Terra Luna Classic (LUNC) has been making major movements in the crypto industry, spearheaded by a highly involved community. Despite facing legal issues and the bankruptcy of its parent company,
Terraform Labs, the community has taken control over various processes and is making key improvements, like the Tax2Gas upgrade. The community also successfully passed important proposals, including tax handling and dealing with CoinMarketCap data. These critical changes and community-centric actions seem to be injecting momentum into LUNC's price. However, potential risks, such as validators violating chain rules, various vulnerabilities, and lawsuits make the project's future somewhat uncertain.Notably,
Terraform Labs has also had to pay almost $4.5 billion to settle an SEC fraud case, which has led to a vast LUNC burn - the largest in history. This factor, along with other pivotal elements like the AVAX buyback and successful proposal passing, has stimulated price rallies for both LUNC and LUNA.Nonetheless, Terra Luna Classic's journey has not been without some bumps. There was a significant drop in the coin's value a couple of years ago, serving as a stern reminder of the risks associated with altcoins. There have been ups and downs, including vulnerability attacks causing losses and forced delisting from the Gemini Crypto Exchange. As Terraform Labs plans to end operations, the Terra community is expected to take over.
Terra Coin News Analytics from Mon, 22 Jan 2024 08:00:00 GMT to Sat, 23 Nov 2024 10:10:42 GMT -
Rating 7
- Innovation 6
- Information 3
- Rumor -5
