The crypto market is reeling under US financial regulators’ regulatory action. However, TerraClassicUSD and Terra Classic (LUNC), prices are showing strength as the blockchain upgrade v1.0.5 almost here. It will make it easier to estimate transaction fees (gas, burn tax) and plan for future chain upgrades. It also brings back the Binance LUNC burning mechanism.
Terra Classic Community passes key proposals
The Terra Classic community also passed Proposal 11322, “Raise Validator Minimum Commission Fees to 5%”. The proposal proposes to raise the minimum commission fee for Terra Classic validators from 0% to 5.5%. It received 49.07% support votes, 17.56% “abstain”, and 23.70% “No” votes.

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Although the proposal was initially opposed by some, the community eventually supported it due to the high costs of running a validator. The proposal was supported because it reduces the influence of large validators like Allnodes in the community, prevents centralization risks and supports new and smaller validators who are facing financial constraints.
Users prefer no-commission validators (0%). The minimum fee of 5% is required for all active setups. This will encourage re-delegations and equal voting power across the entire validator spectrum.
Terra Classic influencer ClassyCrypto plans on using the Classy’s Sphere validator commissions to fund utility on the chain as well as an emergency fund to pay off his validator.
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Prices of USTC and LUNC Soar

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The USTC price has jumped over 15% in the past 24 hours due to rising confidence regarding repeg under Proposal 11324, “Ziggy: UST (Signal).” It currently trades at $0.03048.
LUNC prices are currently trading at $0.0001711, an increase of 4% over the previous 24 hours. The 24-hour lows and highs are $0.0001593 (lowest and highest respectively) The trading volume has increased nearly 200% over the last 24 hours, which indicates an increase in traders’ interest.
Also read: Bitcoin Whale Txs Rises 3 Months Ahead of US CPI Inflation Data. What’s Next?

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