- The Terra Luna Classic (LUNC) v3.3.0 update focuses on improving tax mechanisms, increasing network efficiency, and encouraging developers to create decentralized applications (dApps) on the platform.
- It aligns with community efforts to revitalize Terra Luna Classic by improving ease of use, supporting USTC repeginitatives, and accelerating LUNC token burns.
Binance, the world’s leading cryptocurrency exchange, recently announced that it will support the Terra Luna Classic (LUNC) network update scheduled for December 17, v3.3.0. According to StakeBin, the hard fork will occur at block height 21163600 at approximately 2:02 p.m. UTC.
Terra Luna Classic Major Update Preview
Version 3.3.0 is a monumental milestone for Terra Luna Classic and provides insight into how the channel’s usability is improved for developers and affected projects, according to CNF. This iteration mainly concerns improvements to the tax mechanisms and the general functioning of the platform.
Binance has made an official statement saying that the exchange fully supports the Terra Luna Classic v3.3.0 update. It will temporarily halt deposits and withdrawals on the network, but LUNC token trading will not be affected during this process.
“Binance will take care of all technical requirements involving all users,” the exchange assured in its press release. The exchange will ensure a seamless transition for its users. Meanwhile, other cryptocurrencies, such as Bybit and OKX, have also announced support for the v3.3.0 update.
Additionally, it is worth noting that Binance has also actively contributed to network revitalization efforts in Terra Luna Classic. For example, Binance participates in monthly LUNC burning initiatives aimed at reducing token bloat. To date, the community has burned a total of 393.87 billion LUNC tokens, including 68.39 billion for Binance.
The v3.3.0 update includes a number of features aimed at facilitating operations and improving network performance. The update will simplify the tax processing process, automatically deducting taxes from transactions before sending them to the recipient’s wallet.
This update is expected to improve network efficiency and attract more developers interested in building decentralized applications (dApps) on the platform. Community efforts to revitalize Terra Luna Classic focus on key areas such as improving ease of use, supporting the USTC rope, and accelerating the LUNC burn initiative.
Evolution of LUNC and USTC prices
The price of Terra Luna Classic has fluctuated slightly in recent days. Recently, the price of LUNC lost more than 2%. However, the LUNC token saw a significant rise as it managed to rise by 1.71%, reaching $0.0001309 today with a 24-hour range of $0.0001286 to $0.0001345.
Trading volume for LUNC also increased by 12.09% to $64.2 million, showing increased interest among traders as the upgrade is underway, according to the CNF report. Market analysts are therefore still very interested in the long-term future of the LUNC price. They are positive about the consistency of the stake and the possibility of an upward price movement in the future.
Meanwhile, USTC price also increased by 1.81%, trading at $0.02311 at the time of writing on December 17, Tuesday. Additionally, USTC’s trading volume increased by 22.33% to $16.4 million during the period, indicating that people are active despite the price decline.
