Official Approval of Terra Luna Classic v2.3.2 Upgrade Proposal Triggers 25% Surge in LUNC Price

Official Approval of Terra Luna Classic v2.3.2 Upgrade Proposal Triggers 25% Surge in LUNC Price


Terra Luna Classic Resolves Sequence Mismatch Issue

The Terra Luna Classic community has successfully passed a proposal to address the sequence mismatch issue that was affecting some validators. This problem had resulted in certain accounts being unable to interact with the chain. The community had previously approved a proposal for resolving this issue, but it was later changed to an upgrade proposal for easier implementation by validators and node operators.

Terra Luna Classic Passes v2.3.2 Upgrade Proposal

The Terra Luna Classic community has given full support to Proposal 11890, which is the upgrade to version 2.3.2 aimed at resolving the sequence mismatch issue. The proposal required approval from the community for the on-chain deployment of the terrad client v2.3.1.

According to CoinGape, the binary has been changed to version v2.3.2 (v6_1) to meet the requirements of the upgrade proposal. The chain will halt at block 15751600, which is estimated to occur at 1:18 pm on December 8.

This proposal has received unanimous support from the community, with all 46 participating validators voting “Yes.” This marks the first proposal in several months to receive 100% approval.

LUNC Price Surges by 25%

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Terra Luna Classic’s price, LUNC, has experienced a significant rally of 25% in the past 24 hours, currently trading at $0.000140. The price range for the day has been between $0.000114 and $0.000144, with a notable increase in trading volume by 250%. This surge in price is attributed to various factors, including the rise of TerraClassicUSD (USTC), which has seen a 400% increase over the past month.

USTC Price and Binance’s LUNC Burn

USTC, the cryptocurrency associated with Terra Luna Classic, is currently trading at $0.053, showing a 4% increase after a recent rally. The price range for the day has been between $0.0448 and $0.0549, but the trading volume has decreased by 10% in the past 24 hours.

The recent rally in LUNC and USTC prices can be attributed to Binance’s burning of 4 billion LUNC tokens.

Hot Take: Terra Luna Classic Upgrades and Price Surge

Terra Luna Classic’s successful upgrade proposal and resolution of the sequence mismatch issue have demonstrated the community’s unity and commitment to maintaining a reliable blockchain network. This development has also contributed to a significant price surge in LUNC, with a 25% increase in just 24 hours. The rally is further fueled by the rise of USTC and Binance’s token burn. These positive developments indicate growing interest and confidence in Terra Luna Classic among traders and investors.

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