The Terra Luna Classic community has successfully passed a crucial proposal, sparking optimism among investors and potentially paving the way for a price rally. The proposal aims to correct a significant error introduced in a previous upgrade, restoring the network’s stability.
Proposal 12133, which was submitted on September 13th, seeks to address an issue that arose from a module in 12125, which inadvertently outdated code during a recent SDK upgrade. By restoring the maximum number of validators to 110, the proposal aims to ensure the long-term viability of the Terra ecosystem.
The community has shown strong support for the proposal, with 63.81% of votes cast in favor. The voting period is set to conclude in two days.
In addition to this proposal, other recent developments have also contributed to the positive sentiment surrounding Terra Luna Classic. The Tax2Gas upgrade and various security enhancements have boosted the community’s confidence in the project’s future.
LUNC Price Outlook
While the LUNC price has experienced a slight pullback after a 17% rally last week, there is still potential for further gains. Technical analysis suggests that LUNC could reach $0.0003 if it breaks through certain resistance levels.
The Terraform Labs Chapter 11 bankruptcy upgrade has also played a role in boosting the community’s optimism and supporting a potential price increase.
The passage of Proposal 12133 and other positive developments within the Terra Luna Classic ecosystem have created a favorable environment for a potential price rally. While the short-term price action may be volatile, the long-term outlook for LUNC appears promising. Investors should closely monitor market developments and technical indicators to make informed decisions.
Also Read: Terra Luna Classic Validator Proposes USTC Repeg Plan: Will LUNC Price Rally Again?
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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