LUNC News: The Terra ecosystem tokens rallied today after Terra Luna Classic completed the major update needed for the long-anticipated Tax2Gas feature implementation. Meanwhile, the proposal for an upgrade to v3.1.6 has passed with 100% votes in favor of it. It marks a significant milestone for the community, as it aims to enhance transaction efficacy while strengthening the ecosystem security.
Please open Telegram to view this post
VIEW IN TELEGRAM
👍6
Gotbit market maker CEO Alexey Andryunin criticizes Portugal and awaits extradition to the United States.
As part of the investigations against Gotbit and other companies, the US FBI created a small crypto token called NexFundAI and registered a similar company to enter into an agreement with them and confirm the facts of inflated trading volumes and market manipulation.
The FBI website has published a form for a refund application for those who bought these tokens.
According to the Ministry of Justice, the arrests took place in the US, UK and Portugal. Confiscated cryptocurrency worth $25 million and disabled bots for creating fictitious trading volumes for more than 60 crypto assets.
As part of the investigations against Gotbit and other companies, the US FBI created a small crypto token called NexFundAI and registered a similar company to enter into an agreement with them and confirm the facts of inflated trading volumes and market manipulation.
The FBI website has published a form for a refund application for those who bought these tokens.
According to the Ministry of Justice, the arrests took place in the US, UK and Portugal. Confiscated cryptocurrency worth $25 million and disabled bots for creating fictitious trading volumes for more than 60 crypto assets.
👍1
In the latest LUNC news, the v3.1.6 upgrade introduces critical improvements, including a security patch for the WebAssembly Virtual Machine (wasmvm), now updated to version 1.5.5. This ensures that the Terra Luna Classic blockchain remains resilient against potential security vulnerabilities.
Besides, the upgrade also includes an enhancement to the gas simulation feature for taxable transactions, further optimizing transaction handling across the network. Previously, the gas simulation improvements had only been accessible to endpoint providers, but this upgrade makes it available for broader network use.
Meanwhile, the upgrade also halts the blockchain at block height 20085000, allowing validators to install the latest terrad client. With 100% of the Terra community voting in favor of this proposal, the consensus behind the upgrade was overwhelming.
Notably, Terra Luna Classic developer StrathCole, who initially submitted the proposal, noted that the patch and simulation improvements were key for the upcoming Tax2Gas feature. The support from both validators and community members underscores the growing momentum behind LUNC’s development.
Please open Telegram to view this post
VIEW IN TELEGRAM
🔥2👍1
This latest LUNC news has sparked the community’s optimism. Commenting on the successful completion of the upgrade, a prominent figure in the LUNC community, Mr. Diamondhandz1, expressed enthusiasm. In a recent X post, he said:
The LUNC blockchain has successfully upgraded to v3.1.6! This upgrade added a security patch for wasmvm and included a gas simulation patch. Well done to all validators and StrathCole for the excellent upgrade.
Meanwhile, the completion of this upgrade comes at a crucial time for Terra Luna Classic as it seeks to regain investor confidence. The much-anticipated Tax2Gas implementation is expected to play a significant role in LUNC’s future growth by streamlining the gas tax system and improving overall transaction efficiency.
Following the development, LUNC price rallied more than 6% today and exchanged hands at $0.00008679, while its trading volume soared 22% to $20.05 million. The crypto has touched a high of $0.00008804 in the last 24 hours.
On the other hand, USTC price jumped over 7% at the same time and traded at $0.02188, while its trading volume rocketed 106% to $49.81 million. The crypto has touched a high of $0.02368 and a low of $0.01992 in the last 24 hours.
Please open Telegram to view this post
VIEW IN TELEGRAM
🔥2
Terra Luna Classic price has been one of the most eventful in the crypto space. From trading over $100 in 2022 to less than a penny in 2024, LUNC’s price has seen it all. After the collapse of Terra algorithmic stablecoin UST in 2022, few imagined that the blockchain would survive and even thrive. But two years on, the Terra Luna Classic network and community are more vital than ever.
The main moving factor for the LUNC price these past couple of years has been the possibility of one day burning a large chunk of the huge supply and returning LUNC to over $100. Despite its turbulent past, the ‘LUNCArmy’ community remains committed to reviving the token mainly through increased token burns and network upgrades.
Please open Telegram to view this post
VIEW IN TELEGRAM
🙏5🥱5🤡4🤣4
Terra Luna Classic emerged after the infamous collapse of the Terra Luna project in 2022. The coin was part of the Terra ecosystem, which powered the algorithmic stablecoin UST (now USTC).
