As the popularity of cryptocurrencies continues to rise, a digital asset called Terra Classic (LUNC) is still managing to attract the attention of investors and crypto enthusiasts. This token, which is the original chain of the Terra (LUNA) ecosystem, has entered a potential recovery phase with the introduction of the LUNC/USTC trading pair. Based on CoinMarketCap's cryptocurrency price prediction feature and community data, it is expected that LUNC has the potential to appreciate in value in the near future. #LUNC #LUNACLASSIC #UST #TerraLuna $LUNC $LUNA $USTC

Upside Potential:

The LUNC community predicts an average transaction price of $0.0001445 as of July 16th. This prediction indicates an approximately 54% increase relative to its current price. Furthermore, the community anticipates that the upward trend will continue until August, with LUNC trading at $0.0001355 by August 31st. This forecast suggests an approximately 44% increase from its current value. Another source called PricePredictions, which utilizes machine learning algorithms, predicts that Terra Classic could be trading around $0.000076 by July 31st.

Sustainability and Community Initiatives:

Since the collapse of the Terra ecosystem, the sustainability of LUNC relies on community initiatives. With the introduction of the LUNC/USTC trading pair, the community focuses on continuously burning tokens. Additionally, they have set ambitious goals such as increasing the LUNC token price to $1 and have initiated token burning processes. Leading platform Binance supports community initiatives by pledging to burn spot and margin trading fees associated with LUNC.

Binance Support and USTC Repeg Target:

The Terra Luna Classic community aims to achieve USTC repeg with the support of Binance. This support is expected to enhance the stability and growth of the ecosystem. Currently, LUNC is trading at $0.00009143 and has gained over 5% in the past 24 hours. Analyses also indicate an overall upward trend for LUNC.

In Summary:

Terra Classic (LUNC) emerges as a notable asset in the cryptocurrency market. Community predictions and analyses indicate the potential for future growth in LUNC. However, it is important to monitor general market price movements and assess risks. The potential for LUNC to reach new highs is strengthened by community initiatives and support from platforms like Binance. Investors should make their own decisions considering the future performance of LUNC.

This week, Terra Classic (LUNC) has been one of the best performers in the cryptocurrency market, with a price increase of almost 15%.
Although #LUNC is currently 99.9 percent below its all-time high in 2022, some investors believe the coin is on the cusp of a prolonged bull run.
There are numerous opportunities for profit in the cryptocurrency industry, but many investors are choosing to ignore Terra Classic in favour of other tiny cryptocurrencies.

There is hope for the future of the troubled Terra Classic.
Trading volume for Terra Classic has increased 164% during the past 24 hours, and the price is currently hanging around the $0.000064 level.
Despite the token's problematic past, this places LUNC at number 47 on CoinMarketCap's list of the most traded cryptocurrencies.
The Terra blockchain's first native token, LUNC, was used to back various stablecoins, notably the doomed $USTC .
But, as most investors are aware, $LUNC collapsed once #UST abandoned its peg to the US dollar in May 2022.
As a result, the Terra community decided to divide the blockchain in two, with the original chain becoming Terra Classic while keeping the LUNC coin.
One notable distinction is that collateralized stablecoins are used on the Terra Classic chain rather than algorithmic stablecoins.

Given that LUNC must now compete with the new Terra chain, which uses the LUNA token and has more developer support, the future of LUNC is murky at best.
In addition, LUNC is always fighting to recover the confidence of the larger crypto market, since the great majority of investors have lost faith in its stability after the crisis of 2022.
The SEC and other organisations are attempting to enact new legislation that might have a negative effect on LUNC's status in the market, adding to the challenges the token already faces.
Notwithstanding these obstacles, an increase in trading volume and price for LUNC indicates that there may still be some interest in the cryptocurrency.
In addition, the Terra Classic Telegram channel has over 79,000 members, demonstrating that a sizable community is still interested in the future of the project, which may be a crucial aspect in LUNC's capacity to recover.

Approximately a year ago the terra ecosystem collapsed, and with it also hit part of the crypto ecosystem.

The Terra collapse was one of the most dramatic events in cryptocurrency history. In a matter of days, the value of TerraUSD (UST), a stablecoin that was supposed to be pegged to the US dollar, lost almost all of its value. This caused the price of Terra (LUNA), the cryptocurrency backing UST, to also plummet. The entire value of the Terra ecosystem was wiped out and many investors lost their life savings.

The collapse of Terra has raised a number of questions about the future of cryptocurrencies. Some experts believe that the crash was a sign that the entire cryptocurrency market is built on shaky foundations. Others believe that the collapse was an isolated incident that will not have a lasting impact on the industry.

Here are some of the lessons the cryptocurrency community can learn from the Terra collapse:

Stablecoins are not as safe as they seem. UST was supposed to be a safe haven for investors, but it turned out to be the opposite. This shows that even the most popular and respected stablecoins are not immune to collapse.

