🌖 LUNC price in recovery mode after opening statements from SEC and #DoKwon ’s defense team
On Monday, #TerraClassic (LUNC) and #terraluna (LUNA) prices held steady amidst the start of Do Kwon's trial with the SEC over the collapse of Terraform Labs' TerraUSD stablecoin. The trial began in a Manhattan federal court with Do Kwon represented by his defense team. The SEC highlighted flaws in the Terraform ecosystem, emphasizing lack of decentralization and financial integrity. Despite the trial, both #LUNC. and $LUNA prices showed signs of recovery, with $LUNC up 3% and LUNA up around 2%. However, uncertainty remains as the trial progresses, potentially leading to volatility in the market.
