🛑🛑 Emergency News: Terra Luna Recovery Update 🚀🚀🚀

🚨 Terra Sets Preliminary Date for LUNA, LUNC, USTC Recovery 🚨

Terraform Labs has announced a preliminary date for the recovery of LUNA, LUNC, and USTC. Here are the key details:

- Preliminary Crypto Loss Claims Bar Date: August 21, 5:00 pm ET
- Purpose: For filing crypto loss claims in the Chapter 11 bankruptcy case of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL)
- Eligibility: Individuals and entities seeking claims from TFL and TLL can file crypto loss claims for voting
- Consequences of Late Filing: Holders who fail to file crypto loss claims on time will not be treated as creditors for voting purposes

Additional Information:

- Terraform Labs has announced important updates for the Terra community regarding crypto loss claims.
- The Terra ecosystem tokens are bracing for crypto market pressure.
- Terraform Labs has implemented a 0.5% tax on all LUNC token transactions to reduce the supply of LUNC.
- The Terra Classic community has been actively involved in promoting the coin on social media platforms.

#Bitcoin_Coneference_2024 #ETH_ETFs_Trading_Today #TerraLunaClassic #KaleemsCryptoMehfilKCM #MtGoxJulyRepayments

Terra LUNA & LUNC:
🌖 Terra Luna Classic to Model Site After Bitcoin.org

As the governance proposal raises eyebrows among Terra Luna Classic community members, the idea behind proposal #12117 is to have an all-encompassing site like Bitcoin.org. Inspired by the leading digital asset’s homesite, the author seeks to build a website for #LUNC✅ .

To do this, Skinder proposes working on a website concept first. After the website concept is created via UX and branding workshops, key visual design and a copywriting service will create unique content. Afterward, a minimum viable product (MVP) will be created ahead of the final website design and launch.

Currently up for voting on the #Galaxy Station, this governance proposal has received 14.22% ‘Yes’ votes, while 38.06% of community members opposed the proposition so far. Another 47.37% of #TerraLunaClassic members voted ‘No with veto.’

With over four days remaining, 230.24B out of 1.04T votes have been cast. The developments reflected LUNC’s price well, as the #Altcoins👀🚀 surged past a $500 million market capitalization on Wednesday. 

According to CoinGecko, $LUNC is trading at $0.00009234 and is on a 15.9% daily upswing as of press time.
#BinanceHODLerBANANA

🌖 Terra Luna Classic Takes Cues from Bitcoin.Org for New Site

The community behind #TerraLunaClassic (LUNC) is making huge strides towards reviving the network. This was revealed in a new governance proposal, where the author Dawid Skinder explains that the network is losing popularity and a wave of potential #investors .

Why Is the Official LUNC Website Needed Now?
Terra Luna Classic’s official website has been absent since the UST de-pegging in May 2022, causing Terra (#LUNA✅ ) and UST tokens to crumble in a matter of days. Later that year, after rebranding from $LUNA to #LUNC✅ the blockchain’s revival efforts were put into the community’s hands.

In Skinder’s estimation, $LUNC lost visits due to a lack of a website. Skinder also suggested an investor shortage that could have been anywhere from 4,000 to 162,500.
#BinanceHODLerBANANA

🌖 Platform See Positives

In recent weeks, #TerraLunaClassic has recorded positive news ranging from price upticks and a recent burn with huge support. Crypto #exchange Binance is supporting the community by burning 62 billion LUNC tokens creating a frenzy as users eye a rebirth of #USTC . $LUNC staking ratio has also neared its all-time high of above 15%. At press time, $USTC has soared 21.7% in the last 24 hours to trade at $0.02002.
#BinanceHODLerBANANA #BinanceTournament

Binance Allegedly Supports Terra Classic’s USTC Revival Plan Amidst LUNC Burn Campaign

Binance, the world’s largest cryptocurrency exchange, has made significant strides in supporting the Terra Luna Classic community. Recently, Binance community associate Diana posted a cryptic message on the X platform suggesting that Binance might be involved in the USTC rebirth. This post has sparked a lot of interest in the community.

