Terra Luna Classic’s Next Big Upgrade, Will Futures Back LUNC Price to $0.0005?

The Terra Luna Classic community has started voting on the blockchain’s next big update after the last year’s major parity upgrade. Terra Classic v2.4.2 upgrade to primarily introduce IBC-Hooks that will enable onboarding of dApps on the Terra Luna Classic, with mostly notably Enterprise DAO.

Terra Luna Classic Votes on v2.4.2 Upgrade Proposal

Software upgrade proposal “Upgrade v2.4.2” is live now for voting on the Station wallet, seeking validators and community approval to update the terrad client to v2.4.2 (upgrade name v7). If the proposal is passed, Terra Luna Classic chain will be halted at block height 17309000, expected at 14:00 UTC on March 25. The voting on the proposal closes on March 15.

There are several changes after a discussion in the community as every proposal before voting has to undergo a discussion period of a week. The major changes are package-forward-middleware (PFM) removed from mainnet release and minimum initial deposit addition.

Other details on the proposal are as reported earlier by CoinGape. Thus, the key Terra Classic upgrade will have the following developments:

• Introduction of IBC-Hooks (by Genuine Labs and Fragwuerdig)
• E2E and Interchain Testing Suite (by Genuine Labs)
• A fix regarding the processing of MsgExec in Tax Ante Handler (by Fragwuerdig)
• Introduction of IBC-Hooks (by Genuine Labs and Fragwuerdig)
• Add tests for MsgExec handling by StrathCole
• Fix minimum initial deposit handler by Frag and StrathCole

Until now, the proposal has received major support with 100% “Yes” votes. All 20 validators who have participated in the voting yet are in favor of the proposal.

Read More: Terra Classic Proposes To Expand Support for Validators, Uplifting Chain Security

LUNC Price to $0.0005?

LUNC futures open interests have dropped on major derivative exchanges, but 1000LUNC OI on Binance continue to provide support for the upside movement. Still, LUNC price of $0.0002 was achieved as predicted by CoinGape. The crypto bull market can further support for an upside push to $0.0005.

LUNC price continues to move near $0.0002. Terra Luna Classic price is trading at $0.000196, with a 24-hour low and high of $0.000188 and $0.000198, respectively. Moreover, trading volume has decreased further by 25% in the past 24 hours.

Meanwhile, USTC price fell 1% in the past 24 hours, with the price currently trading at $0.0361. The 24-hour low and high are $0.0358 and $0.0369, respectively. USTC trading volume has also dropped by 18% in the past 24 hours, indicating a decline in interest among traders.

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