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LUNC Price Set for 60% Rally
CoinGape reported that TFL and #DoKwon tentatively settled with the U.S. SEC over fraud charges. This agreement follows a jury’s verdict in April, where Kwon and his company were found liable for deceiving investors for nearly $40 billion.
U.S. District Judge Jed Rakoff has asked the SEC and the defendants to file papers supporting the settlement by June 12. The SEC seeks #TerraformLabs and Do Kwon to relinquish $5.3 billion for ill-gotten gains from sales of the stablecoin, along with a $420 million fine on the company and a $100 million fine for Kwon.
Terra ($LUNA ) price jumped 30% in an hour and currently trading 16% higher at $0.70 in the last 24 hours, supported by a 450% leap in trading volumes in the last 24 hours.
#TerraClassic ecosystem tokens LUNC and $USTC prices also witnessed rallies due to the settlement. LUNC price is trading 9% higher at $0.0001240, with a 24-hour high of $0.000131. The trading volume has increased by over 150% in the last 24 hours, indicating massive interest among traders.
#LUNC✅ and 1000LUNC futures open interests recorded a 20% jump in the last 24 hours, as per Coinglass data. In fact, open interest on Binance skyrocketed over 23%. This indicates massive buying by derivatives traders.
Analyst Javon Marks in a post on X said $LUNC “setting new post-breakout highs in a run that may only be in extremely early stages!” He predicts a 63% move to $0.00021439 as a result of the breakout.
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