LUNC Price Skyrockets Following Terra Classic (LUNC) Community’s Approval of Crucial Upgrade Proposal

<ul>
  <li>Terra Luna Classic community has approved the v3.0.1 upgrade proposal by code developer Genuine Labs.</li>
  <li>The proposal has received unanimous support from the Terra Luna Classic community and validators.</li>
  <li>LUNC and USTC prices jump in response to the narrative.</li>
</ul>

<p><strong>Discover the latest developments in the Terra Luna Classic ecosystem as the community approves a significant upgrade proposal, driving LUNC and USTC prices higher.</strong></p>

<h2><strong>Terra Luna Classic Community Approves Upgrade Proposal</strong></h2>
<p>Proposal 12110 “Genuine Labs’s proposal for v3.0.1 Upgrade” has surpassed the pass threshold, with five days still remaining in governance voting. The Terra Classic chain will be halted at <strong>block height 18,303,000</strong> and the protocol will require validators to replace the old binary with the new. The upgrade is estimated to happen on June 2, 2024 at 17:44 UTC, as per the countdown by StakeBin.</p>
<p>The proposal has received unanimous support from the Terra Luna Classic community and validators. It has received 99.9% “Yes” votes, indicating the importance of the upgrade for the chain to boost efficiency, robustness, and security. Among validators who participated in the voting, all 38 including Orion, Interstellar Lounge, Stakely, Luna Station 88, and StakeBin have voted in favor of the proposal.</p>
<p>As CoinOtag reported, this upgrade consists of several key elements including <strong>SDK v0.47</strong>, <strong>wasmd v0.45</strong>, <strong>ibc-go v7</strong>, and a <strong>p2p storm fix</strong> aimed at enhancing the operation and performance of networks.</p>

<h3><strong>LUNC and USTC Prices Jump</strong></h3>
<p>Terra Luna Classic ecosystem tokens’ prices jumped amid a massive rise in trading volumes and open interests. However, prices are still trading below key resistance levels.</p>
<p><a href="#" target="_blank" rel="noopener">Terra Classic price</a> jumped 5% in 24 hours and 12% in a week, with the LUNC price currently trading at $0.0001156. The 24-hour low and high are $0.0001103 and $0.0001162, respectively. Furthermore, trading volume has increased by 45% in the last 24 hours, indicating a rise in interest among traders.</p>
<p>LUNC and LUNC futures open interests climbed 9% in the past 24 hours, with a 3% net rise in the past hour. The derivatives traders are anticipating an increase in prices among positive sentiments in the industry.</p>
<p>Meanwhile, <a href="#" target="_blank" rel="noopener">USTC price</a> is also trading sideways at <span class="sc-f70bb44c-0 jxpCgO base-text">$0.02276</span>. The 24-hour low and high are $0.02204 and $0.02277, respectively. The price is up 22% in this month.</p>

<h3><strong>Conclusion</strong></h3>
<p>The Terra Luna Classic community's approval of the v3.0.1 upgrade proposal marks a significant milestone in the ecosystem's development. The unanimous support underscores the importance of the upgrade in enhancing the chain's efficiency, robustness, and security. As LUNC and USTC prices respond positively, the future outlook remains optimistic, with traders closely monitoring the market for further developments.</p>