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Terra (LUNA) price surges 10% as Binance announces support for the Phoenix software upgrade v2.4.

Binance, the world’s largest crypto exchange, announced its support for the Terra (LUNA) network upgrade.

The Terra community approved the Phoenix software upgrade v2.4 through an on-chain proposal, with the majority voting in favor. As a result, #LUNA’s price surged nearly 10% to reach a high of $0.69 in the last 24 hours.

Binance Supports Terra (LUNA) Phoenix Upgrade

Binance officially announced its support for the Terra (LUNA) Phoenix v2.4 software upgrade. The upgrade is scheduled to take place on July 18 at 13:00 UTC, at block height 5,994,365.

Binance will halt #LUNA deposits and withdrawals one hour prior to the upgrade. Nevertheless, LUNA trading will continue normally during the network upgrade.

Binance will manage all technical aspects for users holding LUNA in their Binance accounts during the upgrade. After ensuring network stability, they will reopen LUNA deposits and withdrawals without any additional notifications.

The Terra (LUNA) community approved the proposal with an overwhelming 98.22% “Yes” and 1.78% “No” votes. On June 30, Terraform Labs upgraded Terra’s testnet chain Pisco and integrated various updates. The Phoenix software upgrade v2.4 will bring these updates to the Phoenix-1 mainnet.

LUNA Price Surges 10%

Both Terra (LUNA) and Terra Classic (LUNC) tokens experienced a descending channel pattern breakout, resulting in a remarkable 20% surge for LUNC and an impressive 50% surge for #TerraClassicUSD (USTC) in just one week.

LUNA’s price surged nearly 10% in the last 24 hours and 20% over the past week, reaching $0.69. The 24-hour low and high were recorded at $0.62 and $0.69, respectively.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

$USTC $LUNC $LUNA

The #TerraClassicUSD (#USTC ), the algorithmic stablecoin of the Terra blockchain, has recently seen a notable increase in value. This article will examine the main factors behind USTC's rise.Key Points of USTC's Surge:1. Proposal to Re-stabilize at $1:Last week, the community proposed a solution to re-stabilize $USTC to $1. This proposal is currently under discussion and has not yet been put to a vote. It includes suggestions to limit the supply of USTC. This news increased investor interest in USTC, leading to a price increase.2. Mint Cash and Airdrop Expectation:Terra's former developer, Daniel Hong, introduced a new stablecoin, Mint Cash, supported by Bitcoin. Hong announced his transition to this new project and that Mint Cash would conduct an airdrop. This airdrop is particularly aimed at UST or LUNA holders and USTC investors who meet certain conditions. The anticipation of the airdrop caused a significant increase in USTC’s price.3. Market Speculations and Optimism:The sudden rise in USTC's price also triggered market speculations and general optimism among investors. Many investors perceived this surge as a sign of long-term recovery, leading to increased investment in USTC.Investment Risks and Future OutlookWhile the recent price surge of USTC is exciting, investors should consider the risks involved. The cryptocurrency markets are prone to high volatility and uncertainty. It is still unclear when or if the airdrop will happen. Therefore, investors are advised to be cautious and closely monitor market movements.USTC's recent rise marks a significant event in the cryptocurrency world. The rise can be attributed to factors like community proposals, new projects, and expectations of airdrops. However, as with any investment decision, caution and comprehensive research are important in this field.$LUNC $LUNA

Terra Classic (LUNC) is doubling down on its deflationary campaigns, with record staking volume and lined-up mega token burns ahead.

