Terraform Labs, responsible for operating
Terra Coins LUNA and LUNC, experienced a series of events shaping their future. While there was a noticeable rally for LUNA and LUNC prices, it wasn't long-lived as Gemini Crypto Exchange announced the delisting of Terra Luna Classic (LUNC). A few predictions for LUNA returning to its all-time high had been drawn, with some pointing to possible recovery in 2024. Amidst these speculations, Terraform Labs decided to cease operations, enabling the Terra community to take over and manage the chain. However, the change wasn't without strains as the ASTRO token took a huge plunge with the halt of Terra's operations. Legal battles ensued, with notable ones including
Do Kwon's civil fraud trial and
SEC fines directed at Terraform Labs. LUNA and LUNC underwent some volatility during this period, influenced by the legal proceedings and the
successful Shuttle Bridge reopening which destroyed some LUNA coins. LUNC attempted a revival with a rewarding proposal for a successful USTC re-peg solution, stirring hope for an improved future. However, trouble persisted for
Terra, with allegations of fraud causing a shaky stance for the project. The final blow came with a lawsuit from Three Arrows Capital, targeting
Terraform Labs after a claim of $1.3B, resulting in the bankruptcy declaration by Terraform. The community's spirits remained strong, however, with excitement and optimism visible in their actions such as support for LUNC payout proposal and
anticipated staging boom. Amidst the turmoil, advancements like an
upgrade for Terra Luna Classic v3.1.3 still took place, providing a glimpse of hope for supporters.
Terra Coin News Analytics from Fri, 13 Oct 2023 07:00:00 GMT to Thu, 22 Aug 2024 02:11:00 GMT -
Rating -8
- Innovation 3
- Information 7
- Rumor -3
