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Terra Luna Classic Community Passes Major Tax2Gas Proposal, LUNC Price To $1

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5 months ago

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LUNC News: Terra Luna Classic community has finally passed the proposal to implement Tax2Gas, which removes the need for separating handling and calculation of tax. Tax2Gas will incorporate the tax into the gas and decrease complexities for dApp developers and others, as stated StrathCole and Genuine Labs.

With Tax2Gas almost near implementation, the Terra Classic community members started discussions on raising the burn tax to 1.2%. Once it is implemented all crypto exchanges will burn on buys and sells and drive LUNC price higher.

Terra Classic To Implement Burn Tax Into Gas Fees

Proposal 12115 “Genuine Labs Tax2Gas Implementation” has passed in governance voting on Station wallet. The proposal by Genuine Labs aims to proceed with incorporating tax into the gas. The team will also work on increasing chain security by preventing attack vectors using e2e-test.

The proposal received 74.91% “Yes” and 25.03% “Abstain” votes. This indicates some community members were reluctant to accept the Tax2Gas implementation. Most validator who participated have voted in favor of the proposal. It received support from validators such as Interstellar Lounge, JESUSisLORD, Stakely, HappyCattyCrypto, StakeBin, and others.

However, top Terra Luna Classic validator Allnodes voted “Abstain” and warned the community about the low level of discussions.

“We are abstaining as we acknowledge the community sentiment. It is important to note that we are not satisfied with the public communication and will consider voting NO on further proposals if we do not see an improvement.”

As CoinGape reported earlier, Tax2Gas proposal is game-changing as it will resolve issues including contract developers’ need to calculate the burn tax manually. The issues are — clients or dApps have to calculate the tax themselves as the simulation endpoint only provides gas estimates. Migrating audited dApps becomes cumbersome due to these Classic-specific adjustments, leading to potential re-audits.

Genuine Labs developers require 5 weeks for research, development, and basic testing and deployment. The estimated total budget is $25,000 in LUNC.

Also Read: Terra Luna Classic (LUNC) Burn Tax Change Proposal Officially Passed

LUNC and USTC Prices Jump

LUNC price jumped 6% in the last 24 hours amid altcoins rally but gave up most gains. The price currently trades at $0.00009023, with a 24-hour low and high of $0.00008855 and $0.00009445, respectively. Moreover, trading volume decreased by 32% in the last 24 hours, indicating lack of interest among traders.

However, the Terra Classic community believes the price can hit $1 in this bull market. It needs to soar above the $0.00012 level for a massive rally to kick in.

Meanwhile, USTC price also climbed more than 2%, with the price now trading at $0.01857. The 24-hour trading volume saw a 12% drop in the last 24 hours as traders failed to hold the recovery.

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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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3 Trending Crypto Coins Ready to Soar by 100%

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13 minutes ago

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November 21, 2024

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Excitement fills the cryptocurrency market as Bitcoin price reaches a historic achievement, hitting a record peak of $97,000. Although the top cryptocurrency is getting most attention, other major altcoins have also seen small increases, indicating stable growth throughout the market. In the midst of all this action, three crypto coins—XRP, EGO, and Minotaurus (MTAUR)—are gaining notable interest for their ability to provide substantial profits. These tokens are strategically placed to take advantage of the market’s positive sentiment, driven by new advancements and investor trust.

Trending Crypto Coins Poised to Skyrocket 100%

1. XRP (XRP)

XRP has gained attention recently because its price surged to approximately $1.12. This marks an impressive 58% surge in the last week, making it one of the best-performing assets within the top 20 largest cryptocurrencies based on market value. Analysts have a positive outlook on its future, forecasting a possible XRP price increase to $1.96 if it continues to confirm its bullish chart formations. A combination of market trends, regulatory certainty, and investor outlooks have led to its increasing appeal.

XRP price performance chartXRP price performance chart

Ripple’s legal battle with the U.S. SEC is nearing a positive resolution, boosting confidence in XRP. The digital asset’s increasing adoption in global payments highlights its strength among top altcoins, making it one to watch.

Furthermore, XRP Ledger’s XLS-66D upgrade, which enhances the blockchain’s capacity for tokenized assets, has added another layer of optimism. With these advancements, XRP appears well-positioned for a significant price breakout.

2. EGO (EGO)

Meanwhile, EGO has captured attention with a dramatic price surge of 172% over the past month, driving a trading volume of approximately $1.42 million. Trading at $0.02479, this token has become a hot topic in the market, supported by strong technical indicators and investor confidence.

The Fear & Greed Index for EGO currently reads 83, signaling extreme bullish sentiment. Predictions suggest EGO could see a staggering 236% growth by December 2024, potentially reaching $0.061296.

