• The USTC Quant team is negotiating with various crypto exchanges to implement the divergence fee protocol in order to restore the original USTC peg.
• Terra Luna Classic (LUNC) has recently seen a bullish breakout, with an 8.2% weekly increase, but remains 11.8% down monthly at press time.
• The upcoming developments in the USTC repeg negotiations will be crucial in determining how far $LUNC’s rebound rally can go.
USTC Quant Team Negotiating With Crypto Exchanges
The USTC Quant team is in negotiations with crypto exchanges to implement the divergence fee protocol which aims to restore the original USTC peg. Redline Drifter, a member of the USTC Quant team, mentioned that this protocol charges a dynamic fee equal to any difference in price between the peg and market value of $USTC traded below or above one dollar. Binance reported “an issue with matching engine algorithm” which is already being addressed through direct communication between the USTC Quant team and tech support.
Terra Luna Classic (LUNC) Bullish Breakout
Terra Luna Classic (LUNC) has seen a bullish breakout last week, with an 8.2% weekly increase followed by another 4% upsurge within 24 hours. This was likely due to XRP being labeled as a non-security by a prominent U.S judge creating positive market sentiment for $LUNC. At press time, $LUNC trades at $0.00008764 reaching its bi-weekly high even though it’s still 11.8% down monthly overall from its regular trading rate prior to this eventful week for LUNC token holders.
Repeg Negotiations Crucial For Rally Success
It remains unknown how long this bullish divergence will last for Terra Luna Classic (LUNC). However, it’s clear that upcoming developments in the USTC repeg negotiations are crucial in determining how far LUNCs rebound rally can go and if it can sustain its current trajectory beyond this week’s success story for token holders since dropping off significantly over June/July 2023 prior to this much needed boost from XRP news .
Community Urges Binance To Assist Repeg Mission
The Terra Classic community has urged Binance and other major exchanges to assist their mission of restoring stability back into their USD pegged stablecoin , having encountered issues along the way during negotiations on implementing their proposed divergent protocol fees mechanism . Despite some technical challenges being faced , progress is being made thanks for transparency from both sides when discussing solutions via direct lines of communication .
Conclusion
With its sister token picking up on positive sentiment amidst recent events , all eyes are now on successful completion of repeg mission implementation and whether or not Terra Luna Classics (LUNCs) recent success will continue beyond what’s been achieved so far today .