The Terra Luna Classic (LUNC) community is witnessing significant developments, including the upcoming Fork Removal Software upgrade, major token burn initiatives, and the growing ecosystem utility. As these changes unfold, the potential impact on the LUNC price and broader market remains a focal point for traders and investors.
Fork Removal Software Upgrade Set for February
The Terra Luna Classic developer group, Orbit Labs, has successfully completed the first phase of its plan to remove fork modules from the blockchain. This upgrade, which will be presented for governance voting next week, is scheduled to take place in February. By aligning Terra Luna Classic with the mainstream Cosmos ecosystem, the upgrade aims to improve security and simplify ongoing maintenance. Key improvements also include a fix for multi-send handling and reverse charge implementations.
Plans for Burning Billions of LUNC and USTC Tokens
Following Terraform Labs’ bankruptcy, the Terra Luna Classic community has ramped up its efforts to reduce the circulating supply of LUNC and USTC tokens. With support from Binance’s burn mechanism, the community has already burned nearly 400 billion LUNC tokens. The next phase involves burning 1.8 billion USTC tokens linked to the Luna Foundation Guard wallets. The proposed burns also include USTC in the Oracle rewards pool and LUNC/USTC in inaccessible wallets. These burns are seen as a way to potentially “repeg” the tokens to their original value.
Utility Expansion on the Terra Luna Classic Network
Recent upgrades to the network, such as the “Upgrade to v3.3.0,” are aimed at boosting utility on Terra Luna Classic, making it easier for developers and decentralized applications (dApps) to integrate. Key projects like Terraport, LBUN, Selenium, Garuda DEX, and TerraCasino are contributing to the growth of the ecosystem. The Selenium Protocol, aligned with Mirror Protocol, plays a significant role in enhancing the network’s decentralized finance (DeFi) capabilities.
Do Kwon’s Ongoing Criminal Trial
Terraform Labs’ co-founder, Do Kwon, has been extradited to the U.S., where he faces charges related to securities fraud, wire fraud, commodities fraud, and money laundering conspiracy. However, Kwon pleaded not guilty to the charges. His trial is unlikely to begin until January 2026, as prosecutors continue their efforts to unlock encrypted devices and translate key communications from Korean to English.
LUNC and USTC Price Performance Amid Market Conditions
LUNC has experienced a 15% drop in price over the past week, currently trading at $0.0001022. It’s showing signs of volatility, with key Fibonacci levels and low trading volume indicating potential for sharp movements in either direction. Analysts suggest that LUNC’s price is heavily influenced by the broader altcoin market and Bitcoin’s dominance.
Meanwhile, USTC has seen a minor uptick of nearly 1%, now trading at $0.0185. However, the token still remains down by over 15% in the past week, with trading volume dropping by 15% over the last 24 hours. The recovery of both LUNC and USTC will largely depend on the broader cryptocurrency market trends, especially movements in Ethereum and Bitcoin.
As the Terra Luna Classic community continues to work on these major developments, the price and future of LUNC and USTC remain closely tied to both internal progress and external market conditions.
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