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Terra Luna Classic Community Passes Crucial Proposal, LUNC Price to Rally?
Terra Luna Classic community has approved a proposal appointing Allnodes to provide accurate LUNC circulating supply data. The proposal aimed at changing the circulating supply API endpoint to Allnodes FCD, while developer Raider warned about the need to persuade Binance and CoinMarketCap to use a totally different API for total supply and circulating supply.
Allnodes To Handle Terra Luna Classic Circulating Supply Endpoint
Proposal 12103 “Change official CS API endpoint to Allnodes FCD” was passed by the Terra Luna Classic community, with only 57% voter turnout.
The proposal has received 53% “Yes” votes, along with 2% “No”, 12% “No with veto”, and 32% “Abstain” votes. Majority of validators including Interstellar Lounge, HappyCattyCrypto, Hexxagon, and StakeBin have voted in favor of the proposal, Allnodes and a few others voted “Abstain”.
Top validator Allnodes will provide the endpoint. Furthermore, the proposal also seeks to get a consensus about the method of calculating the circulating supply.
Allnodes will be required to update to the latest FCD version and implement the following calculation of circulating supply: Circulating Supply = Total Supply – unvested Tokens – Community Pool Holdings – Staked and bonded tokens.
This will help any third-party website to refer Allnodes FCD API as the official information source for Terra Luna Classic circulating supply of LUNC, USTC, and other native tokens. This also lowers the risk of individuals changing circulating supply or total supply, without appropriate discussion and input.
However, Raider revealed that the official LCD and FCD endpoints for supply calculation were rejected by CoinMarketCap and Binance asked to create an API consistent with the circulating supply definition of CoinMarketCap.
Also Read: Bitcoin Price Today – Exchange Supply Hits Low At 1.7M BTC Ahead ETF Second Wave
LUNC Price to Rally?
LUNC price analysis by CoinGape Markets revealed a triangle breakout is likely to set Terra Classic on a path to 26% recovery. However, if support at $0.0001 weakens, declines may extend to $0.000088 in May.
The community expects LUNC price to cross $0.0002 again amid development activity and staking. LUNC price trading sideways after an upswing this week. The 24-hour high is $0.0001061, with trading volume rising slightly in the past 24 hours. However, derivatives trading data by CoinGlass revealed a buying activity in the last few hours.
USTC price also moved sideways amid low trading volumes in the last few days, especially last week. The price is trading at $0.02141, with a 24-hour low and high of $0.02091 and $0.02161, respectively. Trading volume has decreased by 15%, indicating a lack of interest among traders.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Meme coins themed after celebrity Andrew Tate might be making a comeback alongside the wider digital asset market. Crypto assets look to offset double-digit losses picked up in the last seven days as sentiments hit a new low not recorded in months. Meme coins also tumbled following the market sell-off with multiple categories trading at new lows.
Andrew Tate tokens were not an exception to the negative trading this month although signs of positives are seen today. The crypto recovery means total assets are now worth $2.09 billion, this is a drop from $2.6 trillion last month. Celebrity meme coins on the other hand declined before a 12% upswing today taking its market cap to $44.5 million.
Andrew Tate Meme Coins
Meme coins themed after Andrew Tate have recorded upticks today. RNT saw the largest gains including the wider celebrity meme coin bracket with a 14.2% gain. The asset’s price trades at 0.007277 after weekly numbers soared improved to 6% wiping out month-to-date exits. Daily volumes also pointed north soaring to $1.7 million.
Similarly, Top G saw 2.5% inflows in the last 24 hours with its price at $0.000825. The market correction is depicted in longer-term numbers as weekly figures remain in the red zone. This week, Top G fell 28% wiping out a significant chunk of gains. In the last two weeks, the asset plunged over 50%.
However, TME fell 2.9% today declining sentiments in Andrew Tate-themed tokens. TME trades at $0.0002281 and remains in the red zone for the last 30 days.
Will Prices Recover?
While RNT and Top G gained momentum, TME declined leading to shaky sentiments. The crypto asset rebound following US job data points to increased activities in the last 24 hours. As Bitcoin price and ETF inflows record upticks, altcoins and meme tokens will follow suit recovering losses from the market correction. Meme coins themed after Andrew Tate are tipped to follow the market trend with bulls expecting inflows.
Also Read: PEPE, WIF, And These Meme Coins Recovers, Where Others Failed
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
In a groundbreaking move, the enigmatic Shiba Inu project lead, Shytoshi Kusama, has confirmed his next destination: Mumbai, India. This announcement follows his electrifying appearance at the IVS Conference in Kyoto, Japan. During his Kyoto visit, Kusma captivated the Shiba Inu community, also known as the SHIB Army, as he made his first-ever public appearance.
Shytoshi Kusama Confirms Another Public Apperance
As Shiba Inu lead developer, Shytoshi Kusama, announced his visit to India, the country’s SHIB community got excited. After the success of the recent Kyoto event, a similar frenzy could be witnessed along Mumbai’s shores. In a post on X, Kusama wrote, “Thank you, Kyoto! Great event @IVS_Official ! Next stop… Mumbai!”
