LUNC News: Proposal To Re-Enable Terra Luna Classic IBC To Cosmos Chain Passed

Proposal To Re-Enable IBC Between Crescent and Terra Luna Classic Passes

Proposal 271 “Re-enable IBC Client to Terra Classic” is passed by the community to re-enable IBC transfers between Crescent and Terra Luna Classic. Crescent Network is a Cosmos appchain that provides multi-chain asset exchange and capital-efficient liquidity incentivization.

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The proposal has surpassed the “pass threshold” amid the community’s major support to the proposal. It received 99.98% votes in favor, while only 0.02% voted against the proposal.

Edward Kim earlier said it is necessary due to continuous changes in the Cosmos ecosystem and the testing required to reach parity with the Cosmos ecosystem. Also, it allows trapped assets to flow through the channels.

Read More: Early Terra Luna Classic Developers Seek Return To Revive LUNC & USTC To $1

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LUNC Price Continues To Fall Amid Bearish News

LUNC price is currently trading at $0.000078, down nearly 1% in the last 24 hours and 4% in a week. The community remains hopeful about a massive jump in LUNC prices. CoinGape Markets Analysis also predicts a jump in prices if it breaks above the descending channel.

Meanwhile, USTC price trades at $0.015, up 4% in the past 24 hours amid the USTC repeg efforts by the community. The 24-hour low and high are $0.0144 and $0.0157, respectively. Furthermore, the trading volume has increased by 55% in the past 24 hours, indicating an interest among traders.

Also Read:

  • Elon Musk Says X Will Never Launch A Crypto Token, Bullish For Dogecoin?
  • DeFi Crash Avoided: CRV Price Soars 10% As Curve Founder Pays Debt And Hacker Returns Funds
  • Valkyrie Converts Filing To Bitcoin and Ethereum ETF: Bloomberg Analyst

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