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<p class="is-style-lead">The fallen terra classic (<a href="https://crypto.news/price/terra-luna-classic/">LUNC</a>), formerly known as <a href="https://crypto.news/what-happened-to-terra-luna-journey-from-crypto-kings-to-fallen-stars/">LUNA</a>, has been struggling since the collapse of the Terra ecosystem in May 2022. The asset has dropped further with the current FUD around Binance. </p>



<p>Despite LUNC’s 35% gains on June 4, the asset went in the red direction as the highly-anticipated v 2.1.0 upgrade was announced to be delayed. However, the asset is still up 3.5% over the past week. The upgrade is set to be released on June 14.</p>



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<p>Moreover, LUNC’s price has been constantly going down in the past 24 hours, with a market cap of around $520 million at the time of writing.</p>



<figure class="wp-block-image size-full"><img decoding="async" width="1132" height="605" src="https://crypto.news/app/uploads/2023/06/LUNC-price-June-6.png" alt="LUNC price - June 6 | Source: TradingView" class="wp-image-14165896"/><figcaption class="wp-element-caption">LUNC price &#8211; June 6 | Source: TradingView</figcaption></figure>



<p>LUNC has declined by 11.5% in the past 24 hours and currently trading at $0.000088. The asset’s 24-hour trading volume has also fallen by 63%, standing at $170 million.</p>



<p>The downward movement comes as the US Securities and Exchange Commission (SEC) <a href="https://crypto.news/sec-sues-binance-and-cz-for-securities-violations/">took</a> legal action against the largest cryptocurrency exchange, Binance, and its CEO, Chang Peng Zhao (CZ), for securities violations.</p>



<p>Last week, the cross-chain staking protocol Carbon <a href="https://crypto.news/carbon-integrates-alliance-assets-from-terra/">introduced</a> its first Alliance assets from Terra, allowing users to stake two different liquid-staked versions of LUNA — ampLUNA and stLUNA.</p>



<p>According to a <a href="https://crypto.news/terra-co-founder-do-kwon-granted-bail-following-montenegro-ruling/">report</a> on June 5, Terra’s co-founder Do Kwon might soon be released on a 400,000 euro bail from the Montenegro court.&nbsp;</p>



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Terra Classic falls 11% ahead of its upgrade proposal

crypto.news

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