By Shikha Singh
Binance Backs Terra Luna Classic Major v3.3.0 Upgrade.
Binance has announced support for the Terra Luna Classic (LUNC) network’s v3.3.0 upgrade, scheduled for December 17 at a certain block height. This upgrade aims to simplify tax handling and enhance utility, attracting developers and projects to the network.
To facilitate the upgrade, Binance will temporarily suspend LUNC token deposits and withdrawals on the network. However, trading LUNC tokens will continue uninterrupted. Other major exchanges, including Bybit and OKX, have also pledged support for the upgrade.
SEC Serves NFT Project CyberKongz With Wells Notice Citing Securities Violations.
CyberKongz, a prominent NFT gaming project, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC).
This notice indicates that the SEC is considering enforcement action against the project, focusing on its integration of an ERC-20 token with its blockchain game.
The SEC’s Division of Enforcement has expressed concerns that such a setup may require registration for security.
In response, CyberKongz has expressed disappointment with the SEC’s approach, highlighting a perceived lack of understanding of blockchain technologies. The project plans to challenge the SEC’s stance, emphasizing the potential implications for the broader Web3 gaming and NFT sectors.
Thorchain (RUNE) Price Jumps 12% As Analyst Projects 125% Rally.
Thorchain’s (RUNE) price has surged 12% to $7.08, with a 142% increase in 24-hour trading volume to $583.99 million.
Analysts predict a potential 125% rise to $15.75, citing strong bullish momentum and key technical indicators.
Market capitalization has risen by 12.02% to $2.39 billion, and open interest in RUNE futures has increased by 16.19% to $114.97 million, reflecting growing investor optimism.
CRV Price Rally Ahead As Curve Finance Founder Does $1.2 mn Buyback.
Curve Finance founder Michael Egorov has recently purchased approximately 1.08 million CRV tokens, valued at around $1.2 million, at an average price of $1.114. This marks his first significant CRV buyback since a liquidation event on June 13, signaling renewed confidence in the token.
The CRV price has been consolidating at $1.10 over the past week, following a 200% gain in the last month. Market analysts suggest that Egorov’s recent purchase could act as a catalyst for a potential rally, with some speculating a rise to $2 or higher.
Ethena Price Jumps 4.54% as USDe Market Cap Hits $6 bn.
Ethena’s native token, ENA, has experienced a notable 4.54% increase over the past 24 hours, reaching a price of $1.22 and elevating its market capitalization to approximately $3.57 billion.
This surge coincides with the synthetic dollar, USDe, approaching a market capitalization of $6 billion, marking a 140% increase since October.
Despite this growth, USDe currently holds a 2.83% share of the stablecoin market, trailing behind leaders like USDC and USDT.
Built on the Ethereum network, Ethena provides a crypto-native alternative to traditional banking infrastructure with its synthetic dollar, USDe.
Avalanche9000 Upgrade Goes Live on Mainnet.
The Avalanche9000 upgrade, now live on the Avalanche mainnet, significantly reduces deployment costs for decentralized applications (DApps), making it 99.9% cheaper to deploy a Layer-1 blockchain.
Validators also benefit, as they no longer need to validate the primary network for specific subnets, cutting operational costs and hardware requirements.
Additionally, Avalanche’s C-chain now has a lower base transaction fee, improving cost efficiency.
With over 500 projects in progress, these changes should accelerate the development of new L1 blockchains. Avalanche also secured $250 million in funding from major investors.
Following the upgrade, AVAX, the native token, saw a 3.72% increase, nearing $50, positioning Avalanche as a more scalable and developer-friendly platform.
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