LUNC Price Jumps 5% & USTC 12% After Core Security Upgrade Package Announcement
Terra Luna Classic core developer L1TF has announced a core security upgrade package to address the security risks and other concerns of the Terra Luna Classic community. The upgrade of core components will improve security and stability of the chain. Traders reacted positively to the announcement, causing the LUNC and USTC prices to jump massively within a few hours.
Terra Luna Classic Core Security Upgrade
Joint L1 Task Force (L1TF) developer Vinh Nguyen in a post on X on January 16 announced a ‘core security upgrade package’ to address the security risks on Terra Luna Classic. The community has shared concerns regarding the lack of new features originated from legacy components of Terra Luna Classic.
He said a successful upgrade to core components will boost security and stability. It will also help meeting the infrastructure requirement for TFL support.
“We believe that our ample experience in maintaining, and mainnet deploying these core components will provide most excellent service to the community. We also want to extend our gratitude to people who have helped us reviewing this package so that it is in line with Pay – per – Job gov – approved proposal,” said Vinh Nguyen.
The team consisting of Vinh, Inon Man, and Frag (voluntary contributor) require 11 week to complete the upgrade. The total budget is $51,000, which will be in a multisig account held by members of this package and oversight committee. Terra Classic components including Wasm module (wasmd) and Wasm Virtual Machine (wasmvm), Cosmos SDK, Comet BFT, IBC-GO, and Mainnet.
Read More: Terra Luna Classic Commits To Introduce EVM Support, LUNC Price Rebounds?
LUNC and USTC Prices Rally
After the announcement, Terra Luna Classic (LUNC) and USTC price witnessed significant rally. The traders could be making readjustments to their trades in light of recent developments.
LUNC price jumps over 5% in the last 24 hours, with the price currently trading at $0.000126. The 24-hour high and low are $0.000118 and $0.000127, respectively. Moreover, trading volume has increased by 65% in the last 24 hours, indicating a rise in interest among traders.
Meanwhile, USTC price also rallied after the announcement on the back of massive 230% rise in trading volume. The price is currently trading at $0.030, up over 12% in the last 24 hours. The 24-hour high and low are $0.0268 and $0.0318, respectively.
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