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Tag: May Terra collapse

Stablecoin Market Surges to $160 Billion, Marking Post-Terra Collapse High
24Apr By OLAJIDE SAMUELNo Comments
Blockchain

Stablecoin Market Surges to $160 Billion, Marking Post-Terra Collapse High

The market capitalization of stablecoins, cryptocurrencies pegged to fiat currencies like the US dollar, has reached $160 billion this week. This milestone signifies a significant recovery for the stablecoin market, reaching a level last seen in May 2022, just before the dramatic collapse of Terra's UST stablecoin. Read Also: Terra Classic Community Revives Network with IBC Restoration Stablecoin Market Booms: Supply Growth Drives Expansion Since December 2023, the stablecoin market has witnessed a substantial increase of $28.63 billion. This surge can be attributed to the rising supply of several dollar-pegged coins, with major players like Tether (USDT) and USD Coin (USDC) experiencing significant growth. Tether, the industry leader, boasts a market cap of $109.9 billion, while USDC...
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Terra Classic Community Revives Network with IBC Restoration
24Apr By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Terra Classic Community Revives Network with IBC Restoration

The Terra Classic ecosystem received a significant boost with the community overwhelmingly approving a proposal to restore the Inter-Blockchain Communication (IBC) link with Kujira. This move is expected to unlock frozen funds and enhance liquidity for the network. IBC Upgrade Secures Unanimous Support Proposal 12099, spearheaded by the RakoffToken team, aimed to re-enable the IBC client 07-tender mint-178 between Terra Classic and Kujira. IBC technology facilitates secure communication between different blockchains, allowing for seamless asset transfers and greater interoperability. Read Also: Massive Shiba Inu Transfer Sparks Speculation https://twitter.com/RakoffLuncVal/status/1781301510724333771?s=19 The proposal received near-unanimous support, garnering a staggering 99.99%...
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Terra Classic Network Targeted by Spam Transaction Attack
16Apr By OLAJIDE SAMUELNo Comments
Blockchain

Terra Classic Network Targeted by Spam Transaction Attack

The Terra Classic community faced a network attack, with attackers aiming to disrupt validator operations. The tactic involved flooding the network with a large number of small Luna Classic (LUNC) transactions, and overwhelming validators with insufficient RAM capacity. Read Also: Elon Musk Revives Dogecoin Spirits, Shiba Inu Eyes Top 10 Return This attack resulted in over 30 validators being temporarily disabled, some of which remain offline. While staking rewards are paused for delegators who rely on these validators, user funds – both LUNC and USTC – remain secure. https://twitter.com/LunaClassicLabs/status/1780116877987004650 Luna Classic Labs, acknowledging the attack, emphasized their validator's resilience due to robust hardware specifications. They also implemented addi...
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Binance Burn Injects Hope, But Will It Be Enough for Terra Classic (LUNC)?
8Apr By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Binance Burn Injects Hope, But Will It Be Enough for Terra Classic (LUNC)?

Terra Classic (LUNC) took a tentative step towards recovery on April 1st as Binance, a major cryptocurrency exchange, delivered on its promise to burn a portion of its LUNC trading fees. According to Terra Finder, Binance incinerated 4,175,855,418 LUNC, valued at over $585,000 at current prices. Read Also: Shiba Inu Poised for Breakout, Analysts Eye New Yearly Highs This burn represents half of the fees Binance collected on LUNC trades throughout March. The exchange's commitment involves burning 50% of its LUNC trading fees every month, aiming to bolster the ongoing burn mechanism – a core element of the Terra Classic revival plan. Fire and Ice: Understanding the LUNC Burn The Terra Classic burn mechanism emerged from the ashes of the Terra ecosystem's collapse in May 2022. Its obj...
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Terra Classic Community Sees Security Boost with Terraport Launch
1Apr By OLAJIDE SAMUELNo Comments
Blockchain

Terra Classic Community Sees Security Boost with Terraport Launch

The Terra Classic community is celebrating a significant security improvement with the upcoming launch of Terraport, a decentralized finance (DeFi) platform built on the Terra Classic blockchain. According to a tweet by Rexyz, a network developer, Terraport has achieved an impressive 86.50% security score on pre-launch tables, placing it at 17th out of 380 projects. If Terraport maintains this score upon full launch, it would rank within the top 230 DeFi projects out of nearly 12,000 evaluated by Certik, a leading blockchain security firm. Read Also: XRP Poised for Surge Above $13 on Complex Elliott Wave Pattern, Analyst Claims https://twitter.com/RexYellerBelly/status/1774475926169927856 This news is a major win for Terra Classic, which currently sits below 50% on the same Certik crit...
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Terra Luna Classic (LUNC) Price on the Rise: Can it Hit $2 Before Bitcoin Halving?
27Mar By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Terra Luna Classic (LUNC) Price on the Rise: Can it Hit $2 Before Bitcoin Halving?

