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Tag: LUNC Staking Initiative

Terra Classic (LUNC) Community Rejects USTC Burn Proposal Amid Legal and Technical Concerns
20Dec By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Terra Classic (LUNC) Community Rejects USTC Burn Proposal Amid Legal and Technical Concerns

The Terra Classic (LUNC) community faces a pivotal moment as it rejects a proposal to burn 800 million USTC due to concerns over technical complexities and potential legal implications. The decision reflects the community's commitment to finding alternative solutions for reducing the circulating supply while navigating challenges. Read Also: INDODAX Celebrates Milestone with Addition of BoneShibaSwap (BONE) to Crypto Marketplace Rejected Proposal and Community Sentiment In a crucial vote, the Terra Classic community turned down Proposal 11913, titled "RH MultiSig Wallet – Burn 800m via Update to Terrad Client." The proposal aimed to burn dormant USTC held within the Risk Harbor multisig wallet. However, it received only 14.24% "Yes" votes, with a significant 50.02% "Abstain" vote, and...
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Montenegro Appeals Court Decision Sparks Surge in Terra-backed Tokens as Do Kwon’s Extradition Revoked
19Dec By CryptolifedigitalNo Comments
Terra Classic (LUNC)

Montenegro Appeals Court Decision Sparks Surge in Terra-backed Tokens as Do Kwon’s Extradition Revoked

In a surprising turn of events, the Montenegro Appeals Court has ruled in favour of Do Kwon, the ex-co-founder and ex-CEO of Terraform Labs, revoking his extradition for criminal trials in South Korea and the U.S. This legal development has significantly impacted the prices of Terra-backed tokens, including LUNA, LUNC, and USTC, sending them on an upward trajectory. Montenegro favors Do Kwon The Montenegro Appeals Court sided with Kwon's attorneys, citing significant violations of criminal procedure provisions in the High Court's initial decision. The court's decision to halt Kwon's extradition has fueled optimism in the Terra ecosystem, reflected in the notable price surges of Terra-backed tokens on Tuesday. Read Also: Terraport Finance Fuels Enthusiasm as $LUNC Aims for $1 Following...
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Major Governance Proposal Passes in LUNC: On-Chain Tax Increase to Boost Burn Rate, Community Pool, and Staking Rewards
18Dec By CryptolifedigitalNo Comments
Terra Classic (LUNC)

Major Governance Proposal Passes in LUNC: On-Chain Tax Increase to Boost Burn Rate, Community Pool, and Staking Rewards

In a landmark decision, the LUNC community has voted in favour of governance proposal #11933, signalling a significant shift in the project's economic model. The proposal, spearheaded by community member JwesusisLord, aims to increase the on-chain tax from the current 0.5% to a new rate of 1.5%. This adjustment will be achieved through a breakdown of 1.2% for the burn tax (maintaining the original burn tax), 0.15% allocated to the community pool, and another 0.15% directed towards staking rewards. Read Also: Crypto Market Update: XRP Surges as Major Assets Experience Profit-Taking https://twitter.com/ForTheCross_CH/status/1736528030242308211 The proposed changes, if implemented, are poised to have a triple impact on the project's dynamics. Notably, the burn rate from the tax will ...
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Terra Classic (LUNC) Faces 20% Price Crash Following Network Upgrade as Founder’s Extradition Looms
12Dec By CryptolifedigitalNo Comments
Terra Classic (LUNC)

Terra Classic (LUNC) Faces 20% Price Crash Following Network Upgrade as Founder’s Extradition Looms

Terra Classic (LUNC), the native token of the Terra blockchain, is grappling with a 20% price crash after the recently completed v2.3.2 network upgrade. This setback comes just days after the cryptocurrency experienced a parabolic rise, rallying around 200% over the past month. Despite the optimistic surge, the recent price decline has overshadowed the token and related assets, including Terra Classic USD (UST) and Terra (LUNA). Read Also: Crypto Analyst Predicts XRP Surge in 2024 Amid Regulatory Developments Since November 11, LUNC's price soared from $0.00008355 to $0.000249, marking a significant recovery for investors who weathered the catastrophic collapse of the Terra ecosystem in May 2022. Although LUNC is far from its all-time high of $119, set on April 5, 2022, investors are...
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Terra Classic (LUNC) Faces Challenges but Holds Strong Potential: Google Bard Predicts Price Movements by December 2024
10Dec By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Terra Classic (LUNC) Faces Challenges but Holds Strong Potential: Google Bard Predicts Price Movements by December 2024

In recent developments, Terra Classic (LUNC) has experienced a slowdown in its price momentum, dipping below the crucial support level of $0.0002 after a series of substantial surges. Currently trading at $0.0001917, the digital asset has witnessed a 4.66% price decline in the last 24 hours. Despite this setback, LUNC still boasts an impressive 43.14% gain over the past week and an astounding 196.82% increase in the last month. The cryptocurrency community is closely monitoring the situation, hoping for a continued uptrend. As the Bitcoin halving is scheduled for April 2024 and with an overall bullish sentiment in the crypto market, attention has turned to Google Bard for insights into how these factors may impact LUNC's price by December 2024. Read Also: LUNC and USTC: Unveiling the...
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Terra Classic (LUNC) Surges Ahead of Anticipated Bitcoin Halving in April 2024
7Dec By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Terra Classic (LUNC) Surges Ahead of Anticipated Bitcoin Halving in April 2024

