Terra Luna Classic’s $1 Dream: Is Chain Upgrade the Catalyst?
Terra Luna Classic completes key system upgrade, but can LUNC price catch up with this remarkable achievement?
The Terra Luna Classic community is celebrating a breakthrough in further developing the game-tested blockchain. According to the pre-accepted governance proposal #12090, Terra Classic’s Layer-1 chain at block height 17309000 was supposed to kick in on March 25, disconnecting the chain briefly.
This chain upgrade v2.4.2 brings highly-awaited improvements to the Layer-1 chain, including IBC-Hooks, which are crucial for the seamless integration of new decentralized applications (dApps) on the network, such as Enterprise DAO. As the Hard Fork procedure went smoothly, this has sparked the Terra Classic community’s optimism regarding LUNC
After completing the crucial Hard Fork, Genuine Labs, the developer team responsible for a smooth transition into the upgraded chain version, published a bi-weekly report confirming that the chain upgrade is implemented. As Terra Classic validators gradually returned online, community members greeted Genuine Labs for their great work.
Terra Luna Classic’s $1 Dream Comes Closer?
The smooth operation of v.2.4.2 post-upgrade has planted optimism among Terra Classic’s community members. Crypto chart analyst Crypto Anu insisted that this new chain upgrade adds extra security measures to Terra Classic’s chain via The Terra Classic Security Package, which is due for completion in eight weeks.
Moreover, the recent upgrades have bumped the total LUNC holder count to 5.52 million, signaling long-term investor interest in this digital asset. Encouraged to contribute to LUNC burns, the community has set aflame to 105 billion LUNC tokens, leaving 5.8T Terra Classic tokens in circulation.
Terra Luna Classic ranks just #124, struggling to keep itself relevant among newly-emerged competing altcoins and memecoins. However, the 35% surge over the past month has brought optimism to its community as it continues to task itself with Terra Luna’s chain
