disabled the minting and redeeming of USTC.This was done to prevent further dilution of USTC and to prepare for the repegging process.The repegging process is being led by two developer teams: the Joint L1 Task Force and the RedlinerDrifter-led Quant team. They have decided to proceed with the repegging of USTC to $1, which will indirectly help boost the LUNC price to the community’s target of $1.The repegging process involves several steps, such as resetting the oracle price feed, adjusting the seigniorage pool, and burning the excess USTC supply. The burning of USTC is one of the reasons why USTC price has been rising in the past few days, as it reduces the supply and increases the demand of the stablecoin. The burning of USTC also benefits LUNC holders, as it increases the value of their collateral and their governance power.Another reason why LUNC and USTC are rising in price is the positive sentiment and confidence of the Terra Classic community. The community has shown strong support and enthusiasm for the revival of the Terra Classic ecosystem, and has been actively participating in the governance and development of the network. The community has also been celebrating the passing of several proposals that aim to improve the functionality and security of the network, such as the v2.3.0 upgrade that incorporates the dynamic validator commission module. The community has also been looking forward to the launch of new projects and applications on the Terra Classic blockchain, such as the Terra Classic Swap, a decentralized exchange that will allow users to trade LUNC and USTC with other cryptocurrencies.Last lunc burn data yesterdayIn conclusion, LUNC and USTC are rising in price because of the ongoing efforts to repeg USTC to $1, the burning of USTC supply, and the positive sentiment and confidence of the Terra Classic community. The Terra Classic ecosystem is showing signs of recovery and revival, and it is expected to regain its former glory and value in the near future.
#lunac #lunaclasic $1
Burn Activity and Market Sentiment
LUNC continues to experience significant burns, as detailed in the latest metrics from the community’s tracking dashboard. Today’s burn rate reached 15.79 million LUNC, which indicates robust daily burn activity.
Over the past week, the cumulative burn totaled 299 million LUNC, averaging approximately 42 million LUNC daily. The 30-day metrics are even more impressive, showing a massive 3 billion LUNC burned, averaging about 105 million LUNC daily. These figures highlight the community’s ongoing efforts to reduce the token’s supply, aiming to increase its scarcity and potential value.
Technical Indicators and Future Outlook
Terra Classic might soon regain its upward trajectory with the current market volatility. If bullish momentum drives the price beyond $0.000092, LUNC price could explore higher resistance at $0.0001. This escalation might even push the digital asset to achieve a value of $0.001.
Conversely, increased market doubts could force a pullback to the $0.000091 support. If the bearish trend persists, prices might drop further to $0.00009. Such a scenario would spell additional hurdles for Terra Classic’s recovery prospects.
The technical indicators for LUNC on the daily chart suggest mixed signals in recent trading sessions. The Moving Average Convergence Divergence (MACD) shows a bearish crossover, with the MACD line (blue) trending below the signal line (orange).
The Chaikin Money Flow (CMF) is above the zero line, which suggests that buying pressure still exists.
Terra Classic Price Prediction|
The Average Directional Index (ADX) reading is at 26, indicating a relatively strong trend. The Relative Strength Index (RSI) stands at 36, hinting that the asset is approaching, but not yet in, the oversold territory.
Burn Activity and Market Sentiment
LUNC continues to experience significant burns, as detailed in the latest metrics from the community’s tracking dashboard. Today’s burn rate reached 15.79 million LUNC, which indicates robust daily burn activity.
Over the past week, the cumulative burn totaled 299 million LUNC, averaging approximately 42 million LUNC daily. The 30-day metrics are even more impressive, showing a massive 3 billion LUNC burned, averaging about 105 million LUNC daily. These figures highlight the community’s ongoing efforts to reduce the token’s supply, aiming to increase its scarcity and potential value.
Technical Indicators and Future Outlook
Terra Classic might soon regain its upward trajectory with the current market volatility. If bullish momentum drives the price beyond $0.000092, LUNC price could explore higher resistance at $0.0001. This escalation might even push the digital asset to achieve a value of $0.001.
Conversely, increased market doubts could force a pullback to the $0.000091 support. If the bearish trend persists, prices might drop further to $0.00009. Such a scenario would spell additional hurdles for Terra Classic’s recovery prospects.
The technical indicators for LUNC on the daily chart suggest mixed signals in recent trading sessions. The Moving Average Convergence Divergence (MACD) shows a bearish crossover, with the MACD line (blue) trending below the signal line (orange).
The Chaikin Money Flow (CMF) is above the zero line, which suggests that buying pressure still exists.
Terra Classic Price Prediction|
The Average Directional Index (ADX) reading is at 26, indicating a relatively strong trend. The Relative Strength Index (RSI) stands at 36, hinting that the asset is approaching, but not yet in, the oversold territory.
