Terra Luna Classic Community Votes To Revive LUNC and USTC
The crypto market was buzzing on Monday as the community voted to pass a proposal that could bring back the Terra Luna Classic (LUNC) and USTC tokens. The proposal aimed to secure approval for the incorporation of a dynamic validator commission module in the terrad client v2.3.1. The votes were overwhelmingly in favor of the proposal, with 99.96% supporting it.
Following the news, the price of TerraClassicUSD, the ecosystem’s stablecoin, surged by 37% in 24 hours and showed significant gains over the past week and month. LUNC also experienced an 8.2% increase in 24 hours and saw positive growth over the past week and month.
Terra Luna Classic Price Prediction: Can LUNC Sustain The Rally To $0.0002
LUNC received strong support in the last 24 hours, pushing its price above $0.0001. The Moving Average Convergence Divergence (MACD) indicator suggests a bullish outlook, with traders likely to open new long positions as long as certain conditions are met.
To sustain its rally, LUNC must maintain support above $0.0001 and break through the next resistance at $0.00013. If successful, there is potential for Luna Classic to reach $0.0002.
USTC/USDC Pair Listed On Binance Futures
Binance announced the listing of the “USDⓈ-M USTC Perpetual Contract” on Binance Futures with up to 50x leverage. The contract is settled in USDT and is based on the stablecoin USTC. The funding rate cap has been set at +2.00%/-2.00%, and the funding fee settlement occurs every four hours.
Hot Take: Terra Luna Classic’s Resurgence and the Future of USTC
The recent rally in the price of Terra Luna Classic (LUNC) and the community’s efforts to revive USTC have sparked excitement in the crypto community. With strong support and positive technical indicators, LUNC has the potential to sustain its rally and reach new highs.
Additionally, the listing of the USTC/USDC pair on Binance Futures provides further opportunities for traders to participate in the USTC market. As developments continue in the Terra ecosystem, there is hope that USTC can reclaim its $1 peg and regain its former glory.
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