LUNC Price Soars As Terra Luna Classic v3.0.1 Upgrade Proposal Officially Passed

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As a researcher with a background in blockchain technology and cryptocurrency markets, I’m closely monitoring the developments in the Terra Luna Classic ecosystem. The recent approval of the v3.0.1 upgrade proposal by the community and validators is an exciting development that has led to a surge in prices for LUNC and USTC.

Price of LUNC: The Terra Luna Classic community has overwhelmingly approved the version 3.0.1 software update proposition, with a near-consensus of 99.9% from both community members and validators. Proposed by the Terra Luna Classic Layer 1 development team, Genuine Labs, this upgrade includes significant modifications to the chain such as SDK 47.

In response to the latest announcement, the values of LUNC and USTC surged by approximately 5% apiece over the past couple of hours. The question remains: will this bullish trend persist for LUNC and USTC?

Terra Luna Classic Community Approves Upgrade Proposal

As a crypto investor in Terra Classic, I’m excited to share that Proposal 12110, titled “Genuine Labs’s proposal for v3.0.1 Upgrade,” has exceeded the required quorum for approval, with five days left in the governance voting period. Once validated, the Terra Classic blockchain will pause at height 18,303,000, prompting validators to replace the outdated binary with a newer version. The anticipated upgrade is scheduled for June 2, 2024, at 17:44 UTC, according to StakeBin’s countdown.

The Terra Luna Classic community and validators have shown universal approval for the proposition. With a staggering 99.9% affirmative votes, it is clear that this upgrade holds significant value for enhancing the chain’s efficiency, resilience, and security. Notably, all 38 participating validators, including Orion, Interstellar Lounge, Stakely, Luna Station 88, and StakeBin, have cast their votes in support of this initiative.

According to CoinGape’s report, this update encompasses several significant components such as SDK version 0.47, wasmd version 0.45, ibc-go version 7, and a fix for p2p storm issues. These elements aim to improve the functionality and efficiency of networks.

LUNC and USTC Prices Jump

As a researcher studying the Terra Luna Classic ecosystem, I’ve observed noticeable price surges for its tokens recently. This upward trend can be attributed to significant increases in trading volumes and open market interests. Nevertheless, it’s important to note that these prices have yet to breach crucial resistance levels.

In the past day, Terra Classic’s price surged by 5%, while it saw a significant gain of 12% over the last week. At present, you can buy Terra Classic for $0.0001156 per unit. The lowest and highest prices in the previous 24 hours were recorded at $0.0001103 and $0.0001162 respectively. Moreover, there has been a notable uptick of 45% in trading volume within the last day, pointing towards heightened investor attention.

As a crypto investor, I’ve noticed a noteworthy development in the LUNC market over the past day. The open interest for both LUNC and its futures surged by 9% within the last 24 hours. Moreover, there was a modest increase of 3% in just the previous hour. This upward trend suggests that derivatives traders are optimistic about price growth, fueled by positive sentiments circulating throughout the industry.

Currently, USTC’s price hovers around $0.02276 in a horizontal trend. Within the last 24 hours, the price reached a low of $0.02204 and a high of $0.02277. There has been a 22% increase in USTC’s value this month.

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2024-05-27 17:58