Read more on: https://thecryptobasic.com/2024/02/01/terra-classic-lunc-hits-historic-staking-milestone-ahead-of-mega-burns/
#TerraClassicUSD #LUNCBurning #Crypto #CryptonewswithJack #CryptoNewsFlash

The Terra Classic community has passed a critical proposal to resolve the sequence mismatch issue, coinciding with increased social mentions for LUNC and USTC as the push to $1 gains steam.
Read more on: https://thecryptobasic.com/2023/11/28/lunc-and-ustc-top-trends-table-amid-push-to-1-as-terra-classic-passes-crucial-proposal/
#TerraClassic #TerraClassicUSD #LUNCPricePrediction #LUNC/USTC #CryptoNews🔒📰🚫

Terra Classic (LUNC) has shocked many observers as its price jumped 61% to hit $0.0002614 in an ongoing epic rally.
Read more on: https://thecryptobasic.com/2023/12/04/terra-classic-lunc-jumps-61-to-breach-key-resistance-is-0-0003-in-view/
#TerraClassic #TerraClassicUSD #TerraClassicRevival #LUNCPricePrediction #CryptoNews🔒📰🚫

Renewed interest in Terra Classic (LUNC) has led to speculation about what it will take for the coin to return to its previous highs.
Read more on: https://thecryptobasic.com/2023/12/06/how-high-must-terra-classic-lunc-go-to-reclaim-40-billion-market-cap/
#TerraClassic #TerraClassicRevival #TerraClassicUSD #LUNCPricePrediction #CryptoNews🔒📰🚫

TerraClassicUSD (USTC), the algorithmic stablecoin of the Terra ecosystem, has soared 301% amid a confluence of bullish fundamentals.
Read more on: https://thecryptobasic.com/2023/11/27/terraclassicusd-ustc-goes-parabolic-with-301-surge-road-to-1-ahead/
#Terra.Classic #TerraClassicUSD #LUNC #LUNC/USTC #CryptoNews🔒📰🚫

Terra Classic (LUNC) has recorded a new high in daily transactions as users gradually return to the controversial blockchain ecosystem.
Read more on: https://thecryptobasic.com/2023/11/24/terra-classic-transactions-surge-to-590k-amid-ustc-and-lunc-revival/
#TerraClassicUSD #LUNCPricePrediction #Crypto #CryptoTrends2024 #CryptoNews🔒📰🚫

The Terra Classic community has initiated a new proposal to rejuvenate the TerraClassicUSD (USTC) stablecoin and the LUNC tokens, seeking to push their value to $1. 
Read more on: https://thecryptobasic.com/2023/11/21/terra-classic-community-makes-another-push-to-bring-ustc-and-lunc-to-1-in-new-proposal/
#TerraClassic #TerraClassicUSD #LUNCPricePrediction #LUNCDream #CryptoNews🔒📰🚫

The price of Terra Luna Classic surged 30% in one month as the team intensified efforts to revive the values of LUNC and USTC back to $1. 
Read more on: https://thecryptobasic.com/2023/11/21/terra-luna-classic-surges-30-amid-ongoing-efforts-to-revive-ustc-and-lunc-prices/
#TerraClassic #TerraClassicUSD #LUNCPricePrediction #CryptoTreasure #CryptoNews🔒📰🚫

The Terra Classic (LUNC) community continues to make progress toward a long-term plan to revive its ecosystem.
Read more on: https://thecryptobasic.com/2024/01/22/lunc-and-ustc-repeg-plan-matches-on-with-701m-terra-classic-burn/
#TerraClassicUSD #LUNC/USDT. #Crypto #Cryptocurrency #CryptonewswithJack

The Terra Classic community has doubled down on the push to push the price of LUNC to $0.01 with a recent 1 billion token burn.

Read more on: https://thecryptobasic.com/2024/01/29/terra-classic-sets-1b-tokens-ablaze-in-push-to-hit-0-01/
#TerraClassicUSD #LUNCPriceSurge #Crypto #CryptoNews🔒📰🚫 #CryptonewswithJack

The Terra Classic (LUNC) community has voted en masse for a proposal that, when passed, will usher in a more secure and functional ecosystem.

Read more on: https://thecryptobasic.com/2024/01/26/terra-classic-greenlights-key-parameter-change-proposal-for-lunc-rebirth/
#TerraClassicUSD #LUNCBuyOrSell #Crypto #CryptonewswithJack #CryptoNewsUpdate