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Luna Classic Embracing EVM for a Resurgence in ProgrammabilityTerra Luna Classic ($LUNC) is set to undergo a transformative revival as it embraces Ethereum Virtual Machine (EVM) support. The proposal, aptly named "Investigate EVM Functionality" (Proposal 11978), has garnered significant community support, signaling a strategic move towards enhanced programmability, composability, and interoperability. This bold initiative positions Terra Luna Classic to join the ranks of blockchain projects adopting widely-used standards, potentially attracting major players like Curve DAO, Uniswap, ChainLink, Hedera, and others. The EVM Support Proposition: Terra Luna Classic's proposal to introduce EVM support is more than just a technical upgrade; it's a visionary step towards adapting to new and emerging technologies. By integrating the Ethereum Virtual Machine, Terra Luna Classic aims to leverage the programming capabilities offered by the Solidity language, a hallmark of EVM chains. This move aligns the community-led Terra Classic chain with cutting-edge developments in the blockchain space. Advantages and Functionality: The advantages of EVM support on Terra Luna Classic are manifold. The proposal emphasizes the potential for the chain to seamlessly integrate with Optimistic transactions and Rollups, promising increased efficiency and scalability. Optimistic transactions, in particular, offer a novel approach where Terra Classic can execute transactions without revealing direct security information, enhancing privacy and security. As ClanMudhorn of Terrarium validator points out, "Terra Classic will have the potential to become compliant with new and emerging technologies like Optimistic transactions, where Terra Classic does not need to send direct security information on each transaction, and Rollups, which allow significantly more transactions to be processed at once, dramatically increasing the processing power of Terra Classic." Community Support and Governance-Driven Decision Making: The proposal has already surpassed the pass threshold, with over 62% of the community voting in favor. A total of 29 validators have thrown their support behind the initiative, showcasing the widespread enthusiasm for the integration of EVM functionality. The voting deadline is set for January 17, and if all goes as planned, Terra Luna Classic will mark a significant milestone in its evolution. Strategic Interoperability and Industry Adoption: By incorporating EVM support, Terra Luna Classic positions itself strategically in the blockchain ecosystem. The move towards interoperability and adherence to widely-used blockchain development standards open the door to collaborations with major projects in the space. The proposal specifically mentions the potential integration with Curve DAO, Uniswap, ChainLink, Hedera, and others, which could bring a new wave of innovation and utility to Terra Luna Classic. Conclusion: Terra Luna Classic's pursuit of EVM support is a compelling narrative of adaptation and evolution in the fast-paced world of blockchain technology. The community's endorsement of the proposal underscores the collective vision for Terra Luna Classic's future. As the voting deadline approaches, the crypto community eagerly anticipates the resurgence of Terra Luna Classic as it ventures into a new era of programmability, composability, and interoperability, setting the stage for a dynamic and inclusive blockchain ecosystem.
