Coin exchange rate
$BTC 66620.198 USD (+4.55%) 🟢$LUNC 0.00009312 USD (+8.01%) 🟢$LUNA 0.45823047 USD (+8.12%) 🟢In recent weeks, Terra Luna Classic has recorded positive news ranging from price upticks and a recent burn with huge support. Crypto exchange Binance is supporting the community by burning 62 billion LUNC tokens creating a frenzy as users eye a rebirth of USTC. LUNC staking ratio has also neared its all-time high of above 15%. At press time, USTC has soared 21.7% in the last 24 hours to trade at $0.02002.
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The community behind Terra Luna Classic (LUNC) is making huge strides towards reviving the network. This was revealed in a new governance proposal, where the author Dawid Skinder explains that the network is losing popularity and a wave of potential investors.
Why Is the Official LUNC Website Needed Now?
Terra Luna Classic’s official website has been absent since the UST de-pegging in May 2022, causing Terra (LUNA) and UST tokens to crumble in a matter of days. Later that year, after rebranding from LUNA to LUNC, the blockchain’s revival efforts were put into the community’s hands.
In Skinder’s estimation, LUNC lost visits due to a lack of a website. Skinder also suggested an investor shortage that could have been anywhere from 4,000 to 162,500.
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Coin exchange rate
$BTC 66719.558 USD (+0.1%) 🟢$LUNC 0.00008931 USD (-4.1%) 🔴$LUNA 0.44000552 USD (-4.04%) 🔴As the governance proposal raises eyebrows among Terra Luna Classic community members, the idea behind proposal #12117 is to have an all-encompassing site like Bitcoin.org. Inspired by the leading digital asset’s homesite, the author seeks to build a website for LUNC.
To do this, Skinder proposes working on a website concept first. After the website concept is created via UX and branding workshops, key visual design and a copywriting service will create unique content. Afterward, a minimum viable product (MVP) will be created ahead of the final website design and launch.
Currently up for voting on the Galaxy Station, this governance proposal has received 14.22% ‘Yes’ votes, while 38.06% of community members opposed the proposition so far. Another 47.37% of Terra Luna Classic members voted ‘No with veto.’
With over four days remaining, 230.24B out of 1.04T votes have been cast. The developments reflected LUNC’s price well, as the altcoin surged past a $500 million market capitalization on Wednesday.
According to CoinGecko, LUNC is trading at $0.00009234 and is on a 15.9% daily upswing as of press time.
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Terra Classic Votes to Launch Independent Website. Here’s the Significance
The Terra Luna Classic (LUNC) community is currently engaged in a crucial vote regarding the launch of an independent website. This proposal, if passed, could significantly impact the future of the blockchain project.
Proposed Website Aims to Revitalize Terra Luna Classic
Since the major crash in May 2022, Terra Classic has lacked a dedicated website offering comprehensive information about the LUNC ecosystem and ongoing developments.
This absence has been a major disadvantage, potentially leading to decreased user engagement and missed opportunities for attracting developers and decentralized application (dApp) creators.
Additionally, incompatibility with prominent crypto data aggregators like CoinMarketCap and CoinGecko has further hampered visibility and potential investor interest.
The proposed website aims to address these shortcomings by establishing a central hub for the Terra Luna Classic community. Described as “decentralized, educational, and community-based,” the website would prioritize informative content while upholding the decentralized nature of the project.
The proposal also emphasizes surpassing the functionality and design of existing blockchain websites, potentially becoming a valuable resource for both experienced and new users.
The Terra Luna Classic (LUNC) community is currently engaged in a crucial vote regarding the launch of an independent website. This proposal, if passed, could significantly impact the future of the blockchain project.
Proposed Website Aims to Revitalize Terra Luna Classic
Since the major crash in May 2022, Terra Classic has lacked a dedicated website offering comprehensive information about the LUNC ecosystem and ongoing developments.
This absence has been a major disadvantage, potentially leading to decreased user engagement and missed opportunities for attracting developers and decentralized application (dApp) creators.