EGO price performance chartEGO price performance chart

EGO’s growth is connected to its function in the Paysenger platform, which links Web2 and Web3 environments. By allowing content creators to earn money through EGO tokens, the platform has gained a larger user community of more than 50,000 people.

The growing popularity of these tokens has led to a favorable environment for their continuous expansion, making it one of the best cryptos to buy.

3. Minotaurus (MTAUR)

In the gaming industry, Minotaurus (MTAUR) is establishing a unique position with its token model focused on practicality and quickly growing presale. MTAUR is currently valued at 0.00006 USDT, approximately 70% reduction. This gives early adopters an opportunity to benefit significantly, as it is planned to be listed at 0.00020 USDT, indicating a potential 234% rise.

The project has already achieved a milestone of 200,000 USDT in its presale phase, sparking excitement among crypto enthusiasts.

Minotaurus TokenomicsMinotaurus Tokenomics
Minotaurus (MTAUR) Tokenomics

Minotaurus includes its token in an immersive gaming environment, providing options such as customizing avatars and entering exclusive in-game areas. Its strong token economics, planned for lasting viability, incorporates referral and vesting incentives.

Security audits conducted by SolidProof and Coinsult help to further increase market confidence. The excitement about the project is heightened by a 100,000 USDT prize, where one fortunate person will receive 50,000 USDT in MTAUR tokens. This pauses as a promising opportunity for those looking to capitalize on an early-stage cryptocurrencies.

A Bright Future Ahead for These Crypto Coins

With Bitcoin setting the pace with its unprecedented success, crypto coins such as XRP, EGO, and Minotaurus are following suit, displaying great potential ahead. These tokens, supported by strategic progress and strong investor support, showcase the expanding diversity and potential in the cryptocurrency market. With the ongoing bullish trend, these three assets have the potential to provide high returns that could significantly impact one’s life, making them important in the changing cryptocurrency market.

 

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Jane Lubale

With over four years of experience in the cryptocurrency, Fintech, blockchain, and Web3 industries, I bring a wealth of knowledge and expertise to every piece I write. Backed by a Masters in Business Administration, my writing combines insightful analysis with a deep understanding of market trends, technological advancements, and regulatory landscapes. Whether crafting engaging articles, informative guides, or thought-provoking analyses, I strive to deliver content that informs, educates, and inspires readers in this rapidly evolving space.

Disclaimer: 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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Why FLOKI Price Hits 6-Month Peak With 5% Surge?

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1 hour ago

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November 21, 2024

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FLOKI price has gained significant traction from investors lately, as evidenced by the meme coin hitting a 6-month high recently. Notably, this rally comes amid a flurry of developments surrounding the token as well as in the broader crypto market. In addition, recent on-chain metrics also indicate that the meme coins sector is likely to continue its run toward the north ahead.

Why Is FLOKI Price Rising Today?

The FLOKI price noted a robust rally recently amid major listing announcements and other positive developments in the broader crypto market. So, here we explore some of the top reasons behind the surge in the top meme coin’s price today.

Coinbase Listing Fuels FLOKI Price Rally

The anticipation over the meme coin’s listing on Coinbase has fueled optimism in the market lately. For context, the exchange added the crypto to its roadmap listing last week, sparking a rally in the FLOKI price. This development also reflects how listing announcements from major exchanges usually boost the assets’ prices while boosting the market sentiment.

Meanwhile, the token again noted a strong rally since yesterday, after the exchange announced to add support for the crypto on the Ethereum network. As per the announcement, the trading will commence on November 21, if liquidity conditions are met. Besides, the exchange also said that once enough “supply of the asset is established”, it would eventually launch the FLOKI-USD trading pair in phases.

Coinbase Lists FLOKI Coinbase Lists FLOKI
Source: Coinbase Assets, X

This announcement has further fueled optimism among investors, sparking hopes over soaring investors’ interest in the coming days. Having said that, the market anticipates this soaring interest in turn could significantly push the prices further high.

Meme Coin Frenzy

The rally in FLOKI price could be also attributed to the growing interest of the investors towards the broader meme coin segment. The meme coins have noted robust rallies in recent days, as evidenced by the soaring prices of assets like DOGE, SHIB, PEPE, and others.

Additionally, IntoTheBlock has shared a bullish chart recently, which has further sparked market interest. In a recent X post, the leading on-chain analytics firm said that meme coin season isn’t over yet, and the market has not fully entered the sector. In other words, the report hinted towards a continuing rally for the top meme coins in the coming days, which might have also helped gains in the asset’s price.

