Terra Classic (LUNC) Rallies After Key Governance Proposal Approval
- LUNC sees a 271% spike in trading volume post-governance approval.
- LUNC price surge to $0.0001263 signals bullish market sentiment.
- Proposal 12104 enhances IBC, aiming for smoother blockchain transactions.
Terra Classic (LUNC) price has been in a bullish rally over the last 24 hours, driven by significant community developments and trading activity. The Terra Luna Classic community recently passed a critical governance proposal that has had a direct impact on the market dynamics of LUNC and its associated tokens.
LUNC/USD 24-hour price chart (source: CoinMarketCap)
At press time, LUNC was trading at $0.0001147, a 2.55% surge from the intra-day low. During the rally, its market capitalization also gained 2.75% to $664,477,770.
Terra Luna Classic Proposal
The Terra Luna Classic community has successfully approved proposal number 12104, “Reactivate Osmosis IBC,” submitted by developer Fragwuerdig, a former member of the core development team. This proposal focuses on enabling inter-Blockchain Communication (IBC) with the Osmosis protocol, aiming to restore the connection as Client ID 07-tendermint-12 on columbus-5 referencing the Osmosis validator …
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