Is Terra Luna Classic Comeback Possible?

Updated: 22 June 2023

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The future value of a single token of Terra Classic (LUNC) as of the end of the year 2023 is the subject of a great deal of debate. Several of these projections have been influenced, in particular, by the recent accomplishments in blockchain technology that involve bringing it back to level.

Superiority in $LUNC parity

A resurgence in investor enthusiasm has been attributed, in part, to the parity upgrade that was implemented on the LUNC blockchain. The upgrade is a significant update that is designed to bring the network up to the same standard as that of Cosmos and Luna 2.0.

The v2.1.1 upgrade has been completed! Thank you to all validators for such a smooth upgrade. Parity has arrived. Thank you @TheVinhNguyen4 @frag_dude, Xi, for your endless work on this on this upgrade!

Also, thank you to all of the validators for a great upgrade!

— 🔥LuncBurnArmy🔥 (@luncburnarmy) June 14, 2023

This indicates that LUNC will now be able to interface with projects being worked on by Cosmos and Luna 2.0. The upgrade brings with it a plethora of additional features, some of which include enhanced security, higher scalability, and decreased gas expenses.

Additionally, a key milestone in terms of the amount of LUNC tokens that have been staked has been reached by the LUNC ecosystem. The project recently exceeded the $1 trillion mark in terms of its total cost. See our guide to the best crypto ICOs to invest in here.

The $LUNC developer’s improved proposal

During the 3rd quarter, the Joint L1 Task Force (L1TF), the organization that is accountable for constructing the basic foundation of Terra Luna Classic, presented a new plan for maintaining the development and upkeep of the network.

The L1TF development team’s primary objective is to make effective use of the market module to facilitate an increase in LUNC and USTC reductions in supplies while simultaneously accelerating the process. Visit our guide to the best altcoins to buy now for 2023 here.

In order to assist external teams such as ‘quant’ for USTC repeg, the L1TF intends to improve the Cosmos Software Development Kit (SDK), integrate Edward Kim’s Block Entropy AI software chain, enable Token Factory, and do a number of other things.

The $LUNC important changes

Terra Luna Classic’s developers have been provided with the latest information on a new proposal for Q3 from the project manager for the Joint L1 Task Force LuncBurnArmy. Q3 activity and budget were submitted with assurance after the team improved Cosmos SDK to 0.45.13, Tendermint to 0.34.24, and instituted a 5% minimum validator commission.

In addition to proposing a maximum LUNC supply limit for the months of July and August, L1TF also suggests updating to an upgraded version of the Cosmos SDK and putting the market module through its paces in the USTC test environment.

Terra Classic will migrate from Columbus-5 to Columbus-6 in August and September to minimize blockchain size and enhance validator and infrastructure provider efficiency. The Joint L1 Task Force will work with Edward Kim to deploy the Block Entropy AI app chain on Terra Classic and the ‘quant’ team for USTC repeg.

There is a proposed expenditure of $133,000 (1.48 billion LUNC) during the third quarter. Any unspent funds in the budget at the end of each quarter will be distributed back to the general fund. See our guide to the best low market cap crypto to buy here.

Terra Luna Classic on-chain data

Information obtained from a well-known market tracker reveals that LUNC presently has a market capitalization of $557.27 million, a 24-hour trading volume of $60.55 million, and a $LUNC price of $0.000096. This represents a growth of 3.95% over the previous twenty-four hours.

According to the information for investors that can be observed by Technical Analysis, $LUNC has a total of 13,367 addresses, and the top 100 investors account for 33.98% of the total supply. In addition, in terms of social statistics, the project has received a lot of attention on GitHub, where there have been 110 commits, 354 stars, and 81 forks.

Despite the fact that the number of tokens in circulation already exceeds five trillion, members of the LUNC community have been consistently burning tokens in an effort to actively reduce the number of tokens. Over sixty billion LUNC coins have been burned up to this point in time.

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