Terra Classic Integrates EVM for Future Advantages
The Terra Classic community has made a significant achievement by opening up the Terra platform to the Ethereum Virtual Machine (EVM). This move aims to make the Terra Classic chain more adaptable to new technologies in the crypto space. The announcement has generated excitement in the market, particularly regarding the LUNC token.
Terra Classic Aims to Harness EVM Functionality
The Terra community’s statement highlights the importance of EVM in the global crypto realm. EVM has established itself as a standard for blockchain development and supports over 910 separate chains. By aligning with EVM, Terra Classic aims to embrace emerging technologies and increase its popularity. Additionally, this integration will significantly enhance the chain’s processing power, enabling it to handle more transactions.
Currently, there is a favorable response to the proposal, with over 44% voting in favor and around 42% against. The community needs a 50% pass threshold for approval.
EVM support on Terra Classic will facilitate interoperability and attract projects like Curve DAO, Uniswap, ChainLink, and Hedera.
LUNC Price Decline
The LUNC price has experienced a slight decrease of 1.26% in the past 24 hours and is currently trading at $0.000123. However, it has shown notable gains of 5.80% on the weekly chart.
With the introduction of EVM support on Terra Classic, market enthusiasts anticipate a potential price boost in the near future.
Hot Take: Terra Luna Classic Embraces EVM Integration for Growth Potential
The recent integration of the Ethereum Virtual Machine (EVM) by Terra Luna Classic marks a significant milestone for their token. By embracing EVM functionality, Terra Classic aims to enhance its flexibility and expand its reach in the ever-evolving crypto market. This move is expected to attract more projects and increase transaction processing power. Although the proposal is still undergoing voting, the initial response has been positive, and there is anticipation for improved prices in the coming days. Overall, this strategic development positions Terra Luna Classic for future growth and establishes it as a player in the global crypto landscape.
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