Terra Luna Classic Price Will Save Big Rally! / Lunc Coin Last Minute / Crypto Analysis
1 year ago
Terra Classic
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Terra classik price will witness a big rally in December. The community is already preparing for the upcoming changes and price increases, with developers, validators, and projects submitting various offers. LUNC price dropped to $0.00015 following the collapse of crypto exchange efteiks. Still, the price is now showing signs of recovery as LUNC staked and burned LUNC grows rapidly.
Terra Rebels introduced the v23 upgrade after successfully deploying the Terra Classik v22 upgrade that enabled governance changes, staking and burning. The upgrade aims to re-enable cross-blockchain communication between the kosmos blockchain and the Terra Classik ecosystem. iBc channels were closed during UST depeg to avoid loss of funds.
Terra Rebels core developer Edward Kim stated that community members can expect a significant increase in the number of projects built on the network after the v23 upgrade, which includes the kosmWasm upgrade. In fact, Edward Kim's Proposal 10950 to reactivate the three ibC channels for the cosmos-based chains Osmosis, krescent and Juno reached the "pass threshold" with 100% support within 9 hours of release.
The developers will reopen their iBC channels at the estimated block number 10,542,500 on December 5. Thus, while most entities are trapped in the Osmosis, trapped entities will be allowed to flow through the channels. However, it will not be available until the v23 network upgrade becomes available.
Additionally, Edward Kim, program director of the Terra Grants Foundation, presented the first initiative with Proposal 10946. Terra Classike aims to dedicate 750 million LUNC tokens for developers, projects, validators, and community members to contribute. Revival from May to October.
Upgrades at the validator and network levels will help bring the utility back and increase the price of the LUNC. Meanwhile, the community expects Binance to burn at least 20-25 billion LUNC tokens on Dec. Binans has burned 13.712 billion LUNC tokens so far.
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