The prices of Terra Classic (LUNC) and USTC recently went up by a lot. This happened because the Supreme Court of Montenegro decided to let Do Kwon go, who is one of the founders of Terraform Labs. They also postponed any requests to send him back.

Even though Terraform Labs and Kwon are no longer connected to Terra Classic, these tokens still saw big increases because of this news.
Do Kwon’s Release Sparks Cryptocurrency Market Surge
News of Do Kwon’s release led to a surge in buying activity in the cryptocurrency market. This excitement was evident in LUNC’s performance, with the token experiencing a substantial 20% price increase, as reported by CoinMarketCap.
Although there has been some profit-taking following the initial spike, LUNC is currently trading at $0.000155. The token’s trading volume also witnessed a dramatic 200% increase, although this has moderated to a still-impressive 53% gain over the last 24 hours.
The positive momentum extended to USTC, which briefly climbed 12% to reach $0.0301. While the price has slightly retreated, USTC still maintains a 3.51% increase. This bullish sentiment is further evidenced by a 20% rise in total USTC futures open interest across various cryptocurrency exchanges.
Rise and Fall of LUNC Futures Amidst Market Activity
Data from CoinGlass reveals a significant increase in 1000LUNC futures open interest on Binance and Bybit, reaching a peak of 40%. Similar exchanges also witnessed a surge in LUNC futures, exceeding 35% in the past day. However, there is currently a decline in both 1000LUNC and LUNC futures as some traders are liquidating their positions.
The Terra Luna Classic chain is gearing up for a significant upgrade in the upcoming week. A key highlight of this upgrade is the implementation of IBC-Hooks, which will make it easier for decentralized applications (dApps) to join the network seamlessly.

Additionally, Genuine Labs is expected to share crucial updates aimed at improving the security, functionality, and interoperability of Terra Luna Classic. The development team aims to finalize all enhancements, including an upgrade to Cosmos SDK 0.47, within 8 weeks.
Positive Outlook for Terra Luna Classic Amidst Growing Interest
The combination of recent developments and the increasing number of wallets holding LUNC suggests a positive outlook for the Terra Luna Classic chain. This surge in interest indicates growing confidence in the platform’s potential.
Developers and projects are showing a heightened interest in building on Terra Luna Classic. This trend signifies the platform’s attractiveness as a foundation for innovative decentralized applications (dApps) and projects within the cryptocurrency ecosystem.
While optimism surrounds Terra Luna Classic, it’s essential to exercise caution in the cryptocurrency market. Prices can be highly volatile, subject to rapid fluctuations that may impact investment decisions. Investors should approach trading with diligence and risk management strategies in place.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.

#terraClassicLunc #LUNC✅

Following a ruling against Terraform Labs and its co-founder Do Kwon in a fraud lawsuit, the company is considering the option of appealing the decision amid ongoing legal hurdles.

On April 5, Terraform Labs and co-founder Do Kwon were found guilty by a Manhattan jury for defrauding investors, following SEC accusations. Terraform Labs plans to appeal the verdict, challenging the SEC’s jurisdiction and the jury’s decision. Additionally, Do Kwon faces further criminal charges in the US and South Korea related to the collapse of Terra’s LUNA cryptocurrency.
Terraform Labs and Co-Founder Do Kwon Face Civil Verdict Over Fraud Allegations
A jury in Manhattan delivered a significant civil verdict on April 5, ruling against Terraform Labs and its co-founder Do Kwon for defrauding clients. The allegations stemmed from charges brought forth by the US Securities and Exchange Commission (SEC), marking a notable development in the ongoing scrutiny of the cryptocurrency industry.
The accusations centered around purportedly misleading investors about the stability of the UST stablecoin and making false claims regarding the utilization of their technology in the Korean payment system, Chai.
Following the verdict, Terraform Labs publicly expressed disagreement with the jury’s decision, contending that the case lacked clear arguments necessary for the jury’s determination. Moreover, they challenged the SEC’s authority to pursue the action.

