Altcoin
Terra Luna Classic Makes Final Key Changes To Upgrade
LUNC News: Terra Luna Classic developers have made final changes to the tax distribution upgrade. After completing development for Oracle Split logic to divert community pool rewards from tax burn to the Oracle Pool (OP), a release of the terrad client is created that will reroute short-term rewards to long-term rewards. The changes and block speed have delayed the upgrade by a few days.
Terra Luna Classic Tax Burn Distribution Upgrade Preparedness
The new Release v3.1.3 was announced by Terra Classic popular developer Till Z, known as Fragwuerdig in the LUNC community. The latest update was done in collaboration with a few other developers including StrathCole as per proposals 12098 and 12114 passed by the community.
A proposal will be submitted to get validator and community approval to update terrad client to v3.1.3. The chain will halt at block height 19108180, anticipated on July 29 at 13:00 UTC. The community anticipates key LUNC news regarding token burns by TFL before the update.
As per the GitHub, fixing parameters keys table, adjusting oracle split logic, and using wasmvm v1.5.2 to prevent memory leaks were primary tasks undertaken by the developers.
The logic will divert Block rewards to the Oracle Pool (OP), slowing down its depletion rate. This effectively makes the requirement change from short-term rewards to long-term rewards as per the proposals. The Genuine Labs made a second key change regarding the security and memory leak issues in wasmvm, which was fixed by bumping wasmvm version to v1.5.2.
Validators need to update with v3.1.3 release after the chain halt and infrastructure providers with mantlemint accelerated LCDs need to install the updated mantlemint version.
Also Read: Terra Classic Rejects Key Proposal; TFL Proceedings Boosts LUNC Rally
LUNC and USTC Jump Amid Market-Wide Recovery
In a major LUNC news for the community, Terra Luna Classic rallied more than 27% this week to recover from last month’s correction. LUNC price soared over 1% in the last 24 hours, with the price currently trading at $0.00009066. The 24-hour low and high are $0.00008865 and $0.00009411, respectively. Moreover, trading volume decreased slightly in the last 24 hours.
As per LUNC price analysis by CoinGape Markets, the price can easily surpass $0.0001 resistance. The leading indicators are showing signs of bullishness.
Meanwhile, USTC price also jumped 2%, with the price now trading at $0.02069. The 24-hour low and high are $0.02011 and $0.02161, respectively. The price skyrocketed over 28% this week.
Also Read: Elon Musk’s Video Post Pumps This Meme Coin By 42%
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.
Crypto analyst Mikybull Crypto provided a bullish outlook for the XRP price, predicting that Ripple’s native token could rally to as high as $8 in this market cycle. The analyst also suggested that XRP could rally higher with this price target unlikely to be the top for the crypto in this bull run.
Why The XRP Price Could Rally To $8 In This Cycle
In an X post, Mikybull Crypto predicted that the XRP price could rip through $8 before a cycle top because of the current bullish fundamentals. Although the analyst didn’t elaborate on these bullish fundamentals, they likely include the optimism around Donald Trump’s pro-crypto administration.
The current US administration undoubtedly provides a bullish outlook for XRP for several reasons. One is the fact that the US Securities and Exchange Commission (SEC) looks likely to drop its appeal against Ripple. Such development is a huge positive for XRP, given the negative impact the lawsuit has had on the crypto before now.
Furthermore, CoinGape reported that Donald Trump is open to the idea of a US-based coins strategic reserve, including XRP. This is bullish for the XRP price, considering that this would lead to greater adoption for the crypto.
Meanwhile, the new SEC administration is more likely to approve the pending XRP ETF applications, which is also a positive for the crypto. In line with this, more asset managers are expected to file to offer an XRP ETF soon enough. REX Shares recently filed with the SEC to offer one, bringing the total number of applications to five.
A Price Surge To $3.80 Could Be Imminent
Crypto analyst CasiTrades suggested that an XRP price surge to $3.8 could be imminent. She noted that the crypto already hit the major wave 4 target at $2.88.
As such, the crypto analyst remarked that the major focus now is to flip these local levels into support before the takeoff to wave 5 at $3.80. She noted that XRP had hit $3.24 and rejected it a couple of times. However, the analyst expressed optimism that the third attempt could finally this level into support.
Meanwhile, CasiTrades warned that the XRP price could consolidate between $3.24 and $3.33 before a breakout. She added that a new high is also required to confirm the wave 5 target of $3.80.
With its current bullish momentum, there is no doubt that the XRP price could soon reach this short-term target. CoinGape recently reported that Ripple’s native crypto has recorded an impressive 36.9% gain in the last month.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
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.
Donald Trump’s decentralized finance (DeFi) project World Liberty Financial has purchased a massive 14,403 Ethereum in the last 24 hours, cementing further confidence in the altcoin. The project made a fresh investment of $16 million in buying these coins and is already sitting on profit as the ETH price surged 5% to $3,4000.
World Liberty Financial Stashes More Ethereum
Trump’s World Liberty Financial (WLFI) has continued to accumulate Ethereum, spending a total of 48 million USDC to acquire 14,403 ETH at a price of $3,333 in the past 12 hours, as per data from Arkham Intelligence.
