Terra Luna Classic's price has been in a tailspin following a $4.47 Billion Fine imposed by the SEC.
Terraform Labs, the brains behind the coin, has since decided to dissolve, leaving much uncertainty for Luna's future. Despite this, the Terra Luna Classic community remains engaged, voting in favor of new proposals such as implementing a new LUNC Burn Tax, which might potentially drive the price lower, amidst plans for recovery.The community has also approved supporting a LUNC payout proposal with an astounding majority of 99.98%. A major proposal from a core developer has sparked discussions around LUNC's value potentially dipping to $1.
Binance took action by burning 60 billion LUNC tokens despite other reports suggesting a potential 60% rally in Terra Luna Classic's price.Perceptions about
LUNA 2.0 are mixed, despite its significant price correction hours after launch. Most notably, a settlement of the legal issues surrounding
Terraform Labs and its founder Do Kwon could lead to interesting developments in the Terra ecosystem. Kwon is to pay a historic $4.5 billion to SEC – of questionable benefit to victims of the alleged fraud. After the dust settles, it is expected that the Terra community will take over operations. Going forward, the LUNC token could potentially surge. Nevertheless, the Terra-LUNA crash and the SEC investigations might have long-lasting impacts on the community's trust. Many are asking: will LUNA ever recovery since its supply is nearing 7 trillion?
Coinbase is considering relisting Terra Luna Classic. A key upgrade proposal was passed by the community, leading to a brief price jump. Meanwhile, a proposal for a new core team failed. Despite all this, LUNC's price still stands a chance to recover, and the watch continues.
Terra Luna News Analytics from Wed, 13 Sep 2023 07:00:00 GMT to Sun, 16 Jun 2024 15:57:19 GMT -
Rating -6
- Innovation -2
- Information 8
- Rumor -4
