Recently, both the Terra Luna $LUNA and Terra Classic $LUNC prices have gone up by over 20%. This is because the Montenegro Supreme Court ordered the release of Terra co-founder Do Kwon, which seemed to make a lot of people and holders optimistic about the future of Terra.
If Do Kwon was to reenter the crypto field, this may mean that Terra LUNA may see new developments, and add more value to the token, similar to what was done in the past with Terra ecosystem. Or he may launch something new, no one knows. I feel that Do Kwon's fall was different to SBF with FTX, and also Su Zhu & Kyle Davis. Do Kwon was a very smart and visionary leader compared to most founders. But he did cause a 40 billion downfall in the crypto markets, and we will find out more over time as we uncover court hearings, whether or not Do Kwon was involved in dirty actions.
Even though Terraform Labs have also separated from the Terra Classic chain, this news also led to a notable increase in trading activity and bullish sentiment among the LUNC community. Moreover, the Terra Luna Classic chain will execute a major upgrade next week, which includes the highly anticipated introduction of IBC-Hooks. This will help to upgrade Luna Classic dApps onboarding, security, functionality, and interoperability.
I am personally more bullish on LUNA, than LUNC, but I feel the effects will spillover regardless. If you feel that Do Kwon is a leader you will want to follow again, LUNA to hold may not be a bad choice. Or you can capitalise on the short-term hype instead.
