BitMos plans to bring Bitcoin BRC-20 support to Terra Luna Classic. The project will bridge the gap between Bitcoin and the Cosmos ecosystem to unlock new frontiers for DeFi applications and smart contracts, starting with Terra Luna Classic. This will be a major push for the LUNC community seeking to bring utility back to the blockchain.
Bitcoin Bridge To Terra Luna Classic
Vegas, a popular member of the Terra Luna Classic community, on August 14 said a project seeks to bridge over BRC-20 from Bitcoin to LUNC. He believes it will be a game changer for LUNC and USTC. BitMos also reposted Vegas’s post, confirming its plan to build on Terra Classic.
BitMos bridges the gap between Bitcoin and the Cosmos ecosystem and functions as a layer 2 solution for Bitcoin addressing scalability and interoperability challenges.
It will first bring Bitcoin liquidity on Terra Luna Classic as it brings the most liquidity to the Cosmos ecosystem. Also, LUNC has undergone a transition, without any influence from venture capital. The project’s team believes it is the fundamental feature of decentralization that Bitcoin envisioned.
Moreover, LUNC has reopened inter-blockchain communication (IBC) with other Cosmos chains and the parity upgrade increased security and transactions flow. Bringing BRC-20 tokens into Terra Luna Classic is a major advantage for the community that seeks to bring utility back to the chain.
LUNC and USTC Trading Sideways
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LUNC and USTC prices are mostly trading sideways for almost a week. The prices are moving in line with the sluggish broader crypto market.
LUNC price currently trades at $0.000078, up o.65% in the past 24 hours. The 24-hour low and high are $0.0000773 and $0.0000784, respectively. However, the trading volume has decreased slightly in the past 24 hours.
Meanwhile, USTC price fell o.5% in the past 24 hours, with the price currently trading at $0.014. The USTC repeg narrative is slowly fading amid uncertainty.