Terra Luna Classic Community Approves v2.2.1 Upgrade Proposal
The Terra Luna Classic community has unanimously approved a proposal for the v2.2.1 core upgrade, which was submitted by the L1 Terra Classic Task Force (L1TF) core developer group. This proposal will bring important changes to the blockchain and implement key changes that were previously approved through governance voting. The upgrade is supported by top validators in the community, including Allnodes, Interstellar Lounge, HappyCattyCrypto, Stakely, and 1maxfee. The L1TF developer team, led by Vinh Nguyen, is ready to implement the upgrade at block height 14,514,000. The v2.2.0 core upgrade includes upgrades to the cosmos SDK, tendermint migration to CometBFT, and IBC-go to v6, among other improvements.
LUNC and USTC Prices Face Selling Pressure
Despite the recent approval of upgrade proposals, the prices of Terra Luna Classic (LUNC) and USTC continue to face selling pressure. Both cryptocurrencies have experienced a decline in value amidst the broader crypto market sell-off. In the past 24 hours, LUNC price has fallen by 5%, currently trading at $0.000056. The 24-hour low and high for LUNC are $0.0000565 and $0.0000605 respectively. Similarly, USTC price has decreased by over 4% during the same period, with the current trading price at $0.012. The 24-hour low and high for USTC are $0.0119 and $0.0132 respectively.
Hot Take: Terra Luna Classic Upgrades Blockchain with v2.2.1 Proposal Approval
The Terra Luna Classic community has given the green light to the v2.2.1 core upgrade proposal, marking a significant development for the blockchain. The unanimous approval and support from key validators highlight the community’s confidence in the upgrade’s potential benefits. With important changes and improvements included in the upgrade, such as the splitting of burn tax to the distribution module, the Terra Luna Classic blockchain is set to evolve and enhance its capabilities. However, despite these positive developments, the prices of LUNC and USTC continue to face selling pressure. The broader market sell-off plays a role in this downward trend, and it remains to be seen how the upgrade will impact the long-term value of these cryptocurrencies.
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