- Proposal 12148 for LUNC’s v3.3.0 upgrade aims to streamline tax handling and boost security, enhancing the ecosystem.
- LUNC’s symmetrical triangle breakout, boosted by Binance’s token burn, draws parallels to XRP’s recent surge, with $0.0005 as a potential target.
Following the recent update on XRP’s 7-Year Breakout shared in a CNF post, which suggested XRP is poised for a major price breakout after a lengthy consolidation period, this article examines the Terra Luna Classic (LUNC) community’s efforts to streamline tax handling and enhance security. These initiatives aim to create a more developer-friendly environment for dApps from the Cosmos ecosystem.
LUNC is currently voting on Proposal 12148, which seeks to upgrade the blockchain to version 3.3.0. Led by developer StrathCole, the proposal has unanimous support from all 39 participating validators, including major players like JESUSisLORD and TerraCVita. If approved, the upgrade will take effect on December 17, temporarily halting the chain to implement changes.
Bullish Momentum Spreads Across the Terra Ecosystem
Beyond LUNC, the broader Terra ecosystem has witnessed bullish momentum. USTC has climbed 20% in a week, while Terra (LUNA) surged 52%, reaching $0.79. Binance’s decision to increase leverage on LUNA trades further fueled its rally.
With the community rallying behind these developments, the proposed upgrades and favorable market conditions could play a pivotal role in LUNC’s journey toward reclaiming higher price levels.
Terra Luna Classic Price Chart Echoes XRP’s Rally
LUNC’s price action has drawn comparisons to XRP’s recent breakout. Following the formation of a symmetrical triangle pattern, LUNC surged over 40% this week, trading at $0.00017 and marking a monthly gain of more than 90%. At the time of writing, the price stands at $0.0001613, reflecting a 0.83% daily increase and a 34.01% weekly gain.
Analysts speculate that a weekly close above $0.00018 could push the price toward $0.0005. However, sustaining this momentum—similar to XRP’s rally past $1—will require significant trading volumes. Binance’s burn of 1.7 billion LUNC tokens also contributed to the recent price spike.