Additionally, incompatibility with prominent crypto data aggregators like CoinMarketCap and CoinGecko has further hampered visibility and potential investor interest.
The proposed website aims to address these shortcomings by establishing a central hub for the Terra Luna Classic community. Described as “decentralized, educational, and community-based,” the website would prioritize informative content while upholding the decentralized nature of the project.
The proposal also emphasizes surpassing the functionality and design of existing blockchain websites, potentially becoming a valuable resource for both experienced and new users.
Coin exchange rate
$BTC 67275.57 USD (+0.86%) 🟢$LUNC 0.00008918 USD (-0.14%) 🔴$LUNA 0.43584408 USD (-0.95%) 🔴Community Voting and Price Impact
As of press time, the voting process remains ongoing with close results. The community has five days remaining to participate in this critical decision. Despite the undecided vote, the proposal sparked optimism within the Terra Classic community.
This newfound confidence was initially reflected in the price performance of LUNC and USTC (TerraClassicUSD), both experiencing notable gains but has since subsided.
LUNC currently sits at $0.00009032, representing a 1.41% decrease over the past day. USTC saw an even more impressive surge, rising 25% to reach $0.02121 but is currently at 0.0204 with a 2.70% decrease over the past 24 hours.
Potential for LUNC and the Importance of the Website
Although the prices are bearish at this point, LUNC has a strong chance of achieving its July target price. The potential launch of a dedicated website specifically designed to attract developers, creators, and lost traffic is another factor that could significantly contribute to the ongoing revival of Terra Classic.
The outcome of the community vote will be a key indicator of the project’s future direction. If approved, the new website has the potential to become a solution for the Terra Classic ecosystem, fostering growth and attracting broader interest in the LUNC token.
As of press time, the voting process remains ongoing with close results. The community has five days remaining to participate in this critical decision. Despite the undecided vote, the proposal sparked optimism within the Terra Classic community.
This newfound confidence was initially reflected in the price performance of LUNC and USTC (TerraClassicUSD), both experiencing notable gains but has since subsided.
LUNC currently sits at $0.00009032, representing a 1.41% decrease over the past day. USTC saw an even more impressive surge, rising 25% to reach $0.02121 but is currently at 0.0204 with a 2.70% decrease over the past 24 hours.
Potential for LUNC and the Importance of the Website
Although the prices are bearish at this point, LUNC has a strong chance of achieving its July target price. The potential launch of a dedicated website specifically designed to attract developers, creators, and lost traffic is another factor that could significantly contribute to the ongoing revival of Terra Classic.
The outcome of the community vote will be a key indicator of the project’s future direction. If approved, the new website has the potential to become a solution for the Terra Classic ecosystem, fostering growth and attracting broader interest in the LUNC token.
Terra Classic [LUNC] has once again come into the limelight with a promising performance over the last 24 hours. Meanwhile, investors’ interest in trading the token skyrocketed.
Let’s take a look at what’s going on and find out what to expect from the token in the coming days.
Terra Classic is pumping
Terra Classic has been on a gaining spree, as its price increased by more than 30% in the last seven days. According to CoinMarketCap, in the last 24 hours alone, the token witnessed a 16% price rise.
At the time of writing, LUNC was trading at $0.00009364 with a market capitalization of over $509 million. Alongside, its trading volume increased by more than 160% in the last 24 hours.
Generally, a rise in volume along with price acts as a foundation for a bull rally, indicating investors’ willingness to trade the token.
AMBCrypto’s look at Santiment’s data revealed that the bull rally also had a positive impact on its social metrics. The token’s Social Volume increased sharply, meaning that LUNC’s popularity was rising.
Nonetheless, it was surprising to note that its Weighted Sentiment remained in the negative zone, suggesting that bearish sentiment was dominant in the market.
Things in the derivatives market looked pretty optimistic, however.
AMBCrypto’s look at Coinglass’ data revealed that LUNC’s Long/Short Ratio improved, meaning that there were more long positions in the market than short, at press time.
This suggested that investors were expecting the token’s price to rise in the coming days.
