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🌖 Terra Luna Classic Defies TOP 100 Fallout with 35% Surge #TerraLunaClassic (#LUNC. ) recently surged by 35%, signaling a potential comeback despite trading below $0.0002. Its market capitalization is nearing $1 billion, hitting a 3-month high of $1.32 billion on March 5, 2024. The surge is attributed to the release of Terra chain's co-founder, #DoKwon , from prison in Montenegro, coinciding with upcoming events like the TerraForm Labs' hearing with the U.S. SEC on March 25. A significant blockchain upgrade introducing new functionalities by Genuine #labs is scheduled for today, promising enhanced scalability for decentralized applications, notably benefiting EnterpriseDAO. Technical indicators support the bullish momentum, with $LUNC breaking through support levels. Derivatives activity surged, with the 1000LUNC smart contract seeing a 38% daily spike to $199.06M. Binance users show strong bullish sentiment, with long positions outnumbering shorts significantly. #BTC

🌖 Terra Luna Classic Defies TOP 100 Fallout with 35% Surge

#TerraLunaClassic (#LUNC. ) recently surged by 35%, signaling a potential comeback despite trading below $0.0002. Its market capitalization is nearing $1 billion, hitting a 3-month high of $1.32 billion on March 5, 2024.

The surge is attributed to the release of Terra chain's co-founder, #DoKwon , from prison in Montenegro, coinciding with upcoming events like the TerraForm Labs' hearing with the U.S. SEC on March 25.

A significant blockchain upgrade introducing new functionalities by Genuine #labs is scheduled for today, promising enhanced scalability for decentralized applications, notably benefiting EnterpriseDAO.

Technical indicators support the bullish momentum, with $LUNC breaking through support levels.

Derivatives activity surged, with the 1000LUNC smart contract seeing a 38% daily spike to $199.06M. Binance users show strong bullish sentiment, with long positions outnumbering shorts significantly.

#BTC

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Paid But Canceled 🥺🥺🥺 A seller might accept your order, but then refuse to release the crypto after you pay. They may make excuses and ask you to cancel the order first. Never cancel an order until you receive your refund! #ScamRiskWarning #Megadrop #BTC #bitcoin #Token2049
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🌖 More on the Terra Luna Classic (LUNC) Proposals According to an explanation in regards to this proposal, “increasing the minimum commission is meant to increase the income especially for small validators to motivate them to invest in better infrastructure and increase resistance against attack.” Interestingly, the same can be said of Proposal 12094 “Proposal to decrease MaxBlockSize”. This has been approved officially by the Terra Luna Classic community after surpassing the threshold. The developer team #GenuineLabs was the chief architect of this proposal and is meant to decrease the MaxBlockSize from 5 MB to 2 MB to mitigate peer-to-peer spam. With all of these approved to serve the best interest of the ecosystem, Proposal 12095 – 10x Gas Fees which Crypto News Flash extensively covered was voted against because it could severely damage DApps and threaten the existence of an auto-compound module. In addition to these developments, the #TerraLunaClassic community pool balance has also reached a new milestone at an all-time high of 5 billion LUNC. As of April 21, the community pool held 5,005,468,596 $LUNC and 11,803,526 #USTC . This implies that developers and contributors have access to more funds. However, it has not been utilized to the maximum capacity. Contrary to the ongoing activities within the community, #LUNC✅ has failed to hold its ground as it breaks major support levels to fall by 9% in the last 24 hours, extending its 30-day decline to 39%. At press time, the asset was trading at $0.0001018 with a 5% decline in its 24-hour trading volume. However, analyst Javon Marks believes that the asset could stage a bullish reversal to surge by 270% amid the bull market. His prediction was based on the formation of a massive bull pennant pattern in the long timeline. #bitcoin
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🌖 Terra Luna Classic Votes to Increase Validator Commission Tera Luna Classic ($LUNC ) takes a drastic approach to revolutionize its ecosystem with a series of approved proposals subject to voting. Over the years, developers have pointed out possible risks to the likes of #Cosmos , #Solana⁩ , and the Polkadot ecosystem, proposing proactive measures to mitigate any future spam attack. To prevent such occurrence on the chain and to raise the minimum validators’ commission from 0% to 2.5%, Proposal 12097 has currently been subjected to voting with quorum and pass threshold reached. At press time, the proposal had received 35 “YES” votes in addition to 32% “NO”, 0.5% “NO WITH VETO”, and 32.50% “ABSTAIN” votes. From the vote, it is obvious most of the validators voted in favor of the proposal. Commenting on this, one of the top validators Allnodes has observed that the VP of the top 15 validators has reduced drastically, and would be significantly less with the 2.5% commission implementation. As a result of this, he and six other validators voted “NO” compared to 33 validators who voted “YES”. #ScamRiskWarning #BTC #bitcoin
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Quality Over Quantity For LUNC? Despite the collective effort to combat rising phishing attacks and Peer-to-peer (P2P) spam, Terra Classic’s developer activity has significantly plunged since March 29, 2024. Pointing to 2.95 in Santiment’s development activity index, the calm period accompanies a 32.7% price drop in LUNC value over the past 30 days. Apart from this setback, Terra Classic’s social metrics have also been overshadowed by competing altcoins and meme coins, as LUNC is now positioned in a historically low position, ranking at #140 in terms of global market cap. With a $644M market capitalization, LUNC is far from the $1 billion mark, last claimed in mid-March 2024. Nevertheless, Terra Classic holders are optimistic about the coin’s future due to the rapidly spiking Terra Luna Classic (LUNC) burn rate. As overall Terra Luna Classic burns are quickly approaching the 111 billion mark, this metric exposes a gradual growth in LUNC burns since the beginning of 2024. As of press time, #TerraLunaClassic (#LUNC✅ ) trades at $0.0001117, gaining 5% over the latest 7-day period. While the recent upward momentum provides some relief, #TerraClassic ($LUNC ) succumbed to a heavy crypto market correction on a monthly time frame, coming to grips with the 32.7% deficit and completely wiping out the meme coin-inspired Spring rally to $0.00022880 on March 5, 2024. #BTC #bitcoin
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Terra Luna Classic Is Reducing Block Size To Tackle P2P Scams The #TerraLunaClassic blockchain is set to receive several improvements related to the chain’s security after the $LUNC community unanimously passed proposal #12094 “To decrease MaxBlockSize”. Simply put, a block size is the maximum space needed for transactions to clear and store data on-chain. This proposal was submitted by Genuine Labs, the new developer team responsible for technical upgrades on the Layer-1 network. Arguing that Cosmos chains, Solana, and Polkadot had recently faced an epidemic of Peer-to-Peer (#p2p ) scams, the developers suggested reducing Terra Classic’s block size from 5 Megabytes (MB) to 2 MB. While this is believed to be a temporary band-aid, most #TerraClassic chain validators like All Nodes, Interstellar Lounge, and JESUS is LORD believe that a long-term solution will be introduced by Genuine #labs in the next quarter. Meanwhile, some members believe that the maximum block size could be lowered further to 1 MB in the future. #ScamRiskWarning
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