5 Terra Luna Classic Developments, How LUNC Price To Impact?

Terra Luna

Highlights

  • Terra Luna Classic developer prepares for the Fork Removal Software upgrade.
  • The community plans to burn 1.8 billion USTC in Luna Foundation Guard-linked wallets,
  • Ecosystem utility is growing with Terraport, LBUN, Selenium, Garuda DEX, and TerraCasino projects.
  • LUNC and USTC prices to recover with the altcoin market.

The Terra Luna Classic (LUNC) community has faced several setbacks in its recovery efforts as the broader cryptocurrency market experienced a downturn. Traders are reassessing their positions in anticipation of Donald Trump’s inauguration on January 20, causing a ripple effect across various digital assets, including LUNC. The market volatility has led to cautious sentiment, with many investors waiting for clarity before making significant moves.

Despite these challenges, the Terra Luna Classic community has remained active in its efforts to revive the ecosystem. Developers continue to focus on key upgrades, such as the Fork Removal Software, which is expected to improve network performance and governance. These upgrades are seen as essential for the long-term stability and growth of the LUNC blockchain, but external market conditions have made progress slower than anticipated.

The community has also set ambitious goals for the burn process, planning to burn 1.8 billion USTC from Luna Foundation Guard-linked wallets. This move is designed to reduce the circulating supply of USTC and help stabilize its value. However, the broader market downturn has complicated the execution of these plans, as the volatility in prices makes it more difficult to track the success of burn efforts and achieve the desired results.

At the same time, Terra Luna Classic’s ecosystem is expanding with several new projects. Notable names like Terraport, LBUN, Selenium, Garuda DEX, and TerraCasino are making waves, offering new utility and features to the platform. These projects are critical to attracting more users and increasing adoption, yet the market downturn has somewhat dampened their initial momentum. The community remains hopeful that these initiatives will gain traction once the market stabilizes.

Looking ahead, the Terra Luna Classic community is still optimistic about the potential recovery of LUNC and USTC prices. Many believe that as the altcoin market recovers, so too will the fortunes of Terra Luna Classic. However, with external factors such as political events influencing market sentiment, the road to recovery remains uncertain. The community continues to work tirelessly on its upgrades and ecosystem development, hoping to emerge stronger once the market conditions improve.

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Terra Luna Classic Fork Removal Software Update

Orbit Labs, the blockchain developer, announced the completion of the first phase in removing the fork modules. The upgrade proposal will go up for governance voting next week, with the mainnet upgrade scheduled for February.

“We have successfully transitioned all relevant logic and code previously part of the forked repository. The changes include the following repositories and associated modules,” the team stated.

The developer group stated that the upgrade will align Terra Luna Classic with the mainstream Cosmos ecosystem. It will simplify security updates and maintenance, including a fix for multi-send handling in the “reverse charge” implementation.

Billions of LUNC and USTC Tokens Burned

Following Terraform Labs’ bankruptcy, the Terra Luna Classic community is planning significant burn campaigns for LUNC and USTC. With support from Binance’s LUNC burn mechanism, the community has already burned nearly 400 billion LUNC tokens.

Currently, the community aims to burn 1.8 billion USTC from Luna Foundation Guard-linked wallets, eliminate all USTC in the Oracle rewards pool, and burn LUNC and USTC from wallets with no known access. These plans, proposed by the Lunanauts validator, are driven by hopes for a potential repeg.

Creating Utility on the Terra Classic Network

Recently, the network was successfully enhanced with the “Upgrade to v3.3.0,” aimed at increasing utility on Terra Luna Classic by removing barriers for developers and dapps looking to build on the chain.

The Terra Luna Classic ecosystem is expanding with projects like Terraport, LBUN, Selenium, Garuda DEX, and TerraCasino. Selenium Protocol was developed in alignment with Mirror Protocol, the most significant protocol on the Terra chain.

Criminal Trial of Terra Co-Founder Do Kwon

Terraform Labs co-founder Do Kwon was extradited to U.S. authorities, where he pleaded not guilty to a nine-count indictment accusing him of securities fraud, wire fraud, commodities fraud, and money laundering conspiracy.

Do Kwon’s criminal fraud trial is expected to begin no earlier than January 2026, as prosecutors work on unlocking encrypted devices and translating communications from Korean to English.

LUNC and USTC Prices Expected to Recover

LUNC’s price has dropped 15% over the past week amid the broader crypto market crash, currently trading at $0.0001022. The 24-hour low and high are $0.0001012 and $0.0001046, respectively.

According to analysis, LUNC’s price is closely following the trend of the altcoin market. The price is currently at the key Fibonacci 0.618 level. Trading volume remains at its lowest, and such conditions often lead to extreme volatility, typically resulting in a clear directional movement.

“As a result, LUNC’s performance is largely dependent on Ethereum’s movement and the decline in Bitcoin dominance. It is crucial to support LUNC without significant deviations from the current range,” the analysis concluded.

Meanwhile, USTC’s price increased by nearly 1%, now trading at $0.0185. However, trading volume has dropped by 15% in the past 24 hours. Despite the recent price rise, USTC is still down more than 15% over the past week.

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