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Coin exchange rate
$BTC 66533.486 USD (-1.09%) 🔴$LUNC 0.00008473 USD (-4.96%) 🔴$LUNA 0.42254202 USD (-3.05%) 🔴Will LUNC’s rally last?
We then took a look at the token’s daily chart. As per our analysis, LUNC was testing its crucial resistance at press time. It would be crucial for Terra Classic to go above that mark in order to maintain its bull rally.
The technical indicator MACD displayed a clear bullish advantage in the market. However, the Relative Strength Index (RSI) registered a slight downtick, which could cause trouble.
We then checked its liquidation heatmap to find out its short-term targets. A substantial amount of LUNC got liquidated when its price touched $0.000086.
This hinted at a possible price correction in the coming days. If that happens, then LUNC might enter a consolidation phase.
We then took a look at the token’s daily chart. As per our analysis, LUNC was testing its crucial resistance at press time. It would be crucial for Terra Classic to go above that mark in order to maintain its bull rally.
The technical indicator MACD displayed a clear bullish advantage in the market. However, the Relative Strength Index (RSI) registered a slight downtick, which could cause trouble.
We then checked its liquidation heatmap to find out its short-term targets. A substantial amount of LUNC got liquidated when its price touched $0.000086.
This hinted at a possible price correction in the coming days. If that happens, then LUNC might enter a consolidation phase.
Terra Classic’s [LUNC] Big Comeback: Will It Skyrocket 342%?
Terra Classic [LUNC], the embattled token of the collapsed Terra ecosystem, is displaying signs of a major bullish divergence amid a price rebound. This resurgence comes after a considerable period of consolidation following the TerraUSD (UST) de-pegging earlier this year.
According to technical analysis provided by Javon Marks, a bullish divergence between LUNC’s price and its On-Balance-Volume [OBV] indicator has emerged. The OBV is a key metric that measures the overall net volume flow, to predict future price movements. In the 3-day chart shown above, this technical indicator points out a potential breakout, with the price potentially surging by an eye-popping 342% to reach $0.00042986.
While LUNC’s revival is long awaited by the community and other stakeholders, the token’s rebound is no mere coincidence A recent lawsuit filed by the U.S. SEC against Ethereum firm Consensys could be the key catalyst in the token’s positive momentum. After a dilly-dallying tactic, The US regulator provided much-needed clarity on the classification of several cryptocurrencies, including LUNC, as securities, paving the way for the mainstream legitimization of the asset class.
Terra Classic [LUNC], the embattled token of the collapsed Terra ecosystem, is displaying signs of a major bullish divergence amid a price rebound. This resurgence comes after a considerable period of consolidation following the TerraUSD (UST) de-pegging earlier this year.
According to technical analysis provided by Javon Marks, a bullish divergence between LUNC’s price and its On-Balance-Volume [OBV] indicator has emerged. The OBV is a key metric that measures the overall net volume flow, to predict future price movements. In the 3-day chart shown above, this technical indicator points out a potential breakout, with the price potentially surging by an eye-popping 342% to reach $0.00042986.
While LUNC’s revival is long awaited by the community and other stakeholders, the token’s rebound is no mere coincidence A recent lawsuit filed by the U.S. SEC against Ethereum firm Consensys could be the key catalyst in the token’s positive momentum. After a dilly-dallying tactic, The US regulator provided much-needed clarity on the classification of several cryptocurrencies, including LUNC, as securities, paving the way for the mainstream legitimization of the asset class.
Coin exchange rate
$BTC 66002.038 USD (-0.8%) 🔴$LUNC 0.00008691 USD (+2.58%) 🟢$LUNA 0.42509662 USD (+0.57%) 🟢Binance Joins LUNC Revival
Apart from that, the Terra Luna Classic community recently voted on a proposal to create an independent community website modeled after Bitcoin.org. This initiative demonstrates the community’s commitment to rebuilding trust and fostering long-term growth.