The project suffered a massive blow following the de-pegging of UST from the dollar, leading to a hard fork. Whereas the old chain was called Terra Classic, the token Terra (LUNA) came to be rebranded as Terra Luna Classic (LUNC), while the new version of Terra kept on working with a token called LUNA 2.0.
The Terra Luna Classic blockchain continues the original Terra network goal of building a decentralized financial world. The project uses the PoS consensus algorithm, which permits users to stake tokens and maintain the network as a reward.
The total supply of LUNC is approximately 6.77 trillion tokens, with a circulating supply of around 5.72 trillion tokens. With a price of $0.00008973, LUNC boasts a market cap of $514 million, which could grow as token burns become more intensive.
Since the crash, the community has mainly worked toward increasing the LUNC burn rate to shrink the enormous supply and boost demand with an increase in the token’s price. Not deterred by the setback, the community is very strong in working on rebuilding the platform and trying to attract more developers and users into the Terra Classic ecosystem.
Please open Telegram to view this post
VIEW IN TELEGRAM
💩2🤣1🖕1
LUNC (Terra Classic) is trading about $0.000089 at the time of writing, a noteworthy 18.27% growth over the last 30 days despite small corrections recently. Given market analysts projections of more bullish movement, this spike has generated new curiosity in the path of the token.
Popular analyst Javon Marks has tweeted his positive view of LUNC’s future, noting that both token price and RSI keep breaking out on the bullish side. Marks’s tweet underlined that the price and RSI of LUNC still hold nicely broken out, prepare to upside.
The crypto market has taken notice of this audacious forecast since it suggests a significant price surge, therefore perhaps propelling LUNC to a 545% increase from its present levels.
Please open Telegram to view this post
VIEW IN TELEGRAM
👏2💩2🤣2🖕1
Beyond fluctuations in price, there have been important changes inside the Terra Luna Classic ecosystem that might be rather important for LUNC going forward. Especially, as we previously noted, the community has decided to burn approximately 46 million USTC tokens in an effort to lower the stablecoin’s current circulation.
Considered as a strategic action to restore equilibrium in the Terra ecosystem, this plan aims to burn precisely 46.55 million USTC through contract migration.
Particularly among LUNC holders who see these initiatives as a path towards recovery following the collapse of the ecosystem in 2022, the burn event is predicted to have a major effect on market attitude.
Complementing the string of noteworthy events, Terraform Labs—the company behind Terra Classic—has also come under close attention. According to CNF, following a bankruptcy hearing, the company reportedly got court permission to stop running in September.
Although this legal development marks the end of a turbulent era for Terraform Labs, the Terra Luna Classic community is still active, concentrating on long-term ecosystem rebuilding.
Please open Telegram to view this post
VIEW IN TELEGRAM
💩2🤣1🖕1
According to what some analysts shared on X, the crypto LUNC of the Terra Luna Classic project could soon go through a strongly bull phase.
In particular, several technical indicators seem to suggest a potential 545% pump, in the midst of the crypto speculation frenzy.
In the meantime, the community of the currency is working to give value to LUNC and revive the project from the crash of May 2022.
Please open Telegram to view this post
VIEW IN TELEGRAM
🙏7👍3💩3🤣2👎1
Technical indicators suggest a pump is coming for the crypto Terra Luna Classic (LUNC)
The crypto LUNC (Terra Luna Classic) seems to have been moving steadily in a bear perspective for months, but it might soon reverse course.
Some market analysts, like the well-known Javon Marks, have written on X to expect a strong bull rally for the cryptocurrency. The set target suggests that LUNC should grow by 545% compared to current prices.
To justify this optimism, according to Marks, is the graphical trend of the RSI indicator which continues to grow despite the depreciations.
These conditions, known as RSI divergence, increase the likelihood of a bull movement for crypto LUNC.
The indicator shows that an unusual trading force for a product that has been traded in a bear market for a long time. Usually, these cases open the doors to short-squeeze and double-digit percentage green candles.
The crypto LUNC (Terra Luna Classic) seems to have been moving steadily in a bear perspective for months, but it might soon reverse course.
Some market analysts, like the well-known Javon Marks, have written on X to expect a strong bull rally for the cryptocurrency. The set target suggests that LUNC should grow by 545% compared to current prices.
To justify this optimism, according to Marks, is the graphical trend of the RSI indicator which continues to grow despite the depreciations.
These conditions, known as RSI divergence, increase the likelihood of a bull movement for crypto LUNC.
The indicator shows that an unusual trading force for a product that has been traded in a bear market for a long time. Usually, these cases open the doors to short-squeeze and double-digit percentage green candles.
