Terra Classic (LUNC) Surges 20% in Anticipation of Parity Upgrade

The Terra Classic (LUNC) token has increased by over 20% in the past 24 hours as the community discusses the Parity upgrade. If the proposal is approved, the upgrade is expected to be passed on June 14.

Timeline of Terra-luna

Terra Luna Classic (LUNC) price skyrocketed 35% supported by a massive increase in trading volume. The rally came in response to Binance delisting the USDⓈ-M 1000LUNCBUSD Perpetual Contract, as well as updating leverages and margins for the perpetual contract.

Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, has seen a resurgence in the past 24 hours. What Happened: The token has shot up by 20% following the announcement of the v2.1.0 upgrade proposal, which has generated significant attention among investors.

Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, has experienced a significant surge in value, offering a glimmer of hope amidst weeks of bearish sentiment. Indeed, the gains come as the LUNC community implements various initiatives aiming to give the network utility.

Amid the last three weeks' consolidation, the LUNC price formed a descending triangle pattern in the 4-hour time frame. Though this pattern commonly accelerates the supply pressure in an asset, in rare cases, the buyers express higher dominance with the breakout out of its resistance trendline.

Terra Classic core developer group Joint L1 Task Force (L1TF) officially released the proposal for the v2.1.0 upgrade for discussion and review on Commonwealth. It is one of the biggest upgrades since the Terra Classic community took charge of the blockchain after the Terra-LUNA crisis in May last year.

LUNC News: Terra Classic core developer team Joint L1 Task Force (L1TF) on Monday said the developer group will assist Dapps with critical requirements before the CosmWasm v2.1.0 parity upgrade. Joint L1 Task Force project manager LuncBurnArmy has asked Dapp owners or Dapps having any sealed smart contract to reach out to developer Fragwuerdig for any

Terra Classic Price Analysis: The ongoing consolidation phase in the LUNC price founds suitable support at the $0.0000825 level. Over the last three weeks, the coin price rebounded thrice from this aforementioned indicating the traders are actively accumulating at this support.

After burning nearly 2.5 billion Terra Classic (LUNC) tokens this month, decentralized finance protocol DFLunc shifted its focus to the highly awaited AI app chain “Block Entropy” by core developer Edward Kim. The project has burned millions of LUNC tokens token this week in order to obtain Block Entropy TestNet tokens.

In the aftermath of Terra's (LUNA) crash in 2022, which led to its rebranding as Terra Classic (LUNC), the cryptocurrency continues to pique the interest of numerous investors and traders.

Terra Classic Price Analysis: Amid the highly volatile market phase, the LUNC price remained in a sideways trend over the past two weeks. However, the daily chart shows this consolidation was restricted within two converging trendlines indicating the formation of an inverted pennant pattern.