5 Version Upgrade, which will pave the way for the resumption of the Terra Classic (LUNC) token burning of cryptocurrency trading platform Binance, is scheduled to be released on February 14th, a development that could positively impact the price of LUNC.
The Terra Classic upgrade is near! How will the LUNC react?
The popular cryptocurrency social media influencer known by the nickname Classy Crypto and the release of a new upgrade as the Terra Classic network validator on February 12 brings Binance one step closer to the ecosystem.
$ AWAY v1.0.5 goes live in a few days!#Binance burns are one step closer!
Retweet to spread the word 🔥
— Classy 🔮 (@ClassyCrypto_) February 12, 2023
Coincidentally, the proposal accepted on January 25 was a state-changing software upgrade proposal for the transition from v1.0.4 to v1.0.5 on the Terra Classic blockchain” and “stores the current version map of modules in the upgrade protector in application memory” and “LCD A simple fix on the node’s LCD endpoint that fixes a computational issue in .
Raise the v1.0.5 offer. Source: Classy Crypto
Prior to the upgrade, the team had set the stage by introducing block-height guards “so that validators and full nodes can properly upgrade until the state disrupting change at block 11,543,150, which will be approximately Feb 14, 2023.” LUNC developer Edward Kim wrote on the upgrade’s GitHub page on Jan.
LUNC and USTC reactions
The upgrade should be good news for Terra Classic’s native token, as the manhunt for the ecosystem’s founder Do Kwon by South Korean authorities intensifies and spreads to Serbia, Finbold reports.
However, this will not necessarily affect the price of LUNC, as the value of the original chain of the crashed Terra (LUNA) ecosystem failed to recover in early January despite the Southern District Court of New York dismissing the case against Terraform Labs.
At press time, LUNC has started to make a modest 0.08% rebound in the last 24 hours as it tries to balance the 6.79% loss last week and the 4.51% drop on its monthly chart that is now changing hands. 0.0001687$ price.
LUNC 24-hour price chart. Source: Finbold
Despite the dips in its weekly and monthly charts, the crypto community on CoinMarketCap remains bullish and predicts that LUNC will be trading at $0.0004574 by February 28, which is even more optimistic than previous forecasts reported by Finbold on February 7.
At the same time, according to the latest information received by Finbold on Feb. 13, the ecosystem’s unpegged stablecoin TerraClassicUSD (USTC) has increased by more than 10% compared to the previous day.
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