Terra Classic Research Hub | LUNC information, history and analysis

Terra Classic (LUNC) exhibits positive trading momentum, increasing by 2.20% weekly. A trading volume of approximately 23,876,010 USD indicates heightened market interest. Traders remain cautious yet optimistic, closely monitoring resistance and support levels.

LUNC holds a market cap of roughly 614,461,915 USD with a circulating supply of 5.5 trillion tokens. The recent responses to price consolidation patterns may signal bullish Movement, relying on key support levels for potential recovery.

Upgrade details from Binance: Binance will support the Terra Classic (LUNC) upgrade on December 17, 2024, starting at block height 21,163,600. It will temporarily suspend deposits and withdrawals at 14:57 UTC to ensure a smooth transition.

User experience remains uninterrupted: Trading on the Terra Classic network will not be interrupted during the upgrade. Users don’t need to take any actions as Binance guarantees the management of all technical arrangements.

Synthetix’s bullish momentum: Synthetix has recently broken free from a three-year price constraint, reaching highs of 3.67 USD. Currently trading at 2.80 USD, it shows potential for a 32% increase, with strong support at 2.43 USD.

Terra Classic’s recovery indicators: Terra Classic also exhibits strong recovery signs after bouncing off its support level of 0.0001150 USD. Trading now at 0.0001277 USD, it could retest its peak, indicating an upside potential of 41%.

Singapore-based Terraform Labs and its founder, Do Kwon, have reached a settlement agreement with the SEC to end the civil lawsuit filed in the US over allegations of defrauding crypto investors.

The development comes after a jury in the US District Court for the Southern District of New York found the company and Kwon liable for civil fraud in April.

Do Kwon’s Terraform Labs files for Chapter 11 bankruptcy protection

Do Kwon’s Terraform Labs, the company behind the now-defunct stablecoin TerraUSD (UST), has filed for bankruptcy protection in the United States.

The bankruptcy filing comes just four days after the U.S. SEC agreed to postpone Do Kwon’s upcoming fraud trial to March 25.

Binance conducts 11th LUNC burn, 2.65 billion tokens destroyed

Binance, the world’s largest crypto exchange, has burned 2.65 billion Terra Classic (LUNC) tokens in its 11th burn round.

The total LUNC tokens burned by Binance now exceed 35.5 billion, with the community’s burn surpassing 68 billion.

Terra Classic announces official date of parity upgrade

Terra Classic developer group Joint L1 Task Force (L1TF) revealed June 14 as the official date of the CosmWasm v1.1.0 upgrade.

The CosmWasm v1.1.0 upgrade will bring back utility to the Terra Classic network by allowing projects and builders across Cosmos and Terra Luna 2.0 to once again build on the Terra Classic chain.

Terraform Labs co-founder indicted in South Korea

The Seoul Southern District Prosecutors’ Office has reportedly indicted Terraform Labs co-founder Shin Hyun-seong and nine other individuals for the collapse of the Terra ecosystem.

The 10 individuals were reportedly indicted on charges of fraud, breach of trust and embezzlement and referred to trial after 11 months of investigation.

South Korean authorities seize $160M in assets tied to Terra employees

The Seoul Southern District Prosecutor’s Office has reportedly confiscated roughly $160 million worth of assets from eight people connected to the collapse of Terraform Labs.

The prosecution team is investigating the property ownership status of the suspects to recover the proceeds of crime and recover damages.

Do Kwon now faces criminal fraud charges from U.S. prosecutors

Federal prosecutors in New York charged Terraform Labs founder Do Kwon with fraud hours after he was arrested by police in Montenegro.

According to the complaint, Kwon is being charged with conspiracy to defraud, commodities fraud, securities fraud, wire fraud and conspiracy to engage in market manipulation.