Token from the old Terra network, now called Terra Classic lunc , has recently shown significant growth in the cryptocurrency market. 📈 The current price of $LUNC is $0.0001207, reflecting an 8.45% increase from the previous day.
While the price increase is modest by cryptocurrency standards, it indicates a strong upward trend and renewed investor confidence. Another reliable factor is that Terra Classic is nearing an agreement with the U.S. Securities and Exchange Commission (SEC) regarding its bankruptcy two years ago
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If this agreement comes to fruition, the network will dismiss fraud charges brought by the SEC. Consequently, this agreement could help push the price of LUNC back up to a potential $1.00. 💵
### LUNC's Agreement with SEC Attracts Attention
This week, the SEC, Terraform Labs, and Do Kwon signed a temporary settlement agreement. The agreement came after a jury found Kwon and his company guilty of deceiving investors and causing $40 billion in damages.
The agreement with the SEC has drawn significant attention to the Terra Classic ecosystem token. According to Coinglass data, open futures positions for LUNC and 1000LUNC have increased by 15% in the past 24 hours.
This increase includes a 20% growth in the number of open positions on Binance, indicating significant buying activity by derivative traders. As futures grow, the asset's price trend also increases.
The market value of LUNC is $699.65 million, up 8% in the past 24 hours. Its 24-hour trading volume increased by 273.87%, reaching $128.13 million. Similar to futures, the strong volume increase can help LUNC achieve higher values. 📊
Last week, LUNC's price rose by 8% due to growing market optimism and renewed investor interest. Additionally, last month, the token had a steady 15% increase, trading between $0.0001 and $0.00012, reflecting positive market sentiment.