Digital assets remained downbeat on Monday as Bitcoin hovered beneath the $95,000 mark. With analysts forecasting robust bounce-backs ahead of Donald Trump’s inauguration, Terra Luna Classic is on investors’ radar. Here’s why. LUNC: strategic token burns The LUNC community launched token burn initiatives to resurrect ecosystem tokens (after Terraform Labs’ debacle). The campaign has kept LUNC afloat by removing billions of tokens from circulation , with support from leading firms such as Binance. Meanwhile, the Terra Luna community plans to incinerate 1.8 billion USTC linked to the Luna Foundation Guard wallets. 🌠 Terra Classic 🌠 Validator by Lunanauts @Lunanauts_Lunc · Follow Replying to @frag_dude There’s 3 potential proposals here:1. Burn 1.8 billion LFG USTC2. Burn the oracle pool USTC 3. Burn the 4% supply @HappyCatKripto found that no one has access to (forgotten wallets)Anyone up for putting up these proposals?… #LUNCcommunity #LuncArmy #USTC #ustcburn … 7:12 pm · 12 Jan 2025 38 Reply Copy link Read 3 replies Moreover, they will burn USTC and LUNC in inaccessible wallets and all UTSC assets in Oracle rewards. Asset burns are crucial in reducing supply to boost demand. These events introduce scarcity, which enriches value. The Lunanauts validator initiated the token burn plans, and experts believe the program could propel LUNC prices to $1. The forks removal upgrade mainnet Orbit Labs revealed vital software update progress. The blockchain developer confirmed the completion of the initial phase, with the proposal up for voting before the February mainnet upgrade. 🌠 Terra Classic 🌠 Validator by Lunanauts @Lunanauts_Lunc · Follow 🚨 @orbit__labs , #LUNC Forks Removal Software UpgradeWhat does it mean? 👇🏽 hackmd.io/@orbitlabs/B1S… ⚠️Expect this in governance in the next few weeks, ready for a chain upgrade 😎 👌🏼 #LuncArmy #ustc #blockchain #cosmos #Binance #kraken #Coinbase #Crypto 1:17 pm · 12 Jan 2025 108 Reply Copy link Read 1 reply The developer added : We will prepare and submit the software upgrade proposal within the next 2-3 weeks. This proposal will outline the details and schedule for the mainnet upgrade. Meanwhile, this final update about the fork removal’s initial phase proposal comes after over two months of committed development and testing. The team has successfully migrated the relevant code and logic that were part of LUNC’s forked repository. Meanwhile, the upcoming upgrade will align Terra Luna Classic with the Cosmos ecosystem. LUNC fuels dApps developments within the Cosmos platform. It will enhance maintenance and security updates. Real-world utility The network has completed various developments to increase use cases within the Terra Luna Classic atmosphere. The latest Binance-supported v3.3.0 upgrade enhanced the blockchain’s utility by alleviating barriers for dApps and developers interested in building on the LUNC chain. ⭕️ LUNC GURU ⭕️ @LUNCGURU · Follow 🚨 BREAKING: #Binance supports the Terra Luna Classic v3.3.0 network upgrade, now live! 🌐-Simplifies tax handling-Boosts developer utility-Major step for #LUNC & #USTC revivalLUNC trades above $0.00012, and the community rallies behind the upgrade! 🔥 #TerraClassic #Luna 12:16 am · 18 Dec 2024 116 Reply Copy link Read more on Twitter Also, features such as TerraCasino, Garuda DEX, Selenium, Terra port, and LBUN increase Terra Luna’s real-world appeal. Terra Luna’s legal updates Despite crucial evidence against Terraform Labs co-founder Do Kwon, the latest updates show he entered a not-guilty plea in the United States court. That means he denied accusations charging him with wire fraud, money laundering, commodities scam, and security fraud. Meanwhile, the co-founder’s fraud trial will potentially start in January 2026. Currently, prosecutors are working on translating communications to English (from Korea) and cracking encrypted devices. That suggests reduced regulatory friction, leaving LUNC’s price performance in the hands of the broad market sentiments in the near term. LUNC & USTC price actions LUNC trades at $0.00009942 after losing 3.5% and 18% in the past day and week. The alt exhibits notable bearishness as it mirrors the overall crypto market stance, where bears flex their muscles. Also, USTC displayed selling pressure, down 4.14% and 17% over the past 24 hours and week to hover at $0.01772. Chart by Coinmarketcap While declining trading volumes suggest more pain, ecosystem developments suggest massive recoveries for LUCN and USTC upon broad-based crypto rallies. The post Terra Luna Classic outlook: key developments signal early recovery for LUNC price appeared first on Invezz