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by DEXWireNews
Binance Burns 5.57 Billion Terra Luna Classic In the fast-paced world of cryptocurrency, Terra Luna Classic ($LUNC) has been making headlines, and for good reason. The recent burn of 5.57 billion $LUNC tokens by Binance in its 17th batch signals a significant step towards scarcity, creating a unique opportunity for investors. With the total $LUNC burned by the community surpassing 93 billion, the ecosystem is heating up, and investors should take notice. We will delve into the recent developments, the impact on $LUNC prices, and why now might be the perfect time for buyers to consider adding $LUNC to their portfolios. 1. Binance's Ongoing Commitment: Binance, the world's largest crypto exchange, has consistently demonstrated its commitment to the Terra Luna Classic community through the burn mechanism. The recent burn of 5.57 billion LUNC tokens not only reflects Binance's trust in the project but also contributes to the overall reduction of circulating supply, potentially driving up the value of LUNC in the long run. 2. Impressive Burn Metrics: The numbers speak for themselves – with over 49 billion $LUNC tokens burned to date by Binance, accounting for 53% of the total tokens burned by the community, the scarcity factor is increasingly becoming a pivotal element. The positive market response to each burn event, as evidenced by the 7% price surge in both $LUNC and USTC, indicates a strong demand for Terra Luna Classic tokens. 3. Ecosystem Expansion: The recent surge in $LUNC trading volume, coupled with the introduction of USTC perpetual contracts and new trading pairs on Binance and other exchanges, has significantly contributed to the ecosystem's growth. As the Terra Luna Classic community continues to expand, the demand for LUNC tokens is likely to follow suit, potentially driving prices higher. 4. Bullish Start to the Year: The bullish sentiment at the beginning of the year, fueled by the latest burn event and a broader market rally, positions $LUNC as an attractive investment option. The 8% price jump in the last 24 hours indicates a positive trajectory, and investors looking to capitalize on the momentum may find $LUNC to be a compelling choice. 5. Potential for Future Gains: As $LUNC currently trades at $0.000144, there is room for growth, especially considering the recent developments and ongoing burn mechanism. While the trading volume has seen a temporary decrease, this could be an opportunity for savvy investors to enter the market before a potential uptrend. Seizing opportunities at the right moment is crucial. The recent burn events, coupled with the broader market rally and ecosystem expansion, make Terra Luna Classic ($LUNC) an intriguing investment option. As always, potential investors should conduct thorough research and consider the inherent risks associated with cryptocurrency investments. However, the current scenario suggests that now might be an opportune time to explore the potential of $LUNC and consider adding it to a diversified investment portfolio.
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by DEXWireNews
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Terra Luna Classic ($LUNC) Community Rejects Key Burn ProposalTerra Luna Classic community rejected a proposal to burn 800 million USTC, with LUNC and USTC price falling over 10%. The Terra Luna Classic community rejected a proposal to burn 800 million TerraClassicUSD (USTC) as they look for better ways to burn these. The community believes there are easy ways to burn funds from the Risk Harbor (formerly Ozone Protocol) multisig wallet without an update and any legal consequences. The Terra Luna Classic community was recently notified that Risk Harbor lost the keys and has agreed to blacklist the wallet. LUNC price fell 13% in the past 24 hours, with the price currently trading at $0.000149. The 24-hour low and high are $0.000142 and $0.000168, respectively. However, trading volume has increased 20% in the last 24 hours.
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by DEXWireNews
Terra Classic Votes On 800 Million Burn For Another LUNC RallyThe Terra Luna Classic community votes on another proposal related to burning 800 million TerraClassicUSD (USTC). The proposal aims to burn funds from the Risk Harbor (formerly Ozone Protocol) multisig wallet through an update to Terrad client. It is similar to previous proposals on burning 800 million in the wallet, which was later blacklisted via a governance voting. Terra Luna Classic Community Eyes 800 Million USTC Burn Proposal 11913 “RH MultiSig Wallet – Burn 800m via Update to Terrad Client” is up for governance voting on the Station wallet. The new proposal aims to burn the 800 million USTC still in the Risk Harbor multisig wallet. The proposal deadline is December 19. The community passed proposal 11832 to blacklist the wallet citing that “blacklisting allows for a reversible action, enabling fund recovery through governance if valid reasons are provided by the wallet owners.” However, the new proposal argues that no fund recovery via the wallet owners is possible and blacklisting serves no purpose anymore. LUNC price is moving mostly sideways after a 22% fall in a week, with the price currently trading at $0.000175. The 24-hour low and high are $0.000170 and $0.000185, respectively. Moreover, trading volume has decreased by 57% in the last 24 hours.
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by DEXWireNews
LUNC/USDT Major trend. Downward wedge. Breakout.Logarithm. Time interval 3 days. Locally 1 day . Still, price is moving after the breakdown of the wedge (all the price drop in 10.5 months) in the area of the level 0.00008963. Percentages as before to key resistance levels, nothing has changed at the moment. Showed stop loss accumulation zones, this is very important to understand on such cryptocurrencies with high-risk and low liquidity. Perhaps there will be news for the chart soon. You should definitely get rid of such assets when pumping. Linear without "market noise" .
