As a seasoned researcher with a penchant for blockchain technology and digital assets, I find myself intrigued by the recent developments surrounding Terra Luna Classic (LUNC). The community’s approval of the Tax2Gas proposal is undeniably a significant step towards enhancing the token’s efficiency and potential attractiveness.
The community backing Terra Luna Classic (LUNC) has endorsed a crucial modification, the Tax2Gas proposal, initiated by Genuine Labs. This proposal, approved by over 65% of validators and delegators, is set to transform the token’s course. By merging tax handling into transaction gas fees, this update aims to boost efficiency and lessen the need for manual calculations, potentially offering a smoother user experience.
In the past, handling tax responsibilities was a laborious manual task, which often resulted in mistakes and inefficiencies. The Tax2Gas update aims to rectify these problems by automating tax computations. This transformation could lead to easier transactions for developers and users, possibly increasing engagement on the Terra Luna Classic network.
The upcoming module is designed to manage gas prices across 22 distinct currencies, ensuring that charges are applied solely to transactions that are successfully completed. Subsequent actions involve thorough testing to verify the module’s efficiency and reliability.
The endorsement of the Tax2Gas plan underscores the dedication of the Terra Luna Classic community towards improving the blockchain’s capabilities and prospects. With the upgrade progressing, it becomes essential to track its influence on LUNC‘s performance and determine if it can foster growth.
Potential Impact on LUNC Price and Market Sentiment
The Tax2Gas update is expected to significantly influence LUNC‘s price and overall market perception. At present, it’s priced at approximately $0.000071. In the last day, its value has risen by 6%. Yet, there’s been a 11% decrease in trading volume, suggesting a cautious market approach. Analysts are optimistic that this upgrade could aid the token in rebounding to $0.0001 and potentially reaching as high as $1 in the future.
Although there’s a sense of optimism surrounding LUNC, the market has encountered difficulties. Its price fluctuations are driven by broader market trends and economic instability. The highest price ever recorded for LUNC was $119.01, but it has since plummeted dramatically, reaching a low of $0.00001651. At present, the overall market outlook is negative, as demonstrated by the Fear & Greed Index, which indicates extreme anxiety among investors.
eToro Delists Terra Luna Classic amid Controversy
As a crypto investor, I’ve been quite vocal about my displeasure with eToro’s decision to part ways with Terra Luna Classic (LUNC) in late July this year. The fact that both LUNA and LUNC tokens have been delisted from their platform comes in the wake of TerraForm Labs’ bankruptcy proceedings, which has sparked concerns about the legal troubles Terra is facing.
Many LUNC holders are dismayed by this action, seeing it as an unfair decision that negatively affects their investments. The issue is intensified by TerraForm Labs’ restructuring and the creation of Terra 2.0, which some claim adds more complexity to the situation. The community persistently demands clear explanations and resolutions from eToro and TerraForm Labs.
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2024-08-09 17:11