Terra Luna Classic, a stable coin project associated with
Do Kwon, experienced a severe downfall. The collapse allegedly led to a
$40 billion loss, resulting in Kwon facing multiple charges and subsequently pleading guilty. This system shock then paved the way for the project's scaled upgrade into
Terra Luna 2.0. The
SEC imposed a
$123 million settlement on the firm linked to the Terra and Luna downfall. Despite challenges and past failures, Terra Luna Classic has shown potential to bounce back, as indicated by the
burning of LUNC tokens, predominantly by famous cryptocurrency platform,
Binance. Notably, forecasts suggest the upgraded Terra version might be capable of reaching an
annual growth rate of 5%, pushing
LUNA 2.0 price up to $3.75 by 2030. In an attempt to rectify the financial damages endured by the investors,
Terraform Labs is due to open a loss claims portal by March-end. Besides, a significant
burn of Terra Luna Classic supplies may bolster the likelihood of a classic rebound rally. The impending
Tax2Gas Upgrade, which aims to reinvigorate Terra Luna Classic's economic framework, is viewed optimistically. Interestingly, peripheral events following Terra's downfall created ripples in the crypto market, including the
20% crash of Ethereum. Overall, the community still appears hopeful about a potential resurgence under the newly envisaged Terra Luna 2.0.
Terra Coin News Analytics from Mon, 20 Jan 2020 02:04:06 GMT to Wed, 27 Aug 2025 19:42:00 GMT -
Rating 4
- Innovation -6
- Information 8
- Rumor -6