🙏5💩3👎2🤣1🖕1
LUNC trading: a past of manipulations and wild speculations
The crypto LUNC (Terra Luna Classic) was originally known as LUNA, before one of the most impactful collapses in the crypto world occurred in May 2022.
The cryptocurrency, which at the time was worth over 100 dollars for a capitalization of 40 billion dollars, was the victim of an attack on its algorithmic stablecoin UST.
The result is that the supply of the crypto has increased dramatically, leading to a rapid devaluation and general panic among the holders.
In a few days, the progress of the previous years was wiped out, bringing LUNA (later renamed LUNC) practically to zero.
In the meantime, the community has split in two, with one part executing a fork of the chain and the other remaining in the original cryptographic environment.
The crypto LUNC (Terra Luna Classic) was originally known as LUNA, before one of the most impactful collapses in the crypto world occurred in May 2022.
The cryptocurrency, which at the time was worth over 100 dollars for a capitalization of 40 billion dollars, was the victim of an attack on its algorithmic stablecoin UST.
The result is that the supply of the crypto has increased dramatically, leading to a rapid devaluation and general panic among the holders.
In a few days, the progress of the previous years was wiped out, bringing LUNA (later renamed LUNC) practically to zero.
In the meantime, the community has split in two, with one part executing a fork of the chain and the other remaining in the original cryptographic environment.
🤣4💩3🖕2
The Terra Luna Classic community supports the potential growth of the crypto
Setting aside the speculative aspect of the crypto LUNC, it is worth highlighting how the Terra Luna Classic community is working hard to restore dignity to the project.
Despite the numerous difficulties with a blockchain abandoned by a wide range of developers, the users aimed to restore the balance.
Various initiatives have been proposed to offer more incentives to users and programmers, with the aim of repopulating the ecosystem.
Recently, the community voted to implement a burning plan of 46.55 million USTC (formerly UST) through contract migration.
In particular, this move could have a strong positive impact on the price of LUNC, pushing the price of the crypto upwards.
By reducing the current circulation of the stablecoin, a mechanism is implied in which LUNC becomes more appealing in the market, supporting Marks’ bull thesis.
Furthermore, it is important to highlight how recently the actual closure of Terraform Labs (the company behind Terra Luna Classic) has been established, finally eliminating an aspect of centralization.
By doing so, the LUNC project becomes effectively owned by the community itself, which focuses on long-term rebuilding.
It’s difficult for it to return to the pre-dump levels of May 2022, however, we do not rule out a significant appreciation of the token.
Attention to not overexpose yourself on products like LUNC because although the potential is high, they imply an enormous speculative risk.
Setting aside the speculative aspect of the crypto LUNC, it is worth highlighting how the Terra Luna Classic community is working hard to restore dignity to the project.
Despite the numerous difficulties with a blockchain abandoned by a wide range of developers, the users aimed to restore the balance.
Various initiatives have been proposed to offer more incentives to users and programmers, with the aim of repopulating the ecosystem.
Recently, the community voted to implement a burning plan of 46.55 million USTC (formerly UST) through contract migration.
In particular, this move could have a strong positive impact on the price of LUNC, pushing the price of the crypto upwards.
By reducing the current circulation of the stablecoin, a mechanism is implied in which LUNC becomes more appealing in the market, supporting Marks’ bull thesis.
Furthermore, it is important to highlight how recently the actual closure of Terraform Labs (the company behind Terra Luna Classic) has been established, finally eliminating an aspect of centralization.
By doing so, the LUNC project becomes effectively owned by the community itself, which focuses on long-term rebuilding.
It’s difficult for it to return to the pre-dump levels of May 2022, however, we do not rule out a significant appreciation of the token.
Attention to not overexpose yourself on products like LUNC because although the potential is high, they imply an enormous speculative risk.
👍4🥴3
General situation of the altcoin sector
Analysts of the crypto LUNC (Terra Luna Classic) should also keep an eye on the overall market situation of altcoin to assess the most suitable time for a bull run.
Normally, alternative coins to Bitcoin perform well when the latter loses ground in the market in terms of capitalization dominance.
For almost 2 years now, the entire market stage has been in favor of the king of the market, which has seen its dominance grow from 40 to 58%.
As soon as we see the first drop in dominance BTC below the EMA 50 (currently at 54.5%), we might also observe the coordinated growth of altcoins.
Cryptos like LUNC would obviously benefit, opening the doors to brief periods of trading outside the ordinary.
Obviously, it is not certain that LUNC will precisely follow the trend of the other coins, but it is likely that it will reflect a similar pattern.
At this moment, the general alt market is weak, with few cases of coins that have outperformed Bitcoin.
