Upgrade Details and Timeline
The intrinsic details of proposal #12131 shed light on several crucial advancements for the Terra Classic network. Central to these updates is a security patch for wasmd, addressing previously identified vulnerabilities that posed threats to the network's integrity. Furthermore, augmentations from version 3.1.4 include a gas simulation patch designed to streamline transaction processing. This optimization is anticipated to fortify the network, elevating its reliability and efficiency for users.
Embedded in the proposal is a specific halt height of 19,850,000, projected to occur around September 18th, 11:15 AM UTC. Passing this landmark will trigger the network enhancement to version 3.1.5, setting a new course for Terra Classic's operational dynamics.
Market Reacts Positively to Upgrade news
The announcement related to proposal #12131 has ignited a flurry of market activity surrounding Terra Classic (LUNC). Reacting swiftly, the altcoin's value witnessed a 7.86% increment within 24 hours post-announcement, with its trading price elevating to $0.000083. This uptick in market valuation is complemented by a significant rise in trading volume, standing at $19,811,560, which positions LUNC at rank #114 on CoinMarketCap with a live market cap of $474,343,394.
Despite LUNC's recent downturn, the current market indicators signal a consolidation phase. According to the Moving Average Convergence Divergence (MACD) indicator, a bullish crossover might be on the horizon, suggesting potential upward momentum in the near term. Conversely, the Relative Strength Index (RSI) paints a neutral picture with a reading of 54.94, indicating neither overbought nor oversold conditions.
Investors and enthusiasts are closely monitoring these developments, discerning the potential impact on LUNC's future trajectory. The optimism surrounding the proposed upgrades and market response underscores a period of rejuvenation for Terra Classic, potentially heralding a new chapter of growth and innovation.
As the network braces for the impending upgrade, the community and stakeholders are abuzz with discussions on the prospects of this endeavor. The positive market reaction not only highlights the eagerness for enhanced security and efficiency but also reflects a broader confidence in the value proposition of the Terra Classic network.
However, as we stride into this promising phase, it is essential to emphasize that the information and analysis presented are grounded in current data and projections. These developments, while enticing, carry inherent risks associated with cryptocurrency investments. Market participants are encouraged to tread cautiously, arming themselves with comprehensive research and prudent risk management strategies.
In summary, the Terra Classic network is on the cusp of a significant upgrade that aims to address security vulnerabilities and optimize transaction processing. The market's positive reception to proposal #12131 signals a healthy appetite for the enhancements, despite the need for measured optimism. As we anticipate the successful implementation of the upgrade around September 18th, the crypto community remains watchful of the potential ripple effects on Terra Classic's market position and operational efficacy.
Disclaimer: The information presented in this article is for informational and educational purposes only. This article does not constitute financial advice or advice of any kind. Readers are advised to exercise caution and conduct their due diligence before taking any action related to the content.
