DFLunc Protocol, a Terra Classic project and ecosystem validator, has burned over 628 million LUNC tokens in less than six weeks, with a sustained rate of tens of millions of LUNC tokens burned daily. This has contributed to the massive burn threshold, with over 379 million Terra Classic burned this month alone.

Terra Classic (LUNC) has experienced a significant increase in value, providing a glimmer of hope during a period of bearish sentiment. The rise is due to increased buying pressure and the announcement of the v2.1.0 upgrade proposal, scheduled for June 14th. This upgrade will bring Terra Classic in line with other blockchains and introduce a range of features and improvements. The surge has also made LUNC one of the top cryptocurrencies in terms of trading volume, with support from reputable entities such as Binance. Finance experts are optimistic about Terra Classic's future.

Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, has experienced a significant surge in value, with a gain of 28.59% in the past 24 hours, attributed to increased buying pressure and community initiatives. This surge has propelled LUNC's market capitalization to $635.9 million, making it one of the top cryptocurrencies in terms of trading volume. The resurgence follows the news of the v2.1.0 upgrade proposal, which aims to align Terra Classic with other blockchains and enhance the platform's reliability and security. Leo Smigel, the visionary behind Analyzing Alpha, presents an optimistic outlook on Terra Classic's future.

The digital currency market is starting the new week on a positive note, with XRP, Lido DAO (LDO), and Terra Classic ($LUNC) showing impressive growth in the past 7 days. XRP has finally broken through the $0.5 resistance level and is currently trading at $0.54, with experts predicting that the outcome of the SEC lawsuit against Ripple Labs Inc. will have a major impact on its future price. Lido DAO's unique offering to compound investors' earnings has made it the dominant Liquid Staking Derivatives platform in the DeFi ecosystem, with its native token LDO experiencing a 13% growth in the past week. Terra Classic (LUNC) has been the best performer of the week, with a 26.24% increase in price to $0.000110, thanks to initiatives such as the implementation of a 1.2% burn tax to revive the token's value.

The Terra Classic community is proposing a signaling proposal to raise LUNC and USTC prices to $1 by reinstating the LUNC burn tax to 1.2%, but it may not succeed based on initial voting and sentiment. Another proposal is seeking to increase the LUNC on-chain tax to 1.5%, with 1.2% for burn tax and 0.3% for the community pool, and is asking for the community's help to persuade crypto exchanges to support the burn tax. LUNC price has risen by 1% in the past 24 hours, currently trading at $0.000085, due to Binance LUNC burn and an increase in sentiment from upcoming changes to the chain.

Edward Kim, a Terra Classic developer and computer science professor at Drexel University, is creating an AI app chain called Block Entropy. The Terra Classic community recently got a glimpse of the app's capabilities, including an AI-generated cat image. Vinh Nguyen, a Vietnam-based developer, showcased the image and touted Block Entropy as the first blockchain-based AI generation engine. The app chain also includes voice generation and AI chat functionalities and will operate on the Terra Classic blockchain. The public testnet for Block Entropy was set to be accessible in mid-May, and the Interchain Accounts module will enable seamless communication with the Terra Classic network once it achieves parity.

The L1 Joint Task Force is making progress towards implementing the Cosmwasm upgrade for the Terra Classic blockchain, bringing it to parity with Luna 2.0 and Cosmos. The upgrade has been delayed from May 31 to June 14 to allow for additional testing.

The official date for the CosmWasm v1.1.0 parity upgrade has been announced by the Joint L1 Task Force (L1TF) of Terra Classic developer group. The upgrade will bring Terra Classic to parity with other blockchains and will enable several features, including allowing projects and builders across Cosmos and Terra Luna 2.0 to build on the Terra Classic chain once again. The upgrade was delayed by two weeks for additional testing. In addition, we have compiled an updated list of crypto Telegram channels for 2023 and the best crypto presale projects to invest in for 2023 to keep you informed on the latest news and trends in the industry. Don't miss out on these valuable resources for crypto investors.

The latest upgrade to the Terra Classic blockchain includes mandatory security updates and a minimum initial deposit for governance proposals. The successful implementation of the v2.0.1 upgrade by the Joint L1 Task Force has resulted in a positive reaction from traders, driving the LUNC price up by 3%. The next major upgrade, the Cosmwasm v1.1.0 upgrade (parity), is scheduled for May 31 and will enable projects and builders on Cosmos and Terra Luna 2.0 to resume development on the Terra Classic chain. The Terra Classic community is also discussing increasing the burn tax to 1.2% and launching a testnet for the AI upgrade called Block Entropy.

KuCoin, a popular cryptocurrency exchange based in Seychelles, has announced its support for the increase of Terra Classic (LUNC) network's burn tax from 0.2% to 0.5%. This decision was made in response to the passing of a proposal seeking the implementation of the increase.