Terra Luna Classic Moves Closer to Tax2Gas, LUNC Price Jumps 6%

The Terra Luna Classic community votes on another security upgrade proposal. This upgrade includes a security patch to wasmvm and an improvement on the gas simulation of taxable transactions. LUNC price has jumped more than 6% over the last day and more than 15% in a month.

Terra Luna Classic Community Votes on v3.1.6 Upgrade

Terra Luna Classic developer StrathCole submitted proposal 12139 “Upgrade to v3.1.6” for governance voting on the Station wallet. A new Terrad client was released on September 26, as per GitHub repository.

The upgrade will apply an upstream wasmvm security patch, updating wasmvm to 1.5.5. This also includes an improvement on gas simulation of taxable transactions which was only released to endpoint providers as it did not contain consensus-relevant changes (v3.1.5-sim.2). Moreover, it adds support for much-awaited upcoming Tax2Gas implementation.

Currently, the latest proposal has received unanimous support from the community. It has received 100% “Yes” votes from validators and delegators. If approved by the community, the chain will be halted at block height 20085000, which is expected at 1:30 PM UTC on October 4, as per StakeBin countdown.

Recently, Terraform Labs (TFL) and CEO Chris Amani confirmed receiving an order from the bankruptcy court to wind down operations after the SEC settlement. They also plan regarding the shutdown of operations and its products and services in case negotiations with 3rd parties fail.

LUNC Price, USTC In Upside Momentum

Terra Luna Classic ecosystem tokens LUNC and USTC are building upside momentum, targeting to break up above respective resistance levels. The community is optimistic with Binance LUNC burn approaching and Changpeng “CZ” Zhao release today.

LUNC price jumped over 6% in the last 24 hours and 10% in a week, with the price currently trading at $0.00009369. The 24-hour high and low are $0.00008818 and $0.00009459, respectively. Trading volume saw an increase of 50% in the past 24 hours.

Meanwhile, USTC price rose by more than 5%, with the price now trading at $0.0193. Moreover, the trading volume has increased by 55% in the last 24 hours. USTC futures OI rose 7% in the past 4 hours.

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Varinder Singh

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.

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