Terra Classic
WSJ: Terraform Labs claims case against Do Kwon is ‘highly politicized’
Terraform Labs, the company behind the development of the Terra (LUNA) blockchain said South Korea’s case against its co-founder Do Kwon has become political, alleging prosecutors expanded the definition of a security in response to public pressure. “We believe that this case has become highly politicized, and that the actions of the Korean prosecutors demonstrate unfairness and a failure to uphold basic rights guaranteed under Korean law,” a Terraform Labs spokesman said to The Wall Street Journal on Sept. 28. South Korean prosecutors issued an arrest warrant for Kwon on Sept. 14 for violations of the countries capital markets laws, but Terraform Labs laid out a defense arguing Terra (now known as Terra Luna Classic (LUNC)) isn’t legally a security, meaning it isn’t covered by capital mar...
Terra back from the dead? LUNA price rises 300% in September
Terra has become a controversial blockchain project after the collapse of its native token LUNA and stablecoin TerraUSD (UST) in May. But its recent gains are hard to ignore for cryptocurrency traders. LUNA rising from the dead? After crashing to nearly zero in May, LUNA is now trading for around $6, a whopping 17,559,000% price rally in less than four months when measured from its lowest level. Meanwhile, LUNA’s performance in September is particularly interesting, given it has rallied by more than 300% month-to-date after a long period of sideways consolidation. LUNA/USDT daily price chart. Source: TradingView Terra ecosystem in September It is vital to note that LUNA also trades with the ticker LUNA2 across multiple exchanges. In detail, Terraform Labs, the firm behind...
Here’s why Terra Classic price has soared by 250% in September
Terra Classic (LUNC) has outperformed all top-ranking cryptocurrencies so far in September gaining nearly 100% in the past seven days alone. Terra Classic outperforms crypto market The token surged more than 250% month-to-date to reach $0.000594 on Sep. 8, its best level on record. Whereas Bitcoin (BTC), dropped 4%, and Ether (ETH) gained only 3.5% in the same period. The profits in the Terra Classic market appeared despite its association with the defunct Terra (LUNA) token, a $40 billion project that collapsed in May. Terra Classic is a rebranded version of the same Terra project and thus has been the subject of skepticism from analysts and investors since its debut. But traders have ignored such warnings in recent weeks, with a flurry of fundamental catalysts influencing them to purchas...
