The version of Terra Classic (LUNC) that was originally known as LUNA is undergoing an upgrade from v1.0.4 to v1.0.5. News on February 6 that Binance will support the network upgrade would offer Terra Classic has fueled an optimistic narrative among investors of LUNC.
Seemingly investors are bullish on the digital asset, with the crypto community over at CoinMarketCap has set the median price of LUNC to amount to $0.0002034 on February 28, 2023, the result aggregated from 1,253 votes cast by the website members by press time, according to the data retrieved by Finbold on February 7.
The estimate would mean an increase of +11.35% or +$0.00002073 to the price of LUNC at the time of publication. PricePredictions’ machine learning algorithm, in particular, predicts that LUNC will trade at $0.000172 on February 28, a slight decline from the community forecast.
LUNC price analysis
LUNC is currently trading at $0.0001834, down 0.45% in the last 24 hours and up 6.53% across the previous week, with a total market cap slightly above $1 billion.
Developers working on Terra Classic advocated for upgrading the version of the LUNC blockchain currently in use, from v1.0.4 to v1.0.5. This is a proposal for a state-breaking software upgrade to be implemented on the Terra Classic blockchain.
The upgrade will allow validators and full nodes to transition to the new protocol at their own leisure up until the state-breaking change occurs at block 11,543,150, which is expected to take place on February 14, 2023.
According to the developers, this is a quick and easy patch for the Terra Station wallet. This piece of code is programmed to activate at block 11,543,150, and once it does, it initializes the version map. This paves the way for subsequent upgrades to make use of the appropriate upgrade methods.
The most recent events that have taken place inside the Terra ecosystem have given holders of LUNC fuel for a positive narrative.
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