- The Terra Luna Classic community is pushing for a new proposal to enhance the token’s visibility.
- LUNC price is undergoing a bearish selloff but with promising forecasts.
The Terra Luna Classic community is voting on Proposal 12147 to update LUNC and USTC on CoinMarketCap. This voting comes ahead of LUNC’s v3.3.0 upgrade, which aims to streamline tax handling and boost security, enhancing the ecosystem.
Growing Support For Proposal 12147
So far, 215 delegators and 30 validators have voted yes, highlighting the growing support for Proposal 12147. Voter turnout is currently split, with 51% yes vote and 37% voting no. The proposal is a big deal for the LUNC community as it would increase visibility and accessibility for existing and new investors.
#TerraClassic #LUNC, the community is voting on Proposal 12147, which is all about updating the #CoinMarketCap dashboard with accurate info. It’s happening right before the big v3.3.0 upgrade that’s set to make tax handling easier and boost utility.
The proposal is almost at… pic.twitter.com/AglHVzRGxu
— Crypto-00711 (@00711Crypto) December 14, 2024
However, community personalities like HappyCattyCrypto opined that CoinMarketCap links are centralized and lack important metrics and tools for LUNC. Nevertheless, the proposal will give Allnodes, a top validator dashboard, access to implement changes.
Upon approval, the dashboard will include links to the Terra Classic Documentation, Galaxy Finder, GitHub, and Commonwealth Forums. The aim is to increase community engagement, transparency, and ecosystem growth.
Another crucial development on the cusp of the Terra Luna Classic ecosystem is the blockchain upgrade to version 3.3.0. As CNF reported, the upgrade is scheduled to commence on December 17, temporarily halting the chain to implement the changes.
The upgrade will help to streamline tax handling and provide more utility for Terra Luna Classic. It will also reduce development barriers for Decentralized Applications (dApps) to build on the platform. This will encourage more projects to adopt the Terra Luna Classic chain.
LUNC and USTC Price Analysis
The market appears bearish for Terra Luna Classic, with LUNC trading for $0.0001319, down 0.16% in 24 hours. LUNC declined by 20.73% within the last seven days, while the 24-hour trading volume dropped 15.64% to $54.4 million.
The declining trading volume suggests reduced investor interest in the token. Still, analysts predict that LUNC will see a big rally similar to XRP’s recent one. However, the analysts’ forecast depends on XRP’s breaking above the $0.00018 resistance.
Some analysts estimate a $0.0005 target for LUNC. The ecosystem’s improved openness in government and community-driven projects has also renewed optimism for LUNC’s future.
Furthermore, a recent token burn of over 3.1 billion LUNC has caught the attention of investors, per a CNF report. This has sparked renewed interest in the token, a major element anticipated to drive further price gains before the year ends.
Regarding TerraClassicUSD (USTC), the price declined slightly by 0.89% in the last 24 hours to trade at $0.02424. Market analysts attribute the price decline to profit-taking. Moreover, the daily trading volume also decreased by 43.15% to $9.75 million, indicating investors reduced interest.
