Terra Luna Classic Community Passes Major Proposal, Could LUNC Reaches $0.0003 Soon?
The Terra Luna Classic community has put forward a proposal to rectify a significant issue that arose from a previous upgrade. The proposed upgrade aims to address an error related to the number of validators allowed on the network, which was mistakenly altered in a recent SDK update. This proposal, named Proposal 12133, seeks to restore the maximum number of validators to 110 to ensure the stability of the ecosystem. The community is currently showing strong support for the correction, with 63.81% of votes in favor of the proposal as of now.
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Recent Development on Tax2Gas Upgrade
In addition to this proposal, recent ecosystem developments such as the Tax2Gas upgrade have contributed to a positive community sentiment. These developments, along with efforts to enhance the security and efficiency of the ecosystem, are generating anticipation for a potential rally in the LUNC token.
Despite a recent 17% rally in the LUNC price, the token has seen a slight increase of only 1% today, trading at $0.00008175. The trading volume has also decreased by 38% in the last 24 hours, amounting to $11.36 million.
An analysis of the LUNC price suggests the possibility of a rally to $0.0003, contingent on breaking specific resistance levels. This optimism is attributed to the Terraform Labs Chapter 11 bankruptcy upgrade, which has positively influenced community sentiment.
Price Action
Meanwhile, the LUNA price has experienced a 2% increase, currently trading at $0.3819. The crypto reached a 24-hour high of $0.3832 and a low of $0.3684, with its trading volume declining by 32% to $27.66 million.
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Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.
