LUNC(Terra Classic)24 hours rise 16.23%

Gate News Bot message, October 22, according to CoinMarketCap data, as of the time of writing, LUNC( Terra Classic) is currently priced at $0.000048, with a rise of 16.23% in the last 24 hours, reaching a high of $0.000050 and a low of $0.000037. The current market capitalization is approximately $264 million, an increase of $36.9 million compared to yesterday.

Terra Classic is an open-source decentralized blockchain, protected by the Tendermint consensus mechanism and built on the Cosmos-SDK. As a fork of the original Terra network, it now operates independently, maintained by a diverse set of validators and one of the most active grassroots communities in the crypto space. Blocks are completed in about 6 seconds, with fees under 1 cent, and the chain retains full sovereignty over smart contract execution. Users can access the Terra Classic Explorer to view real-time activities, while browsing the ecosystem map on our page can showcase all currently active wallets, dApps, and tools.

Important recent news about LUNC:

1️⃣ Community governance proposal promotes price rise The Terra Classic community has recently actively discussed and proposed several improvement plans aimed at enhancing network performance and the deflationary mechanism. These proposals include adjusting transaction tax rates and burn mechanisms, which are expected to increase the scarcity of LUNC, thereby supporting the price rise.

2️⃣ Sustainable Development of the Ecosystem The Terra Classic ecosystem is steadily recovering and developing. Multiple decentralized applications (dApps) and tools have been relaunched or upgraded on the platform, providing users with richer features and services. This increase in ecosystem activity has enhanced the utility of LUNC, attracting more investor attention.

3️⃣ Market sentiment turns positive With the overall recovery of the cryptocurrency market, investors' interest in high-risk assets has increased. LUNC, as a controversial yet potentially huge project, has attracted investors seeking high returns, leading to a significant rise in trading volume and prices in the short term.

From a technical perspective, LUNC has broken through several important resistance levels, showing strong upward momentum. However, considering its historical volatility, investors still need to be cautious of potential pullback risks.

This message is not intended as investment advice. Investors should be aware of market volatility risks.