Allgemein

LUNA Falls 4.29% After Terra v2.3.1 Upgrade

• Terra recently upgraded to v2.3.1 with strong support for proposal 4717
• LUNA has been steadily declining since then and development activity is also decreasing
• The upgrade includes the Alliance module, which will facilitate economic alliances among blockchains

LUNA Recently Upgraded To v2.3.1

Terra recently underwent a successful upgrade to v2.3.1, thanks to a strong show of support for proposal 4717. While the Terra community celebrated the milestone on Twitter, on-chain metrics tell a different story.

Declining Development Activity

Development activity for the blockchain has been steadily declining for the past two months, raising concerns about the future of Terra’s growth and adoption. As the blockchain world evolves rapidly, can Terra find a way to reverse this trend?

Bearish Outlook For LUNA

LUNA is currently priced at $1.21 on CoinMarketCap, with a 24-hour trading volume of $38,388,955. Unfortunately, it experienced a 4.29% decrease in value over last 24 hours and has plummeted over 40% on YTD basis according to indicators like RSI and MACD which suggest bearish outlook for LUNA going forward .

Integration Of Alliance Module

The upgrade introduces a host of new features including integration of Alliance module into mainnet which facilitates interchain staking and enabling chains adding assets from other networks or native applications in permissionless way but despite that development activity is still decreasing leading some to worry about future of Terra’s growth and adoption .

Conclusion

The integration of Alliance aims to attract more users , liquidity , developers etc however only time will tell if it will be enough turn around deteriorating situation .