The Terra Luna Classic price (LUNC) bounced 4% on Wednesday despite a governance proposal to prevent double network validating falling flat and stagnant trading activity across the broader crypto market.
Critics of the proposal pointed out that it would prevent some providers of managed node validator services from operating.
Others pointed out that it would be un-actionable, as node validators could choose to ignore the proposal anyway.
The Terra Luna Classic price (LUNC) is trading around $0.0001060, with its 21DMA acting as a magnet.
LUNC pushed as high as the $0.00012s earlier this week but quickly reversed after finding resistance at its 50DMA.
The failure to break above the $0.00012 resistance zone shows that bulls are yet to regain control.
That’s unsurprising, with the broader crypto market stuck within recent ranges.
Bitcoin (BTC) failed to break above its 50DMA earlier this week and fell back to $ 62,000.
The cryptocurrency market is currently lacking bullish narratives. Bitcoin is stuck in its typical post-halving lull ahead of summer, which is typically not a good time of year for crypto, and spot Bitcoin ETF demand has eased as markets await potential Fed rate cuts at the end of 2024.
Ethereum ETF applications are also likely to be rejected by the SEC later this month. Concerns about US regulatory enforcement against the crypto sector were also in focus this week after the SEC’s Robinhood Wells Notice.
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Despite having pulled back from earlier weekly highs above $0.00012, LUNC is still up more than 45% versus last week’s lows.
The cryptocurrency just snapped a downtrend that had been in play since early March, suggesting the technical outlook has improved substantially.
That said, for the LUNC price to continue higher, it must break sustainably above $0.00012 resistance.
Traders don’t typically pay much attention to developments in the LUNC community.
Since the collapse of the Terra ecosystem back in May 2022, Terra has basically become a ghost chain.
Pretty much all of its prior users, developers, investors, and community have left the token, and LUNC has become highly speculative, akin to a meme coin.
The token pumps at times of market optimism, like in early March when Bitcoin was hitting new record highs.
And then, LUNC dumps as that optimism fades. Very few LUNC buyers are long-term holders who expect a revival of the blockchain.
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Coin exchange rate
$BTC 63133.02 USD (+3.12%) 🟢$LUNC 0.00010720 USD (+2.84%) 🟢$LUNA 0.62008728 USD (+1.34%) 🟢Better Alternative to Consider – Wiener AI (WAI)
Investors tempted to jump into a risky, speculative coin like LUNC obviously have a high-risk tolerance.
This appetite towards risk might be better served with a different strategy that, while also risky, has higher upside potential.
The strategy in question is crypto presale investing, which involves buying the tokens of startup crypto projects before they release a product.
A fun new AI meme coin called Wiener AI (WAI) has caught the attention of analysts at Cryptonews, for example.
The Sausage dog-themed meme coin offers a suite of handy AI trading capabilities and has already raised over $1.3 million.
Interested investors may want to move quickly, as the WAI price will rise when the $1.66 million presale target is hit.
Currently priced at $0.000705, investors are buying WAI at a market cap of around $45 million.
However, investors could look at gains of 10x or more if WAI becomes a market leader.
20% of the supply has been allocated to staking rewards, with presale investors currently earning a massive 721% APY.
At this rate, investors can double their initial presale investment in under one month.
Investors tempted to jump into a risky, speculative coin like LUNC obviously have a high-risk tolerance.
This appetite towards risk might be better served with a different strategy that, while also risky, has higher upside potential.
The strategy in question is crypto presale investing, which involves buying the tokens of startup crypto projects before they release a product.
A fun new AI meme coin called Wiener AI (WAI) has caught the attention of analysts at Cryptonews, for example.
The Sausage dog-themed meme coin offers a suite of handy AI trading capabilities and has already raised over $1.3 million.
Interested investors may want to move quickly, as the WAI price will rise when the $1.66 million presale target is hit.
Currently priced at $0.000705, investors are buying WAI at a market cap of around $45 million.
However, investors could look at gains of 10x or more if WAI becomes a market leader.
20% of the supply has been allocated to staking rewards, with presale investors currently earning a massive 721% APY.
At this rate, investors can double their initial presale investment in under one month.
LUNC Picks Up 13% Despite Trashed Key Terra Classic Proposal
Last weekend, Terra Luna Classic (LUNC) rejected a key governance proposal to prevent the chain’s validators from launching multiple validators on the network. Proposal #12101 seeks to impose a single-validator rule, which has been called “un-actionable” and “pointless” by certain validators like SolidVote.
While most members agree the proposal to limit validator nodes has good intentions, the strategy would be hard to realize because Terra chain validators can simply ignore the implemented rules. Breaking down the voting results, almost 38% of Terra Classic community members voted ‘Yes’, while 37% voted ‘No’, and another 21% vetoed the proposal.
