Terra Luna Classic Community Passes Key Proposal, LUNC To $0.0003?

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As a seasoned analyst with years of experience navigating the cryptocurrency market, I must say that the recent developments surrounding Terra Luna Classic have piqued my interest. The community-led proposal to correct a previous upgrade error and restore stability to the ecosystem is a testament to their resilience and adaptability in the face of adversity.

The Terra Luna Classic community recently announced a plan, which seems to have sparked enthusiasm among investors. This plan is designed to rectify a significant mistake made during an earlier update. Importantly, this proposal has generated conversations about its possible effects on LUNC’s price, following a 17% surge in value last week. However, the price has struggled to sustain its upward trend this week due to turbulence in the wider crypto market.

Regardless, there appears to be a positive sentiment within the community about an upcoming surge, fueled by community-led improvements and recent security enhancements and advancements.

Terra Luna Classic Proposal Sparks Community Interest

The Terra Luna Classic community has unveiled a significant plan aimed at making an essential adjustment. This proposal is designed to rectify a past upgrade issue that, if left unaddressed, could potentially have a substantial impact on the future development of the Terra system.

The recently proposed update for Terra, known as Proposal 12133, primarily targets rectifying an error regarding the number of validators allowed on the network, an adjustment that was inadvertently altered during a recent SDK update. This current upgrade aims to address this problem by returning the maximum number of validators back to 110, thereby maintaining the stability of the ecosystem.

The issue originated from a module within number 12125 that incorrectly updated outdated code during the software development kit (SDK) update, as suggested by recent revelations. However, there’s been a strong response from the community to rectify this matter, with 63.81% of votes already in favor. It is worth mentioning that the voting on this proposal, which was initiated on September 13, will conclude in just two more days.

Simultaneously, the recent advancements in our ecosystem, such as the Tax2Gas update, have sparked optimism within the community. Furthermore, other recent improvements geared towards enhancing the security and performance of our ecosystem have drawn notice from market observers. This increased attention is helping to fuel a highly anticipated surge in the value of our LUNC token.

LUNC Price Rally To $0.0003 Imminent?

The Terra Luna Classic price was up about only 1% today and exchanged hands at $0.00008175 during writing, after rallying over 17% in the prior week. Its trading volume also noted a slump of 38% in the last 24 hours to $11.36 million.

In other words, a current examination of LUNC’s price suggests a possible increase up to $0.0003 could occur if it overcomes specific resistance points in the future. This bullish outlook is largely based on the positive impact of Terraform Labs’ Chapter 11 bankruptcy update, which seems to have improved the overall community sentiment recently.

Currently, the LUNA price is soaring by more than 2%, trading at around $0.3819. This crypto has reached a peak and a trough of $0.3832 and $0.3684 in the last 24 hours respectively. Notably, the volume of LUNA transactions has decreased by 32% to approximately $27.66 million.

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2024-09-17 17:46