Rally

Terra Classic

Chair

Million

Terra

The Terra Luna Classic community has approved developer Genuine Labs’ spending proposal to pay for the work completed by the developer team in the last few weeks. The proposal received majority support from Terra Classic validators. 
<h2 id="terra-classic-community-approves-genuine-labs-proposal">Terra Classic Community Approves Genuine Labs Proposal</h2> 
Terra Luna Classic developer <a href="https://coingape.com/terra-classic-development-proposal-genuine-labs-officially-passed/" target="_blank" rel="noopener">Genuine Labs’</a> proposal 12019 surpassed the “pass threshold” as the community members and validators voted in favor of the proposal. The voting on the proposal ends on February 6. 
Over 84% of the votes cast were in favor of the proposal. As per current voting details, 40 validators have voted “Yes” and 9 voted “Abstain”. Top validators such as Orion, Interstellar Lounge, Jesusislord, Stakely, TerraCVita, and others voted in favor, agreeing with the successful completion of tasks. 
The developer group asked for $16,000 in funding in LUNC from the community pool for the tasks completed successfully. Validators have carefully evaluated their four-week work on implementing end-to-end tests, interchain tests, and addressing PacketForwardMiddleware (PFM) and IBC hooks issues. 
“Our focus has been on implementing end-to-end (E2E) tests, interchain tests, and addressing issues related to the PacketForwardMiddleware (PFM) and IBC hooks. We have maintained transparency throughout the works by providing biweekly reports on our progress,” said Genuine Labs. 
Read More: <a href="https://coingape.com/markets/terra-classic-lunc-price-0-00015-as-volume-surge-1000/" target="_blank" rel="noopener">Terra Classic (LUNC) Price Targets $0.00015 as Trading Volume Surges by 1000%</a> 
<h2 id="lunc-and-ustc-soar-higher">LUNC and USTC Soar Higher</h2> 
Terra Classic token LUNC saw massive shorts liquidated due to strong technical chart patterns. The token recorded immense trading volumes after descending channel breakout to the upside. 
Both LUNC and 1000LUNC shorts were liquidated, indicating bullish sentiment among investors. However, a retest above the channel is expected by analysts before it starts to rise again. 
<img decoding="async" class="aligncenter wp-image-178663" src="https://coingape.com/wp-content/uploads/2024/02/screenshot-www.coinglass.com-2024.02.05-20_31_38.png" alt="LUNC" width="796" height="210" srcset="https://coingape.com/wp-content/uploads/2024/02/screenshot-www.coinglass.com-2024.02.05-20_31_38.png 1828w, https://coingape.com/wp-content/uploads/2024/02/screenshot-www.coinglass.com-2024.02.05-20_31_38-300x79.png 300w, https://coingape.com/wp-content/uploads/2024/02/screenshot-www.coinglass.com-2024.02.05-20_31_38-1224x323.png 1224w, https://coingape.com/wp-content/uploads/2024/02/screenshot-www.coinglass.com-2024.02.05-20_31_38-768x203.png 768w, https://coingape.com/wp-content/uploads/2024/02/screenshot-www.coinglass.com-2024.02.05-20_31_38-1536x405.png 1536w, https://coingape.com/wp-content/uploads/2024/02/screenshot-www.coinglass.com-2024.02.05-20_31_38-150x40.png 150w" sizes="(max-width: 796px) 100vw, 796px"> 
<a href="https://coingape.com/price/terra-luna-classic/" target="_blank" rel="noopener">LUNC price</a> rallied 20% in the last few days, with the price currently trading at $0.0001091. The 24-hour high and low are $0.0001031 and $0.0001153, respectively. The community remains bullish after enormous jump in trading volumes. 
Meanwhile,&nbsp;<a href="https://coingape.com/price/terraclassicusd" target="_blank" rel="noopener">USTC price</a> moving range-bound in a week. The price is currently trading at $0.02556 and trading volume has faded in USTC charts. The 24-hour low and high of $0.0248 and $0.0265, respectively. 
Also Read: 
<ul> 
 <li><a title="Ripple Vs SEC: Can Ex-SEC Chair Jay Clayton Talk About XRP Lawsuit Now?" href="https://coingape.com/ripple-vs-sec-can-ex-sec-chair-jay-clayton-talk-about-xrp-lawsuit-now/" target="_blank" rel="bookmark noopener">Ripple Vs SEC: Can Ex-SEC Chair Jay Clayton Talk About XRP Lawsuit Now?</a></li> 
 <li><a title="Crypto &amp; Bitcoin’s Big Week: Must-Know Events This Week, Powell’s Rate Cut Caution" href="https://coingape.com/key-events-impact-crypto-bitcoin-this-week-powell-wary-rate-cuts/" target="_blank" rel="bookmark noopener">Crypto &amp; Bitcoin’s Big Week: Must-Know Events This Week, Powell’s Rate Cut Caution</a></li> 
 <li><a href="https://coingape.com/bitcoin-solana-saw-716-million-inflow-btc-rally-imminent/" target="_blank" rel="noopener">Bitcoin &amp; Solana Saw $716 Million Inflow, BTC Rally Imminent?</a></li> 
</ul> 
The post <a href="https://coingape.com/terra-classic-endorses-genuine-labs-proposal-why-lunc-price-soared-20/">Terra Classic Endorses Genuine Labs Proposal, Why LUNC Price Soared 20%?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Terra Classic Endorses Genuine Labs Proposal, Why LUNC Price Soared 20%?

목차

Coingape News Media

2024년 2월 5일에 게재된 다른 기사

Lawmakers call for action against crypto's role in illicit fentanyl trade

Bitcoin Price Will Skyrocket To $280,000 Next Year: Hedge Fund Manager

Crypto Billionaire Tips Kelexo (KLXO) Presale as next best thing as Deters from Toncoin (TON) & S...

Bitcoin Price Prediction: Top Trader Foresees BTC Halving Plunge To $30K Before New ATH In 4Q, Bu...

DOGE Price Braces for 26% Explosive Leap Past $0.10 This Week!

Tether Leads Crypto Mobile App Oobit’s $25 Million Series A Funding

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!