Crypto News

Terra Classic Token (LUNC) Soars 28.59% in Just 24 Hours

Terra Classic's Token Surges 30%

Terra Classic (LUNC), the original chain of the Terra (LUNA) ecosystem, has witnessed a substantial surge in value, offering a glimmer of hope in a period dominated by bearish sentiment.

This article explores the recent surge in LUNC’s price and the initiatives undertaken by the LUNC community to enhance the network’s utility.

Additionally, it delves into the upcoming v2.1.0 upgrade proposal, which has garnered significant attention and is expected to further strengthen the Terra Classic blockchain.

Key Points:

  1. Impressive Price Surge: LUNC’s value has experienced a remarkable gain of 28.59% within the past 24 hours, reaching a trading price of $0.0001083. This surge can be attributed to increased buying pressure, driving LUNC’s market capitalization to $635.9 million, with a staggering $138 million flowing into the token in a single day.
  2. Prominent Trading Volume: LUNC has emerged as one of the top cryptocurrencies in terms of trading volume, currently ranking as the 7th cryptocurrency by trading volume in Binance’s spot market.
  3. Anticipation Surrounding v2.1.0 Upgrade: The upcoming v2.1.0 upgrade proposal has garnered significant attention within the LUNC community. Scheduled for release on June 14th, this upgrade represents the third significant update to the Terra Classic blockchain.
  4. Alignment with Other Blockchains: The v2.1.0 upgrade aims to align Terra Classic with other blockchains, including Terra 2.0 and various Cosmos chains. This alignment is expected to provide projects and developers with renewed opportunities to leverage the Terra Classic chain.
  5. Notable Features and Improvements: The v2.1.0 upgrade brings several enhancements, including a minimum 5% commission for validators to promote fair compensation. The integration of Cosmwasm and two security updates will enhance reliability and security within the platform.
  6. Strengthening Interoperability: The upgrade also seeks to strengthen interoperability across different Cosmos chains, expanding the possibilities for Terra Classic and enabling seamless integration with other chains.

I'm a crypto, blockchain, and tech writer. I spend my time researching and writing about cryptocurrency, NFT, AI, and new technology.