Last Updated on December 27, 2022 by Bitfinsider

The crypto market was relieved by the Terra Classic (LUNC) price increase at a time when other coins were going nowhere. The traders are optimistic about the future after this pump at the end of 2022. This follows the most recent cryptocurrency crash caused by the bankruptcy of FTX and the ensuing liquidation problem. Influencers in the meantime attribute the positive action in terms of governance and initiatives to the support of the Terra community.

The “Proposal 11111” was approved by the Terra Classic community with the help of the community. In order to increase funds for the community pool, Proposal 10983 used 50% of the 0.2% burn tax rather than 10% for on-chain development. Influencer Classy claimed that the enormous number of LUNC supporters is increasing the amount of ideas. He said: “The one thing we do have is the sufficient amount of people to think of good ideas to further the Terra Luna Classic blockchain which is one of the big reasons you are seeing so many proposals come up.”

Recently, the price of Terra Classic (LUNC) has been steadily rising. According to a price monitoring platform, the LUNC price is $0.0001817 as of this writing, up 16.52% in the previous 24 hours. Edward Kim, a core developer for Terra Classic, recently updated the community and shared the LUNC project’s goals for the upcoming three months. He stated that achieving chain stability will be the main objective for the first quarter of 2023.