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The Terra community isn't relenting in its efforts to revive the LUNC and USTC tokens and take them back to their old glory days. This time, the community has proposed a proposal to ensure that the Luna Classic's (LUNC) circulating supply data is well documented.
Coinbase, a leading cryptocurrency exchange, is reportedly considering the relisting of Terra Luna Classic (LUNC), as per recent reports circulating on Crypto X. This development has sparked optimism within the LUNC community, with many anticipating that it could drive the price of LUNC to new highs.
American multinational crypto trading platform Coinbase Global Inc. is reportedly making plans to re-list Terra Luna Classic (LUNC). The news, now circulating on Crypto X, is considered a major bullish update that can push Terra Luna Classic to new highs.
LUNC News: Terra Luna Classic community started voting on a key proposal to bring an official organization to be in charge of hosting the endpoint providing the correct circulating supply data for Terra Luna Classic. Top validator Allnodes will manage the endpoint to protect against single individuals making unauthorized changes to the supply without approval.
Terra Classic Price Forecast: Crypto's 132nd-ranking token has notably recovered over the past few hours after experiencing significant fluctuations within the last few days. At the time of reporting, the LUNC price is trading at $0.0001047, with a 24-hour surge of 1.7%.
Terra Luna Classic ecosystem tokens recorded a massive surge in prices on Saturday as 1.85 billion USTC and 222 million LUNC tokens in the Luna Foundation Guard were removed from the circulating supply. LUNC price skyrocketed over 10% and USTC price rose 18% within a few hours, but pared earlier gains soon.
LUNC price forecast: LUNC price has experienced a significant rise in value over the last day, showcasing a strong bullish momentum. Recent trends indicate sustained buying interest, leading to a noticeable increase.
Terraform ecosystem's sister tokens LUNA and UST collapse was preceded by founder Do Kwon's tweet stating that he is deploying more capital. The tweet did not age well, two years post the crisis, Terraform Labs and founder Do Kwon are faced with $5.3 billion in penalties.
The Terra Luna Classic community saw a major development today as the Terra Classic Wallet gets a much-needed upgrade. The developer informed the community that the upgrade improves functionalities, usability, and other advancements in general.
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Terra Luna Classic community saw massive LUNC burns with wallet-to-wallet transactions on Wednesday, bringing the total daily LUNC burn to over 275 million. The transactions sparked buzz in the community as someone moved billions of LUNC tokens to burn more than 222 million LUNC with burn tax.
With the majority of assets in the cryptocurrency market consolidating, Terra Classic (LUNC) is going with the flow, doing especially poorly on its year-to-date (YTD) chart where it has dipped nearly 25%, but artificial intelligence (AI) algorithms predict a slight recovery for its price by the end of this month.
Lawyers for the commission cited several examples of Do Kwon touting UST to U.S. investors and Terraform's former communications head making false claims about the stablecoin.
TerraClassicUSD (USTC) price has jumped 9% over the last 24 hours, backed by a strong trading volume increase of over 800%. USTC is currently ranked 67 in terms of trading volume, surprising the crypto community due to the sudden boost.
Proposal to limit the quantity of validator nodes was labelled as “lacking teeth”, due to unpunishable action.
LUNC News: Terra Luna Classic community has rejected a crucial proposal on preventing validators from running multiple nodes on the chain. The proposal received some votes in favor from validators, but top validator Allnodes voted “No” citing “No enforceable rules should not be created on permissionless blockchains” as the reason.
Cheered by the Terra Classic community, Binance makes a bold move towards LUNC supply reduction.
LUNC price prediction: Cryptocurrencies turned bearish earlier this week, extending Bitcoin's post-having retracement, and creating mayhem — uncertainty among investors. Terra Classic suffered a big blow, bearing the brunt of the sell-off, which many believed was accentuated by external headwinds like inflation and geopolitical tensions.
In March 2024, Terraform Labs and its co-founder Do Kwon faced accusations of fraud from a New York Jury, along with demands from U.S. regulators to pay a hefty penalty of $5.3 billion.
Lawyers for the firm claimed that any alleged losses caused by the platform's or Do Kwon's actions happened outside the United States, beyond the SEC's authority in the civil case.
Lawyers for Terraform Labs and Do Kwon pushed back against the SEC after the agency requested them to pay billions of dollars in fines.
The Terra Luna Classic network has completed another upgrade, which has further improved the efficiency and robustness of the system. The rebel-2 update runs on terrad-v3.0.1-rc.1 currently.
Do Kwon's lawyers contend the court should not grant any injunctive relief or disgorgement and should impose at most a $1 million civil penalty against Terraform Labs.
Terraform Labs and its founder, Do Kwon, are contesting the SEC's proposed $5.3 billion fine, labeling it unjustified, following allegations of fraud and unregistered token sales.
