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The U.S. Securities and Exchange Commission (SEC) has taken a significant step in the ongoing Terra lawsuit, filing a motion that calls for the court to allow the testimony of defendant Do Kwon.
In the latest development in the U.S. Securities and Exchange Commission (SEC) lawsuit against Terraform Labs and co-founder Do Kwon, the SEC seeks deposition from Kwon. Meanwhile, Do Kwon remains in prison in Montenegro until the end of the year for passport fraud allegations, with extradition proceedings yet to begin.
Supporters say the current developer team, L1 Task Force, needs more expertise to fix the chain. Astroport Classic's issues have highlighted this need, as it's a critical source of on-chain liquidity.
The top cryptocurrencies continue their struggle to stabilize their prices. The market continues to experience constant turbulence in its value. September has turned out to be the most volatile month of the year. Since the start of the month, the LUNC's price has experienced constant price volatility.
In a stunning turn of events, Terra Luna Classic (LUNC) has witnessed an astonishing price surge of over 10% in the last 24 hours, leaving both its community and the broader crypto market in awe. This unprecedented rally comes as a surprise, given the recent lackluster performance of LUNC and its counterpart, USTC, despite significant proposals and a chain update.
In the past day, Terra Luna Classic experienced a significant uptick, breaking through key resistance barriers, sparking hope for a potential bullish surge. While LUNC claimed the title of ‘top gainer' today, it's now struggling with maintaining its upward momentum due to unfavorable on-chain signals.
Despite the overall downward pressure in the crypto market, the Terra Classic coin's price has been on the rise. It has seen four days of consecutive gains, totaling a 15% increase.
Defying the broader market supply pressure in the crypto market, the Terra Classic coin price continues on a recovery path. The coin price rising for four consecutive days has recorded a 15% gain and pierced the upper resistance of the channel pattern.
Late Thursday, the price of Terra Luna Classic (LUNC) experienced an unexpected increase, surging by more than 10% within the last 24 hours. This sudden movement came as a surprise to the Terra Luna Classic community, given that both LUNC and USTC prices had struggled to gain upward momentum despite recent important proposals and a chain update.
With the digital currency ecosystem undergoing a seismic shift in times of price volatility, Terra Classic (LUNC) has positioned itself as one of the biggest beneficiaries on the market today. At the time of writing, the altcoin is up by more than 10% over the past 24 hours, pushing its price to $0.00006155, according to CoinMarketCap's data.
This decision also creates an opportunity for entities like Binance to burn USTC, as the minting and reminting process has been terminated. Terra Luna Classic to Halt USTC Minting and Reminting Terra Luna Classic's community has given the green light to Proposal 11784, which puts a stop to the minting and reminting of USTC stablecoin.
Terra Luna Classic (LUNC) price suddenly started moving higher late Thursday, recording more than 10% jump in the last 24 hours. The move is surprising even for the Terra Luna Classic community as LUNC and USTC prices failed to pick upside momentum despite recent crucial proposals and a chain update.
The Terra Classic (LUNC) community has formally approved a proposal to cease all processes of minting and reminting of USTC.
Since the last price prediction set on September 6 for Terra Classic (LUNC) to the end of this month, the machine learning algorithm has updated its projections for a more bearish scenario for this cryptocurrency's holders.
The Terra Luna Classic community has made a decision to halt the minting and reminting of USTC tokens as part of their efforts to bring the stablecoin back to its $1 value and revive the LUNC token. This move also allows entities like the crypto exchange Binance to begin burning USTC tokens now that the minting and reminting process has ended.
The Terra Luna Classic community has officially passed a proposal to stop all minting and reminting of USTC. While the community looks to repeg USTC stablecoin back to $1 and revive LUNC, the proposal opens the door for entities such as crypto exchange Binance to start burning USTC learning that the USTC minting and reminting
Terra Luna Classic (LUNC) has been on the radar of crypto enthusiasts and investors, but its recent price performance has left many scratching their heads. Since mid-August, the altcoin has been caught in a pronounced downtrend, drawing the attention of traders worldwide.
Over the recent weeks, the Terra classic coin price has showcased a more defined downtrend, especially noticeable since mid-August. This movement is delineated by two descending trend lines, which have repeatedly served as dynamic barriers of support and resistance.
The Layer-1 Joint Task Force ended up in the crossfires as members were dismayed by the budget requested.
The Terra Luna Classic community has passed a major proposal to ask crypto exchange Binance to burn USTC alongside LUNC in its burn mechanism. The community believes Binance burning USTC will help speed up the USTC repeg efforts by the Quant team and will also raise the value of LUNC.
Following the unsettling collapse of Terra in May 2022, the Terra Classic community is debating a new proposal aimed at restoring stability to its TerraClassicUSD (USTC) stablecoin. Central to the discussion is a proposition that nudges Binance, the world's largest cryptocurrency exchange, to burn 50% of its USTC trading fees.
In a significant turn of events within the Terra Classic community, a dedicated member named Vinh Nguyen has stepped forward to propose a solution to address the long-standing issue of accumulated technical debt within the Terra Classic L1 Task Force Q4 proposal. Nguyen's proactive approach has elicited a spectrum of reactions within the community, ranging from applause for his efforts to inquiries about the motives underlying this voluntary work.
Terra's community is looking for prolific ways to accelerate burns in the USTC repeg crusade.
“The core development team behind Terra Luna Classic, called the Joint L1 Task Force (L1TF), has outlined their plans for Q4, but the community is unhappy with their approach. There were technical problems with Q3 upgrades that affected Dapps and projects.
