⇓ Terra Coin: A Rollercoaster Journey in the Crypto Market
Terra Coin , dubbed LUNA, has had a rocky period marked by a major lawsuit, the collapse of stablecoins, and unsteadiness in price. Infamous for a...
Recent news revolving around Terra Coin name a series of turbulent events. SEC has charged Jump Crypto, a subsidiary of Terra, causing a shockwave in the market. Tai Mo Shan agreed to settle with SEC over TerraUSD collapse. Despite the fiasco, Terra Luna Classic received backing from Binance which stirred positive sentiments prompting a possible price rally.
However, this was countered by Terra's founder, Do Kwon’s settlement with the SEC following a civil fraud trial. In settlement, TerraForm Labs agreed to pay an almost $4.5B towards the case. TFL has decided to end operations, the Terra community will take over all the operations.
Meanwhile, price predictions indicated a probable surge for Terra Luna Classic after the Tax2Gas Upgrade. This upgrade, combined with the largest LUNC burn in history, signals a potential massive market rally and hopes of reaching $1. Yet, risks related to the vulnerability of the Terra blockchain and the hack leaving a $6.8M loss have toned down the bullish sentiment.
Binance clarified BFUSD isn’t a stablecoin causing Terra flashbacks. Furthermore, uncertainty troubled the market when Terra suffered a huge loss following a vulnerability attack. New York Jury found Do Kwon, Terraform Labs liable for Fraud casting a cloud over Terra coin’s potential.
Terra Coin News Analytics from Thu, 12 May 2022 07:00:00 GMT to Tue, 24 Dec 2024 12:30:12 GMT - Rating -6 - Innovation -3 - Information 4 - Rumor 0
