LUNC Price Surge: Key Developments Driving Bull Cycle Momentum

The price of LUNC is on a successful run this bull cycle, with a rally of over 30% in a week due to key developments on the Terra Luna Classic chain. The recent v2.4.2 upgrade and the release of Terra co-founder Do Kwon have contributed to this surge in price.

The Terra Luna Classic major chain upgrade v2.4.2 was smoothly implemented, with the introduction of new binary and components. The upgrade includes IBC-Hooks, which will allow the onboarding of dApps on the Terra Luna Classic, notably the Enterprise DAO. The developer team also announced progress on the Terra Classic Security Package upgrade, which will enhance security, functionality, and interoperability.

In addition to the upgrade, the total LUNC burn has surpassed 105 billion tokens, with Binance accounting for over 50% of the total burn. New projects and exchanges are joining the burn campaign to reduce the circulating supply, although the burn rate has dropped slightly as prices have risen.

The number of LUNC wallet holders has also increased, indicating a rise in demand amid the bull market. The account holders have now surpassed 5.51 million, according to Cosmos blockchain explorer ATOMScan.

With LUNC price currently trading at $0.000170, there is speculation that it could reach $1 in the future. The trading volume has slightly dropped in the last 24 hours, but data from CoinGlass show a rise in futures open interests on platforms like Binance and Bybit. This signals a positive sentiment among investors and the possibility of a 1000% jump in price.

Overall, the developments on the Terra Luna Classic chain and the increasing interest from investors suggest that LUNC price could continue to rise in the coming days.