Despite the Terra Luna Classic community being divided into two camps over LUNC chain validator policy, the embattled Layer-1 altcoin inked 8.6% gains to trade at $0.0001162 as of press time. While the validator limit proposal tackles centralization issues due to unlimited validator nodes, a resubmission of the proposal is likely soon.
Last weekend, Terra Luna Classic (LUNC) rejected a key governance proposal to prevent the chain’s validators from launching multiple validators on the network. Proposal #12101 seeks to impose a single-validator rule, which has been called “un-actionable” and “pointless” by certain validators like SolidVote.
While most members agree the proposal to limit validator nodes has good intentions, the strategy would be hard to realize because Terra chain validators can simply ignore the implemented rules. Breaking down the voting results, almost 38% of Terra Classic community members voted ‘Yes’, while 37% voted ‘No’, and another 21% vetoed the proposal.
Despite the Terra Luna Classic community being divided into two camps over LUNC chain validator policy, the embattled Layer-1 altcoin inked 8.6% gains to trade at $0.0001162 as of press time. While the validator limit proposal tackles centralization issues due to unlimited validator nodes, a resubmission of the proposal is likely soon.
Coin exchange rate
$BTC 60971.556 USD (-3.43%) 🔴$LUNC 0.00010325 USD (-3.68%) 🔴$LUNA 0.59175846 USD (-4.57%) 🔴Black Swan Survivor LUNC Surges 13%
Coinciding with Terra’s malfunctioning stablecoin Terra Classic USD (USTC) massive 28% spike to $0.0233, LUNC’s price trajectory received a significant boost on May 2, scorching above the $0.0001 confluent support line after dropping below this decisive price range on April 30.
Thanks to Binance’s LUNC burning contributions, the circulating LUNC supply is now heavily reduced, with 5,799,402,152,117 LUNC tokens left in circulation. Binance’s latest monthly burning ceremony saw 1.5B LUNC tokens destroyed, but the effort was significantly smaller than the cumulative burns executed in April.
The 140% upswing in Terra Classic’s 24-hour trading volume contributed towards the surge, and LUNC added $100 million to its global market cap since May 2. The milestone was followed by an overbought condition on LUNC’s trading charts, as this indicator points to 75.12. Volatility-wise, the tight Bollinger Bands are gradually widening, implying that LUNC price volatility will likely expand in the coming days.
Coinciding with Terra’s malfunctioning stablecoin Terra Classic USD (USTC) massive 28% spike to $0.0233, LUNC’s price trajectory received a significant boost on May 2, scorching above the $0.0001 confluent support line after dropping below this decisive price range on April 30.
Thanks to Binance’s LUNC burning contributions, the circulating LUNC supply is now heavily reduced, with 5,799,402,152,117 LUNC tokens left in circulation. Binance’s latest monthly burning ceremony saw 1.5B LUNC tokens destroyed, but the effort was significantly smaller than the cumulative burns executed in April.
The 140% upswing in Terra Classic’s 24-hour trading volume contributed towards the surge, and LUNC added $100 million to its global market cap since May 2. The milestone was followed by an overbought condition on LUNC’s trading charts, as this indicator points to 75.12. Volatility-wise, the tight Bollinger Bands are gradually widening, implying that LUNC price volatility will likely expand in the coming days.
The Terra Luna Classic community saw a major development today as the Terra Classic Wallet gets a much-needed upgrade. The developer informed the community that the upgrade improves functionalities, usability, and other advancements in general.
Terra Classic Wallet is developed by popular LUNC developer StrathCole utilizing the CosmES Wallet Kit, with UI design by Dawid Skinder.
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Coin exchange rate
$BTC 60752.388 USD (-0.38%) 🔴$LUNC 0.00010368 USD (+0.4%) 🟢$LUNA 0.59353984 USD (+0.3%) 🟢Terra Classic Wallet developed by StrathCole gets a new update from v0.0.1 to v0.0.22, reported the team behind the wallet. It is an alternative to the Station wallet with more features and usability. However, the wallet is still in the early version and needs further enhancements.
“This is an early version of the app. It is not feature-complete. Please use it at your own risk and be aware that there may be bugs and issues,” as per a notice. Bugs or issues found in the wallet can be reported on GitHub.
The team said there are many new functionalities and improvements in general in the Terra Classic Wallet. The team has just finished designing some UI improvements to Explorer as well to improve the usability of the wallet.
Meanwhile, the Terra Luna Classic developers including Genuine Labs are currently working on upcoming updates to further improve the chain and help bring utility.
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Terra Luna Classic ecosystem tokens witnessed signs of recovery as trading volumes increased in the last few days, but the negative bias in the crypto market continue to put altcoins under pressure.
LUNC price fell more than 2% over the last 24 hours, with the price currently trading at $0.0001042. The 24-hour high and low are $0.0001031 and $0.0001070, respectively.
