$LUNC Price Can Hit $1 After Latest Terra Luna Classic v2.4.2 Upgrade? #LUNC🔥
Terra Luna Classic major chain upgrade v2.4.2 was successfully implemented.
Total LUNC burned by the community has now surpassed 105 billion and wallet numbers surpassing 5.51 million.
LUNC price 1000% rally in the bull market to kick prices to $0.1
LUNC price is on a successful run this bull cycle backed by key developments on the Terra Luna Classic chain. LUNC price has now rallied over 30% in a week after profit booking due to two key events — the successful v2.4.2 upgrade and the release of Terra co-founder Do Kwon.
Terra Luna Classic v2.4.2 Upgrade
Terra Luna Classic major chain upgrade v2.4.2 was successfully implemented, with the transition to new binary and components. Primarily, IBC-Hooks will enable the onboarding of dApps on the Terra Luna Classic, with mostly notably Enterprise DAO.
Genuine Labs announced it was a smooth upgrade and validators gradually came live after the upgrade. The Terra Luna Classic developer group also announced progress on the Terra Classic Security Package upgrade. This will boost security, functionality, and interoperability. The developer team planned to complete all developments in 8 weeks.
The rise in development activity of Terra Luna Classic is one of the reason behind a massive increased in LUNC and USTC prices.
LUNC Burn and Wallet Numbers
Total LUNC burn has now surpassed 105 billion amid massive support from the crypto exchanges and projects. Binance has burned over 53.48 billion LUNC tokens, accounting for over 50% of the total burn.
New projects and exchanges such as Singapore-based WEEX are joining the burn campaign to reduce the circulating supply. While the burn narrative has picked up, the burn rate has dropped amid the rise in prices.
