A series of significant events have occurred throughout the lifespan of
Terra Classic (LUNC) and
Terra Luna. The shocking downfall was heavily tied to the actions of
Do Kwon, the man behind the stablecoin, who is now facing extradition to the US and court trials due to a $40 billion stablecoin collapse. Several settlements have been proposed and actioned, with a notable $200 million settlement with
Galaxy Digital over
LUNA, and a $123 million settlement involving
SEC and
Tai Mo Shan over the collapse of
TerraUSD.
Avalanche Foundation has profited in this chaos by buying back AVAX tokens from Terra's LFG.
Despite the decline, there's a hint of potential for LUNC's recovery in the form of token burning, with burn rates escalating. Considering the recent buying-back,
Terra Luna Classic has experienced strong upward movement which could continue due to factors such as a possible
Tax2Gas upgrade or massive token burn. Still, this is only speculative amidst a sea of uncertainty.
Admittedly, the downfall of
Terra has heightened concerns over algorithmic stablecoins in general, leading to a critical examination of other coins like Sonic's high-yielding algorithmic stablecoin. The chaotic chapter of
Terra and its murky future has become a point of interest among speculative traders, algorithm developers, and even the indie film industry in Korea.
Terra Coin News Analytics from Mon, 20 Jan 2020 02:04:06 GMT to Thu, 29 May 2025 06:47:32 GMT -
Rating -9
- Innovation -7
- Information 8
- Rumor -8