Broader Crypto Market Rally

The broader crypto market has received a robust boost after Donald Trump’s election win, as evidenced by the soaring prices of digital assets. Notably, BTC has noted a significant rally today nearing the $98K mark, and marking its new ATH.

This showcases the growing confidence of investors in the digital assets space. Considering that, it appears that a flurry of investors are also shifting their focus towards the meme coins, given their lower prices as compared to other top altcoins. In addition, many investors might take the bull run as an opportunity to book quick profits through meme coin trading, given the highly volatile nature of the assets.

FLOKI Price Rallies After Recent India Marketing Campaign

In a recent development, FLOKI has announced a marketing campaign in Delhi NCR, India, which has caught the eyes of investors. The campaign, announced on November 18, aims to promote Floki’s PlayToEarn MMORPG game, Valhalla, to the Indian Web3 landscape.

Targeting key areas in Delhi, the campaign is expected to reach over 650,000 people daily, generating buzz and driving investor enthusiasm. This move is seen as a bullish sign for crypto, enhancing its appeal in the Indian market and paving the way for further growth.

Binance’s Extended Support

The shifting market focus towards the meme coins sector is also evidenced by the recent growing support by the top crypto exchanges. As said earlier, Coinbase has recently added support for FLOKI sparking market optimism and triggering a rally in its price.

In addition, Binance has also revealed extended support for the meme coins recently, which include SHIB, FLOKI, and other altcoins. In a recent announcement, Binance has announced updates on leverage and margin pairs for FLOKI, SHIB, ADA, HBAR, and others. This development has also sparked investors’ optimism towards meme coins, especially FLOKI.

FLOKI Price Hits 6-Month High

FLOKI price was up more than 5% while writing, while its one-day trading volume rocketed 146% to $1.38 billion. Besides, the meme coin has touched a 24-hour high of $0.000288, marking its 6-month peak. Furthermore, CoinGlass data showed that FLOKI Futures Open Interest rose nearly 20%, reflecting the strong market confidence towards the crypto.

Besides, recently, an analyst hinted at a potential 200% rally in FLOKI price in the coming days, which has also sparked speculations among traders. However, despite the bullish move, investors should trade with caution as meme coins tend to showcase more volatility than other traditional assets.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: 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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Bitwise Submits Filing Joining VanEck, Canary Capital

Published

3 hours ago

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November 21, 2024

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Asset manager Bitwise Invest is the latest to submit its documents for filing spot Solana ETF. With this filing, Bitwise is now in a race with other market players like VanEck and Canary Capital to bring the SOL ETFs to the market. The filing comes at a time when the SOL price is just 10% away from hitting a fresh all-time high.

Bitwise Files for Spot Solana ETF

According to the State of Delaware’s Division of Corporations website, Bitwise has currently registered a statutory trust for its proposed Solana exchange-traded fund (ETF). Notably, this is just registration and the asset manager needs to do more groundwork filings with the U.S. Securities and Exchange Commission (SEC).

ImageImage

To join VanEck and Canary Capital in Solana ETF race, Bitwise needs to submit the 19b-4 and S-1 forms to the US SEC. However, the asset manager has been steadfast in its approach to crypto ETFs, with Bitcoin ETF (BITB) and Ethereum ETF (ETHW) already trading on Wall Street. Last month, the asset manager filed for the spot XRP ETF.

With Donald Trump set to take charge of the White House in January 2025, the euphoria for spot Solana ETF has increased tremendously. Under the Trump administration, there’s renewed hope for a crypto regulatory framework and more clarity. The Trump-Vance transition team is holding discussions with crypto industry players to set up a White House post that will look into crypto policies.

Demand Grows for XRP, HBAR, DOGE ETF

Citing this wave of developments in the crypto ETF space, ETF Store President Nate Geraci said that there are ongoing spot ETF filings for several major cryptocurrencies, including Solana (SOL), Ripple’s XRP, and Hedera (HBAR). Last week, Canary Capital submitted the first filing for a spot HBAR ETF.

He also speculated that ETF issuers could expand their offerings further to other assets like Cardano (ADA) and Avalanche (AVAX). Commenting on this, Bloomberg’s senior ETF analyst Eric Balchunas stated that he expects a DOGE ETF filing to arrive by December 31, 2024. This comes amid the mega Dogecoin price rally so far in November.

The Solana price remained firm at its crucial resistance level of $240. Market analysts are predicting a new all-time high for SOL with a rally past $300 by the year-end. Currently, it’s a tough fight between the bulls and the bears, as the market awaits another catalyst for further rally amid anticipation for spot Solana ETF.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: 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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