Proposed Reforms Potentially Revitalizing Terra Classic

Community Push for Terra Classic Revival

The Terra Classic community is actively participating in voting for proposals that could mark a significant turnaround for the cryptocurrency's ecosystem. One of the main changes includes a reduction in maximum block size, receiving overwhelming support with 99.88% approval. Meanwhile, a controversial suggestion to increase gas fees tenfold has the community divided, yet it still leans towards passing with 59.99% votes in favor.

Impact on LUNC Token

These proposals have led to a noticeable rise in LUNC's value, with a 10% increase noted in a single day, coupled with an impressive 500% hike in trading volume. Despite these gains, some metrics such as development activity and social volume have shown bearish signs, aligning with LUNC's overall monthly price decline.

Market Response to Proposals

The dual reaction to the new proposals showcases the dynamic nature of community governance in crypto ecosystems. With the final results imminent, the market awaits the full impact these changes will have on Terra Classic's future and LUNC’s market performance.