#lunac #lunaclasic
Terra Classic To Implement Burn Tax Into Gas Fees
Proposal 12115 “Genuine Labs Tax2Gas Implementation” has passed in governance voting on Station wallet. The proposal by Genuine Labs aims to proceed with incorporating tax into the gas. The team will also work on increasing chain security by preventing attack vectors using e2e-test.
The proposal received 74.91% “Yes” and 25.03% “Abstain” votes. This indicates some community members were reluctant to accept the Tax2Gas implementation. Most validators who participated have voted in favor of the proposal. It received support from validators such as Interstellar Lounge, JESUSisLORD, Stakely, HappyCattyCrypto, StakeBin, and others.
However, top Terra Luna Classic validator Allnodes voted “Abstain” and warned the community about the low level of discussions.
“We are abstaining as we acknowledge the community sentiment. It is important to note that we are not satisfied with the public communication and will consider voting NO on further proposals if we do not see an improvement.”
As CoinGape reported earlier, Tax2Gas proposal is game-changing as it will resolve issues including contract developers’ need to calculate the burn tax manually. The issues are — clients or dApps have to calculate the tax themselves as the simulation endpoint only provides gas estimates. Migrating audited dApps becomes cumbersome due to these Classic-specific adjustments, leading to potential re-audits.
Genuine Labs developers require 5 weeks for research, development, and basic testing and deployment. The estimated total budget is $25,000 in LUNC.
Terra Classic To Implement Burn Tax Into Gas Fees
Proposal 12115 “Genuine Labs Tax2Gas Implementation” has passed in governance voting on Station wallet. The proposal by Genuine Labs aims to proceed with incorporating tax into the gas. The team will also work on increasing chain security by preventing attack vectors using e2e-test.
The proposal received 74.91% “Yes” and 25.03% “Abstain” votes. This indicates some community members were reluctant to accept the Tax2Gas implementation. Most validators who participated have voted in favor of the proposal. It received support from validators such as Interstellar Lounge, JESUSisLORD, Stakely, HappyCattyCrypto, StakeBin, and others.
However, top Terra Luna Classic validator Allnodes voted “Abstain” and warned the community about the low level of discussions.
“We are abstaining as we acknowledge the community sentiment. It is important to note that we are not satisfied with the public communication and will consider voting NO on further proposals if we do not see an improvement.”
As CoinGape reported earlier, Tax2Gas proposal is game-changing as it will resolve issues including contract developers’ need to calculate the burn tax manually. The issues are — clients or dApps have to calculate the tax themselves as the simulation endpoint only provides gas estimates. Migrating audited dApps becomes cumbersome due to these Classic-specific adjustments, leading to potential re-audits.
Genuine Labs developers require 5 weeks for research, development, and basic testing and deployment. The estimated total budget is $25,000 in LUNC.
Approval of Terra Luna Classic v2.3.2 Upgrade Proposal Drives 25% Surge in LUNC Price
The official passage of the Terra Luna Classic v2.3.2 upgrade proposal has resulted in a remarkable 25% increase in the price of LUNC tokens. This significant development signals a positive response from the community towards the proposed upgrade, showcasing a surge in investor confidence and enthusiasm following the approval.
The successful passage of the upgrade proposal for Terra Luna Classic, culminating in a substantial price upswing for LUNC tokens, underlines the impact and significance of protocol upgrades within the cryptocurrency ecosystem. This surge in price reflects the market's optimism and support for the proposed enhancements embedded in the v2.3.2 upgrade.
This article aims to delve into the implications of the approved upgrade proposal for Terra Luna Classic and the subsequent surge in the price of LUNC tokens. By analyzing this development, readers gain insights into the influence of protocol upgrades on token values and the broader market sentiments driving investor reactions within the cryptocurrency space.
#BinanceTrends #LUNA+4.07% #lunac
The official passage of the Terra Luna Classic v2.3.2 upgrade proposal has resulted in a remarkable 25% increase in the price of LUNC tokens. This significant development signals a positive response from the community towards the proposed upgrade, showcasing a surge in investor confidence and enthusiasm following the approval.
The successful passage of the upgrade proposal for Terra Luna Classic, culminating in a substantial price upswing for LUNC tokens, underlines the impact and significance of protocol upgrades within the cryptocurrency ecosystem. This surge in price reflects the market's optimism and support for the proposed enhancements embedded in the v2.3.2 upgrade.
This article aims to delve into the implications of the approved upgrade proposal for Terra Luna Classic and the subsequent surge in the price of LUNC tokens. By analyzing this development, readers gain insights into the influence of protocol upgrades on token values and the broader market sentiments driving investor reactions within the cryptocurrency space.
#BinanceTrends #LUNA+4.07% #lunac
