đ How Is Terra Classic Faring Amid Market-Wide Pullback?
As governance proposal #12093 was nowhere near passing the threshold, prominent Terra Classic validators cited risks of centralization, ineffectiveness, and the devsâ anonymity. Certainly, the establishment of a #TerraClassic team in the way proposed would conflict with the recently applied Know Your Customer (KYC) requirement for all Terra Luna Classic developers.
Meanwhile, LUNCâs price continues to stagger during the market-wide crypto drawdown, which has seen Bitcoin ($BTC ) retesting pre-claimed support levels below $62K. LUNC now sports a market cap of $585,488,386 despite approaching a $1 billion market cap a month ago.
According to #CoinGecko , LUNC trades at $0.0001004 as of Press Time. The slight market rebound on Wednesday has put LUNC above the critical support of $0.0001, even though the altcoin slumped by 29% over the previous 30 days.
On a brighter note, experienced crypto analysts believe that $LUNC could repeat Decemberâs bull run of up to 500% if the price charts deliver a break in the multi-month bearish triangle pattern. Last December, #LUNCâ claimed $0.00025813 as the yearly peak, but the swift market correction wiped out those gains in the coming months, resulting in an early TOP 100 exit for the token.