The company announced its intention to carefully deliberate on the next course of action, hinting at the possibility of pursuing an appeal for support. This stance underscores the company’s resolute defense against the accusations and its steadfast commitment to contesting the legal outcomes.
SEC Hails Verdict Against Terraform Labs as a Win for Investor Protection
Gurbir Grewal, Director of the SEC Enforcement Division, responded positively to the verdict, emphasizing the importance of regulatory compliance within the crypto industry. He highlighted the case as a glaring example of the significant losses incurred by investors due to the actions of Terraform Labs. Grewal’s remarks underscore the SEC’s vital role as a guardian of retail investors and the broader market. The judgment is intended to serve as a deterrent to other crypto entities, cautioning them against engaging in fraudulent practices.
The SEC’s case against Terraform Labs aligns with its ongoing efforts to regulate the crypto market effectively. This ruling contributes to the formulation of future regulations and fosters investor confidence. The SEC aims to proactively combat fraud and enhance public awareness of the rapidly evolving cryptocurrency landscape. Consequently, the outcome of this case could shape future regulatory approaches in the crypto sphere for an extended period.
Legal Woes Mount for Do Kwon Amidst Terra’s LUNA Crypto Crash
In addition to the SEC lawsuit, Do Kwon faces criminal charges in both the US and South Korea related to the collapse of Terra’s LUNA cryptocurrency. These charges signify a deeper legal entanglement for Kwon, extending beyond civil proceedings.
The extradition proceedings involving Kwon have encountered delays in Montenegro, where initial approval for extradition was later stayed by the Supreme Court. As a result, Kwon’s fate now rests with the Ministry of Justice, which will determine the next course of action.
This legal saga has garnered international attention, casting a shadow over Terraform Labs and its global community. The uncertainty surrounding Kwon’s legal battles reverberates across the crypto sphere, underscoring the gravity of the situation for all involved parties.

⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.

#terraClassicLunc #Lunc

These predictions are based on the expectation that the USTC price will continue to rise in 2025, driven by factors such as technological advancements, global crypto acceptance, and the community's support for the Terra Classic ecosystem.
In 2025, the TerraClassicUSD (USTC) price is expected to experience significant growth. The lowest price forecasted is $3.74, while the average price is anticipated to rise to $5.15, reflecting the increasing adoption of blockchain and crypto assets. The highest price prediction for the year is $6.29, which builds on the solid foundation of community support and functional upgrades incorporated in recent years
This positive outlook for USTC is based on the continued growth trajectory of the crypto market, the resilience of the Terra ecosystem, and the potential for further technological advancements and community support. As the crypto market continues to evolve, USTC is poised to benefit from these developments, offering a promising investment opportunity for those looking to capitalize on the growth potential of the TerraClassicUSD ecosystem.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please do your own research before making any investment decisions.
#ustc #terraClassicLunc

Singapore-based cryptocurrency exchange WEEX has announced a new development designed to support the Terra Classic community and its LUNC burn initiative. This announcement highlights WEEX’s commitment to the Terra Classic ecosystem and its long-term potential.
WEEX announced a new landing page for LUNC on its website through its official X account. Mrdiamondhandz1 (@Mrdiamondhandz1), a prominent community member and WEEX burn ambassador, reshared the news on his X account.

The Dedicated Landing Page
WEEX has launched a dedicated landing page to provide clear and comprehensive information about the LUNC burn initiative. The page features a list of the program’s first round of LUNC burn ambassadors.
Additionally, it includes a countdown timer for the monthly scheduled LUNC burns, ensuring transparency and fostering community engagement. Users can find all relevant details regarding the WEEX burn initiative on the landing page.
Collaboration with Prominent Community Figure
The WEEX program was developed in collaboration with Mr.Diamondhandz1, the host of the popular LUNCLIVE podcast.  Mr.Diamondhandz1 is a well-respected figure within the Terra Classic community, and his involvement signifies WEEX’s commitment to working alongside community leaders to achieve shared goals.
Advantages of WEEX for the LUNC Community
After WEEX listed LUNC spot trading pairs, some analysts predicted that the digital asset would dominate the current bull cycle. The new landing page and the features of the token burn initiative have increased the bullish sentiment.
A central element of the burn initiative involves WEEX allocating 15% of its trading fees from both the Futures Pro and Spot platforms towards burning LUNC tokens.
This burn mechanism aims to reduce the overall circulating supply of LUNC, potentially leading to an increase in its value. The initiative directly contributes to the community’s ongoing efforts to revitalize the LUNC ecosystem.
WEEX’s Dedication to the LUNC Ecosystem
WEEX’s announcement emphasizes the company’s firm belief in the long-term potential of the Terra Classic ecosystem. The exchange aims to provide a robust trading platform for LUNC while contributing meaningfully to the community’s efforts towards sustainability and growth. The monthly LUNC burning events and the dedicated landing page serve as concrete examples of WEEX’s dedication to this objective.
A Call to Action for the LUNC Community
The WEEX landing page concludes with a call to action, inviting the LUNC community to join the initiative. By working together, WEEX and the community can work toward a brighter future for LUNC. The program presents an opportunity for both parties to collaborate and contribute to the ongoing revitalization of the Terra Classic ecosystem.
Mrdiamondhandz1 also shared a similar call to action, asking users to “Sign up and burn,” as continuous use of the platform contributes to the token burn rate.

⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#terraClassicLunc #LUNC🔥

Terra Classic (LUNC) validator TerraCVita recently disclosed that they had finalized the package for the compensation of the victims of the 2023 Terraport hack.

Read more on: https://thecryptobasic.com/2024/03/19/terra-classic-validator-terracvita-finalizes-package-to-compensate-victims-of-2023-terraport-hack/
#terraClassicLunc #Terraport #Crypto #CryptoNewsFlash #CryptonewswithJack

Binance, the world’s largest crypto exchange, recently burned over 4 billion Terra Classic (LUNC) tokens, reigniting hope in the revival plan and a potential push to $1.

Read more on: https://thecryptobasic.com/2024/04/04/can-terra-classic-finally-reach-1-as-binance-burns-4b-lunc/
#terraClassicLunc #LUNC✅ #Crypto #CryptoNewsFlash #CryptonewswithJack

The cryptocurrency market is constantly flooded with speculations about the price trajectories of various digital assets. One coin that has been generating particular interest is Terra Classic (LUNC), the remnant of the imploded Terra (LUNA).
The Bitcoin halving, a pre-programmed event that occurs roughly every four years, reduces the rewards for BTC miners by half, effectively decreasing the supply of new Bitcoin entering circulation. Historically, halving events bullishly impact Bitcoin’s price, which could spill over into the altcoin market.
Google Gemini’s AI Model Offers Insights
Google’s advanced AI language model, Gemini, has recently weighed in on the potential price action for Terra Classic (LUNC).
Gemini’s analysis, which considers historical trends, market sentiment, and the upcoming Bitcoin halving, suggests that LUNC could experience a significant surge if the Bitcoin price reaches $400,000 after halving.
Gemini says, “Given the historical correlation between Bitcoin’s price and the broader altcoin market, a Bitcoin surge to $400,000 could create a strong tailwind for LUNC. If market sentiment remains bullish, LUNC has the potential to break out of its current range and potentially reach a price of $0.002539 or higher, representing a gain of over 1000% from its current level.”
It’s crucial to remember that cryptocurrency markets are highly volatile and unpredictable. Google Gemini’s prediction is based on probabilistic models, and there’s no guarantee that LUNC will reach the suggested price target.
Terra Classic Ecosystem Developments
Beyond the potential impact of the Bitcoin halving, the Terra Classic community has been actively working to revitalize the ecosystem. Several developments that could positively influence LUNC’s price are underway:
Burning Mechanism: Every transaction on the Terra Classic blockchain incurs a small tax, usually around 1.2%. These LUNC tokens from the tax are then permanently burned (removed from circulation). Besides that, Binance, a major cryptocurrency exchange, supports the recovery of LUNC by adhering to the burn initiative every month. Times Tabloid recently reported that Binance burned 4.17 billion LUNC
Network Upgrades: Developers, such as Fragwuerdig are working on upgrades to the Terra Classic network, aiming to improve its scalability, security, and overall user experience.
dApp Development: Efforts are underway to attract more developers to build decentralized applications (dApps) on the Terra Classic blockchain, which could increase its utility and adoption.
The Road Ahead
While Google Gemini’s prediction offers a glimmer of hope for LUNC investors, it’s essential to approach the market with caution. The path forward for Terra Classic remains uncertain. However, the combination of the upcoming Bitcoin halving and ongoing developments within the LUNC ecosystem could pave the way for a resurgence in the price of this once-troubled cryptocurrency.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Lunc #terraClassicLunc

The community behind Terra Classic (LUNC) has rejected a proposal aimed at increasing the network’s gas fees by a whopping 10x. 

Read more on: https://thecryptobasic.com/2024/04/25/terra-classic-community-rejects-10x-increase-in-gas-fees/
#terraClassicLunc #Crypto #CryptoNewsDaddy #CryptoNewssCommunity