What is driving up the price of Terra Classic (LUNC)?
Since the crypto market is very volatile, there are numerous reasons for the sharp jump in LUNC’s price today. However, one probable reason behind this price rise can be LUNC’s V22 network upgrade.
Recently, the TerraClassic developers kicked off a new network upgrade which once approved will allow investors to immediately take the stakes in LUNC. The version V22 update includes a staking feature to the blockchain which is seen as the highl... moreWhat is driving up the price of Terra Classic (LUNC)?
Since the crypto market is very volatile, there are numerous reasons for the sharp jump in LUNC’s price today. However, one probable reason behind this price rise can be LUNC’s V22 network upgrade.
Recently, the TerraClassic developers kicked off a new network upgrade which once approved will allow investors to immediately take the stakes in LUNC. The version V22 update includes a staking feature to the blockchain which is seen as the highly-needed positive catalyst for the LUNC to break above the extended consolidation. If internet rumours are to be believed, almost 69% of the population voted. If the voting is in favour and gets approval it will give much-needed momentum to the stalled project.
It is to be also noted that last month, Binance, the largest cryptocurrency exchange, said that it would support the network update by temporarily suspending deposits as well as withdrawals until the upgrade was completed. Since this was in line with the desires of the Terra community this could be one reason behind the rise in the price of the token and also the upbeat mood.
