- Terra Luna Classic developers have successfully completed the much-anticipated v3.1.5 upgrade.
- This upgrade includes pivotal improvements such as enhanced transaction efficiency and a crucial security fix for wasmd.
- Despite the technical advancements, LUNC and USTC prices have seen a decline due to broader market sentiment.
Terra Luna Classic completes critical v3.1.5 upgrade, enhancing security and transaction efficiency amid market volatility.
Terra Luna Classic v3.1.5 Upgrade: A Significant Milestone
The Terra Luna Classic development team has completed the v3.1.5 upgrade, a significant development in the blockchain’s evolution. This upgrade introduces critical security patches for wasmd, alongside improvements in transaction efficiency and readiness for the impending Tax2Gas implementation. The upgrade was initiated at block height 19850000 with the first block proposed by the Interstellar Lounge validator, making it the swiftest upgrade of the chain to date.
Support from Binance Boosts Confidence
Binance, the world’s largest cryptocurrency exchange, has shown strong support for the Terra Luna Classic’s recent developments. To facilitate the upgrade, Binance temporarily suspended deposits and withdrawals of Terra Classic ecosystem tokens, ensuring optimum user experience. Binance has been a consistent ally of the Terra Classic community, burning billions of LUNC tokens monthly. Over the past two years, Binance has burned a staggering 64.47 billion LUNC tokens, which constitutes 48.5% of the total tokens burned by the community.
Market Reaction: LUNC and USTC Price Movements
Despite the landmark upgrade, the broader market sentiment has impacted LUNC and USTC prices. LUNC’s price has retreated by 1.74% over the last 24 hours, with a trading range fluctuating between $0.00007942 and $0.00008332. However, trading volume surged by 25%, reflecting heightened trader interest. Similarly, USTC has also experienced a decline, trading at $0.01645, down by 1% over the same period, and even more notably, 8% over the week.
Future Outlook for Terra Luna Classic
The recent v3.1.5 upgrade signifies more than just technical enhancements for Terra Luna Classic. It sets the stage for future developments such as the Tax2Gas implementation, aimed at optimizing transaction costs and increasing the blockchain’s overall efficiency. While the immediate market reaction has been lukewarm, the foundational improvements made by this upgrade may pave the way for long-term growth and stability within the ecosystem.
Conclusion
The v3.1.5 upgrade marks a critical milestone for Terra Luna Classic, enhancing both security and transaction efficiency. Despite recent declines in LUNC and USTC prices influenced by broader market trends, the technical advancements position Terra Luna Classic for a robust future. Continuous support from key players like Binance further bolsters community efforts, suggesting a promising trajectory for Terra Luna Classic in the evolving crypto landscape.