In the derivatives market, selling in 1000LUNC futures on Binance and Bybit negated buying in LUNC futures on other crypto exchanges. While derivatives trading indicates interest is higher, LUNC price still needs to break above $0.00012 resistance for rally to $0.0002.
Meanwhile, USTC price also dropped over 2% in the last 24 hours, with the price currently trading at $0.0215. The 24-hour low and high are $0.0204 and $0.0231, respectively. Trading volume has decreased slightly in the past 24 hours.
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Coin exchange rate
$BTC 62352.717 USD (+2.63%) 🟢$LUNC 0.00010402 USD (+0.34%) 🟢$LUNA 0.57997916 USD (-2.28%) 🔴Terra Luna Classic Developer Unveils Major Upgrade: Will LUNC Price Surge to $0.0002?
Following CNF earlier updates, the Terra Luna Classic has implemented a crucial security upgrade to mitigate risks and bolster the stability of the blockchain. This enhancement is a proactive measure to address vulnerabilities and ensure the integrity and performance of the network, directly influencing the pricing dynamics of LUNC and USTC.
The Terra Classic Wallet, spearheaded by renowned developer StrathCole and featuring design work by Dawid Skinder, has received a significant update. Using the CosmES Wallet Kit, this upgrade from v0.0.1 to v0.0.22 introduces numerous enhancements aimed at improving user interaction and overall functionality. Although still in its early versions and not yet feature-complete, the wallet promises a more robust experience, with ongoing developments to iron out existing bugs. Users are encouraged to report any issues on GitHub.
Market Trends and Investor Sentiment
Recent updates have sparked a mild recovery in Terra Luna Classic’s trading volumes, yet the broader crypto market continues to exert downward pressure on altcoins. Despite these challenges, LUNC’s current trading activities, particularly in derivative markets on platforms like Binance and Bybit, suggest a growing investor interest. However, for LUNC to achieve a significant rally, overcoming the $0.00012 price resistance is crucial.
Following CNF earlier updates, the Terra Luna Classic has implemented a crucial security upgrade to mitigate risks and bolster the stability of the blockchain. This enhancement is a proactive measure to address vulnerabilities and ensure the integrity and performance of the network, directly influencing the pricing dynamics of LUNC and USTC.
The Terra Classic Wallet, spearheaded by renowned developer StrathCole and featuring design work by Dawid Skinder, has received a significant update. Using the CosmES Wallet Kit, this upgrade from v0.0.1 to v0.0.22 introduces numerous enhancements aimed at improving user interaction and overall functionality. Although still in its early versions and not yet feature-complete, the wallet promises a more robust experience, with ongoing developments to iron out existing bugs. Users are encouraged to report any issues on GitHub.
Market Trends and Investor Sentiment
Recent updates have sparked a mild recovery in Terra Luna Classic’s trading volumes, yet the broader crypto market continues to exert downward pressure on altcoins. Despite these challenges, LUNC’s current trading activities, particularly in derivative markets on platforms like Binance and Bybit, suggest a growing investor interest. However, for LUNC to achieve a significant rally, overcoming the $0.00012 price resistance is crucial.
The USTC token, part of the Terra Luna ecosystem, has seen a decline of over 2% in the last 24 hours, with its price fluctuating between $0.0204 and $0.0231. This price movement underscores the general market volatility and the cautious stance of investors.
Meanwhile, LUNC’s price is about $0.0001078, has experienced a modest uptick, registering a 3.67% increase over the past week and a 2.18% rise in the last 24 hours, as per the latest updates from Coin Market Cap. These indicators might point towards a potential price surge if the token can maintain its momentum and breach significant resistance levels.
This ongoing development within the Terra Luna Classic ecosystem highlights the dual focus on technological enhancements and market strategy, crucial for the cryptocurrency’s growth and stability in a fluctuating market environment.
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Coin exchange rate
$BTC 61994.031 USD (-0.65%) 🔴$LUNC 0.00010504 USD (+1.0%) 🟢$LUNA 0.57293758 USD (-1.21%) 🔴Coinbase Considers Relisting Terra Luna Classic (LUNC)
The cryptocurrency exchange Coinbase is thinking of re-listing the Terra Luna Classic (LUNC), as reported in the x post shared yesterday. This news has caused a positive approach to the LUNC community, with some thinking that it could push the price of LUNC to new highs.
LUNA collapsed in 2022 along with its algorithmic stablecoin TerraUSD. The crash led to many exchanges delisting LUNA and over $60 billion was lost from the collapse.
The news of a potential Coinbase relisting emerged after LUNC was identified as an “asset not supported” on the main Coinbase platform, but it was still available for trading on Coinbase Wallet. This inconsistency has caused some to think that a relisting on the main platform could be soon.
