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Terra Luna Classic has hit a new milestone as the number of LUNC and USTC holders hit a new high of 5.5 million. The rate of increase is comparatively low to the post-Terra Luna crisis in 2022, but the number of wallets holding Terra Luna Classic ecosystem tokens continues to rise, primarily due to support
Terra Classic has recently started to recover from losses experienced over the past week, with its price rising by almost 2% in the last 24 hours. However, it has been facing challenges since the beginning of the year, with a decline of 4% since January 1.
As things in the cryptocurrency market are starting to look brighter following an expected correction after a period of exceptional bullishness, Terra Classic (LUNC) is keeping up with the wider sentiment, and finance experts have shared their views regarding LUNC price prediction for the end of 2024.
Crypto euphoria hits a speed bump! Bitcoin's tumble below $70K triggers a domino effect, with altcoins like Terra Classic taking a 32% dip. LUNC trades at $0.00013, marking a wild ride from recent highs! This sudden rejection in LUNC from a “stiff seller congestion zone” indicates that the cryptocurrency may face further downward pressure soon.
The bullish crypto market suddenly turned mundane over the weekend accentuated by Bitcoin price plunge from recent all-time highs above $73,000. Altcoins like Terra Classic could not defy the bearish tension, resulting in significant corrections with LUNC price falling by 30% in a week to trade at $0.00013 on Tuesday.
Terra Classic validator TerraCVita confirmed they have completed the compensation package for Terraport hack victims. The team plans to repay users who suffered from the April 2023 security hack, which led to losses amounting to $4 million. TerraCVita announced its plans for reimbursing the victims last week.
Terra Classic price prediction: LUNC has recently witnessed a notable uptick in its market value, demonstrating a robust bullish trend. In the last few weeks, the cryptocurrency has successfully surpassed multiple resistance levels.
Bankrupt Terraform Labs secures court approval to hire Dentons for legal representation, despite SEC objections.
This action aims to aid the Terra Luna Classic community's efforts in reducing the circulating supply of LUNC tokens and is expected to positively impact the token's value and activity. WEEX Joins LUNC Token Burn Initiative In a recent announcement on the X platform, crypto exchange WEEX expressed its commitment to supporting the Terra Luna Classic community and its efforts to revive LUNC.
The Terra Luna Classic community's token burn campaign to reduce the LUNC circulating supply finds support of another crypto exchange. Singapore-based crypto futures trading platform WEEX announced commitment to burn 30% of LUNC trading fees, similar to Binance burning 50% of trading fees for LUNC burn mechanism.
A court in Montenegro ruled Thursday that Terraform Labs co-founder Do Kwon will be extradited to his native South Korea to face criminal charges regarding the May 2022 multibillion-dollar blow-up of the Terra ecosystem.
Terra Classic price analysis: LUNC price has shown an upward trend in recent weeks, with signs of strong bullish momentum. Over the past year, LUNC's value has surged by over 30%, showcasing growing investor confidence.
In a recent decision that underscores the complexities of navigating legal challenges within the cryptocurrency industry, Terraform Labs has received the green light from a U.S. bankruptcy court to engage the services of the global law firm Dentons. The development comes amid Terraform's ongoing battle with the U.S.
A U.S. court has allowed Terraform Labs to hire law firm Dentons to defend the company in a lawsuit brought against it by the U.S. Securities & Exchange Commission (SEC) in Jan. 2024.
Terra Classic sits between two conflicting yet equally strong factions — the bulls south of the demand area around $0.0001847 and the bears north of the supply zone approximately at $0.000201. Up a mere 0.7% in the last 24 hours, LUNC price hovers at $0.0001921.
The Terra Luna Classic community has given the green light for a significant chain upgrade, with the unanimous approval of the proposal. This upgrade, known as Terra Classic v2.4.2, will introduce IBC-Hooks, paving the way for the integration of decentralized applications (dApps) on the Terra Luna Classic network.
The Terraform Labs and UST crisis triggered a market crash, costing investors billions.
Terra Luna Classic is all set for another major chain upgrade as the community has unanimously approved the proposal, receiving major support from validators. Terra Classic v2.4.2 upgrade to primarily introduce IBC-Hooks that will enable onboarding of dApps on the Terra Luna Classic, with mostly notably Enterprise DAO.
US authorities are seeking to challenge the recent verdict by the Montenegrin high court, which ordered the extradition of Do Kwon to South Korea rather than the United States. US prosecutors want Kwon extradited and to face prosecution for his role in the 2022 collapse of the Terra Luna ecosystem.
The Terra Luna Classic community gave the thumbs up to developer Genuine Labs' proposal for big updates to enhance security, features, and how well it works with other systems. Genuine Labs' upgrade package focuses on making Wasmd, IBC Go, and Cosmos SDK better and more efficient.
The Terra Luna Classic community has approved developer Genuine Labs' proposal for major core updates to boost security, functionality, and interoperability. The security upgrade package from Genuine Labs includes improvements and optimizations to Wasmd, IBC Go, and Cosmos SDK.
In a recent development, a group of South Korean investors affected by the Terra-Luna collapse has voiced their preference for Terraform Labs co-founder Do Kwon's extradition to the United States rather than South Korea. This comes after a Montenegro high court decided to extradite Kwon to South Korea.
South Korea has expressed readiness to take necessary steps in conjunction with Montenegrin authorities to secure Kwon's extradition.
Former Terraform Labs CEO Do Kwon is set to be extradited to South Korea following a ruling from the High Court of Montenegro.
