Luna Classic (Lunc) is a defunct cryptocurrency launched by Terraform Labs, a South Korean blockchain business.
Lunc failed spectacularly in May 2022. The project team later released a new Luna coin. At the moment, several crypto supporters and Luna community members are backing development and leadership efforts to resurrect the Lunc coin.
The present trade price of Lunc coin is $0.0001085; this price is 23.3% higher than the previous 7 days. This coin has increased by approximately 17% in the previous 24 hours, attracting new retail investors looking for short-term profitable tokens.
The primary cause for the rapid increase in the Lunc trading price is the proposed v2.1.0 update.
With this new upgrade, the projects and developers are anticipated to regain the ability to utilize the Terra Classic chain as a viable option.
The Lunc network will be upgraded on June 14, 2023, and the upgrade will include numerous features such as the burning of extra tokens to improve the network’s utility.
When this crypto asset crashed drastically, the Binance exchange delisted it but eventually re-listed it on behalf of Binance users’ desire. Binance also developed and implemented a novel strategy to increase Lunc currency burn activities.
Do Kwon was Terraform Labs’ primary co-founder. According to sources, Kwon is the central mastermind behind the Terra Crypto empire’s demise.
He is now on bail in Serbia on charges of using forged identification documents. He will be deported to his home nation of South Korea after all proceedings, in this case, are completed.
South Korean law enforcement agencies are also anticipating Kwon’s arrival so that they can begin their investigation and identify the significant perpetrator behind the entire crypto coin fraud game.
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