One prominent community member, MrDiamondhandz1, mentioned that the Coinbase Wallet says LUNC is “coming soon” but it doesn’t mention anything about LUNA.
The cryptocurrency exchange Coinbase is thinking of re-listing the Terra Luna Classic (LUNC), as reported in the x post shared yesterday. This news has caused a positive approach to the LUNC community, with some thinking that it could push the price of LUNC to new highs.
LUNA collapsed in 2022 along with its algorithmic stablecoin TerraUSD. The crash led to many exchanges delisting LUNA and over $60 billion was lost from the collapse.
The news of a potential Coinbase relisting emerged after LUNC was identified as an “asset not supported” on the main Coinbase platform, but it was still available for trading on Coinbase Wallet. This inconsistency has caused some to think that a relisting on the main platform could be soon.
One prominent community member, MrDiamondhandz1, mentioned that the Coinbase Wallet says LUNC is “coming soon” but it doesn’t mention anything about LUNA.
Coinbase Considers Relisting Terra Luna Classic (LUNC): Potential for ATH Surge?
Recently, Terra Classic (LUNC) has reached a new milestone in staking achievements, with levels indicating a bullish phase for the cryptocurrency. This information was detailed in a prior report by CNF, which highlighted the growing investor confidence in LUNC’s potential for substantial token burns to reduce supply and drive up value.
Recently, Terra Classic (LUNC) has reached a new milestone in staking achievements, with levels indicating a bullish phase for the cryptocurrency. This information was detailed in a prior report by CNF, which highlighted the growing investor confidence in LUNC’s potential for substantial token burns to reduce supply and drive up value.
Coin exchange rate
$BTC 62177.56 USD (+0.29%) 🟢$LUNC 0.00010370 USD (-1.28%) 🔴$LUNA 0.56232310 USD (-1.85%) 🔴Coinbase’s Re-engagement with LUNC
As revealed in today’s CNF YouTube video, Coinbase is considering the relisting of Terra Luna Classic on its trading platform. This development follows the reinstatement of LUNC swaps in the Coinbase Wallet, which sparked a modest price increase of 1.10% within 24 hours to $0.0001054.
The enthusiasm within the LUNC community is palpable, as Coinbase’s renewed interest in the token suggests a restored faith in its market viability. This is a noteworthy turnaround from the 2022 debacle involving Terraform Labs that led to the emergence of Terra Luna Classic from the ashes of Terra Luna (LUNA).
Potential for ATH Surge?
A recent tweet by influencer Mr. Diamondhandz highlighted the optimistic sentiment surrounding LUNC, noting its availability for trade on the Coinbase Wallet as a bullish sign for the token’s trajectory.
According to today’s Coin Market Cap, LUNC has surged by 0.33% in the last 24 hours, despite a decrease of 1.86% over the past week, maintaining a price of $0.0001047. The price chart below provides a visual representation of these fluctuations, illustrating the dynamic nature of LUNC’s market activity. The potential relisting by Coinbase could further stimulate investor interest and market activity, potentially leading to new all-time highs for LUNC.
As market dynamics continue to evolve, the possible relisting of LUNC by a major exchange like Coinbase could significantly influence its market cap and investor interest, potentially driving the token towards new all-time highs.
This strategic shift by Coinbase could not only impact LUNC’s immediate pricing but might also set a precedent for how major exchanges reassess cryptocurrencies after significant market events.
As revealed in today’s CNF YouTube video, Coinbase is considering the relisting of Terra Luna Classic on its trading platform. This development follows the reinstatement of LUNC swaps in the Coinbase Wallet, which sparked a modest price increase of 1.10% within 24 hours to $0.0001054.
The enthusiasm within the LUNC community is palpable, as Coinbase’s renewed interest in the token suggests a restored faith in its market viability. This is a noteworthy turnaround from the 2022 debacle involving Terraform Labs that led to the emergence of Terra Luna Classic from the ashes of Terra Luna (LUNA).
Potential for ATH Surge?
A recent tweet by influencer Mr. Diamondhandz highlighted the optimistic sentiment surrounding LUNC, noting its availability for trade on the Coinbase Wallet as a bullish sign for the token’s trajectory.
According to today’s Coin Market Cap, LUNC has surged by 0.33% in the last 24 hours, despite a decrease of 1.86% over the past week, maintaining a price of $0.0001047. The price chart below provides a visual representation of these fluctuations, illustrating the dynamic nature of LUNC’s market activity. The potential relisting by Coinbase could further stimulate investor interest and market activity, potentially leading to new all-time highs for LUNC.
As market dynamics continue to evolve, the possible relisting of LUNC by a major exchange like Coinbase could significantly influence its market cap and investor interest, potentially driving the token towards new all-time highs.
This strategic shift by Coinbase could not only impact LUNC’s immediate pricing but might also set a precedent for how major exchanges reassess cryptocurrencies after significant market events.