Breaking NEWS: LUNC Price To Reach $3 Soon?

#ETHETFS #PEPE‏ #altcoins #BinanceLaunchpool #BlackRock Terra Classic is currently voting on a significant proposal aimed at re-enabling interblockchain communication IBC with the Osmosis protocol. it will reinstate transfers between Terra Classic and Osmosis. This move comes after the expiration of Client ID 07-tendermint 12 on the columbus-5 network, which previously referenced the Osmosis validator set. Today, Terra Classic LUNC is trading at $0.000106 with a 24-hour trading volume of $11.19 million. a market capitalization of $610.85 million and a market dominance of 0.03%. Over the past 24 hours, LUNC's price has declined by 2.79%.

LUNC reached its peak price of $119.01 on April 5, 2022. Its lowest point occurred on May 13, 2022, when it dropped to $0.00001651. Since this all-time low, the highest price LUNC has achieved is $0.000590.

Currently, the price prediction sentiment for Terra Classic is bearish, despite the Fear & Greed Index indicating a level of 72, which falls under the Greed category.

Terra Classic's circulating supply stands at 5.79 trillion LUNC out of a maximum supply of 6.88 trillion LUNC. The annual supply inflation rate is -1.49%, indicating a decrease of 87.43 billion LUNC over the past year.

Proposal 12104, known as "Reactivate Osmosis IBC," is currently under consideration on the Station wallet. This proposal, introduced by developer Fragwuerdig, who is a former core development team member, aims to re-enable interblockchain communication (IBC) between Terra Luna Classic and Osmosis.

Recently, Terra Classic community member and validator Vegas pointed out the need to update the Osmosis IBC client to ensure the smooth operation of interchain transfers between LUNC and Osmosis. The current client, identified as 07-tendermint-12, needs to be upgraded to version 07-tendermint-250 for seamless IBC functionality.

The proposal has received overwhelming support, with over 96% of votes in favor so far. However, there is a small contingent opposing it, with 3% of votes marked as "No with veto.