The organization now holds 40,765K ETH, valued at approximately $138.5 million. Additionally, World Liberty has a significant amount of ETH stored on Coinbase, which they recently deposited.
This recent accumulation puts behind the doubts that the Donald TrumpDeFi Project was offloading its ETH. As World Liberty Financial clarified, it was just part of routine transfers to new wallets and not part of their selling.
More Ethereum Purchases Coming?
On the other hand, Eric Trump, the executive vice president of the Trump organization has hinted that there’s more to come ahead.
Wait until you see what they do tomorrow! 🚀🚀 @worldlibertyfi https://t.co/v8eRDFImHo
— Eric Trump (@EricTrump) January 20, 2025
Commenting on the recent development around the TRUMP meme coin launch as well as the MELANIA meme coin launch, Donald Trump Jr. wrote:
“We are all extremely proud of what we continue to accomplish in crypto. $Trump is currently the hottest digital meme on earth and I truly believe that World Liberty Financial will revolutionize DeFi/Cefi and will be the future of finance. We are just getting started!”
ETH Price Surge to $4,000 Begins
Looking past last week’s underperformance, Ethereum bulls have charged in once again! In the last 24 hours, the ETH price has surged 5.11% moving past $3,400 levels with daily trading volumes jumping 117% to $68 billion. In the last 24 hours, the total ETH liquidations have shot up to $209 million as per the Coinglass data.
Popular crypto analyst CrediBULL crypto stated that ETH has bounced back from the strong support levels of $3,100 and is on the way to its immediate target of $4,000.
Popular analyst Ali Martinez highlights that during every bullish cycle, Ethereum (ETH) has traded above the 3.2 MVRV Pricing Band, a level that currently stands at $7,000.
In every bullish cycle, #Ethereum $ETH has traded above the 3.2 MVRV Pricing Band. This level currently sits at $7,000! pic.twitter.com/AgCIgexQJH
— Ali (@ali_charts) January 20, 2025
World Liberty Financial (WLFI) Token Sale
World Liberty Financial, has successfully completed the pre-sale of its token and is now offering more at a 230% markup due to overwhelming demand. Launched in September, the platform initially planned to sell 20% of its total 100 billion. However, the project is now offering an additional 5 billion for sale at 5 cents each. The official announcement from the project notes:
“We’ve completed our mission and sold 20% of our token supply! Due to massive demand and overwhelming interest, we’ve decided to open up an additional block of 5% of token supply”.
Tron founder Justin Sun took this opportunity with TRON DAO boosting its investment in World Liberty Financial by adding an additional $45 million. With this new injection, TRON DAO’s total investments in the DeFi venture now reach $75 million.
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.
In an effort to uplift market sentiment, Coinbase CEO recently announced plans to offer ‘tier 1 support’ to Solana following transaction glitches on the crypto trading platform. Notably, the exchange’s CEO, Brian Armstrong, revealed that the transaction glitch on the network was fixed. Further, efforts to prevent such issues ahead were also underway.
As a result, the crypto exchange giant now eyes increased support for the network, mirroring the same level offered to Bitcoin and Ether.
Coinbase CEO Reveals Tier 1 Support Underway
In an X post by Brian Armstrong dated January 22, the Coinbase CEO revealed that the crypto exchange is aiming to provide “tier 1 support for Solana, with the same level of support as Bitcoin, Ethereum, and Base.” This statement indicated that after recent withdrawal issues faced by users on the crypto exchange, efforts to prevent such events in the future were in the pipeline.
Notably, Armstrong stated, “It’s clear we need to step up our game on Solana, scale our infrastructure, and provide native support for common use cases like DEX/memecoin trading.” Although, the CEO’s statements underscored that although the crypto trading platform is currently unable to tackle the surge in activity, a positive outlook for users lies ahead.
SOL Transaction Glitch Fixed: Coinbase CEO
Meanwhile, the Coinbase CEO has also revealed that the exchange has “the Solana backlog triaged, and transactions should generate quickly again.” This statement comes against the backdrop of a SOL withdrawal halt, wherein leading crypto exchanges Coinbase and Binance halted withdrawals for the crypto amid high withdrawal volumes.
In turn, some traders remain unhappy due to the loss incurred amid the network glitch, whilst others look to withdraw funds as the issue is fixed amid a broader crypto market recovery.
SOL Price Surges Over 7%
As of press time, SOL price pumped nearly 7.5% intraday and is sitting at $257.48. The coin’s 24-hour low and high were $236.36 and $259.83, respectively. Intriguingly, the crypto’s rising trajectory in tandem with the transaction trouble fix, as revealed by the Coinbase CEO, has ignited significant investor enthusiasm. Moreover, the current pump also mirrors the broader crypto market trend, as mentioned above.
Also, it’s worth mentioning that the Solana network saw a huge surge in activity amid the meme coins TRUMP and MELANIA’s recent launch, a potential reason why withdrawal volumes on Coinbase surged. In light of this activity surge, a recent SOL price analysis by CoinGape revealed that the token may experience significant growth ahead. In turn, crypto market watchers continue to eye the token with bullish long-term prospects amid recent developments.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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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