Altcoin

Terra Classic Community Passes Crucial CoinMarketCap Proposal

Published

3 hours ago

November 16, 2024

LUNC News: The Terra Classic community has approved a proposal to transfer CoinMarketCap dashboard account access to top validator Allnodes directly. The move comes as the community recently asked Terraform Labs to grant access to the validator, but the beleaguered company failed to transfer the access. LUNC and USTC price gains upside momentum to breakout resistance levels amid the latest developments.

LUNC News: Terra Classic Nods Proposal to Transfer Access

Text Proposal 12145 “Request for CoinMarketCap Dashboard Access to be Transfer to Allnodes” has passed as the community decides to transfer CoinMarketCap dashboard access to Allnodes. The top validator will manage and update Terra Classic’s dashboard information, including social media links, website details, and other essential data.

TFL was asked to transfer CoinMarketCap dashboard access for Terra Classic ecosystem assets to Allnodes, but no action or response was received from anyone.

As reported earlier, Allnodes agreed to act as a temporary custodian of these access rights and agreements, to make any relevant changes on CoinMarketCap after governance voting.

Notably, the proposal saw more than 76% votes in favor, confirming support from the Terra Classic community. It also received 0.20% ‘No’ votes and 0.23% ‘No with veto’ votes, along with an abstain vote from Allnodes.

LUNC and USTC Prices On Bullish Run

Amid the key Terra Classic news, LUNC price soared 4% in the last 24 hours, with the price currently trading at $0.0001016. The 24-hour low and high are $0.00009656 and $0.0001042, respectively. Moreover, an analyst expects that the Terra Luna Classic price could soar 480% in the near term as the burn rate continues to rise.

Coinglass data indicate 1000LUNC open interest on Binance and Bybit skyrocketed more than 15% in the past 24 hours. This indicates that derivatives traders are actively buying LUNC futures.

Meanwhile, USTC price climbed more than 5%, with the price now trading at $0.02269. However, the trading volume saw a 32% decline in the last 24 hours. The price is still down more than 1% in a week.