Terra Classic (LUNC) has been experiencing increases in its value as anticipation grows for a major upgrade that would bring technological parity with LUNA 2.0. The L1 Joint Task Force, the Terra Classic core developer group, has upgraded its rebel-2 testnet to version 2.0.0 with Cosmos SDK v0.45 to enhance functionality and support the transition of the Terra Classic mainnet upgrade. The blockchain developer team's project manager, LuncBurnArmy, has submitted a proposal for the Terra Classic core mainnet upgrade to version 2.0.0, which is set to go live on May 17 and would allow building decentralized applications on the LUNC blockchain. The current price of Terra Classic stands at $0.00009014, showing signs of a possible retaking of the psychologically important $0.0001 level.

Bitcoin miners have received a boost in profits after the scheduled difficulty level adjustment resulted in a positive balance, which is the first time since February that the difficulty has decreased.

Terraport, the first decentralized finance exchange developed on the Terra Classic layer-2 network, may be revived as the project promises to return stolen LUNC funds secured off-chain. The hack resulted in the theft of about 15.1 billion LUNC, causing the promising DeFi project to halt operations. TerraCVita, the independent group of developers who developed the layer-2 project, submitted that Terraport would be back up, with recovery of stolen funds playing a major role. Top exchanges including Binance, KuCoin, MEXC, Gate.io, and Simpleswap have frozen funds moved out of Terraport liquidity pools by the hacker. Simpleswap is the first exchange to assure the return of all tokens it froze, with 55% of the hacked funds frozen. TerraCVita thanked Simpleswap and stated that the news could help clear the negative energy in the project community. Binance noted that none of the stolen tokens were moved to its exchange.

the LUNA network, which is part of the LUNA ecosystem, has upgraded its testnet to version 2.0.0. The upgrade includes a range of new features and improvements, including enhanced security and performance, as well as new tools and resources for developers.

Despite Binance’s latest monthly burn of over $150,000 worth of LUNC tokens and the recent hiring of a new, highly experienced Senior Cosmos developer to the layer-1 blockchain task force team, Luna Classic (LUNC) is threatening a breakout to fresh nine-month lows.

The latest Terra Classic (LUNC) burn from Binance demonstrates the exchange’s commitment to the initiative and represents its burn for fees collected in April.

Binance, the world's largest crypto exchange, has burned 1.27 billion Terra Luna Classic (LUNC) tokens in the ninth batch of the monthly LUNC burn mechanism. The burn reduced the LUNC circulating supply and brought Binance's total burned LUNC tokens to 31.83 billion. However, traders did not immediately respond to the latest burn.

LUNC, the native crypto token of the Terra Classic blockchain, could rally as the USTC re-peg proposal passes governance voting. A prominent community member submitted the proposal in a bid to re-peg TerraClassicUSD (USTC) to the dollar, suggesting two approaches including an algorithm peg divergence fee protocol and a LUNC buyback mechanism.

Terra Classic community members are mulling a revival of the ecosystem’s failed terraUSD classic (USTC) nearly a year after Terra’s spectacular implosion.

Proposal 11487, a signal proposal that seeks to repeg TerraClassicUSD (USTC) in the long run by using a divergence protocol and buyback mechanism is still up for voting on the Terra Station. Voting on the proposal which also addresses issues regarding USTC unidirectional swaps and staking will end on April 29. 

The Terra Classic team is seeking to save on-chain funds that have yet to be moved to secondary marketplaces by the hackers who stole over 15.1 billion LUNC from the Terraport layer-2 DeFi project.

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TerraCVita disclosed that the Certik audit is now underway and the team plans to relaunch Terraport to help rebuild the Terra Classic chain.

The Terra Classic Joint Layer-1 Task Force has been officially funded from the community spend pool for the second quarter of 2023. The proposal, which was submitted by the Terra Classic Layer-1 development team, passed governance voting with 55.53% Yes votes. The Task Force requested $124k from the project community pool to carry out all-around developments in the Terra Classic ecosystem including necessary network upgrades.

Terra Classic (LUNC), the renamed native token of the Terra blockchain that dramatically imploded last year, is not a security, a Korean court has ruled.

Luna Classic (LUNC), the native token of the Terra blockchain, has been declared a non-security crypto by a South Korean District Court. This ruling comes as a surprise to prosecutors who charged Terraform Labs' co-founder for violating the Capital Market Act. The court rejected the prosecution's claims around LUNA and dismissed the state's appeal to confiscate Hyun-Seong Shin, Terraform Labs' former co-CEO. The court stated that it is difficult to classify Luna (now LUNC) as a financial investment product that can be regulated by the Capital Markets Act.

A proposal has been submitted by senior member Rex "Rexyz" Harrison of TerraCVita to lock up an estimated $2 million of the funds stolen from the Terraport hack by implementing an emergency code upgrade to the Terra Classic (LUNC) chain. The proposal aims to prevent the perpetrators from moving the funds from the blockchain, potentially preventing the assets from being lost completely if taken off the chain. If the proposal is approved, TerraCVita plans to submit a follow-up proposal to explore options for reimbursing the affected users. However, the Terra Classic community has responded negatively to the proposal, with the majority of votes going to "No with Veto." Some members argue that a private group's mistake should not be fixed by calling on the broader Terra Classic community, while others maintain that it is crucial to guarantee that affected individuals receive their stolen funds, regardless of who is to blame for the event.

Validator Allnodes favors the controversial Proposal 11479 by the Terra Rebels developer group, while the Terra Classic community remains divided on providing funds for the Rebel Station. The community believes Terra Rebels mismanaged funds provided earlier for the Rebel Station and caused FUD that caused LUNC price to fall massively.

The Terraport hack, which resulted in the theft of over 15.1 billion LUNC tokens from liquidity pools on the Terra Classic layer-2 DeFi project, was not a hack but an orchestrated, long-term infiltration by an individual using a fake identity, according to a recent statement by TerraCVita, the independent LUNC development team and creator of Terraport. Investigations by Binance's security team and law enforcement have linked the attacker to a known criminal organization responsible for many other attacks in the crypto space. The team noted that 55% of all stolen funds have been frozen, and all of Terraport's code is under audit by CertiK to prevent similar incidents in the future.

Terra Luna Classic price shows a breakout pattern in lower timeframes as the price successfully held above the $0.00012 key support level. While the LUNC price is currently trading up 2% at $0.000126 in the last 24 hours, a move above $0.00013 is likely if the price breaks above the local support level at $0.000128.