Why is Terra Luna Classic Rising? / Lunc Coin Price Rise / Crypto News Today
1 year ago
Terra Classic
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LUNC, the 38th largest cryptocurrency by market capitalization, has increased by 9.8 percent in the last 24 hours. The coin rose from $0.00022614 to $0.0002748. Activation of the IBC protocol was pointed out as a possible development behind the ascent. It is important to note that the IBC protocol facilitates communication and transfer of value between individual Cosmos chains. When the Terra ecosystem collapsed in May, the Terra Classic network, originally a Cosmos chain, permanently halted the channels to prevent temporary loss.
Luna news.
The network is now trying to recover from the collapse process. Therefore, to reactivate the IBC; It has become vital to access standing liquidity and increase the utility of the chain. Terra Rebels, a separate group of volunteers working on the Terra Classic chain, contacted Gadikian for this purpose, as announced by core developer Edward Kim in September.
Will Lunc coin rise?
Gadikian said he would help them with things like re-enabling IBC after deactivation. He offered to clean the chain as well. According to Venus, a Terra Rebel and core team project manager, projects in the Cosmos chains can use LUNC.
Terra luna classic.
Projects can choose to use Terra Luna Classic (LUNC) as a payment option to attract Terra Classic's vibrant community when IBC opens. As a result, LUNC's utility and on-chain throughput should grow.
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