Binance’s Contribution to LUNC Burn Campaign
Binance has played a significant role in the LUNC burn campaign, which aims to decrease the token quantity in the market. The exchange has burnt over 62 billion LUNC, which is 49% of the total tokens burnt by the community. Thus, the community has a burning history of over 126 billion tokens.

As outlined in our recent blog post, over 1.017 trillion Terra Luna Classic (LUNC) tokens, valued at $70.15 million, have been staked. The staking ratio has increased from 14.83% to 15.01%.

The USTC repeg plan has encountered some challenges, which has left the community relying on Terraform Labs and the Luna Foundation Guard to burn USTC from their wallets. The news of Binance’s possible participation in the USTC revival plan is considered a game-changer that can bring new life to the token.

The burn campaign is part of the larger plan to stabilize the value of #LUNC✅ . However, the Terra Luna Classic community has faced some obstacles, and the monthly burn mechanism from Binance has been quite helpful. #changpengzhao , the former CEO of Binance, also disclosed that Binance invested $3 million in Terra (currently #TerraLunaClassic ) and has not traded or sold any of the $LUNC tokens, which shows Binance’s long-term interest.

Diana’s recent post on the X platform, reposted by the well-known community member Mr. Diamondhandz1, mentioned that Binance could also be involved in the #USTC revival plan. This has raised hope among the community members who have been anticipating positive changes in the $USTC market.
#BinanceHODLerBANANA

Terra LUNA
Scrutiny On Terra Luna Classic, Chiliz & The Sandbox

Another token under scrutiny is $CHZ , the utility token for Chiliz. It is used on the Socios platform for fan engagement in sports and entertainment. #CHZ enables fans to purchase and influence decisions in their favorite teams through voting rights and rewards programs.

The SEC alleges that CHZ was promoted as an investment opportunity. It highlighted funds were raised explicitly earmarked for platform development, user acquisition, and marketing efforts. These factors all contributed to potential increases in CHZ’s value.

SAND, the token of The Sandbox, a virtual gaming platform powered by blockchain, is also highlighted in the SEC’s litigation. The SEC argues that $SAND ’s initial offering portrayed it as an investment vehicle. Hence, it is subject to securities regulations due to the expected returns tied to the platform’s success.

Lastly, Terra Luna Classic (LUNA), the native token of Terra, is included in the SEC’s classification as a security. #LUNA✅ facilitates stablecoin transactions and platform governance within Terra’s ecosystem. The SEC asserts that Terra Luna Classic’s issuance and trading involved expectations of profit. These expections were based on Terraform’s development efforts and market adoption of Terra’s stablecoin solutions.

The SEC also highlighted that in 2021, Terraform’s head of business development deemed #TerraLunaClassic “equity” in their company. Moreover, Terraform CEO #DoKwon once wrote, “LUNA value is viable in the long run — growing as the ecosystem grows.” A director stated in June 2021 that “owning LUNA is essentially owning a portion of the network.”

Additionally, Terraform’s marketing emphasized their team’s expertise. These factors led the Federal Court for the Southern District of New York to rule on December 28, 2023, that $LUNA and wLUNA were sold as investment contracts. Moreover, the SEC seeks to stand by this ruling.
#BinanceHODLerBANANA

Terra Luna Classic's recent surge to $0.0001563 sets the stage

Eyes on March 1 Binance burn for potential momentum

#TerraLunaClassic #TrendingTopic #Write2Earn

#HotTrends
Terra Luna Classic Shows Notable Market Value Increase

#TerraLunaClassic (LUNC) has recently surged, breaching resistance levels, but experienced a slight consolidation indicating a temporary slowdown. Despite a 4% price decrease to $0.0001402, sentiment remains positive. Market volume slightly decreased to $86.55 million, with a market cap of $824 billion, ranking 123rd. Confidence in #LUNC. rose despite a recent 25% drop. The broader crypto market is retracting, with Bitcoin and Ethereum falling. $LUNC saw an 11% increase over the month, trading between $0.0001180 and $0.00024, possibly signaling a slight downward trend. If LUNC's upward trend strengthens, it could surpass $0.00019, but a continued downward trend might test new lows around $0.00009. Bollinger Bands show increased volatility, presenting opportunities for adaptable investors.
#BTC #ETH