The Terra Luna community has overwhelmingly voted to burn unbacked Axelar assets, aiming to enhance network stability.
The v2.14.0 upgrade, proposed on January 26, received over 202 million votes in favor, ensuring the removal of unsupported Axelar tokens. Following the approval, LUNA rose to $0.3204, with trading volume surging 73% to $39.38 million.
LUNC also gained 4%, with Futures Open Interest rising 3%, signaling strong market confidence.
Meanwhile, Cardano founder Charles Hoskinson expressed interest in Terra Luna Classic (LUNC) after a validator pitch highlighted the network’s USTC revival efforts and Binance-backed burns.
He noted Cardano’s ongoing exploration of algorithmic stablecoins, fueling speculation of a potential partnership.
With the burn set for execution, investors are watching whether these moves will drive long-term growth for LUNA and LUNC.
Binance has officially announced the launch of PlaysOut (PLAY), a new token debuting on Binance Alpha, with trading scheduled to begin on July 31, 2025, at 08:00 UTC.
The Cboe BZX Exchange has submitted a filing with the U.S. Securities and Exchange Commission (SEC) seeking approval for a new exchange-traded fund (ETF) that would track Injective’s native token (INJ).
Bernstein has flagged growing risks in Ethereum’s corporate adoption trend, cautioning that the rise of “ETH treasuries” could reshape the network’s supply and risk dynamics.
Interactive Brokers, one of the world’s largest online brokerage platforms, is exploring the possibility of issuing its own stablecoin, signaling a potential expansion into blockchain-driven financial infrastructure as U.S. crypto regulation begins to ease.