The Terra Luna Classic (LUNC) community is actively voting on Proposal 12148, a significant software upgrade aimed at enhancing the network’s utility and security. This upgrade, spearheaded by developer StrathCole, seeks to simplify tax handling, a move anticipated to attract developers and decentralized applications (dApps) from the broader Cosmos ecosystem.
Details of the v3.3.0 Upgrade
The upgrade proposal, currently under voting on the Station wallet, proposes updating the terrad client to version 3.3.0. If approved, the Terra Classic chain will halt at block height 21163600, expected on December 17 at 12:57:47 UTC, to implement the changes.
The simplified tax handling feature aims to reduce barriers for developers and boost the network’s appeal. Early voting results indicate overwhelming support, with all 39 participating validators, including prominent names like JESUSisLORD, Burrito Node, Vegas Node, and TerraCVita, casting “Yes” votes.
This upgrade aligns with the community’s vision of reinvigorating Terra Luna Classic’s ecosystem, laying the foundation for increased activity and innovation.
LUNC Price Charts Mirror XRP’s Breakout Potential
Recent developments in the LUNC price chart have sparked comparisons with XRP’s recent rally above the $1 mark. Like XRP, which surged following a symmetrical triangle breakout fueled by regulatory and market developments, LUNC has broken out of a similar triangle pattern on the weekly timeframe.
LUNC recently experienced a 40% rally within a week, climbing to $0.0001613 before a slight pullback of 6% in the past 24 hours. If LUNC’s price closes above $0.00018 this week, analysts predict a potential surge toward $0.0005, with the possibility of higher targets if trading volumes rise significantly.
Adding to the bullish momentum, Binance burned 1.7 billion LUNC tokens, contributing to a monthly uptrend of over 90%. However, sustained volume and broader community engagement will be critical to achieving long-term gains.
Also Read: LUNC Update: The $1 Dream for Terra Luna Classic ($LUNC) – Is It Realistic or Just Wishful Thinking?
Broader Terra Ecosystem Developments
The Terra ecosystem is also seeing notable activity, with Terra (LUNA) surging 52% in a week to hit $0.79 and USTC gaining over 20% to reach $0.030. These movements, coupled with the ongoing v3.3.0 upgrade and community support, suggest the potential for significant growth across the Terra ecosystem.
As the upgrade date nears, all eyes are on LUNC, with traders and investors watching closely for the next major breakout.
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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