Altcoin News

LUNC News: Terra Classic Community Makes Crucial Move With Allnodes

LUNC News: Terra Luna Classic community proposes to bring Allnodes as an official organization to manage the endpoint for circulating supply.
Published by
LUNC News: Terra Classic Community Makes Crucial Move With Allnodes

Highlights

  • Terra Classic community voing to bring an official organization for management of endpoints.
  • A proposal will make validator Allnodes to protect against single individuals making unauthorized changes to the supply.
  • LUNC and USTC prices near breakout for a rally.

LUNC News: Terra Luna Classic community started voting on a key proposal to bring an official organization to be in charge of hosting the endpoint providing the correct circulating supply data for Terra Luna Classic. Top validator Allnodes will manage the endpoint to protect against single individuals making unauthorized changes to the supply without approval.

Advertisement

Terra Classic Brings Allnodes For Endpoint Management

Proposal 12103 “Change official CS API endpoint to Allnodes FCD” is currently under voting on the Station wallet, with the voting to end on May 18.

The proposal aims to secure an official organization to host the endpoint providing the correct circulating supply data for Luna Classic. It recommends top validator Allnodes for the role of providing the endpoint. Furthermore, it seeks to get a consensus about the method of calculating the circulating supply.

Allnodes will be required to update to the latest FCD version and implement the following calculation of circulating supply: Circulating Supply = Total Supply – unvested Tokens – Community Pool Holdings – Staked and bonded tokens.

This will help any third-party website to refer Allnodes FCD API as the official information source for Terra Luna Classic circulating supply of LUNC, USTC, and other native tokens. This also lowers the risk of individuals changing circulating supply or total supply, without appropriate discussion and input.

The proposal has received 56% “Yes” votes, along with 3% “No”, 41% “No with veto”, and 1% “Abstain” votes. Majority of validators including Community First LUNC, Hexxagon, LUNC Development Fund, and others has voted in favor of the proposal, but top validators are yet to vote.

Also Read: Terra Luna Classic (LUNC), USTC Removed From Luna Foundation Guard

Advertisement

LUNC and USTC Nears Upside Breakout

LUNC and USTC prices skyrocketed recently after the news of decline in circulating supply. This has also restored burn and destroy narrative in the Terra Luna Classic community. The community also seeks to burn USTC and LUNC in the LFG wallet to reflect in total supply.

LUNC price is currently up 1% over the last 24 hours, with the price currently trading at $0.0001052. The 24-hour high and low are $0.0001007 and $0.0001062, respectively. Moreover, the trading volume has increased further by 28% in the past 24 hours, indicating buying by trades. An analysis by CoinGape Markets predicts a target price of $0.0005.

Meanwhile, USTC price fell 2% in the last 24 hours, with the price currently trading at $0.0227. The 24-hour low and high are $0.02233 and $0.02389, respectively.

Also Read:

Advertisement

Share
Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

Bitcoin Still Undervalued, JPMorgan Forecasts Rally to $165,000

JPMorgan says Bitcoin (BTC) is undervalued compared to gold and could rise to $165,000, giving…

October 2, 2025
  • 24/7 Cryptocurrency News

Breaking: CME to Launch 24/7 Crypto Futures Trading Amid Rising Institutional Demand

Derivatives exchange CME Group has announced plans to begin offering 247/7  crypto futures and options…

October 2, 2025
  • Bitcoin News

Citigroup Predicts Bitcoin Could Climb to $231,000 in 12 Months

Banking giant Citigroup has revised its Bitcoin prediction to $231,000 in the next 12 months,…

October 2, 2025
  • 24/7 Cryptocurrency News

Ethereum and BMNR Rallies as BitMine Drops $1B on ETH, Analyst Hails “Most Bullish Setup Yet”

The Ethereum price and BMNR stock have recorded modest gains thanks to BitMine’s recent $1…

October 2, 2025
  • 24/7 Cryptocurrency News

ASTER Deposits Flows Into Binance Wallets Following CZ Endorsement, Listing Incoming?

In a fresh development, multiple ASTER tokens have been sent to Binance spot wallets, following…

October 2, 2025
  • 24/7 Cryptocurrency News

Avalanche Treasury Seals $675M Deal With Mountain Lake to Build $1B AVAX Vehicle

Avalanche Treasury Co., in partnership with Mountain Lake Acquisition Corp., has unveiled a $675 million…

October 2, 2025