Terra Luna Classic (LUNC) has been experiencing a surge in price recently, driven by several positive developments within its ecosystem. The rollout of the v2.4.2 upgrade and the introduction of new binary components have paved the way for easier integration of decentralized applications (dApps) and benefited the Enterprise DAO. Read Also: Terra Classic (LUNC) and USTC Surge on News of Do Kwon's Release Recent Price Performance and Historical Context LUNC is currently priced at $0.000161, with a market capitalization of $939.80 million. While it has dipped slightly in the last day, it has seen a significant increase of 34% over the past year. This bullish trend starkly contrasts its all-time high of $119.01 in April 2022, followed by a plunge to its all-time low of $0.00001651 in May ...
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Terra Classic (LUNC) Gains Momentum with WEEX Listing, Eyes Dominance in Bull Run
12Mar By CryptolifedigitalNo Comments
Terra Classic (LUNC)

Terra Classic (LUNC) Gains Momentum with WEEX Listing, Eyes Dominance in Bull Run

Terra Classic (LUNC), the original Terra blockchain token, is experiencing a resurgence in interest fueled by a recent listing on WEEX, a Singapore-based crypto futures trading platform. WEEX announced the official listing of LUNC spot and futures trading pairs on March 11th, sparking optimism among Terra Classic proponents. Vocal community members like Mr. Diamondhandz1 believe this listing could be a catalyst for LUNC's dominance in the ongoing crypto bull run. Read Also: Luna Classic Labs Announces Departure from Terraform Labs (TFL) Over Wallet Issues https://twitter.com/WEEX_Official/status/1767081774633664802?t=YGLgPZPcSYdrpC3ygfNwdA&s=19 WEEX Listing Boosts Accessibility and Potential The WEEX listing offers several advantages for LUNC: Wider Audience: Increa...
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Terra Classic (LUNC) Emerges as Top Gainer, Highlighting Innovative DeFi Approach
7Mar By CryptolifedigitalNo Comments
Cryptocurrency

Terra Classic (LUNC) Emerges as Top Gainer, Highlighting Innovative DeFi Approach

Terra Classic (LUNC) has surged as the leading gainer in today's dynamic crypto market, showcasing a remarkable 64.90% increase in the last 24 hours. This significant rise comes amidst a broader market that witnessed Bitcoin maintaining its dominance and overall trading activity reaching $892.69 billion. Read Also: Shibarium Records Yet Another Remarkable Milestone Terra Classic, LUNC's Unique Features Attract Attention Proof-of-Stake Mechanism: LUNC empowers users to actively participate in network governance through its Proof-of-Stake (PoS) mechanism. Validators, chosen based on their LUNC holdings, secure the network, while delegators contribute to its stability by entrusting their tokens to validators. Innovative Stablecoin Minting: Minting stablecoins on Terra Classic ...
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LUNC Community Votes Against 1.5% Burn Tax Proposal, Opting for Status Quo
25Dec By OLAJIDE SAMUELNo Comments
Blockchain

LUNC Community Votes Against 1.5% Burn Tax Proposal, Opting for Status Quo

In a significant turn of events, the Terra Classic (LUNC) community has officially rejected the proposed implementation of a 1.5% burn tax. The decision comes after an active and engaged voting process within the community, reflecting the decentralized nature of governance in the Terra Classic ecosystem. Read Also: Solana (SOL) Surges Past $100, Claiming 4 Spot by Market Cap: Factors and Future Predictions https://twitter.com/TerraValidators/status/1739165002244719072 The proposal for a 1.5% burn tax has stirred considerable discussion within the LUNC community, sparking debates about its potential impact on the digital asset. The burn tax was envisioned as a mechanism to address circulating supply concerns and enhance the overall tokenomics of LUNC. Community Voting Results Aft...
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Token’s Resurgence Fueled by Binance-Led Token Burn and Positive Market Sentiments
4Dec By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Token’s Resurgence Fueled by Binance-Led Token Burn and Positive Market Sentiments

In a surprising turn of events, Terra Classic (LUNC) is on the brink of a substantial price surge, echoing its resilience following a tumultuous period reminiscent of meme coin volatility last year. Recent developments, including a significant token burn led by Binance, have propelled LUNC to new heights, with analysts eyeing a potential reclamation of the resistance point at $0.0003. Current Market Snapshot As of the latest update, LUNC has achieved its highest price this year at $0.0002701, bolstered by an extraordinary 228% surge in trading volume, reaching an impressive $1,243,337,369. The token is presently trading at $0.0002636, reflecting a resilient market position. Read Also: LUNC's Price Skyrockets 32.50% in 24 Hours; AI Model Forecasts Continued Momentum Token Burn Trigger...
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