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As of writing this report, Terra Classic (LUNC) is being traded at $0.0001165. This reflects a 16.62% decrease in the last 24 hours, a 21.53% decline over the past week, and a significant 51.04% drop in the last month.
On-chain records show that LUNC is burning fast, but Terra Classic token prices see another pullback.
CoinMarketCap has seen cryptos Bonk, MultiversX, and Terra Classic experience larger than average losses between 17% and 18% amid shaken investor confidence.
Terra Classic burned more than 100 million LUNC tokens, resulting in price upticks.
Terra Classic Price Prediction: The Terra Classic price experienced a significant downturn in December, marking a new correction phase from its high of $0.00028. The coin's value plummeted by over 49% within a month, struggling to find stability above $0.000135.
Binance's recent burning of 5.57 billion Terra Luna Classic tokens has significantly reduced LUNC supply, leading to a 7% increase in LUNC and USTC prices.
The world's largest crypto exchange Binance burned 5.57 billion Terra Luna Classic (LUNC) tokens in the 17th batch of the LUNC burn mechanism. The total LUNC burned by the crypto exchange to date reaches more than 49 billion, 53% of the total tokens burned by the Terra Luna Classic community.
Former SEC Chief of Internet Enforcement John Reed Stark irks the crypto legal community with comments about the SEC v Ripple case.
The U.S. Securities and Exchange Commission (SEC) has pursued Terraform Labs and its founder, Do Kwon, for a year following the collapse of the stablecoin UST.
A US judge has ruled that collapsed crypto company Terraform Labs and its founder Do Kwon offered and sold two digital assets as unregistered securities. The U.S. Securities and Exchange Commission (SEC) and Terraform Labs both requested summary judgment in an ongoing fraud case.
The Terra Luna Classic community has approved a major proposal by Genuine Labs, a group of developers experienced in Cosmos stacks, to work with L1TF and other developers on Terra Classic chain development. The developer team discovered a number of issues with Terra Luna Classic and offered a helping hand to address these issues.
LUNC, the resilient token emerging from the tumultuous aftermath of Terra's downfall, witnessed a notable 14% downturn, mirroring a substantial legal setback delivered by a U.S. District Court. This judicial decision favored the Securities and Exchange Commission (SEC) in their legal pursuit against Terraform Labs, the entity steering the Terra blockchain, injecting uncertainty into the fate of the beleaguered cryptocurrency.
U.S. Federal Judge Jed Rakoff delivered a summary judgment on December 28th in the Terraform Labs case, classifying Luna, MIR, and other crypto tokens as ‘securities.' This landmark decision, rooted in their identification as investment contracts, sets a definitive tone for the ongoing security violation trial.
In a recent ruling by US District Judge Jed Rakoff, the US Securities and Exchange Commission (SEC) emerged victorious in the Terraform Labs case, causing concern and unease within the cryptocurrency community over the classification of stablecoins.This has led legal experts to question the ruling and its implications.
XRP and the broader market ended the Friday session in negative territory. In January, a court hearing could materially impact the digital asset space.
It has not been easy to dissociate LUNC from developments connected to LUNA-UST 2022's collapse.
CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, we explore how venture capital funding for crypto projects evolved in 2023 and what to expect from Web3 startups in the new year.
A U.S. Court has ruled mostly in favour of the SEC in its case against the bankrupt crypto platform.
The judge ruled that LUNA and UST are securities, and denied the requested summary judgment on fraud allegations.
In a landmark ruling that could have far-reaching implications for the crypto industry, a federal judge has sentenced cryptocurrency entrepreneur Do Kwon and his company Terraform Labs, finding them violating US law for failing to register two digital currencies that ultimately collapsed in 2022.
The heated debate is centered around USTC burns, with most of the malfunctioning stablecoin located in a banned crypto wallet.
Jump Trading will join crypto firm Terraform Labs (Terraform) and the US Securities and Exchange Commission (SEC) in a civil trial next year. A judge ruled that Terraform engaged in sales of unregistered securities, but he may need fresh insight on how Jump Trading acted as a market maker for the company.
After Do Kwon abandoned LUNC and USTC (formerly UST) and established a new Terra (LUNA) chain, the Terra Classic community, comprised of dedicated validators and developers, made numerous efforts to revive LUNC and repeg USTC. This year, Terra Classic ecosystem tokens LUNC and USTC backed by the dedicated community have outperformed Terra (LUNA) substantially.
The judge presiding over the lawsuit involving Do Kwon, Terraform Labs, and the US SEC ruled that Kwon and his company violated US laws. In a summary judgment, Judge Rakoff found in favour of the SEC, ruling that Terraform failed to register LUNA and MIR as securities.
