Terra Classic (LUNC), or
LUNA 1.0, experienced significant turbulence following a guilty plea to fraud by South Korean crypto mogul
Do Kwon, associated with a
stunning $40 billion stablecoin collapse. Kwon was extradited to the US to answer for these charges, which followed a sharp decline in LUNC and LUNA prices. Despite this catastrophe, many investors seem to have maintained faith, and the market shows some signs of recovery.
LUNCPrice had been predicted to surge by 200% or even 350% in some scenarios. Suggestions have been made that the tokens' proposed burns could save Terra Luna Classic from further price downswings. Other optimistic forecasts suggest LUNC could eventually hit $1. However, skepticism remains, with some comparing LUNC to a meme coin.
Regardless, Terra Labs proceeded to open a loss claims portal in late March. There were also reports of a significant LUNC burn. Considered a result of this multi-level crisis, Ether's 20% plummet shattered the bull market trendline established post-Terra collapse.
In the context of this turbulent period, a new documentary titled ‘Crypto Man’, inspired by the disgraced Terra founder Do Kwon, is set to hit screens, building further anticipation around Terra's future.
Despite the commotion, developers appear committed to cultivating the Terra platform, which culminated in the launch of Terra Luna 2.0. Meanwhile, LUNC continues its journey on Binance and CoinGecko adds Terra Luna Classic’s new DeFi site, signaling support for the embattled token.
Terra Coin News Analytics from Mon, 20 Jan 2020 02:04:06 GMT to Wed, 03 Sep 2025 12:13:00 GMT -
Rating -3
- Innovation 5
- Information 7
- Rumor -4