As the crypto community eagerly anticipates the upcoming Bitcoin halving scheduled for April 2024, all eyes are on Terra Classic (LUNC), which has been making waves with its remarkable performance in recent weeks. At the time of reporting, LUNC is trading at $0.0002397, showcasing an impressive 8.5% surge in the last 24 hours, a staggering 104.73% increase in the past week, and an astonishing 256% surge over the last month. Bitcoin Halving The Bitcoin halving, an event occurring every four years that reduces the rewards for mining Bitcoin, has historically been a precursor to substantial price surges for Bitcoin and other cryptocurrencies. To understand the potential impact of the upcoming halving on LUNC's ongoing surge, insights were sought from Google Bard, Google's AI Large Language ...
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LunaClassic (LUNC) Rockets to the Top, Claims Coveted No. 1 Trending Spot on CoinGape
7Dec By Onche Michael ONo Comments
Terra Classic (LUNC)

LunaClassic (LUNC) Rockets to the Top, Claims Coveted No. 1 Trending Spot on CoinGape

In an electrifying turn of events, LunaClassic (LUNC) has seized the spotlight by becoming the number one trending coin on CoinGape, as proudly announced by Terraport Finance in a recent tweet. The cryptocurrency community is buzzing with excitement as LunaClassic's meteoric rise captures the attention of investors and enthusiasts alike. Read Also: Project USTX: Transforming USTC into a Revolutionary Gas Token for Cross-Chain Interoperability https://twitter.com/TerraValidators/status/1732709034602778963 Terra Classic Coin is the most trending coin on the CoinGape Terraport Finance took to social media to declare the exhilarating news, signalling a groundbreaking moment for LunaClassic. The announcement comes on the heels of LUNC's remarkable performance in the market, reflecting a...
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Project USTX: Transforming USTC into a Revolutionary Gas Token for Cross-Chain Interoperability
7Dec By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Project USTX: Transforming USTC into a Revolutionary Gas Token for Cross-Chain Interoperability

In a bid to revitalize the synthetic USD component of the Terra Classic blockchain, USTC, a groundbreaking proposal known as Project USTX has emerged. This initiative aims not only to re-peg USTC to the dollar but also to redefine its purpose, transforming it into a Gas Token that facilitates cross-chain interoperability and transaction processing. Project USTX USTC has long lingered without achieving a true re-peg of its assets to the dollar. While several ideas for its relaunch have been proposed, none have been fully fleshed out until now. Project USTX introduces a comprehensive plan to not only re-establish USTC's peg but also to create an entirely new ecosystem built upon this synthetic dollar. Read Also: Terra Classic (LUNC) Surges with $595 Million Daily Volume, Secures 50th Gl...
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Terra Classic (LUNC) Surges Amidst Algorithmic Stablecoin Success, Eyes Bullish Momentum
6Dec By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Terra Classic (LUNC) Surges Amidst Algorithmic Stablecoin Success, Eyes Bullish Momentum

In a stunning turn of events, Terra Classic (LUNC) has experienced a meteoric rise in its value, defying expectations and capturing the attention of investors worldwide. The catalyst behind this surge has been identified as a significant influx of investments into its algorithmic stablecoin, USTC. The surge began in late November, resulting in LUNC erasing one zero from its valuation and easily breaking through resistance levels. The initial parabolic surge of USTC, while slowing down, has not deterred LUNC's momentum. The cryptocurrency has displayed remarkable resilience, refusing to succumb to temporary pullbacks. Many market observers interpret this tenacity as a potential precursor to a larger bull run on the horizon for LUNC. Historical data suggests that LUNC has a track record o...
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LUNC’s Price Skyrockets 32.50% in 24 Hours; AI Model Forecasts Continued Momentum
4Dec By Onche Michael ONo Comments
Terra Classic (LUNC)

LUNC’s Price Skyrockets 32.50% in 24 Hours; AI Model Forecasts Continued Momentum

In a spectacular display of resilience and upward momentum, Terra Classic (LUNC) has surged by an impressive 32.50% in the past 24 hours, reaching a current price of $0.0001971. This surge follows LUNC's remarkable performance in November, where it erased a zero and catapulted from $0.00006 to over $0.0001. Predicting Further Growth: ChatGPT's Bold Projection Consulting ChatGPT, the renowned Large Language Model from OpenAI, has unveiled a bold prediction for LUNC's future. "I predict that by December 31, 2023, the price of Terra Classic (LUNC) will surge to $0.0003256," stated ChatGPT. This forecast implies a substantial 65.19% surge for LUNC before the year's end, reflecting a two-fold increase compared to its November surge. The prediction has generated enthusiasm within the Terra Cla...
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