As a seasoned analyst with years of experience navigating the volatile world of cryptocurrencies, I find myself observing the current situation of Terra Luna Classic (LUNC) with a mix of concern and intrigue. The alleged violation of network rules by validator “JESUSisLORD 2” is a matter that should be taken seriously. While it’s true that some gray areas exist in the rulebook, setting a precedent for such behavior could potentially undermine the integrity of the entire ecosystem.
Update from LUNC Community:
Proposal to Address Violation of Terra Luna Classic Rule
A Terra Luna Classic community member has submitted a proposal for discussion in a commonwealth forum alleging that JESUSisLORD 2 (JIL2) validator is violating the network rule. He claimed that the validator has created a secondary validator under the same entity to circumvent the rule, violating DynComm rule.
Members of the LUNC community believe this action establishes a damaging pattern, yet others question if there’s an explicit rule about a second validator. Rather than taking swift disciplinary measures, this proposal seeks to issue a formal caution to the validator, thus avoiding immediate penalties.
As a researcher, I’ve observed that within the Terra Luna Classic community, a dynamic commission system has been implemented with the aim of fostering fairness and thwarting potential centralization issues. This system intelligently adjusts the commission rate in response to a validator’s influence over voting power, ensuring a more equitable distribution among other participants.
A LUNC validator known as Happy Catty Crypto, who has substantial voting power, pointed out that the blockchain is experiencing a considerable level of misuse. It was disclosed that a community member named Rexyz manages three nodes, one for each sector of his project. Other community members concur that it’s important to purify the chain in order to uphold ethical norms.
LUNC Price Falls Below Support Amid the News
In simpler terms, during the recent crash in the cryptocurrency market, tokens within the Terra Luna Classic ecosystem experienced a significant drop in value. Prices for LUNC and USTC fell by 14%, even as traders closed their long positions, despite Terraform Labs launching the Shuttle Bridge.
LUNC price failed to hold above the $0.000080 support in the last 24 hours amid market uncertainty, with the price currently trading at $0.00007907. The 24-hour low and high are $0.00007738 and $0.00008084, respectively. Moreover, trading volume has slipped by 32% in the last 24 hours.
The current price of Terra Luna Classic is displaying a downward trend, trading below its 50-day moving average (which is now red), and it has fallen beneath a descending trendline. This suggests that the price is experiencing pressure, and this is further supported by the Relative Strength Index (RSI) moving lower as well.
Currently, USTC’s price has surged by over 2%, reaching $0.0161. This increase comes despite a 14% decrease in the past week, which seems to have attracted traders who are taking advantage of the dip. Interestingly, there was a significant drop of approximately 47% in trading volume within the last day.
Read More
- ENA PREDICTION. ENA cryptocurrency
- USD PHP PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- SHIB PREDICTION. SHIB cryptocurrency
- Red Dead Redemption: Undead Nightmare – Where To Find Sasquatch
- LUNC PREDICTION. LUNC cryptocurrency
- USD COP PREDICTION
- USD ZAR PREDICTION
- BRISE PREDICTION. BRISE cryptocurrency
2024-08-31 19:18