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🌖 US Prosecutor Says Victims of the Terra LUNA Collapse Could Run into Millions A recent court filing by US prosecutors claims the impact of Do Kwon’s Terra LUNA collapse may have extended to millions of investors. Terra founder Do Kwon’s trial has not kicked off properly, and the US prosecutors are already releasing big statements. One of which is the latest assertion from Daniel Gitner, US Attorney, that the 2022 Terra collapse affected millions of users. In a filing with a New York District Court on January 6, US prosecutors estimated the number of well-meaning investors exposed to the Terra fallout two years ago. Per the disclosure, the number of entities affected by the collapse exceeded hundreds of thousands and could run into millions.
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🌖 $LUNC will make people RICH 🤑 #LUNC TO $0.1 🚀🌕
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🌖 LUNC and USTC Price Performance LUNC price jumped 6% in the last 24 hours, with the price currently trading at $0.0001148. The 24-hour low and high are $0.0001081 and $0.0001153, respectively. Moreover, the Terra Luna Classic trading volume has increased by 33% in the past 24 hours, indicating a rise in interest among traders. Besides, a recent LUNC price analysis hints at a potential rally for the crypto to $0.000179. Meanwhile, USTC price also climbed 5% to $0.02053. The price is now trading at $0.02053, with the trading volume also rising by 3% in the last 24 hours.
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🌖 Binance Burns 1.7 Billion Terra Luna Classic (LUNC) Tokens The Terra Luna Classic community saw 1.7 billion LUNC tokens burned by crypto exchange Binance, as per the burn transaction on January 1. In the 29th batch of the LUNC burn mechanism, the crypto exchange burned $233,156 in trading fees for the period between November 30 to December 30. The total LUNC burned by one of the top crypto exchanges has now reached nearly 68.39 billion LUNC tokens. Notably, Binance burned 1.72 billion LUNC in the previous batch of the monthly burn mechanism. The top crypto exchange burns 50% of LUNC spot and margin trading fees monthly to support the community’s revival efforts. The community has burned nearly 395 billion LUNC tokens in 2 years and now hopes to see major LUNC and USTC burns as part of the narrative. Terra Classic validator Lunanauts has launched the Buy Back and Burn USTC initiative, triggering a burn narrative in the community. Other validators have joined the campaign swapping LUNC rewards to USTC and then sending the amount straight to the burn wallet.
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🌖 LUNC Price Analysis as Binance Burns 1.7b Terra Classic Tokens The Terra Luna Classic price rose for the second consecutive day after Do Kwon pled not guilty in New York and after Binance incinerated over 1.7 billion LUNC tokens. The LUNC token was trading at $0.0001150 on January 1, up by over 25% from its lowest level last month, giving it a market cap of over $1 billion. Binance burns 1.7b Terra Classic tokens The main Terra Luna Classic news was that Binance continued burning the tokens, a move that aimed at reducing those in circulation. It burned over 1.7 billion tokens, currently worth $193,000. This came after the company burned 1.728 billion LUNC tokens on December 1 and 1.048 billion the previous month. These burns solidify Binance as the biggest LUNC burner, having incinerated over 70 billion tokens in the last two years. These tokens represent about 17.7% of the total. It has done over 2,200 burn transactions. The other top burners are DFLUNC Protocol, LunaticsToken, MEXC, and Terraform Labs. Altogether, over 396 billion Terra Luna Classic tokens have been burned since May 2022, when the original Terra ecosystem crumbled. 237 million tokens have been incinerated in the last seven days, a trend that may continue for a while. LUNC price also reacted mildly to the latest Do Kwon news. Kwon, the founder and controlling shareholder of Terraform Labs, was recently extradited to the United States from Montenegro. He has pleaded not guilty in a New York court. Kwon has been charged with deceiving investors about the Terra Blockchain, its stability, and its partnership with Chai, a popular money transfer service in South Korea. He is being prosecuted by the same officials who charged Sam Bankman-Fried, who received a 25-year prison sentence. The LUNC price reacted mildly to Do Kwon’s issues because he is no longer involved in the project. Terraform Labs has already filed for bankruptcy, and last year, it agreed to burn billions of LUNC tokens.
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