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<p>The post <a href="https://coinpedia.org/news/terra-classic-lunc-price-rally-with-1m-lunc-deposit/">Terra Classic (LUNC) Price Surges 2% on Governance Upgrade, Eyes Breakout</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Excitement is brewing in the <a href="https://coinpedia.org/price-prediction/terra-classic-lunc-price-prediction/">Terra Classic</a> community with a notable 2% surge in its token value. This surge comes on the heels of the approval of Proposal 12071, making waves in the past 24 hours as LUNC climbed 2% to $0.000121, and USTC jumped over 2% to $0.03. </p> 
<p>The proposal introduces a 1 million LUNC initial deposit for new proposals, aiming to enhance Terra Luna Classic governance.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/LUNC?src=hash&amp;ref_src=twsrc%5Etfw">#LUNC</a> Proposal 12071<br>Set the Minimum Initial Deposit to 1M LUNC<br><br>Luna Classic Labs votes – YES<br><br>Comment:<br>"Deposit" is a place in the Governance system that is full of spam. For that reason, I don't go there at all and I don't pay any attention to proposals in the deposit phase. I… <a href="https://t.co/Z0ALyLPgpa">pic.twitter.com/Z0ALyLPgpa</a></p>— 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9e0.png" alt="🧠" class="wp-smiley" style="height: 1em; max-height: 1em;"> LunaClassicLabs.com – 0% Fee LUNC Validator (@LunaClassicLabs) <a href="https://twitter.com/LunaClassicLabs/status/1760233586865631571?ref_src=twsrc%5Etfw">February 21, 2024</a>
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<h2 class="wp-block-heading" id="h-the-1-million-lunc-initiative"><strong>The 1 Million LUNC Initiative</strong></h2> 
<p>To improve governance dynamics, Proposal 12071 suggests a 1 million LUNC initial deposit for new proposals. This strategic move targets spam reduction and better decision-making by enhancing proposal quality. The overwhelming 89% community vote in favor of the proposal reflects a mature ecosystem valuing substance in governance conversations. </p> 
<p>Additionally, Proposal 12071 aligns with recent project upgrades, including staking mechanisms and token burn programs, showcasing a proactive approach to strengthening the Terra Luna Classic network.</p> 
<p>Also Read: <a href="https://coinpedia.org/price-analysis/terra-classic-and-terra-luna-price-prediction-is-this-a-comeback-year-for-terra/">Terra Classic and Terra Luna Price Prediction: Is This A Comeback Year For Terra?</a></p> 
<h2 class="wp-block-heading" id="h-lunc-on-the-move">LUNC On the Move!</h2> 
<p>Technically, Terra Classic’s price has shown resilience, finding support at $0.000118 with backing from the 200-day <a href="https://coinpedia.org/traders/exponential-moving-average-ema/">Exponential Moving Average (EMA)</a>. While facing resistance at $0.0001236, marked by the convergence of the 20-day EMA and the 50-day EMA, the overall trajectory remains positive. Sustaining above the green support band is crucial for maintaining upward momentum, with potential resistance expected at $0.00014.</p> 
<p><strong>Promising Outlook </strong></p> 
<p>Looking forward, Terra Classic’s outlook is optimistic. Developers and the community are actively working on initiatives to improve network efficiency and functionality. The recent Binance LUNC burn and ongoing efforts to refine tokenomics express confidence in the project’s growth. Analysts predict continued consolidation in Terra Classic’s price, with the potential for a breakout to <a href="https://coinpedia.org/price-analysis/lunc-price-jumps-as-trading-volume-surges-will-terra-classic-hit-0-0002-soon/">$0.0002</a> as the network solidifies its position, attracting increased investment interest.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/do-kwon-to-be-extradited-to-u-s-over-terrausd-collapse-montenegro-court-rules/">Kwon Headed to USA? Montenegro Court Rules for Extradition in Terra Fraud Case</a></p> 
<h2 class="wp-block-heading" id="h-lunc-market-update-short-liquidations-spike"><strong>LUNC Market Update: Short Liquidations Spike</strong></h2> 
<p>In current market dynamics, short liquidations in the LUNC market have spiked, reflecting increased trading activity and a prevailing bullish sentiment. Investors anticipate a strong recovery post recent market corrections. LUNC staking has surged above 1 trillion, a significant rise from the dip in December and January when it dropped to nearly 950 billion. </p> 
<p>Presently, the staked supply stands at over 1.027 trillion LUNC, steadily increasing throughout the week, with the staking ratio reaching an impressive 15.09%.</p> 
<p>In the bigger picture, LUNC staking plays a pivotal role for validators and the project. Users can lock their assets with a validator to earn rewards, ensuring a secure and efficient network while actively involving the community in the project’s growth.</p> 
<p><strong>The message is simple: start saving those coins now as Terra Luna Classic continues to evolve, promising exciting developments ahead.</strong></p>

Terra Classic (LUNC) Price Surges 2% on Governance Upgrade, Eyes Breakout

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