Terra Luna Classic v2.3.2 Upgrade Proposal Officially Passed, LUNC Price Shoots 25%

The Terra Luna Classic community unanimously passed a proposal to resolve the sequence mismatch issue affecting some validators. This sequence mismatch problem led to some accounts being barred from further interaction with the chain.

The community has already approved a proposal for Sequence Mismatch Issue Resolution, but validators and core developer L1TF decided to change it to an upgrade proposal. It makes it easier for validators and node operators to implement changes as the chain halts automatically.

Terra Luna Classic Passes v2.3.2 Upgrade Proposal

Proposal 11890 “Upgrade to v2.3.2 (Sequence Mismatch Issue Resolution)” is passed successfully by the Terra Luna Classic community, with complete support. The proposal needed community approval for the on-chain deployment of terrad client v2.3.1.

CoinGape reported that the binary is changed to version v2.3.2 (v6_1) due to the requirements of an upgrade proposal. The chain will halt at block 15751600, estimated at 1:18 pm on December 8, as per the countdown data.

The proposal has received full support from the community, with 100% “Yes” votes. In fact, this became the first proposal in several months to receive 100% votes in favor.

Among 46 validators who participated, all have voted “Yes”. This includes top validators including Allnodes, Interstellar Lounge, Interstake One, StakeBin, JESUSisLORD, and others.

Read More: Will $LUNC Recovery Continue In December to Hit $0.0002?

LUNC Price Rally 25%

Terra Luna Classic extended its rally to more than 115% in a month and 88% in a week. The rally was triggered by TerraClassicUSD (USTC), which jumped 400% in a month. The Mint Cash news and Binance launching USTC perpetual contract, and new USTC trading pairs triggered the recent surge in prices.

LUNC price jumped 25% in the last 24 hours, with the price currently trading at $0.000140. The 24-hour low and high are $0.000114 and $0.000144, respectively. Furthermore, the trading volume has increased by 250% in the last 24 hours, indicating a rise in interest among traders.

Meanwhile, USTC price trades at $0.053, up more than 4% after a massive rally this week. The 24-hour low and high are $0.0448 and $0.0549, respectively. However, the trading volume fell 10% in the past 24 hours.

The recent LUNC and USTC rally came in response to Binance’s 4 billion LUNC burn.

Also Read: Coinbase Announces Polygon (MATIC) And Bitcoin Cash (BCH) Perpetuals

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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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