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The Terra community has initiated crucial proposals that could revive the cryptocurrency by bringing new changes to the Terra Classic ecosystem. With the voting process still ongoing and community feedback highlighting a potentially positive outcome, the price of LUNC, the native token of Terra Classic, has seen a major uptick.
Having benefited from a recently passed block size proposal and a jump in volume, Terra Classic (LUNC) has been trading relatively high in the last 48 hours or so – especially compared to its broader 30-day performance.
The Terra Luna Classic community has recently approved a significant proposal designed to address potential risks associated with peer-to-peer storm attacks on the Terra Classic chain.
If implemented, the block size reduction and gas fees increase may help the network fight spam attacks.
The Terra Luna Classic (LUNC) has passed the vital proposal to reduce the maximum block size. The LUNC community has supported the decision to decrease the block size to 2MB from 5MB to remove the dangers of peer-to-peer storm outbreaks within the ecosystem.
Terra Luna Classic community has unanimously passed a crucial block size proposal to mitigate some risks of peer-to-peer storm attacks on the Terra Classic chain. Notable developers have pointed out possible risks to Cosmos, Solana, and Polkadot ecosystems and suggested initial measures to reduce the impact of such attacks.
LUNC price analysis: Terra Classic investors are beaming with hope of a potentially larger bullish breakout on Friday ahead of Bitcoin Halving. The outlook of the entire crypto market has also changed alongside Bitcoin price move on the day, which recouped earlier losses peaking at $65,000.
Terra Luna Classic community is taking steps to prevent spam attacks on the chain and proposing several measures such as increasing gas fees. A proposal of increasing gas fees by 10x is submitted claiming current levels for transactions are extremely low and causing attacks feasible and economical.
Terra Luna Classic community drops a bombshell: core team proposal gets shunned, triggering LUNC price havoc.
LUNC News: Terra Luna Classic community currently voting on a crucial proposal to mitigate some risks of peer-to-peer storm attacks on the Terra Classic chain. Notable developers have pointed out possible risks on Cosmos, Solana, and Polkadot ecosystems and suggested initial measures to reduce the impact of such attacks on the chain.
Terra Luna Classic community pool balance has hit a new all-time high of 5 billion LUNC, a milestone for the community as more funds remain available for developers and other contributors. However, the development activity decline is a big reason to worry, as per TVL and commits data of the chain.
LUNC price analysis: The token has experienced a remarkable surge in its market value, exhibiting a strong bullish pattern in the last day marking renewed interest among investors. In the last 24 hours, Terra Classic price increased by 5.44%, hitting a high of $0.000104.
Terra Luna Classic community has turned down a key proposal to establish a core team to manage all the developments on the Terra Luna Classic chain. While the proposal is promising, most members and validators think it lacks details and contradicts the pay-per-job (PPJ) rule.
Wanted by many, Do Kwon's extradition destination now depends on the Montenegrin Minister of Justice.
Do Kwon's legal team have three days to appeal the ruling.
Terra Classic analysis: LUNC price has experienced a minor decline in value over the past day, mirroring a mundane trading environment across the crypto market. This token commenced trading today with a modest bearish trend, further accentuating disinterest among investors ahead of Bitcoin halving this month.
The Terra Luna Classic (LUNC) community is currently engaged in voting on a crucial proposal aimed at establishing a core team responsible for overseeing the chain's developments and other key decisions. This proposal comes in the wake of the disbandment of the core developer group Joint L1 Task Force (JL1TF) in March.
Terra Luna Classic proposes to establish a core team to look after all the developments of the Terra Luna Classic chain. After the disbandment of core developer group Joint L1 Task Force (JL1TF) in March, a proposal is suggested to set up a community-appointed team comprising key people including developers and contributors.
The recent ruling by a Montenegran high court puts the onus of determining Do Kwon's extradition destination on the country's Justice Minister, Andrej Milovic.
Montenegro's High Court has once again approved the extradition of Do Kwon, a key figure in the cryptocurrency Terra Luna crash, paving the way for a potential transfer to the United States.
The High Court of Montenegro, in Podgorica, has accomplished the phase of its report on the extradition of Terraform Labs' co-founder Do Kwon, while the country's Justice Minister Andrej Milović is getting a proposal to make the decision.
It's unclear if the Terraform Labs co-founder's lawyers intended to appeal the court decision, which would again delay any possible extradition to the United States or South Korea.
According to South Korean local media outlet YNA, a Montenegro court has again approved the extradition of the embattled Terraform Labs co-founder Do Kwon. This development occurred less than a week after the Supreme Court of Montenegro invalidated a ruling recommending Kwon's extradition to South Korea.
The ongoing legal drama surrounding Do Kwon, cofounder of Terraform Labs, takes on a new twist as his fate hangs in the hands of the Minister of Justice.
