Terra Luna Classic Seeks Stability: New Data Provider and Price Predictions

The Terra Luna Classic (LUNC) community recently passed a proposal to appoint Allnodes as the official provider for circulating supply data. This move aims to improve transparency and potentially influence exchange listings and prices. However, challenges remain.

Allnodes Takes the Helm

Proposal 12103, with 53% approval, tasks Allnodes, a leading validator platform, with managing the official circulating supply endpoint for LUNC and other native tokens. This ensures a centralized source for accurate data, reducing the risk of manipulation.

The proposal also seeks to standardize the circulating supply calculation method. Notably, developer Raider cautions that convincing major exchanges like Binance and data aggregators like CoinMarketCap to adopt this method may be necessary for wider adoption.

LUNC Price Predictions and Market Activity

While the community hopes for a 26% LUNC price surge based on technical analysis, short-term volatility is likely. CoinGape Markets highlights a potential breakout from a price pattern that could trigger the rally. However, support levels need to hold to avoid further declines.

Despite sideways trading currently, LUNC staking activity and ongoing development fuel optimism for a price increase above $0.0002 again. Additionally, a slight uptick in trading volume suggests renewed buying interest.

USTC Remains Subdued

Unlike LUNC, USTC, the algorithmic stablecoin of the Terra Luna Classic ecosystem, trades sideways with low volume. This lack of buying pressure keeps the price around $0.02, far from its intended peg to the US dollar.

Looking Ahead

The Terra Luna Classic community’s efforts to improve data transparency are a positive step. However, convincing major players like Binance and CoinMarketCap to adopt the new system remains a hurdle. Continued development and community engagement will be crucial for LUNC’s long-term price trajectory.

By Alex Wheeler

Alex is a lead writer at AltcoinsAnalysis, bringing the audience all leading developments in the blockchain industry and the latest trends in the cryptocurrency market.