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In a significant development, Montenegro has extradited Han Chang-joon, a business partner of South Korean entrepreneur Do Kwon, also known as the “Cryptocurrency King.
Han Chang-joon was charged with carrying falsified travel documents alongside Terra co-founder Do Kwon last year.
In a gripping revelation, a recent report has uncovered a significant development in the Terraform Labs financial scandal. Han Chang-joon, the former financial officer of the beleaguered company, has been extradited to South Korea after serving a prison sentence in Montenegro.
The Terra community was in a celebratory mood as the LUNC token saw a significant price surge over the weekend. As revealed by a member of the community, this price surge has been attributed to the actions of the foremost crypto exchange, Binance.
Former Terraform Labs CFO Han Chang-joon was extradited from Montenegro to South Korea after his arrest with co-founder Do Kwon.
The Terra tokens have displayed constant bearish movements in their respective portfolio since the year started, indicating weak price sentiments for these tokens in the market.
Cryptocurrency Price Prediction: Over the past week, the cryptocurrency market has experienced significant volatility, moving in a sideways pattern. This phase of consolidation has been prevalent across most major cryptocurrencies, casting a shadow of uncertainty over market participants.
The community is thrilled with LUNC reaching new staking and burn milestones, alongside a surge in daily trading volume exceeding 700%. However, uncertainty looms as the token faces resistance levels and potential market volatility.
Mr. Diamondhandz1, a prominent member of the Terra Classic community, shared on Twitter that LUNC volume surged by 700%, driving its price up by more than 13%. This significant increase is linked to Binance's recent token burn, the largest exchange by trading volume.
Terra Classic (LUNC) found strong support at $0.00009, coinciding with increased demand in the overall market. With the broader altcoin market experiencing a relief rally, LUNC formed a bullish double-bottom pattern, breaking through the $0.0001 level on January 3rd.
Terra Classic Price: Terra Classic (LUNC) correction trend found solid support at the $0.00009 level, aligning with an uptick in demand pressure observed across the broader market. Amid a relief rally among altcoins, LUNC successfully formed a bullish double-bottom pattern at this support and surpassed the $0.0001 threshold on January 3rd.
LUNC's volume increases in triple-digits while its price rises, but indicators turn bearish.
Despite a challenging period, Terra Classic (LUNC) is showing signs of a turnaround. Let's take a look at the top 5 Reasons Why LUNC Price Could Reach $1
The world's largest crypto exchange Binance burned 2.1 billion Terra Luna Classic (LUNC) tokens in the 18th batch of the LUNC burn mechanism. The total LUNC burned by the crypto exchange to date reaches over 50 billion, which is 52.4% of the total tokens burned by the Terra Luna Classic community.
2 Best Altcoins To Buy Today: Chainlink (LINK) and Terra Classic (LUNC), are capturing the spotlight with their dynamic market performances and promising prospects. Chainlink, renowned for its decentralized oracle network, has been showing bullish patterns, asserting its dominance in the market.
Despite declaring the elimination of Terra Classic a few weeks ago, Crypto.Com has second thoughts.
As the bullish trend returns for many cryptocurrencies, Terra Classic (LUNC) seems to have only recently halted its decline from previous weeks and months, and machine learning and artificial intelligence (AI) algorithms are optimistic about its price by the end of this month.
Crypto exchange Crypto.com has reportedly delayed the delisting of Terra Luna Classic (LUNC) to April, as per emails received by some community members. The crypto exchange earlier informed affected LUNC holders via email about the delisting of LUNC by February 15, which was confirmed by CoinGape.
Terraform Labs has filed for Chapter 11 bankruptcy to contest the SEC's securities fraud lawsuit.
Cryptocurrencies had a modest bounce back this week, but the bullish trend is still uncertain. Take Terra Classic (LUNC), for example.
Terraform Labs CEO emphasized that the recent bankruptcy filing is critical for pursuing an appeal to the SEC's lawsuit.
Terraform Labs, the creator of the now-defunct stablecoin TerraClassicUSD (USTC), has filed for Chapter 11 bankruptcy, revealing its intention to use this move strategically to appeal a lawsuit initiated by the United States Securities and Exchange Commission (SEC).
Terra (LUNA) had a tough time, and now Terra Luna Classic (LUNC) is putting in the effort to bounce back.
The Terra Luna Classic community has rejected core developer L1TF's proposal for a security upgrade package. Validators, including Allnodes, voted “No,” citing proposal 11889, which advocates for a pay-per-job approach to developments, as the reason for rejecting the proposal.