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by SpartaBTC
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Brief Analysis——LUNCTerra-FOMO has swept the crypto-market. Last week, Mint Cash, developed by a former Terraform Labs developer, released that may issue airdrop based on the hold or burn of specific tokens held in the original Terra ecosystem. Make Terra-related tokens, such as USTC, LUNC, etc. pump. Although Terraform Labs later stated that it would not participate in Mint Cash in any capacity. But FOMO has been ignited. After USTC rose last week, LUNC began to make up for its gains over the weekend. From the long-term candle charts on other exchanges, we can see that the current rise is insignificant compared to the decline caused by the death spiral. To better display indicators and candles, we used data from Binance. Although FOMO started in late November, it is interesting to note that on November 10, LUNC had a pump, accompanied by considerable trading volume. We mentioned this in LUNC, USTC Analysis & Market Overview. On-chain data shows that some whales have begun to buy LUNC or USTC before the price rises. If you are a LUNC trader, it is necessary to pay attention to the actions of these whales. Let's look at the indicators to see what happened to LUNC at the 4h level. As proof, we can see that the MBF indicator showed obvious bottom-buying sentiment near November 10. This is what we mentioned above. Whales had already started to buy LUNC before the Mint Cash event. From the WTA indicator, the first period of rise (the first green interval) is classic. The bullish trend does not end here. But in the second green interval, the blue bars representing whales disappear on the way up. The alarm sounds. However, LUNC did not fall after this time. Instead, it was supported by the green column and gray column. After the green arrow appeared, whales flowed into LUNC again, and there was a new round of pump. As long as a destructive candle does not appear, it will be difficult for the bullish trend of LUNC to end. The new round of rise is healthy so far. If you want to be more sensitive to whale behavior, you can check out our LUNC, USTC Analysis & Market Overview.
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by Sypool
LUNC : Riding the UST (HYPE) Wave! 🌊📈In the current crypto landscape, all eyes are on Terra Classic (LUNC), riding the waves of positive attention. Amidst the buzz, it's essential to navigate carefully, especially with its close ties to the crypto dollar, UST, striving to reclaim its 1-to-1 peg with the US dollar. Let's explore the dynamics of LUNC against the backdrop of these developments. Chart Analysis: Riding the UST Momentum LUNC is experiencing a remarkable surge, closely tied to the positive sentiments surrounding UST. This surge is not merely a reflection of technical indicators but is intricately woven into the narrative of the crypto dollar's revival. Key Observations: UST's Resurgence Impact: The surge in LUNC is notably synchronized with the efforts of UST to reestablish its 1-to-1 peg with the US dollar. Positive developments around UST create a favorable environment for LUNC. News-Driven Momentum: LUNC's recent price movements are significantly influenced by positive news and developments within the Terra ecosystem. News-driven momentum can create rapid and volatile market reactions. Critical Levels: Caution in News-Driven Markets Dependency on News Flows: LUNC's sensitivity to news events makes it crucial for traders to stay vigilant. Prices may experience sharp swings based on the unfolding narrative. Potential Scenarios: Navigating LUNC's Event-Driven Landscape Strategic Positioning: Traders should strategically position themselves, considering the potential impact of ongoing developments. Entry and exit points may be influenced by major news releases related to Terra and UST. Volatility Management: Due to the news-centric nature of LUNC's recent surge, managing volatility is paramount. Risk mitigation strategies become essential in navigating a market driven by external factors. Trading Strategy: Adapting to Dynamic News Flows For traders considering LUNC: News Calendar Awareness: Stay updated with the Terra ecosystem's news calendar to anticipate potential market-moving events. Technical Analysis Integration: Combine technical analysis with an understanding of news sentiment for a comprehensive trading strategy. Risk-Averse Approaches: Adopt risk-averse strategies, given the potential for rapid market shifts. Conclusion: Navigating the LUNC and UST Symbiosis LUNC's surge is emblematic of its symbiotic relationship with UST and the broader Terra ecosystem. While this presents trading opportunities, the close ties to news events demand a cautious approach. As the crypto community watches LUNC's ascent, traders are reminded to balance optimism with strategic risk management. 