The unheard rise of Terra Classic [LUNC] over the past few weeks was closely watched by the whole crypto world. For instance, another intriguing piece of information emerged following the recent arrest warrant for terra terra Blockchain Network Followers : 0 View profile co-founder do kwon do kwon co-founder and ceo at terraform labs Do Kwon is a cryptocurrency developer who is the Co-Founder and Chief Executive Officer of Terraform Labs. With terraform labs, he also founded the telecommunication company Anyfi and served as its CEO, a peer-to-peer communication solution using mesh network technology. And eventually, in 2018, he founded Terraform Labs along with his friend Daniel Shine, intending to develop a decentralized price-stable cryptocurrency such as LUNA.
He successfully led the Terra Blockchain by constantly developing new blockchain technologies, products, protocols, and platforms, including anchor, prism, and mirror. Through Terraform Labs, Do Kwon developed the Terra proof-of-stake, a public blockchain built on the Cosmos SDK. He is also the founder of another failed stablecoin project, Basis Cash, an Ethereum-based token created by Nader Al-Naji. EntrepreneurDeveloper/ProgrammerChief Executive Officer Followers : 0 View profile . According to reports, Terra is a blockchain that is controlled by the community.
Both the price of LUNC and LUNA simultaneously fell after the entire unfolding of the events, with the daily charts for both coins being predominantly red. At the time of publication, the price of LUNA was $2.69 while that of LUNC was $0.000264.
A closer look at the graph, however, showed that LUNA had performed better than LUNC over the previous week, recording a 40% increase in value while the latter experienced a decline.
Interestingly, the majority of LUNA’s on-chain indicators showed a potential climb in the next few days, which created a favorable environment for the coin.
This might be seen as a positive sign for the network as it shows the developers’ ongoing commitment to developing the blockchain.com blockchain.com Crypto trading and Information Followers : 1 View profile . Additionally, many were supporting the price increase, ensuring a steady climb. While the token saw enormous growth, the community’s interest in the token also increased.
LUNC Receives Support
In the middle of all these changes, LUNC also received a tonne of support from various crypto exchanges for putting the 1.2% tax burn into effect, which many believe will help LUNC reach new heights.
However, LUNC’s chart did not appear to be affected by the crypto community’s support, as it showed a nearly 50% rise over the previous week. While LUNC is the subject of much discussion online, LUNA appears to steal the show thanks to a number of metrics that are in its favour.
Back at the beginning of the year, some notable celebrities had been named in a lawsuit over the alleged Ethereum Max (EMAX) scam. These celebrities included reality star Kim Kardashian, boxing legend Floyd Mayweather, as well as former professional athletes Paul Pierce and Antonio Brown. The class action lawsuit had accused the celebrities of pumping […]
Analysts now view NFTs as Solana’s strong suit amid a wave of adverse reports surrounding the network.
The trading volume of the non-fungible token (NFT) market of the Ethereum ecosystem dipped dramatically during the just-ended third quarter of 2022, pointing to lingering market pain. According to a report by blockchain and crypto analytics platform Messari, Ethereum NFT transactions fell 17% over the quarter to an average of 181,000 transactions per day. This […]
Amid the growing frauds in the crypto sector, the multinational financial service organization, Mastercard, has unveiled a new feature to prevent and detect crypto-related fraud operations within its network. Cryptocurrency’s broad adoption by the mainstream has pushed global business platforms to include it. But unfortunately, it also opened a way for fraudsters and cybercriminals to […]
Groups supporting Russia’s war effort in Ukraine have been actively collecting cryptocurrency to fund paramilitary operations and evade sanctions, researchers say. According to a new report, these organizations use Telegram to raise money then used to pay for equipment and training. Paramilitary Groups Employ Cryptocurrency to Fund Russian Operations in Ukraine Pro-Russian groups have reportedly […]
Binance has announced the successful completion of its first-ever token burn on LUNC, raising the prospects of the Terra-based cryptocurrency pulling a parabolic run.