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A core security upgrade package has been announced by Terra Luna Classic core developer L1TF to address security issues and other community concerns. The chain's stability and security will increase with the improvement of its essential parts. The news was well received by traders, and within a few hours, the prices of LUNC and USTC skyrocketed.
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Enhancement of Terra Luna Classic Core Security
To address the security issues in Terra Luna Classic, Joint L1 Task Force (L1TF) creator Vinh Nguyen published a "core security upgrade package" in a post on X on January 16. Concerns about the absence of new features derived from Terra Luna Classic's heritage components have been voiced by the community.
Security and stability will increase, he claimed, if essential components are successfully upgraded. Additionally, it will assist in fulfilling the infrastructure need for TFL support.
We are confident that the community will receive top-notch support from us because of our extensive experience in mainnet deployment and maintenance of these essential components. Additionally, we would like to express our gratitude to everyone who assisted us in assessing this package to ensure that it complies with the Pay-per-Job government-approved proposal, said Vinh Nguyen.
It takes the team made up of Vinh, Inon Man, and volunteer Frag eleven weeks to do the improvement. The $51,000 total budget will be maintained in a multisig account by the oversight committee and package members. The Wasm module (wasmd), Wasm Virtual Machine (wasmvm), Cosmos SDK, Comet BFT, IBC-GO, and Mainnet are among the Terra Classic components.
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Rally of LUNC and USTC Prices
Following the news, there was a notable increase in the price of USTC and Terra Luna Classic (LUNC). It's possible that the traders are readjusting their positions in light of recent events.
In the past day, the price of LUNC has increased by more than 5%, and it is now trading at $0.000126. $0.000118 is the 24-hour high, while $0.000127 is the 24-hour low. Additionally, there has been a 65% spike in trading volume over the past 24 hours, suggesting that traders are becoming more interested.
On the strength of a sharp 230% increase in trading volume, the price of USTC also increased following the news. Right now, the price is trading at $0.030, up more than 12% during the previous day. $0.0268 is the 24-hour high, while $0.0318 is the 24-hour low.