The cryptocurrency markets are volatile. The price of cryptocurrencies can fluctuate wildly, and investors should be prepared to lose money.

Do your research before investing in cryptocurrencies. There are many scams in the cryptocurrency space, so it is important to do your research before investing in any project.

Only invest what you can afford to lose. Cryptocurrency is a high risk investment and you should only invest what you can afford to lose.

Terra's collapse was a wake-up call for the cryptocurrency community. It showed that even the most popular and respected projects are not immune to collapse. The cryptocurrency community needs to learn from this event and take action to prevent it from happening again.

#feedfeverchallenge #Terra #Luna #UST #TerraformLabs

New evidence pertaining to the involvement of Jump Trading in the collapse of the TerraUSD (UST) stablecoin has been provided by the defence representing Terraform Labs and Do Kwon. The correspondence, formally presented to the Supreme Court of Singapore, provides valuable perspectives on the trading of UST on the KuCoin platform throughout its depegging periods in May 2021 and May 2022.
The Singapore Supreme Court made a formal request for evidence subsequent to allegations made by the US Securities and Exchange Commission (SEC) against Terraform Labs. The SEC claimed that Terraform Labs had provided misleading information on the capability of their algorithm to restore the peg of UST in 2021. The Securities and Exchange Commission (SEC) asserts that the decoupling of the currency in 2021 was orchestrated by Jump Trading, a market maker based in the United States. Notably, Jump Trading was not involved during the coin's subsequent fall in 2022.
Exchange Data Reveals Role of Jump Trading
According to the defence counsel, the depegging event that occurred in May 2021 may be attributed to the withdrawal of USDT by traders from KuCoin, which was thereafter transferred to both decentralised exchanges (DEX) and centralised exchanges (CEX). The data obtained from KuCoin, the initial exchange to include UST in its offerings, indicates a notable surge in selling activity coinciding with the depegging event.
Based on the analysis of Dr. Bruce Mizrach, an expert in the field of Securities and Exchange Commission (SEC), it is said that Jump, a financial firm, was responsible for a majority of the acquisitions that contributed to the subsequent increase in UST's price, bringing it back up to $1. The legal representatives have verified that Jump Crypto engaged in trading activities on the specified day and furnished wallet addresses to facilitate comprehension of the trading approach employed by Jump and its associated entities.
The withdrawal activity of #UST on the KuCoin platform had a notable increase in proximity to the depeg event of 2021. This surge in withdrawals coincided with the subsequent decline of UST's value below the $1 mark in May 2022. The traders withdrew U.S. Treasury (UST) funds from the KuCoin platform and subsequently transferred them to other centralised exchanges and decentralised exchanges (DEXes).
Similar to the year 2021, the data from KuCoin once again indicates that Jump engaged in trading activities on the specified day. However, the precise magnitude of their trading remains uncertain. The examination of addresses associated with Jump will provide further insight into the potential influence of its trading activities on the re-pegging of UST in 2021.
If Jump's involvement in the acquisition of UST in 2022 was significantly reduced, it would provide an opportunity for the Securities and Exchange Commission (SEC) to potentially demonstrate the inadequacy of Terraform's algorithm in maintaining the stability of UST at $1.
Regulatory Authorities Intensify Scrutiny of Cryptocurrency Business Models
The involvement of Jump Crypto in the well-being of Do Kwon's Terra ecosystem has brought to light the extent to which crypto enterprises have pushed the limits of prevailing legislation in order to enhance their operations during the peak of the bullish market. In the year 2021, there was a notable trend towards adopting a hybrid business model that encompassed brokerage, market-making, and settlement activities, coinciding with the surge in Bitcoin's value to $66,000.
However, the convergence of these disparate corporate entities under a solitary retail platform raised apprehensions among regulatory authorities. A cryptocurrency exchange has the potential to exploit its many functions in order to enhance its own financial gains while detrimentally impacting investors.
The failure of the #crypto exchange group FTX Trading in the previous year can be attributed to the extensive interconnection between the FTX exchange and its affiliated market-maker, Alameda Research. The financial sheet of Alameda consisted of FTX's FTT tokens, which were utilised by Alameda as collateral for borrowing funds.
The repercussions of the firms' downfall reverberated across the entirety of the #cryptocurrency sector, resulting in a significant depletion of essential liquidity from global crypto marketplaces.
The adverse impact of these shocks on investors has led to an escalation in regulatory actions by the US Securities and Exchange Commission. Coinbase, the preeminent cryptocurrency exchange in the United States, has faced allegations of functioning as an unregistered broker-dealer, so contravening established securities regulations that have been in place for several decades.
The use of two-tier exchanges, which involve a distinct exchange and settlement mechanism, has gained popularity due to their ability to adhere to established exchange regulations. However, the Securities and Exchange Commission (SEC) has issued a warning stating that companies who fail to comply with regulations would be subject to penalties, pending a review of its exchange definitions.