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TerraClassicUSD (USTC), the algorithmic stablecoin tied to the LUNA ecosystem, recently went on an upward trajectory to register gains of over 300%. In a stunning cascade of events, the token's price spike in the past 24 hours has left investors wondering about the implication for Terra Classic (LUNC) and the potential revival of the LUNA ecosystem.
The world's largest crypto exchange Binance on Monday said it will launch a USTC perpetual contract offering up to 50x leverage after careful review. The move surprisingly comes amid a massive jump in TerraClassicUSD (USTC) and Terra Classic (LUNC) prices as Binance plans to launch the USTC perpetual trading today itself at 12:30 UTC.
Cryptocurrency prices have not started the week well. Bitcoin price retreated to $37,361 while the total market cap of all digital currencies dropped by 1.50% to $1.42. Some of the worst performers were tokens like Blur, FTX Token, Celestia (TIA), Mina, and ApeCoin.
The three tokens of the Terra ecosystem — Terra (LUNA), Terra Classic (LUNC) and TerraClassicUSD (USTC) — have gained momentum following an update last week.
TerraClassic, a decentralized stablecoin on Terra Classic, has surged by over 223% in the past 24 hours following a de-pegging incident in May 2022. Meanwhile, a local court in Podgorica has paved the way for the potential extradition of Do Kwon, the founder of Terraform Labs.
Following a silent pullback wave for weeks, the LUNC price skyrockets 28.50% overnight, with the Terra Classic (USTC) price surging 137%. The sudden jump reignites the bullish trend and increases the chances of a prolonged uptrend.
Amidst the legal turmoil surrounding Terraform Labs and its founders, the cryptocurrency they created, Terra Classic (CRYPTO: LUNC) is blazing past Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). What Happened: Terra Classic is up 25%, trading at $0.000099.
Yesterday, TerraClassicUSD (USTC) experienced a surprising surge, marking a significant shift in its value as it underwent a substantial increase.
Terra Luna Classic community has unanimously passed a crucial proposal amid efforts to revive LUNC and USTC. The proposal seeking community approval for the on-chain deployment of terrad client v2.3.1, related to incorporating dynamic validator commission module.
In the aftermath of a token crash attributed to an algorithm fault, Terra Classic (USTC) and the Terra Ecosystem have faced significant challenges. The market crash resulting from this incident continues to have lasting effects, with multiple attempts to revive the ecosystem proving unsuccessful.
The crypto prices today were in the negative territory, mainly due to the absence of any positive catalyst fuelling further gains in the market. Meanwhile, the market has witnessed a notable surge over the past few weeks, suggesting a bullish sentiment among investors.
Terra Classic Price Prediction: The recent turbulence in the cryptocurrency market, driven by factors like the delayed approval of Bitcoin's spot ETF and legal concerns around Binance, has led to increased selling pressure affecting various cryptocurrencies, including Terra Classic (LUNC). Experiencing a notable correction of around 30% from $0.0000972 to $0.00006, LUNC's decline seems to be part of a bullish pennant pattern, offering a potential recovery opportunity for investors.
Terra Classic Price Prediction: The cryptocurrency market has recently faced a highly volatile period, largely due to the delayed approval of Bitcoin's spot ETF and legal issues surrounding Binance and its former CEO, Changpeng Zhao. This turmoil has led to increased selling pressure, significantly impacting various cryptocurrencies, including Terra Classic (LUNC).
A court in Montenegro's capital, Podgorica, approved Do Kwon, the founder of the Terra ecosystem, extradition to either South Korea or the United States. Montenegro's Minister of Justice will decide which country Kwon goes to.
In the dynamic world of cryptocurrency, recent events have unveiled significant developments that showcase both the complexities and unusual facets of this burgeoning industry. From legal maneuverings to unconventional trading approaches, the landscape continues to intrigue and captivate stakeholders worldwide.
The extradition of disgraced Terra (LUNA) founder Do Kwon to the US and South Korea has been approved by a court in Montenegro. In a new press release, the Higher Court of Podgorica has ruled that the legal requirements needed for extraditing Kwon to the US and South Korea have been met.
On November 22nd, daily transactions on Terra Classic hit a record-breaking 589,000, showcasing a substantial increase. This surge, paired with the recovery of LUNC and USTC prices, indicates a renewed sense of interest and confidence in the project.
Reports from Podgorica, Montenegro's capital, reveal a recent decision by the Higher Court regarding Terraform Labs co-founder Do Kwon.
As Montenegro greenlights Do Kwon's extradition, two other countries can't wait to serve justice to the controversial crypto entrepreneur.
Terraform Labs and its former CEO Do Kwon are currently embroiled in a high-stakes legal battle with the U.S. Securities and Exchange Commission (SEC), stemming from the dramatic collapse of the UST stablecoin.
The saga of Terraform Labs founder Do Kwon continues to unravel with a court in Podgorica, the capital of Montenegro, approving his extradition — though the Montenegrin Minister of Justice will make the final decision on whether he will be extradited to South Korea or the United States.
Former Terraform Labs CEO Do Kwon may soon be extradited to the US or South Korea following a ruling from the Montenegrin High Court. Kwon has agreed to be deported to South Korea, but the final decision lies with Justice Minister Andrej Milovic.
The High Court in Podgorica, Montenegro, approved the extradition of Do Kown, the co-founder and CEO of Terraform Labs (CRYPTO: LUNA), marking a pivotal moment in the ongoing legal proceedings against the crypto entrepreneur. The court's ruling came in response to a request from South Korea's Ministry of Justice on March 29, 2023, and its subsequent amendment on Sept.
Terraform Labs and former CEO Do Kwon remain locked in a legal battle with the US Securities and Exchange Commission over the now-infamous depeg and collapse of the stablecoin UST.
