Terra Luna Classic (LUNC) and TerraClassicUSD (USTC) holders rejoice! Both tokens are experiencing a significant price surge, following the news of Do Kwon's release by the Montenegro Supreme Court. While Terraform Labs is no longer directly involved with Terra Classic, this development, coupled with upcoming upgrades, paints a promising picture for the ecosystem.
Here's what's fueling the LUNC and USTC rally:
Price Increase: LUNC jumped an impressive 20% in 24 hours, with USTC rising by 12%. This positive momentum indicates renewed investor confidence in the project's future.
Increased Trading Activity: The price surge was accompanied by a significant rise in trading volume for both tokens, reflecting a vibrant market with potential for further growth.
Major Upgrade on the Horizon: The Terra Luna Classic chain is set for a v2.4.2 upgrade next week, focusing on enabling dApp (decentralized application) integration, potentially attracting new projects and users.
Enhanced Security and Functionality: The upgrade, along with additional developments planned by Genuine Labs, will focus on improving the security, functionality, and interoperability of the Terra Classic ecosystem.
Growing Developer Interest: The planned upgrades and rising number of wallets holding LUNC suggest a growing interest from developers and projects looking to build on Terra Classic.
Disclaimer: This information is for educational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions.

#lunc #ustc #terra #TrendingPredictions

TerraUSD Re-peg and Terra Luna (LUNC) Price

TerraUSD(#ustc ) is known as an algorithmic stablecoin running on the Terra network. This stablecoin is one of the core coins of the Terra network and is usually traded at $1. However, sometimes TerraUSD's peg may disappear and its price may fluctuate. In this case, the price of Terra Luna (#LUNC ) may also be affected.

Re-pegging TerraUSD is important to ensure the healthy functioning of the Terra network and increase users' trust in TerraUSD. If TerraUSD's peg is lost and its price departs from $1, a re-peg process is initiated to restore the balance of supply and demand in the Terra network. In this process, the price of TerraUSD is tried to be brought closer to the 1 Dollar level again, taking into account the supply and demand.

LUNC (Terra Luna Classic) is defying gravity! While the rest of the crypto market experiences a pullback, LUNC surges a remarkable 20%. This bullish sentiment indicates a promising future for Terra Luna Classic.
Here's what's driving the LUNC rally:
Strength in the Face of Weakness: LUNC stands out as a beacon of green amidst a sea of red. This resilience reflects strong investor confidence and the potential for further growth.
Active Trading and High Liquidity: A staggering 201 million LUNC tokens were traded in the past 24 hours, demonstrating a vibrant and liquid market for LUNC.
Binance Burns Fuel Growth: The ongoing token burning program by Binance actively reduces LUNC's circulating supply, potentially leading to long-term price appreciation.
Top 100 Recognition: LUNC has secured a coveted spot within the top 101 cryptocurrencies by market capitalization. This achievement reflects the project's growing maturity and recognition.
Analyst Predictions Favor LUNC: Experts predict LUNC's price to reach a range of $0.8 to $0.93 by April 5th, 2024, with an average of $0.87. This potential price increase is exciting news for LUNC holders.
While becoming a millionaire solely through LUNC investment is not a guarantee, the project's recent performance and positive indicators suggest a promising future. Remember, conduct your own research before making any investment decisions.

#lunc #USTC #LunaComunity #ustc

Terra Classic supporters have proposed a plan to re-establish USTC's peg with US dollar.

A community member, "Redlinedrifter," submitted the proposal with key insights about TerraUSD.

While it's not the first move by Terra community to revamp the stablecoin, USTC surged around 10% on the news.

TerraUSD (USTC), the famous algorithmic stablecoin that has since been renamed from UST, depegged from the US dollar around a year ago, causing the Terra ecosystem to collapse in its wake. In the latest development, suppers of the Terra Classic blockchain are devising a plan to revive the ecosystem by restoring its attachment to the USD.

Terra Classic community to restore USTC peg

In a recent proposal from a Terra Classic community member going by 'Redlinedrifter', the Terra Classic blockchain advocate is among those looking to revive the ecosystem of the algorithmic stablecoin by restoring the USTC token's value parity to the USD.

Focusing on "USTC incremental re-peg, buybacks, staking, and swaps," the proposal headlines:

USTC Repeg and Revitalisation of the Terra Classic Ecosystem through the Implementation of an Algorithmic Peg Divergence Fee & Buyback Protocol, Unidirectional Swaps and USTC Staking.

In the proposal, Redlinedrifter affirmed that while Do Kwon's decentralized money creation was a positive initiative, "serious issues need to be addressed" for the community to re-establish the token's value peg with the USD.

Further, Redlinedrifter suggested the "Divergence Protocol" idea. Notably, the working mechanism of this protocol is that it "applies an algorithmic/dynamic fee equal to the difference between the peg and the market price." Accordingly, the innovative mechanism would implement a dynamic fee structure to impose a fee relative to the deviation between the $1 peg and the token's market value.

The divergence fee structure represents a new strategy for addressing previous challenges that prevented the USTC stablecoin's ability to maintain its USD peg. Redlinedrifter concludes the proposal by saying:

I believe this proposal outlines an approach to revitalizing our ecosystem in an equitable manner that will appeal to both USTC and LUNC holders.

The proposal is up for discussion for a week on Agora before the community member submits a signaling prop to proceed. Below is a representation of the amount of engagement received.

Not the first time

Efforts by the Terra community to revamp Do Kwon's stablecoin idea are not new. In October 2022, they introduced a new "soft-pegged stablecoin" concept built atop the Terra Phoenix network through a whitepaper.

TerraUSD price reacts with a 10% uptick

TerraUSD (USTC) price has reacted to the proposed development with a surge of around 10%, rising from $0.019 to an intraday high of $0.022 on Friday before falling back to the current price of $0.020. An increase in bullish momentum could solidify the uptrend for the once-stable token.

If the northbound move sustains, TerraUSD price would soon flip the 50-day Exponential Moving Average (EMA) at $0.021 into support. Sidelined investors coming in at this level could bolster the uptrend, leading USTC to the 100-day EMA at $0.024.

In a highly bullish case, TerraUSD price could soon tag the $0.025 resistance level, denoting a 20% ascent from current levels.

The upward move by the Relative Strength Index (RSI) also supports the bullish thesis, indicating a newly found price strength as traders embrace USTC. Further, the RSI had just sent a bullish signal when it crossed above the Stochastic RSI on April 28. Traders heeding this call to buy USTC could increase chances for a further upside.

#Binance #ustc #lunc #luna #BullRun