- According to recent reports, the L1 Task Force group has successfully updated the therebel-2 test net to V.2.0.0
- The Terra Classic’s (LUNC) is still yet to react positively in price, despite the recently recorded fundamental network growth.
According to recent reports, Joint L1 Task Force, a Terra Classic (LUNC) developer group has upgraded therebel-2 test net to a higher version ; Version 2.0.0. Following the new development, Core developers of Terra Classic are planning the Cosmwasm Verson 1.1.0 upgrade (parity) to go live on the 31th of May.
This is a major milestone and achievement for the meteor Terra Classic community, and members have taken to Twitter to express their excitement for the coming weeks. The Cosmwasm upstate is set for the later part of May, so as to allow builders across the Cosmos and Terra Luna 2.0 ecosystem to build on the Terra Classic Chain.
Going forward, the Joint L1 Task Force will focus on running the Cosmos SDK v0.45.11 Columbus-5 mainnet upgrade, which will take place on May 17. Afterwards, Agora proposals for the Version 2.0.0 mainnet upgarde will be published.
Terra Classic’s (LUNC) has hit many fundamentally bullish milestones, but proceed are yet to respond positively
Like many other altcoins, Terra Luna Classic (LUNC) has been struggling to stay afloat, following the re-emerging bloodbath. Although the network has recorded a significant Goethe in fundamental activities, it is still yet to be reflected in the price of Terra Luna Classic (LUNC).
Recently, Binance carried out its monthly token burn, which led to the slashing of LUNC’s existing supply. A staggering $150,000 worth of LUNC tokens were recently burnt. Typically, token burns trigger bullish sentiments amongst market players. However, the move is yet to pay off for LUNC.
Additionally, a new Senior developer was hired to fill up the role of a Senior Cosmos developer. It is also worth noting that the new developer was also part of the original developers of Cosmos SDK and IBC, and has extensive L1 blockchain experience.
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We are excited by this new addition to our team, and are looking forward to bringing the blockchain to parity, to completing Q2, and to any other exciting development opportunities as mandated by the community through governance! (i.e. Q3 and beyond!).
Despite all of these positive developments, LUNC is still positioned to hit lower lows. The asset notably dropped by more than 30 percent over the past weeks. Over the last 24 hours, LUNC has dropped by more than 2 percent. The altcoin lost momentum after hitting a high of $0.0001062, to now trading at a press time price of $0.0001033. Should the bulls reclaim power, market players are likely to benefit from the move, as LUNC could attempt to correct existing losses in the near-term.
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