Wrapped LUNA Classic (WLUNC) has experienced a significant price surge following the reopening of Terra Classic‘s Shuttle Bridge. The bridge, which allows users to transfer their LUNC and USTC assets from networks like Ethereum, BNB Chain, and Harmony back to Terra Classic, has reignited interest in the project.
WLUNC Price Soars
The reopening of the Shuttle Bridge has sparked a 29.99% increase in the price of WLUNC, reaching $0.00008246. This surge has been accompanied by a 28.94% increase in the market capitalization of WLUNC, indicating growing investor confidence.
Trading Volume Skyrockets
The trading volume for WLUNC has also witnessed a substantial uptick, rising by 237.75% to $173,906.22. This surge in trading activity suggests increased interest from both retail and institutional investors.
LUNC Price Remains Relatively Stable
While WLUNC has seen a significant price increase, the price of LUNC itself has experienced a more modest rise. At the time of writing, LUNC has surged by 0.65%. However, the token has broken the $0.00008406 intraday resistance level, suggesting that a further rally may be in the cards.
Limited Redemption Window
The Shuttle Bridge will remain open for a limited time, allowing users to redeem their assets until approximately October 30, 2024. After this date, any assets remaining in the bridge’s contracts will be burned.
Terra Classic’s Governance Proposal
In addition to the reopening of the Shuttle Bridge, Terra Classic has also introduced Proposal 4818. This proposal aims to upgrade Terra’s mainnet to version 2.12.4 and implement a 5% minimum commission rate for validators. The proposal has garnered significant community support, with 98.55% voting in favor.
Conclusion
The reopening of the Shuttle Bridge and the passage of Proposal 4818 are positive developments for Terra Classic. These initiatives are likely to enhance the platform’s liquidity, attract new investors, and contribute to the long-term sustainability of the Terra Classic ecosystem.
