The Terra Luna Classic’s (LUNC) community rejected proposal #12192. This governance proposal focuses on USTD, a stable coin that includes yields at full-scale decentralized and automated power plants on the LUNC blockchain.
The Native Crypto community of Oppressed Layer-1 is looking for a way to restore the original Stablecoin USTC peg to $1, but it continues to be traded for pennies in dollars. Some chain variators, like the Garuda Universe, were on the verge of voting for the new Stablecoin, but the majority said no.
Shortly after this rejection, the associated Altcoin Luna Classic (LUNC) fell 10.3%, hitting the basic support level of the scene for a long time at $0.00005377. On June 23, 2025, this helped this game-tested alternative cryptocurrency reach $0.00007,000, but the levels were not long due to multiple factors.
Older trading volumes lower prices for Luna Classic
First, OKX, one of the world’s leading exchanges by market capitalization, moved to spot services LUNC/USDT and LUNC/USTC/USDT trading pairs three weeks ago. A week later, the popular exchange also decided to remove USTC/USDT & LUNC/USDT contracts on the permanent market.
In particular, this has resulted in an astonishing hit with Terra Luna Classic (LUNC) already loose trading volumes. While on average it averages less than $100 million each day, LUNC trading volumes are barely above $11 million today, hinting at an even more slump. Another concern is that Altcoin is unable to regain the mid-tier Blue Bollinger Band (Boll).
Meanwhile, the decommissioning of OKX and other exchanges that have been discussed, other exchanges that do not want to relist tokens, have a refined representative website in the community-owned L1 blockchain with all the distributed applications (DAPPS) and Web3 games listed in one place, but can place a major obstacle for long-term rebounds.
As this is part of the restoration process of the original chain functionality, the remaining community members view LUNC as a clear long-term investment vehicle with a staking ratio of 15% or more. Anyway, the native ciphers of the Battles card chain struggle to return to the top 100 by market capitalization if fresh utility cases aren’t surfaced.
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People ask:
Rejection of Proposal 12192, potential market speculation on shift holder sentiment.
The failure of Proposal 12192 (probably a significant upgrade) rattled investors, causing a sale.
The dynamics of community decisions and exchanges are shaping the narrative, like Binance’s role.
Pragmatic – Momentum from the proposal can halt growth, but community support can help.
Do a thorough investigation and follow DailyCoin’s LUNC updates – market uncertainty puts it at risk.