Is $1 LUNC Possible in 2024? Terra Luna Classic Price Prediction: LUNC Bounces 12% From Recent Low?🌕🌕The price of Terra's Luna Classic (LUNC) has recovered 12% from its two-week-ago low of $0.00008986.🌕The current price of LUNC is $0.0001067, representing a 10% increase from one week ago. According to statistics provided by CoinGecko, it has lost a little amount (1.2%) in the last day.🌕Considering the persistent legal issues surrounding Terraform Labs and its founder, Do Kwon, the motivations for this gathering seem puzzling. This week, in a Seoul court, a former head of the Terra development team testified against his former employer.🌕The former chief financial officer of Terraform, Han Chang-joon, was deported to South Korea that same day, according to a news release issued by the South Korean authorities.🌕Han and Kwon are both now in the midst of criminal procedures related to various allegations of financial crimes, including fraud. After appealing against his extradition to the United States, where he is sought, Kwon is still in the custody of the Montenegrin government.🌕Looking at the price performance chart of Luna Classic reveals that the token seems to be recovering to its previous level of $0.00012, which it reached a month ago, despite the negative publicity.🌕The relative strength index (RSI) for LUNC is 55 at the moment, but it's still quite unstable, swinging between 45 and 65.Tokens formerly issued as LUNA (V1) are now known as LUNC. UST, Terra's unsuccessful stablecoin, was pegged to the dollar in large part by LUNA V1.🌕An "algorithmic stablecoin" was the marketing term used to describe UST. It was intended that UST's $1 value would be preserved using a burn/mint method. One UST token could only be created by burning one LUNA, and the opposite was also true.
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