BitMos is set to introduce Bitcoin BRC-20 support to the Cosmos ecosystem, with an initial focus on Terra Luna Classic. This move has led to speculation about the potential recovery of LUNC prices.
BitMos has unveiled its intention to introduce Bitcoin BRC-20 support to Terra Luna Classic, effectively bridging the gap between Bitcoin and the Cosmos ecosystem.
This endeavor aims to open up new opportunities for DeFi applications and smart contracts, with Terra Luna Classic serving as the initial platform for this expansion. For the LUNC community, this move holds the promise of revitalizing the blockchain’s utility and potential.
Bitcoin Bridge to Terra Luna Classic
On August 14, Vegas, an active member of the Terra Luna Classic community, shared news about a project aiming to create a bridge between Bitcoin’s BRC-20 tokens and LUNC.
Vegas believes this initiative could have a significant positive impact on the value of LUNC and USTC tokens. BitMos, the project behind this effort, later reaffirmed their commitment by sharing Vegas’s post and confirming their intention to develop on the Terra Luna Classic platform.
BitMos aims to bridge the gap between Bitcoin and the Cosmos ecosystem, acting as a layer 2 solution for Bitcoin to address issues related to scalability and interoperability. The project’s initial focus is on bringing Bitcoin liquidity to Terra Luna Classic due to its prominence in the Cosmos ecosystem. LUNC has experienced changes independently, reflecting its decentralized nature aligned with Bitcoin’s vision.
Furthermore, LUNC has restored inter-blockchain communication (IBC) with other Cosmos chains and enhanced security through a parity upgrade. Introducing BRC-20 tokens to Terra Luna Classic holds significant benefits for the community, supporting the revitalization of utility within the chain.
LUNC and USTC Prices Stabilize
For almost a week now, the prices of LUNC and USTC have been relatively stable, showing minimal fluctuations. These prices are following the overall trend of the slower-moving cryptocurrency market.
As of now, the price of LUNC is $0.000078, which has increased by 0.65% over the last 24 hours. During this period, the price ranged from a low of $0.0000773 to a high of $0.0000784. However, there has been a slight decrease in trading volume over the past 24 hours.
On the other hand, the price of USTC has experienced a 0.5% decline in the last 24 hours, currently standing at $0.014. The narrative around the repeg of USTC is gradually diminishing amid prevailing uncertainty.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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