Terra Classic Community Approves Key Transfer Proposal
The Terra Classic community has successfully passed a significant proposal to transfer access to the CoinMarketCap dashboard to Allnodes, a prominent validator in the ecosystem. This decision follows a failed attempt to engage Terraform Labs for the same transfer, resulting in a lack of response from the company. In light of these developments, both LUNC and USTC have been displaying bullish momentum, breaking through key resistance levels.
Proposal Overview: Transfer of CoinMarketCap Dashboard Access
The proposal titled “Request for CoinMarketCap Dashboard Access to be Transferred to Allnodes” secured a decisive majority with over 76% in favour. This allows Allnodes to manage and update critical dashboard information related to the Terra Classic ecosystem on CoinMarketCap, covering social media links, website information, and more. Despite the request for access transfer directed at Terraform Labs, no action was taken.
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In prior communications, Allnodes indicated readiness to act as a temporary custodian for these access rights, promising to implement necessary amendments on CoinMarketCap following governance voting outcomes. The proposal encountered minimal opposition, receiving only 0.20% votes against it and 0.23% marked as ‘No with veto,’ alongside an abstention vote from Allnodes.
Market Performance: LUNC and USTC Price Dynamics
In the wake of this pivotal governance development, the price of LUNC experienced a 4% increase over the past 24 hours, currently trading at $0.0001016. The coin recorded a 24-hour low of $0.00009656 and a high of $0.0001042. Analysts anticipate a potential surge of 480% for Terra Luna Classic as the burn rate continues to escalate.
Data from Coinglass indicates a noteworthy increase in open interest for LUNC futures on Binance and Bybit, climbing over 15% in the last day, signalling robust activity among derivatives traders. Conversely, the price of USTC saw a surge of over 5%, now trading at $0.02269. However, trading volume has experienced a significant drop of 32% in the last 24 hours, and USTC remains down more than 1% over the week.
Read Also: LUNC Price To Hit 480% Surge Amid Rising Burn Rate, Analyst Predicts
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