Earlier, Kusama’s appearance at the Shiba Inu booth in Kyoto, as he previously hinted on his social media, was met with tremendous enthusiasm. The Shiba Inu lead was dressed in a black haori samurai ensemble and a Batman-style mask. Hence, he maintained his pseudonymous identity while engaging with the Shib Army and other crypto enthusiasts.
Moreover, the event was marked by photos and videos going viral within the Shiba Inu community, amplifying the excitement around the project. Furthermore, Lucie, Shiba Inu’s marketing lead, expressed her delight at this historic moment. She spotlighted highlighting the enthusiasm of the Japanese Shib Army.
In her tweet, she thanked the community and shared a photo of Kusama alongside a Japanese politician, emphasizing the significance of the encounter. In addition, a prominent Shib Inu community member from Japan, shared videos from the event. The videos showcased Kusama interacting with participants at the Shiba Inu booth.
Moreover, another video showed him shaking hands and signing a participant’s cap, further solidifying his connection with the community. Additionally, WeCreate3, a student community of Japanese Web3 enthusiasts, also documented their meeting with Kusama. They also expressed hopes for a future partnership with the Shiba Inu network.
Also Read: Shiba Inu Coin Surges As 360M SHIB Burnt Over The Week, More Steam Left?
Will Kusama Continue Meeting The SHIB Army?
Despite some skepticism regarding whether it was truly Kusama under the costume in Japan, the SHIB Army’s loyalty remains unwavering. The community eagerly anticipates future developments in the Shiba Inu project and Kusama’s contributions to the broader crypto ecosystem.
Moreover, Kusama’s visit to India is expected to be a significant milestone for the Shiba Inu project. It indicates a strategic move to engage with the global SHIB Army. The Indian crypto community, known for its vibrancy and enthusiasm, is likely to provide a warm reception to Kusama.
The event in Mumbai is anticipated to feature interactive sessions. In addition, it could also witness discussions on future projects, and perhaps more revelations about Shiba Inu’s roadmap. However, the actual details of the event are still under wraps.
Whilst, this announcement hints at further public appearances for Kusama for interacting with the SHIB Army. Earlier, the Kyoto meet was expected to be one-off-its-kind. However, with the revelation of a similar event in India, the Shiba Inu community is optimistic on Kusama’s continued global visits.
Also Read: Why Meme Coins Are Pumping Today?
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The Terra Classic Foundation announced on X that the staking ratio for Terra Classic (LUNC) has surpassed 15%. Moreover, the amount of staked Terra Luna Classic has exceeded 1 trillion tokens. Furthermore, the significant LUNC token burns by Binance have also added to the growing optimism around the crypto’s performance.
Terra Luna Classic Staking Ratio Surges
According to the latest data from Terra Classic Foundation, over 1.017 trillion LUNC has been staked on the network. At the current price, this Terra Luna Classic staked reserve is valued at $70.15 million. Moreover, the staking ratio has now surged to a high of 15.01% from 14.83% a few days ago.
Earlier, on July 1, Binance, the world’s largest cryptocurrency exchange, burned 1.7 billion LUNC tokens. This marked the 23rd batch of the LUNC burn mechanism. Moreover, Binance has now burned nearly 62 billion LUNC tokens to date. The total LUNC tokens burned by the Terra Luna Classic community have exceeded 125 billion.
In addition, Binance’s continuous support for the Terra Luna Classic revival since 2022 is noteworthy. The exchange’s monthly LUNC burn mechanism significantly contributes to reducing the overall supply. The 23rd burn batch covered the period from May 31 to June 29. It burned a substantial amount of trading fees. Furthermore, Binance alone accounts for over 50% of the total LUNC burned by the community.
Also, the increase in the staking ratio can positively influence the Terra Luna Classic price. Higher staking ratios often indicate strong community confidence and reduced available supply for trading. This can lead to decreased selling pressure and potential price appreciation.
Staking locks up tokens, reducing the circulating supply. With fewer tokens available for trading, demand can push the LUNC price higher. Additionally, increased staking signals long-term commitment from holders, which can attract more investors.
Also Read: Will Terra Classic Price Lose $0.00006 Support Amid Market Sell-off?
What’s Next For LUNC Price?
The crypto market faced supply pressure this week due to the Bitcoin price correction. This was influenced by liquidations from the Mt. Gox exchange and the German government. Moreover, the Bitcoin price plummeted to a four-month low of $53,550. In addition, the bearish momentum spread through the altcoin market, which also impacted Terra Luna Classic.
Thereafter, the LUNC price dropped below its seven-month support level. The Terra Luna Classic correction began in early March when the price fell from $0.00025. By July 5, the price had dropped 73.6% to $0.0000673. However, on Saturday, July 7, LUNC price saw a rebound with over 7% gains, trading at $0.00006898.
This rebound suggests that a further dip to $0.000052 might be avoided. For restricting the downturn, the LUNC price needs to breaks out from $0.00007 and sustains that level. Whilst, the current market cap for LUNC stands at $376.43 billion. Moreover, the reduced token supply owing to token burns by Binance and community staking can also aid in boosting the Terra Luna Classic price.
Also Read: CBN Official Testifies Binance Illegally Operated in Nigeria
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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