The
Avalanche Foundation is buying back nearly 2M AVAX sold to Terra earlier in 2022, a move that could highly impact the
Terra Luna Classic price. The market is excited about the buyback as
Avalanche is reclaiming $45M in AVAX tokens from Terra, which could lead to Luna Classic reaching the $1 milestone in the future.
Terra Luna Classic investors are anticipating a strong upward movement for
LUNC, a cryptocurrency built by
Terraform Labs. However, Terraform Labs has been hit with a hefty $4.5B fine by the
SEC on charges of
civil fraud. The fine and ongoing difficulties, such as the bankruptcy of Terraform Labs, have led to speculation that the future of LUNC Coin may be in jeopardy. Meanwhile, Terra Luna Classic continues to upgrade and innovate, most notably with the implementation of the
Tax2Gas upgrade, which could see LUNC break out and rally. However, ongoing legal woes and the looming bankruptcy of Terraform Labs are proving to be potent downward forces on the price of LUNC. Interestingly,
Binance has announced their support for the Terra Classic upgrade, potentially bringing more stability to the coin. There has also been a notable uptake in Terra Classic staking, further shifting LUNC dynamics.
Terra Coin News Analytics from Mon, 22 Jan 2024 08:00:00 GMT to Tue, 15 Oct 2024 14:15:16 GMT -
Rating -2
- Innovation 7
- Information -4
- Rumor 3
