The Terra Luna Classic (LUNC) developer L1 Terra Classic Task Force (L1TF) has completed the preparation for the mainnet launch of the v2.2.0 core upgrade. The upgrade is expected to be launched in September and will bring a total improvement in the Terra Classic infrastructure. It will also update the Cosmos SDK to SDK 46 and the IBC-go to v6. The team is also exploring the possibility of transitioning the oracle and the 20 percent VP limit logic to the core from forked cometbft and cosmos-sdk.In the past week, the team also evaluated the LUNC cap proposal to prevent the chain from minting more LUNC in each block. This change may be a threat to the chain’s stability, though it may improve the source of income for delegators, validators, and the community pool.In the wake of this development, the price of Terra Luna Classic (LUNC) and USTC have shown signs of recovery as sentiments move to bullish. In 24 hours, LUNC surged by 5 percent and is currently trading at $0.000064 with a market cap of $373,401,992. USTC, on the other hand, is trading around $0.012 after making a quick recovery of nearly 5 percent in 24 hours.In July, a crypto analyst known as Javon Marks predicted that LUNC could surge by almost 400 percent. However, the asset saw a huge drop from $0.0000658 to $0.0000523 after an unexpected selling pressure was recorded in mid-August. Despite this, the asset still proved its resilience as it recorded several intermittent bullish runs and interesting rebounds to force a recovery.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 8 |
| People | Grayscale, SEC, Vinh Nguyen, Javon Marks |
| Companies | IBC-go, Terra Luna Classic, Grayscale, L1 Terra Classic Task Force, Cosmos SDK |
| Currencies | Bitcoin, Terra Luna Classic, Ethereum, TerraClassicUSD |
| Securities | None |
