Terra Classic Price (LUNC) Drops Amid Crypto Asset Selloff, Developers Propose Dynamic Minimum Commissions for Validators

The Terra Classic Price (LUNC) experienced a significant drop during the August 2023 crypto asset selloff, leading to a reduction in its market cap by $100 million to $360 million. To protect the Terra Luna Classic network from potential vulnerabilities, developers have proposed implementing dynamic minimum commissions for validators.

LUNC supporter Blastoise suggests that the current support level for the token with the USDT pairing is around $0.000055, and a price break below this level could signal a continuation of the downtrend. The upcoming US Federal Reserve FOMC meeting in September 2023 could also impact Terra Classic's performance due to potential market volatility.

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