Luna Classic News Today – July 31, 2024
Key Developments
- Coinbase Relisting: There are strong indications that Coinbase might relist Terra Luna Classic (LUNC). This potential relisting has already had a positive impact on LUNC’s price, which has seen a 1.10% increase in the last 24 hours, reaching $0.0001054. This move is viewed as a significant vote of confidence for the Terra Luna Classic project, which has been working hard to regain market confidence since the ecosystem’s collapse (CoinGape).
- Token Burns: Binance has played a crucial role in supporting the Terra Luna Classic community by conducting regular token burns. Recently, Binance burned over 59 billion LUNC tokens, contributing to a total of 113.71 billion LUNC tokens burned. These burns are part of efforts to reduce the circulating supply of LUNC, which is aimed at increasing its value and stabilizing the ecosystem (Crypto News Flash).
- Community Initiatives: The Terra Luna Classic community remains highly active and optimistic about the token’s future. A notable community member, ClassyCrypto, has announced plans to burn billions of LUNC tokens, using 100% of validator commissions for burns throughout the year. This initiative is part of a broader effort to revive the LUNC token price to $1 (Finbold).
- Chain Upgrade: The recent v2.4.2 upgrade of the Terra Luna Classic chain has been successfully implemented, which included significant improvements such as IBC-Hooks for better dApp integration. This upgrade has boosted community morale and increased the holder count to 5.52 million. This development is seen as a positive step toward enhancing the security and functionality of the Terra Luna Classic blockchain (Daily Coin).
Overall, these developments highlight a series of positive actions and community efforts aimed at revitalizing Terra Luna Classic, with the potential to stabilize and increase its value in the market.
For more detailed updates, you can read the full articles on CoinGape, Finbold, and DailyCoin.