LUNC Price Skyrockets 90% After Terra Luna Classic Upgrade Proposal Passes


The Terra Luna Classic Community unanimously adopted a solution to the sequence mismatch problem that affected some validators, leading to the blocking of accounts from further interaction with the chain. This proposal was known as Sequence Mismatch Issue Resolution and the Validators and L1TF core developer decided to change it to an upgrade, as it is easier for operators and validators to make changes with the chain automatically halting.

Proposal 11890, titled “Upgrade to v2.3.2 (Sequence Mismatch Issue Resolution)” was successfully passed by the Terra Luna Classic Community, with full support. This required the deployment of Terrad Client v2.3.1 on-chain, with the chain halting at Block 15751600, estimated to be at 1:08 pm on December 8th.

The proposal received 100% support, with all 46 participants voting “Yes”. This included top validators Allnodes, Interstellar Lounge, Interstake OneStakeBin, JESUSisLORD, and others.

In the past month, the rally of Terra Luna Classic (LUNC) has reached 115%, and in one week 88%. This was triggered by the 400% jump in TerraClassicUSD (USTC), the Mint Cash news and Binance launching USTC perpetual contract, and new USTC trading pairs. The LUNC price has risen by 25% in the past 24 hours, currently trading at $0.000140. The 24-hour lows and highs are $0.000114 each and $0.000144 respectively, with trading volume increasing by 250%. Meanwhile, USTC price trades at $0.053, up more than 4% after a massive rally this week. The 24-hour lows and highs are $0.0448 and $0.0549 respectively. However, trading volume dropped 10% in the last 24 hour. The recent LUNC-USTC rally was in response to Binance’s 4 billion LUNC burn.

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