⇑ **Terra Luna Classic (LUNC) Prepares for Major Market Rally Amid Turbulence**
The **cryptocurrency market**, specifically relating to **Terra Luna Classic (LUNC)**, has been undergoing significant events and fluctuations....
In the latest Terra Luna development, the project has been drawn into legal troubles due to a tussle with 3AC liquidators after an alleged market crash in 2022. The liquidators are asking for a staggering $1.3 billion from Terraform Labs to compensate for the Luna crash. This comes amidst price speculation and analysis, including the chances of the variant coin, Terra Luna Classic (LUNC) hitting the $1 mark again.
These recent events have caused eToro to delist Terra Luna Classic, invoking distress in the LUNC community. There has also been talk of increase in the existing burn tax to catalyze LUNC's recovery. However, Terraform Labs, run by Do Kwon, appears ready to settle the fraud case with SEC with an estimation around $4.5 billion.
On the technical side, Terra Luna Classic is undergoing major updates including the Tax2Gas upgrade looking to enhance LUNC burns. The community also voted strongly for burn tax distribution revision. Nonetheless, SEC's substantial fine has stirred a dip in LUNC's price, calling for a possible recovery phase. Meanwhile, Binance has executed an enormous burn of LUNC tokens.
As per another report, the Prime Minister of Montenegro was revealed as an early investor in Terra (LUNA). The same report alleges that Do Kwon planned an escape to Montenegro before the Terra Luna crash. Besides, Universal Orlando Resort is slated to reveal more information about its two newest hotels named Universal Stella Nova Resort and Universal Terra Luna Resort.
Terra Luna News Analytics from Wed, 20 Mar 2024 07:00:00 GMT to Wed, 14 Aug 2024 22:34:03 GMT - Rating -3 - Innovation 2 - Information 5 - Rumor 4
