The Terra Luna Classic community is gearing up for the big upgrade. He is also waiting for developments in the burning mechanism of the giant cryptocurrency exchange Binance. According to analysts, it is possible that these developments will catalyze the rally of LUNC and USTC, the tokens of the altcoin project.
Altcoin project is ready for major upgrade!
The Terra Luna Classic community has already approved the ‘Sequence Mismatch Issue Resolution’ proposal. However, validators and core developer L1TF decided to turn this into an upgrade offer. In this way, the upgrade process has become easier for validators and node operators as the Blockchain automatically stops. In particular, the binary version was changed to v2.3.2 (v6_1) due to the requirements of an upgrade offer. The blockchain will stop at an estimated block of 15751600 on December 8 at 1:18 p.m.
As you follow from Kriptokoin.com, the altcoin community has approved v2.3.0 to introduce the dyncomm module. It also integrated protocol logic to determine minimum validator commissions based on voting power. However, L1TF leader Vinh Nguyen reported that there is a critical issue with queue mismatch affecting some validators during commission edits. He noted that this sequence mismatch issue caused some accounts to be blocked from further interaction with the Blockchain. The proposal received a 100% “Yes” vote from the Terra Luna Classic community. Of the 28 validators currently voting, all voted “Yes.” These include top validators such as Interstellar Lounge, Luna Station 88, StakeBin, JESUSisLORD and others.
Will the LUNC and USTC rally continue?
LUNC and USTC, the altcoin project’s tokens, are up 85% and 350% this month. Additionally, both tokens made most of their gains last week. Traders expect some profit booking at the end of the month due to low trading volumes and expiry. News of Mint Cash and Binance’s launch of the USTC perpetual contract and new USTC trading pairs triggered the recent rise in prices.
LUNC price is down 3% in the last few hours, paring its previous gains. The altcoin is trading at $0.000114 at the time of writing. The 24-hour low and high price are $0.0001126 and $0.0001269 respectively. Additionally, trading volume has decreased by 50% in the last 24 hours. This shows that the interest among traders has decreased. Meanwhile, USTC price is trading at $0.051, down 4% after a 300% rally this week. The 24-hour low and high are $0.0496 and $0.0574 respectively. The Binance burn mechanism is likely to push prices higher due to the large trading volumes witnessed this week.
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