Terra Luna Classic (LUNC) and its sister currency,
USTC, have seen significant growth, with both experiencing a 10% price jump attributed to a large
burn conducted by Binance. However, the coin seemed to experience a tumultuous journey, with losses and hacks marked in its past. Terraform Labs, the entity behind Terra Classics, ran into trouble with the law resulting in a massive $4.5 billion settlement with the SEC. This debacle led to Terraform Labs ending operations and declaring
bankruptcy, leaving the
Terra community to take over. The decline of Terra Labs was a significant chapter in the Terra coin's journey, with its
CEO Do Kwon facing civil fraud trials and Terraform Labs agreeing to a hefty penalty. A series of
proposals, upgrades, and burns have since been carried out, causing a fluctuation in the price of LUNC. Despite these developments, Terra has continued to forge ahead, devising a recovery timeline for LUNC and USTC. In the wake of these events, Terra Luna Classic has been on a steady path towards recovery with indications for future growth prospects and
price rallies.
Terra Coin News Analytics from Thu, 28 Dec 2023 08:00:00 GMT to Tue, 01 Oct 2024 21:26:36 GMT -
Rating -3
- Innovation 5
- Information 8
- Rumor -7