🚀 LUNC Analysis | 🌐 UST Peg Dynamics | 📰 News-Driven Market ❗See related ideas below❗ Share your insights on LUNC and UST, contributing to the collective intelligence of the crypto community. As LUNC continues its journey in the limelight, community-driven analyses enrich the understanding of its market dynamics. 💚🚀💚
by Yaroslav_Krasko
Binance Burns 4 Billion Terra Luna Classic (LUNC) TokensBinance burns almost 4 billion Terra Luna Classic (LUNC) tokens, with total LUNC burn by the community reaching 83 billion. The world’s largest crypto exchange Binance burns almost 4 billion Terra Luna Classic (LUNC) tokens in the 16th batch of the LUNC burn. With the latest LUNC burn, the total LUNC burn by the crypto exchange to date reaches more than 43 billion, 52% of the total tokens burned by the Terra Luna Classic community. Traders didn’t immediately respond to the Binance burn. Binance’s Net Terra Luna Classic (LUNC) Burn Reaches 43 Billion Crypto exchange Binance sent 3.90 billion Terra Luna Classic (LUNC) tokens to the burn address, as per the transaction on December 1. Binance continues contributing to the community’s LUNC burn campaign to reduce the LUNC circulating supply after the exit of Changpeng “CZ” Zhao as Binance CEO. Notably, the 16th batch of the LUNC burn mechanism is for the period October 31 to November 29. With the latest burn, Binance has burned over 43 billion Terra Classic tokens from trading fees on LUNC spot and margin trading pairs. The community has burned nearly 83 billion LUNC tokens. In November, Binance burned 760 million Terra Luna Classic (LUNC) tokens, the lowest till now. The burn rate significantly declined amid FUD, reduced developer activity, and a fall in LUNC trading volumes on the exchange. However, the massive jump in trading volumes this week resulted in this huge LUNC burn the community hasn’t seen in the last few months. Binance launched a USTC perpetual contract and new USTC trading pairs FDUSD and TRY, which contribute massively to the exchange’s trading volume. Terra Luna Classic ecosystem tokens fell in the last 24 hours, with LUNC and USTC giving up some recent gains due to profit booking in the broader crypto market. However, LUNC price jumped 65% this week, with the price currently trading at $0.000142. The 24-hour low and high are $0.000114 and $0.000121, respectively. However, the trading volume has decreased in the last 24 hours. Meanwhile, USTC price rallied 350% this week, with the price currently trading at $0.051. The 24-hour low and high are $0.050 and $0.055, respectively.
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by DEXWireNews
LUNC/USDT Bullish Trajectory in the Spotlight? 👀 🚀LUNC💎 Paradisers, turn your attention to LUNCUSDT as it showcases a compelling performance in the demand zone, signaling a strong likelihood of breaking through its resistance level for an upward trend. 💎 Reflecting on its past behavior, LUNCUSDT has a consistent record of surmounting its descending trendline, leading to bullish movements. Currently, after facing a rejection at the resistance level of .9673, the odds are tilting in favor of a resistance breach. This is further bolstered by its recent sweep of buying liquidity, reinforcing its position in the demand zone and the potential for continued upward momentum. 💎 However, should LUNCUSDT falter in maintaining this upward trajectory and descend below the demand level of .7806, a bullish strategy from the support level may come into play. A break below this threshold could pave the way for short-selling opportunities.
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by MyCryptoParadise
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