Recently, prices for Terra Luna $LUNA and Terra Classic $LUNC increased by more than 20%. This comes as the Supreme Court of Montenegro has ordered the release of Terra co-founder Do Kwon, which seems to have made many people and owners optimistic about Terra's future.
If Do Kwon re-enters the crypto space, it could mean Terra
LUNA may see new developments and increase the value of the token, similar to what has been done in the past with the Terra ecosystem.
Or he may launch something new, no one knows. I feel like Do Kwon's fall was different from SBF's fall with FTX, as well as Soo Joo's and Kyle Davis' fall. Do Kwon was a very smart and visionary leader compared to most founders. But he did cause a $40 billion crash in the cryptocurrency markets, and over time, as we learn about the court hearings, we will learn more about whether Do Kwon was involved in dirty acts.
Although Terraform Labs also split from the Terra Classic network, this news also led to a noticeable increase in trading activity and bullish sentiment among the LUNC community. Additionally, the Terra Luna Classic network will be undergoing a major update next week, which includes the long-awaited introduction of IBC-Hooks. This will help improve the customization, security, functionality and compatibility of Luna Classic dApps.
Personally, I'm more optimistic about LUNA than LUNC, but I feel the effects will spread either way. If you feel like Do Kwon is a leader you'll want to follow again, LUNA might not be a bad choice. Or you could capitalize on short-term hype instead.
