Why Terra Classic (LUNC) and USTC Prices Soared
The recent surge in prices of Terra Classic (LUNC) and USTC follows the release of Do Kwon, a co-founder of Terraform Labs, by the Supreme Court of Montenegro, leading to postponed extradition requests. Despite Terraform Labs and Kwon cutting ties with #TerraClassic , the tokens experienced significant gains.
LUNC saw a 20% increase, reaching $0.000155, with trading volume up by 200%. $USTC also climbed 12% to briefly hit $0.0301, maintaining a 3.51% increase. Market analysis shows a surge in futures open interest for $LUNC , although some traders are now liquidating positions.
Upcoming upgrades like IBC-Hooks aim to enhance #TerraLunaClassic 's functionality and security. Genuine Labs plans crucial updates, including an upgrade to #Cosmos SDK 0.47, within 8 weeks. These developments, alongside increased interest from developers, signal optimism, but caution is advised due to the inherent volatility of cryptocurrency markets.
