Multiple recent reports assert that
Terra Luna, along with its counterpart Terra Luna Classic (LUNC), is undergoing a multitude of changes, ranging from regulatory issues to major revisions. Remarkably,
Do Kwon, the co-founder of Terra, faces extradition to the U.S following the significant collapse of Terra Luna, which was marked as being the biggest crypto scam in history, losing $40 billion in a single day. The
SEC is pressing charges against subsidiary
Jump Crypto for a $123 million fine for manipulating Terra Luna UST peg. Amidst this turmoil, mass burnings of
LUNC tokens are underway, in an attempt to trigger a price surge. Luna 2.0, while rumored to hit $1 in 2025, currently sends mixed signals due to ongoing token burns and potential upgrades. The
South Korean market, however, seems to be rallying against the odds, leaving Terra Luna behind in its wake.
Universal Orlando's new resort named after the crypto,
Terra Luna Resort, was anticipated for a grand opening but has been pushed back to March 2025.
Terraform Labs, associated with Terra Luna Classic, has set an October 30 deadline for Terra Classic users with a monumental LUNC burn drawing near to an SEC-imposed deadline.
Montenegrin PM was reported as one among the early investors of LUNA. It is also important to note that
Binance has performed additional burns of Terra Luna Classic, whereas the price analysis of LUNA for 2024 remains uncertain with strong upward movement predicted for LUNC.
Terra Luna News Analytics from Fri, 08 Mar 2024 08:00:00 GMT to Wed, 01 Jan 2025 12:15:54 GMT -
Rating -8
- Innovation 3
- Information 5
- Rumor -2