Adding to the positive sentiment are a series of recent developments that are driving investor optimism. These include a recent significant token burn with strong community support, along with Binance’s support of burning 62 billion LUNC tokens.
Furthermore, Terraform Labs, the company behind the Terra blockchain, set August 9th as the deadline for submitting claims in its bankruptcy proceedings. Overall, the Terra ecosystem is buzzing with activities that might potentially turn around LUNC, despite its controversial past.
Apart from that, the Terra Luna Classic community recently voted on a proposal to create an independent community website modeled after Bitcoin.org. This initiative demonstrates the community’s commitment to rebuilding trust and fostering long-term growth.
Adding to the positive sentiment are a series of recent developments that are driving investor optimism. These include a recent significant token burn with strong community support, along with Binance’s support of burning 62 billion LUNC tokens.
Furthermore, Terraform Labs, the company behind the Terra blockchain, set August 9th as the deadline for submitting claims in its bankruptcy proceedings. Overall, the Terra ecosystem is buzzing with activities that might potentially turn around LUNC, despite its controversial past.
Terra Luna Classic community unanimously passed a major upgrade proposal to revise burn tax distribution. The upgrade will implement Oracle Split logic to divert community pool rewards from burn tax to the Oracle Pool (OP) and terrad client will reroute short-term rewards to long-term rewards. The upgrade will bring a major boost to staking and LUNC price.
Terra Luna Classic Upgrade v3.1.3 Proposal Officially Passed
The v3.1.3 upgrade proposal by Terra Classic popular developer Fragwuerdig has surpassed the pass threshold, as per voting details on the Station wallet. As per the GitHub, fixing parameters keys table, adjusting oracle split logic, and using wasmvm v1.5.2 to prevent memory leaks were primary tasks undertaken by the developers.
As reported earlier by CoinGape, the chain will halt at block height 19108180, anticipated on July 29 at 13:00 UTC. The community anticipates key LUNC news regarding token burns by TFL before the update.
The proposal received 99.99 “Yes” votes, which indicates major support from validators and delegators. Among 35 validators who participated in the governance voting, all validators including Allnodes, Interstellar Lounge, Stakely, JESUSisLORD, HappyCattyCrypto have voted in support of the proposal.
Terra Classic has a burn tax set to 0.5%. Out of this, 80% is for burn and 20% is distributed as — 10% to Community Pool and 10% to rewards. With the upgrade, the 20% will be distributed as 10% to Community Pool and 10% to Oracle pool. This will benefit validators as staking to increase after the upgrade. The staking ratio has increased to 15.36%.
Validators need to update with the v3.1.3 release after the chain halt and infrastructure providers with mantlemint accelerated LCDs need to install the updated mantlemint version.
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Coin exchange rate
$BTC 64149.033 USD (-2.81%) 🔴$LUNC 0.00008107 USD (-6.73%) 🔴$LUNA 0.39223304 USD (-7.73%) 🔴LUNC and USTC To Further Rally?
Terra Luna Classic ecosystem tokens remain under selling pressure amid the broader crypto market selloff. Despite LUNC 42% rally and USTC 52% recovery from the dip, the tokens are still trading below the year-to-date (YTD) high. The burn tax distribution and most-awaited Tax2Gas upgrade are likely to bring rally in prices.
LUNC price fell 5% in the last 24 hours, with the price currently trading at $0.00008468. The 24-hour low and high are $0.00008632 and $0.00009206, respectively. However, trading volume has increased by 20% in the last 24 hours.
Meanwhile, USTC price also dropped 3%, with the price now trading at $0.01935. The 24-hour low and high are $0.01916 and $0.02138, respectively. The trading volume saw an 81% jump over the last day.
Terra Luna Classic ecosystem tokens remain under selling pressure amid the broader crypto market selloff. Despite LUNC 42% rally and USTC 52% recovery from the dip, the tokens are still trading below the year-to-date (YTD) high. The burn tax distribution and most-awaited Tax2Gas upgrade are likely to bring rally in prices.