Even Ethereum is in a condition of clear weakness, overshadowed by the better performance of the top-ranked currency.
We will see if in the coming weeks something will start to move, offering appreciation opportunities for LUNC.
Analysts of the crypto LUNC (Terra Luna Classic) should also keep an eye on the overall market situation of altcoin to assess the most suitable time for a bull run.
Normally, alternative coins to Bitcoin perform well when the latter loses ground in the market in terms of capitalization dominance.
For almost 2 years now, the entire market stage has been in favor of the king of the market, which has seen its dominance grow from 40 to 58%.
As soon as we see the first drop in dominance BTC below the EMA 50 (currently at 54.5%), we might also observe the coordinated growth of altcoins.
Cryptos like LUNC would obviously benefit, opening the doors to brief periods of trading outside the ordinary.
Obviously, it is not certain that LUNC will precisely follow the trend of the other coins, but it is likely that it will reflect a similar pattern.
At this moment, the general alt market is weak, with few cases of coins that have outperformed Bitcoin.
Even Ethereum is in a condition of clear weakness, overshadowed by the better performance of the top-ranked currency.
We will see if in the coming weeks something will start to move, offering appreciation opportunities for LUNC.
👍1
We are launching a quick contest for $100. To participate, you need to follow the link and subscribe to the channels
To increase your chances of winning, you can invite your friends using a referral link. For each invited friend, you will be awarded 10 points.
📆 The results of the contest will be 10/19/24 17:00 UTS
Good luck to everyone!
Please open Telegram to view this post
VIEW IN TELEGRAM
👍7🔥2❤1
According to what some analysts shared on X, the crypto LUNC of the Terra Luna Classic project could soon go through a strongly bull phase.
In particular, several technical indicators seem to suggest a potential 545% pump, in the midst of the crypto speculation frenzy.
In the meantime, the community of the currency is working to give value to LUNC and revive the project from the crash of May 2022.
Please open Telegram to view this post
VIEW IN TELEGRAM
👍10❤1🤡1
The crypto LUNC (Terra Luna Classic) seems to have been moving steadily in a bear perspective for months, but it might soon reverse course.
Some market analysts, like the well-known Javon Marks, have written on X to expect a strong bull rally for the cryptocurrency. The set target suggests that LUNC should grow by 545% compared to current prices.
To justify this optimism, according to Marks, is the graphical trend of the RSI indicator which continues to grow despite the depreciations.
These conditions, known as RSI divergence, increase the likelihood of a bull movement for crypto LUNC.
The indicator shows that an unusual trading force for a product that has been traded in a bear market for a long time. Usually, these cases open the doors to short-squeeze and double-digit percentage green candles.
The analyst states that the currency could visit the level of $0.0059, which would mean a growth of about 6 times the current value.
The capitalization of the Terra Luna Classic project would rise to about 2.5 billion dollars, earning a place in the top 50 ranking according to CoinMarketCap.
Despite the target may seem exaggerated, we remember that in the past LUNC has often hosted totally unexpected movements.
The traders of the Terra Luna Classic project indeed follow speculative logics out of the ordinary.
Please open Telegram to view this post
VIEW IN TELEGRAM
👍4😴1
The crypto LUNC (Terra Luna Classic) was originally known as LUNA, before one of the most impactful collapses in the crypto world occurred in May 2022.
The cryptocurrency, which at the time was worth over 100 dollars for a capitalization of 40 billion dollars, was the victim of an attack on its algorithmic stablecoin UST.
The result is that the supply of the crypto has increased dramatically, leading to a rapid devaluation and general panic among the holders.
In a few days, the progress of the previous years was wiped out, bringing LUNA (later renamed LUNC) practically to zero.
In the meantime, the community has split in two, with one part executing a fork of the chain and the other remaining in the original cryptographic environment.
The heroes who chose to stay on the old chain, changing the crypto ticker to LUNC, then fueled a phase of speculation and manipulation of prices.
From June 2022 to today, there have been some phases of uncontrolled and unjustified rise, driven by low liquidity for trading.
In September 2022, in a few days the price of LUNC rose from 0.00009 dollars to 0.0005 dollars, offering ample profit opportunities to speculators.
In December 2023, after a long downtrend phase, the followers of the crypto Terra Luna Classic returned to push the price up.
Here too, the rise offered easy multipliers to traders who manipulated the trend in the bull market of the crypto product.
We would not be surprised, therefore, to see, as analyst Marks suggests, a growth up to 545% for LUNC.
Please open Telegram to view this post
VIEW IN TELEGRAM
Please open Telegram to view this post
VIEW IN TELEGRAM
🥱2👍1