Terra Classic

While a large part of the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency market</a> is struggling with declines or trading sideways at best, Terra Classic (<a href="https://finbold.com/cryptocurrency/terra-luna-classic/" rel="noopener noreferrer nofollow">LUNC</a>) has been recording increases, corresponding with the rising anticipation of a major upgrade that would allow <a href="https://finbold.com/category/technology-news/" rel="noopener noreferrer nofollow">technological</a> parity with LUNA 2.0.Indeed, the <a href="https://finbold.com/topic/terra-classic/" rel="noopener noreferrer nofollow">Terra Classic</a> core developer group ‘L1 Joint Task Force’ had earlier <a href="https://twitter.com/frag_dude/status/1654141158648340507" rel="noopener noreferrer nofollow">upgraded</a> its rebel-2 testnet to version 2.0.0 with Cosmos SDK v0.45, with an aim to enhance functionality and support the transition of the Terra Classic mainnet upgrade, as <a href="https://twitter.com/frag_dude/status/1654141158648340507" rel="noopener noreferrer nofollow">shared</a> by the team’s part-time developer on May 4.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/318706e8e68c43f1b28c0fc14e51ea81.PNG" /><h2 id="header-0">Mainnet upgrade timeline</h2>Shortly after this announcement, the <a href="https://finbold.com/guide/blockchain-developer/" rel="noopener noreferrer nofollow">blockchain developer</a> team’s project manager, known as LuncBurnArmy, submitted a <a href="https://classic-agora.terra.money/t/proposal-to-upgrade-to-v2-0-0/51697" rel="noopener noreferrer nofollow">proposal</a> for the Terra Classic core mainnet upgrade to version 2.0.0 after successful L2 compatibility testing, as shared in a <a href="https://twitter.com/luncburnarmy/status/1654326918856990720" rel="noopener noreferrer nofollow">tweet</a> published on May 5.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/41e2fb08e78249c88f67ce80fed21015.PNG" />According to the proposal, the upgrade is set to go live on May 17, when the team will also introduce the Cosmos SDK v0.45.13 and Tendermint v34.24 upgrades, which was welcomed by the LUNC community as the v2.0 would allow building decentralized applications (dApps) on the LUNC <a href="https://finbold.com/topic/blockchain/" rel="noopener noreferrer nofollow">blockchain</a>, in line with the <a href="https://medium.com/&#64;luncburnarmy/l1-task-force-q2-sprint-2-300254f4864c" rel="noopener noreferrer nofollow">roadmap</a>.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/3249b2ca774b4e968a91d2de2365cb05.png" />L1 Joint Task Force roadmap. Source: <a href="https://medium.com/&#64;luncburnarmy/l1-task-force-q2-sprint-2-300254f4864c" rel="noopener noreferrer nofollow">LuncBurnArmy</a>Additionally, as the group said in the roadmap, the company had completed the hiring process for the new Senior Cosmos Developer, whose “primary focus will be bringing the blockchain to parity through the Cosmwasm upgrade, (…) as well as advising on the ideal Cosmos SDK upgrade roadmap and release planning schedule for future upgrades.”<h2 id="header-1">LUNC price analysis</h2>Meanwhile, the price of Terra Classic at press time stood at $0.00009014, correcting after a brief but massive gain that saw the digital asset reach $0.00009704 – a 15% increase from 24 hours earlier, showing signs of possible retaking of the psychologically important $0.0001 level.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/2594b825ebe84315acc2290378684742.png" />LUNC 24-hour price chart. Source: <a href="https://finbold.com/cryptocurrency/terra-luna-classic/" rel="noopener noreferrer nofollow">Finbold</a>Notably, Terra Classic’s current price shows an increase of 7.68% on the day as it tries to reverse the losses of 15.09% across the previous week and 27.46% in the last 30 days, as per the recent data accessed by Finbold on May 10.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>

Terra Classic price skyrockets ahead of LUNA 2.0 upgrade

Table of Contents

Finbold

Other articles published on May 11, 2023

SEC Targets BTC Miner; Alleges Securities Violation

PEPE’s Market Cap Down $1 Billion Since Binance Listing

Elon Musk's Tweet: Supporting Content Creators with Cryptocurrencies

Litecoin price analysis: Trend Reversal Sends Litecoin Value Down to $80

Digital Privacy for All, Built on First Principles

Musk’s tweet boosts Miladys NFT collection

Join our free newsletter for daily crypto updates!