LUNC price fell 5% in the last 24 hours, with the price currently trading at $0.00008468. The 24-hour low and high are $0.00008632 and $0.00009206, respectively. However, trading volume has increased by 20% in the last 24 hours.
Meanwhile, USTC price also dropped 3%, with the price now trading at $0.01935. The 24-hour low and high are $0.01916 and $0.02138, respectively. The trading volume saw an 81% jump over the last day.
Terra Sets LUNC, USTC Recovery Timeline to Make Creditors Whole
The crash of Terra Luna has been a plague hanging over the cryptosphere for over two years. Terra Luna’s ecosystem implosion in May 2022 set off a tsunami of liquidations across the crypto sphere, coming from small-time and professional traders, crypto hedge funds, and partnering cryptocurrencies.
The nightmare seems to be over, as investors have been given a timeline for when Terra’s bankruptcy proceeds will be distributed at least partly to the ill-treated investors.
The Aftermath of Terra Luna’s System Crash
Terra USD (UST) fell to pieces in a few days. Over two years later, the Layer-1 chain’s founder, Do Kwon, is still in Montenegro, completing a four-month jail bid for document forgery.
While Do Kwon’s fate remains heavily in the hands of the U.S. Securities and Exchange Commission (SEC), the devastated investors exposed to Terra Luna are offered a helping hand from TerraForm Labs.
This is great news for the victims of the Terra Luna downfall, as it offers a pathway to restitution via the Crypto Loss Bar Date. This is related to the Chapter 11 bankruptcy of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL). However, strict deadlines are imposed for applicants who want to be considered when voting on the debtor’s upcoming reorganization.
The crash of Terra Luna has been a plague hanging over the cryptosphere for over two years. Terra Luna’s ecosystem implosion in May 2022 set off a tsunami of liquidations across the crypto sphere, coming from small-time and professional traders, crypto hedge funds, and partnering cryptocurrencies.
The nightmare seems to be over, as investors have been given a timeline for when Terra’s bankruptcy proceeds will be distributed at least partly to the ill-treated investors.
The Aftermath of Terra Luna’s System Crash
Terra USD (UST) fell to pieces in a few days. Over two years later, the Layer-1 chain’s founder, Do Kwon, is still in Montenegro, completing a four-month jail bid for document forgery.
While Do Kwon’s fate remains heavily in the hands of the U.S. Securities and Exchange Commission (SEC), the devastated investors exposed to Terra Luna are offered a helping hand from TerraForm Labs.
This is great news for the victims of the Terra Luna downfall, as it offers a pathway to restitution via the Crypto Loss Bar Date. This is related to the Chapter 11 bankruptcy of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL). However, strict deadlines are imposed for applicants who want to be considered when voting on the debtor’s upcoming reorganization.
Coin exchange rate
$BTC 66913.277 USD (+4.31%) 🟢$LUNC 0.00008289 USD (+2.26%) 🟢$LUNA 0.40425192 USD (+3.06%) 🟢How to Get Your Money Back from Terra
Any person or a business entity that believes the debtors own them crypto during their operational period can file claims for the Chapter 11 bankruptcy case. For your claim to be included in the upcoming Chapter 11 bankruptcy voting process, the application must be submitted by August 21, 2024, at 5:00 PM ET.
The Crypto Loss Claim is relevant to investors who had an issue with TerraForm Labs before January 21, 2024, or with TLL before July 1, 2024. TerraForm Labs’ official message on X emphasized the importance of filing promptly; otherwise, the creditor won’t be included in the voting process on the debtor’s plan.
Any person or a business entity that believes the debtors own them crypto during their operational period can file claims for the Chapter 11 bankruptcy case. For your claim to be included in the upcoming Chapter 11 bankruptcy voting process, the application must be submitted by August 21, 2024, at 5:00 PM ET.
The Crypto Loss Claim is relevant to investors who had an issue with TerraForm Labs before January 21, 2024, or with TLL before July 1, 2024. TerraForm Labs’ official message on X emphasized the importance of filing promptly; otherwise, the creditor won’t be included in the voting process on the debtor’s plan.