With a reasonable increase in market traction and popularity, Terra Luna Classic ($LUNC) has made it into the top 100 list of coins, marking a significant development in the cryptocurrency field. At the same time, Galaxy Fox ($GFOX), the related cryptocurrency, is approaching its $3 million fundraising goal.
The cryptocurrency community has taken notice of this upsurge, confirming Terra Luna Classic’s standing as a significant participant in the cryptocurrency market. Describing the features of the Galaxy Fox, it has more than 3000 unique NFTs that can be minted on the Galaxy Fox platform.
It can also be sold on different NFT marketplaces including Opensea. The $LUNC community has welcomed the development, as it is in line with their earlier recommendation that the security apparatus should be upgraded.
Galaxy Fox Takes Center Stage, Rise By $2.8 Million
CoinPedia, in it’s recent observation, reported that the success of Galaxy Fox ($GFOX) lies at the core of this spike in cryptocurrencies. In addition to raising more than $2.8 million in trading, Galaxy Fox sold more than half of the tokens offered during the public presale.
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It (CoinPedia) also stated that Galaxy Fox project has successfully drawn notice for its dedication to cutting-edge blockchain technology. While responding to the development, Terra management said the upgrade is essential to protect its chain against any security risks or challenges.
Galaxy Fox is expected to undergo a burning system, which is believed will reduce the amount of Galaxy Fox in circulation. This action is expected to trigger scarcity hence, further increase the price of the token.
CoinMarketCap Name Terra Luna Ranks 89th Biggest Traded Cryptocurrency
The trajectory of Galaxy Fox and Terra Luna Classic, as they carve out a position in the competitive cryptocurrency scene, is closely observed by investors and traders alike. Terra Luna currently ranks #89 on CoinMarketCap’s top-performing cryptocurrencies, with over $700 million in market capitalization.
The progressive increase is linked to the comprehensive security upgrades made on the network. Galaxy Fox had sold 50% of its token during the presale process and raised more than $2.8 million. The company’s presale is presently at its 7th phase, with sales of $0.00198. with the rising demand for the token, the company projects an imminent increase in the price to $0.002178 before it enters its 8th phase.
Terra Luna Price Increase By 10%, Community Comment Security Upgrade
The coin has also witnessed reasonable trading activity after the upgrade was done. The price has increased by nearly 10%, while its trading volume in the last 24 hours has exceeded $50 million. Before the company commenced with the $LUNC, it had experienced a mismatch error that caused some validators to cease interacting with the chain.
The said upgrade was done in two phases: one in December, while the other phase was transitioned into a comprehensive upgrade a few days later. The introduction of Terra with the Ethereum Virtual Machine (EVM) has triggered an increase in the coin’s activities, as well as it’s popularity among it’s community who has given their appreciation.
As of press time and as obtained from the CoinMarketCap platform, the market of Terra Luna is $419,467,242. With a 0.42% decline in price and a trading volume of $29,542,781, Terra Luna is trading at $0.6576, with a total circulating volume of 637,668,836 LUNA.