Massive LUNC, LUNA Volumes Ahead Terra Classic Core Upgrade

The Terra Luna Classic community votes on a proposal for the v2.2.1 core upgrade by developer L1 Task Force to bring significant changes to the blockchain. Terra ecosystem tokens LUNC, LUNA, and USTC recording massive trading volumes amid the passing of key proposals and the v2.2.1 core upgrade is up for governance voting.

Terra Luna Classic v2.2.1 Core Upgrade Proposal

L1 Terra Classic Task Force (L1TF) developer Vinh Nguyen took to X to announce that the v2.2.1 core upgrade is up for voting. If passed, the L1TF developer team will upgrade the chain at block height 14,514,000, estimated at 14:15 UTC on September 12.

L1TF earlier reported that the team successfully completed the testnet upgrade and all reported issues are now fixed. Several validators joined the rebel-2 testnet prior to scheduling the mainnet upgrade. Also, all nodes and validators should update with the latest release after approval of the proposal by the Terra Luna Classic community.

The initial voting shows that the community supports the proposal, with 99.65% “Yes” votes. However, some oppose the proposal as the last upgrade impacted dApps and projects on the network such as Astroport.

All validators support the proposal, with JESUSisLORD, StakeBin, Lunanauts, and Hexxagon among the top validators that voted “Yes.”

The upgrade introduces several key features including cosmos SDK upgrade, tendermint migration to CometBFT, IBC-go to v6, and wasmd. The upgrade also implements key changes earlier passed through governance voting including splitting the burn tax to the distribution module.

Read More: Terra Luna Classic Crucial Proposal For Dynamic Minimum Commission Is Passed

LUNC and LUNA Record Huge Trading Volumes

Terra ecosystem tokens have recorded massive trading volumes in the last 24 hours. LUNC and LUNA saw volumes jumping by 300% and 1900%, respectively. The prices are also showing upside momentum.

LUNC price jumped 2% in the past 24 hours, with the price currently trading at $0.000060. The 24-hour low and high are $0.0000591 and $0.0000635, respectively.

Meanwhile, LUNA price trades at $0.41, up nearly 6% in the past 24 hours. The 24-hour low and high are $0.391 and $0.474, respectively.

Also Read:

✓ Share:

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.