NewsletterHas The Terra Classic (LUNC) Revival Rally To $0.001 Started?
After massive FUD due to Terraform Labs ending support for Terra Station risked the survival of Terra Classic (LUNC), the community has finally found a life. Terra Classic blockchain tokens LUNC and USTC have rallied over 6% and 20% in the last 24 hours, respectively.
Terra Classic (LUNC) Begins Relief Rally
Terraform Labs is transitioning from “Terra Station” to a new “Station” wallet as part of a cross-chain collaboration between Terra and Feather/Alliance chains to further improve decentralization. TFL asked the developer group Terra Rebels to make several L1 changes on the Terra Classic chain to become compatible with the new Station supporting Cosmos chains.
However, Terra Rebels submitted a community pool spend proposal to make the community move to Rebel Station instead, which caused panic in the community. Terra Rebels has already shared the LUNC community’s aim to separate from the TFL and Do Kwon in the Terra Classic Revival Roadmap.
Finally, Terra Rebels announced ending support for Terra Station to focus on Rebel Station, making developer group TerraCVita handle support for Terra Station from now onwards. Both Terra Station and Rebel Station are now working normally after network outages caused by the 1.0.4 upgrade due to TFL failing to update the LCD. The 1.0.4 upgrade prepares validators and crypto exchanges as developers re-open IBC channels.
Former FTX CEO Sam Bankman-Fried facing a market manipulation inquiry on whether FTX and Alameda caused the Terra-LUNA crisis has led to a recovery in all Terra tokens. Terra’s co-founder Do Kwon believes SBF and Genesis are behind the collapse of the UST depeg in May.
Terra Classic (LUNC) price soars over 6% in the last 24 hours, with the current price trading at $0.00017. The 24-hour low and high are $0.0001628 and $0.0001737. Also, TerraClassicUSD (USTC) price rallied over 20% amid the ongoing investigation into SBF’s role in the Terra-LUNA crisis.
Moreover, Terra (LUNA) price jumped over 5% in the last 24 hours, with the current price trading at $1.64.
Also Read: Subpoena SBF To Testify Before US Congress, Demands Crypto Twitter
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Firelight Confirms November Mainnet as Flare TVL Rises and Xaman Introduces Smart Accounts
- Cardano News: Wirex Partners EMURGO To Launch First Ever ADA Card
- Hyperliquid Rival Lighter Raises $68 Million at $1.5 Billion Valuation
- $37B Bank SoFi Launches Crypto Trading For Retail Customers
- China’s CVERC Accuses U.S. of Stealing 127k Bitcoin Amid Rising Government Crypto Adoption
- Chainlink Price Could Crash as 3 Risky Patterns Form Amid Whale Selling
- Cardano Price Could Reclaim $0.7 After Key Stakeholders Add $204M in ADA
- Uniswap Price Soars 21% on Fee Switch and Token Burn Proposal— Eyes $15 Target
- Bitcoin Price Eyes Bulls as Crypto Market Structure Bill Draft Finally Drops
- SUI Price Prediction: Analyst Eyes $20 Amid Bluefin Partnership and 2M Token Lending Deal
- HBAR Price Prediction: Analyst Eyes 90% Surge Amid Taker Buy Dominance
