As a researcher with a background in cryptocurrency markets, I’ve been closely monitoring the recent developments surrounding TerraClassicUSD (USTC) and Luna Classic (LUNC). The sudden surge in USTC price by 9% over the last 24 hours, accompanied by an impressive increase in trading volume of over 800%, has indeed caught my attention.
As a crypto investor, I’ve noticed an impressive 9% price surge in TerraClassicUSD (USTC) over the past 24 hours. This growth is driven by a substantial increase in trading volume, which has soared beyond the 800% mark. USTC currently holds the 67th spot in terms of trading volume, leaving many in the crypto community taken aback by this sudden boost. With renewed optimism, one can’t help but wonder if there are revival plans underway that could potentially push USTC back up to $1.
Terra Luna Classic Proposal For USTC Repeg
Proposal 12102, titled “The Ultimate Repeg Plan: A Community-Initiated Peg Stabilization Proposal,” is currently being voted on within the Terra Classic Station wallet. The objective of this proposal is to develop a robust and community-governed system for gradually restoring and maintaining the USTC‘s parity with its dollar peg.
The proposition is founded on three primary components. First, stakers must securely deposit a certain quantity of USTC alongside their LUNC delegations to be eligible for maximum staking rewards. Second, should the price of USTC decrease, stakers are obligated to lock away extra USTC for full reward earnings. Lastly, following the repeg event, stakers no longer need to retain the additional USTC balance to continue receiving rewards and can sell any excess USTC for profit.
As a crypto investor, I’ve noticed that the community response to this proposal has been quite divided. With only 18% of the votes coming in as “Yes,” it’s clear that there is significant opposition. Some validators, such as Interstellar Lounge, JESUSisLORD, and Community First LUNC, have voiced their concerns, stating that they don’t believe the proposal holds any value. On the other hand, validators like LBUN Project and StakeBin, among others, see potential in the proposed narrative and think it could help revive USTC.
LUNC Price Follow Similar Rally?
As a crypto investor, I’m excited to share that according to my analysis, Terra Classic (LUNC) has the potential for a significant price increase. Analyst Javon Marks’ latest assessment suggests that LUNC could rally more than 5 times its current price. If this prediction holds true, we might see LUNC reaching a new peak of $0.000593 – an exciting prospect for those holding the coin!
In the past day, the value of LUNC surged by 1%, fueled by widespread market purchases. At present, it is being exchanged for $0.0001091. The highest and lowest prices during this period were $0.0001084 and $0.0001221, respectively. Additionally, the trading volume has significantly risen by over threefold in the last 24 hours.
As a researcher studying the cryptocurrency market, I’ve noticed an impressive surge in trading activity for USTC and LUNC. Specifically, there has been a significant rise in buying by futures traders. This trend is reflected in the drastic increase in USTC futures open interest, which has spiked by over 70% within the past 24 hours.
Read More
- SOL PREDICTION. SOL cryptocurrency
- USD PHP PREDICTION
- USD COP PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- TON PREDICTION. TON cryptocurrency
- Strongest Magic Types In Fairy Tail
- AAVE PREDICTION. AAVE cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- ENA PREDICTION. ENA cryptocurrency
- GLMR PREDICTION. GLMR cryptocurrency
2024-05-07 00:16