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.
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XRP trading volumes have doubled in the past 24 hours. Although the price action has not reacted as expected yet, something could be brewing as bulls could be accumulating tokens at these low prices in anticipation of the token’s next leg up. Yesterday, the market reacted quite positively to the approval of the first Solana […]
With the U.S. Securities and Exchange Commission (SEC) already greenlighting spot Bitcoin and Ethereum ETFs, attention is now turning to the next wave of crypto-backed exchange-traded funds.
As crypto markets navigate another week of volatility and shifting sentiment, traders are increasingly turning their attention to emerging altcoins and high-momentum tokens.