The Terra Classic network is poised for a major upgrade as proposal #12131 goes live for voting. If approved, this proposal will elevate the network to version 3.1.5, incorporating a critical security patch for wasmd and updates from version 3.1.4, including a gas simulation patch.
Proposal #12131 outlines several key improvements for Terra Classic. The security patch for wasmd addresses potential vulnerabilities that could compromise the network’s integrity. Additionally, the gas simulation patch from version 3.1.4 is designed to optimize transaction processing, resulting in a more robust and reliable network for users.
The proposal includes a halt height of 19,850,000, which is expected to occur around September 18th, 11:15 AM UTC. If the proposal passes, this halt height will trigger the network upgrade to version 3.1.5.
Market Reacts Positively to Upgrade News
Following the announcement of proposal #12131, Terra Classic (LUNC) has experienced a surge in market activity. As of the latest data, LUNC is trading at $0.000083, reflecting a 5% increase in the past 24 hours.
The altcoin’s trading volume has also seen a significant uptick, reaching $19,811,560. This surge has propelled LUNC to rank #114 on CoinMarketCap with a live market cap of $474,343,394.
Technical indicators suggest that LUNC is currently consolidating after a recent downturn. The Moving Average Convergence Divergence (MACD) indicator shows a potential bullish crossover, indicating a possible upward trend. However, the Relative Strength Index (RSI) sits at 54.94, suggesting a neutral stance with no clear overbought or oversold signals.
Also Read: Terraform Labs Issues Final Warning to Terra Classic Users – Act Now to Save Your LUNC and USTC
The upcoming upgrade to version 3.1.5 represents a significant milestone for Terra Classic. If approved, it could have a positive impact on the network’s security, performance, and overall value. Investors and stakeholders will be closely watching the voting process and the subsequent implementation of the upgrade.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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