Cardano

Solana

Terra Classic

Terra

<div class="finbold">
 <p class="paragraph">With the larger part of the cryptocurrency market enjoying a significant price recovery, things are going great for Terra Classic (LUNC) as well, as it has soared 15% in a single week on the news of its community approving a critical <a rel="noopener noreferrer nofollow" title="proposal" href="https://thebittimes.com/tag/proposal.html">proposal</a> for the further development of its network.</p>
 <p class="paragraph">Indeed, the community has voted in favor of the <a rel="noopener noreferrer nofollow" title="proposal" href="https://thebittimes.com/tag/proposal.html">proposal</a> of a mandatory know-your-customer (KYC) for all L1 developers as an additional security measure amid a push to increase development on its blockchain by welcoming third-party developers, as per the information shared on February 8.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">BREAKING: $LUNC <a rel="noopener noreferrer nofollow" title="proposal" href="https://thebittimes.com/tag/proposal.html">proposal</a> #12033 requiring L1 developers to KYC to a third party provider in order to submit code on the #LunaClassic blockchain has officially PASSED. Thank you to all who voted, time to rebuild #LUNC. ️ #Crypto #LUNCcommunity pic.twitter.com/hvA9CaThF7</p>— Mr. Diamondhandz1 (@MrDiamondhandz1) February 8, 2024
   </blockquote>
  </div>
 </figure>
 <h2 class="wp-block-heading" id="h-terra-classic-price-analysis">Terra Classic price analysis</h2>
 <p class="paragraph">Not long after the successful vote, the price of LUNC surged above the critical psychological price threshold at $0.0001 and has not dropped below it since, recording an increase of 15.72% over the last seven days, as it is currently changing hands at the price of $0.00011.</p>
 <p class="paragraph">At the same time, its movements on other charts add a layer of complexity, considering that its current price suggests a decline of 0.97% in the past 24 hours, as well as a decline of 8.38% over the past month, according to the most recent data retrieved on February 9.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2024/02/09/e8fc7a08b8adfa495b1908c7a0c2329c.webp" alt class="wp-image-154077" srcset="https://cdn.thebittimes.com/images/2024/02/09/e8fc7a08b8adfa495b1908c7a0c2329c.webp 1024w, https://cdn.thebittimes.com/images/2024/02/09/e8fc7a08b8adfa495b1908c7a0c2329c.webp 300w, https://cdn.thebittimes.com/images/2024/02/09/e8fc7a08b8adfa495b1908c7a0c2329c.webp 768w, https://cdn.thebittimes.com/images/2024/02/09/e8fc7a08b8adfa495b1908c7a0c2329c.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Terra Classic 7-day price chart. Source: </em><em>Finbold</em>
  </figcaption>
 </figure>
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 <p class="paragraph">Interestingly, out of the last 30 days, half were positive for LUNC, which means it had a perfectly balanced green streak alongside a neutral market position demonstrated with a relative strength index (RSI) at 50.57. Furthermore, it is currently hovering above the support at $0.0001 and a resistance at $0.00012.</p>
 <p class="paragraph">Meanwhile, the market sentiment gauges by the indicators over at the crypto and finance analytics platform <em>TradingView</em> are leaning towards a ‘buy’ recommendation based on oscillators in the ‘neutral’ zone and moving averages (MA) pointing at a ‘buy,’ illustrating the optimism behind the apparent indecision.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="287" src="https://cdn.thebittimes.com/images/2024/02/09/16d3560944277fda061e02f7111c4fdd.webp" alt class="wp-image-154076" srcset="https://cdn.thebittimes.com/images/2024/02/09/16d3560944277fda061e02f7111c4fdd.webp 1024w, https://cdn.thebittimes.com/images/2024/02/09/16d3560944277fda061e02f7111c4fdd.webp 300w, https://cdn.thebittimes.com/images/2024/02/09/16d3560944277fda061e02f7111c4fdd.webp 768w, https://cdn.thebittimes.com/images/2024/02/09/16d3560944277fda061e02f7111c4fdd.webp 1536w, https://cdn.thebittimes.com/images/2024/02/09/16d3560944277fda061e02f7111c4fdd.webp 1770w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Terra Classic 1-day sentiment gauges. Source: </em><em>TradingView</em>
  </figcaption>
 </figure>
 <p class="paragraph">All things considered, the recent price action, which has also helped its market value surge by over $90 million in the last week alone, represents a massive success for the crypto asset that has been at the center of the scandal involving the Terra (LUNA) ecosystem and its founder and former CEO Do Kwon.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/terra-classic-to-the-moon-lunc-shoots-15-in-a-week-on-major-proposal-approval-tbt79378.html">https://thebittimes.com/terra-classic-to-the-moon-lunc-shoots-15-in-a-week-on-major-proposal-approval-tbt79378.html</a></p>

Terra Classic to the moon? LUNC shoots 15% in a week on major proposal approval

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