The Terra Luna Classic (LUNC) community has introduced a key proposal that has sparked renewed optimism among traders. With recent ecosystem upgrades and positive sentiment, LUNC is on the verge of a potential rally toward $0.0003.
Terra Luna Classic Proposal Fuels Market Optimism
The Terra Luna Classic community has revealed a crucial proposal aimed at fixing a previous upgrade error. This has led to growing excitement among LUNC holders. The proposal seeks to correct a mistake made during a prior upgrade, which could have a significant impact on the future of the Terra ecosystem.
Dubbed Proposal 12133, the goal is to restore the maximum number of validators on the network to 110. A recent SDK update mistakenly reduced this number, which impacted network stability. With 63.81% of votes already supporting the proposal, the community is rallying around this vital correction. Voting is expected to conclude within two days.
Key Ecosystem Upgrades Boost LUNC Sentiment
In addition to Proposal 12133, other important ecosystem developments, such as the Tax2Gas upgrade, have also contributed to the community’s positive outlook. These upgrades, designed to enhance security and network efficiency, have caught the attention of traders and investors. As a result, expectations for a potential LUNC rally have intensified, with market watchers eyeing a price target of $0.0003.
LUNC Price Set for a Potential Rally?
While LUNC’s price experienced a slight increase of 1% today, trading at $0.00008175, the previous week’s 17% rally has set the stage for a potential breakout. However, trading volume has dropped by 38% over the last 24 hours to $11.36 million.
If LUNC can surpass key resistance levels, the price may rise to $0.0003. Optimism surrounding Terraform Labs’ Chapter 11 bankruptcy upgrade has also fueled speculation about an upcoming rally, contributing to the heightened market interest.
LUNA Price and Market Movements
While LUNC gains attention, LUNA has also experienced some price movement. LUNA’s price rose by over 2%, trading at $0.3819 at the time of writing. It hit a 24-hour high of $0.3832, with its trading volume dropping 32% to $27.66 million.
