Carbon

Terra Classic

Terra

Read

<p class="is-style-lead">The fallen terra classic (<a href="https://crypto.news/price/terra-luna-classic/" rel="noopener noreferrer nofollow">LUNC</a>), formerly known as <a href="https://crypto.news/what-happened-to-terra-luna-journey-from-crypto-kings-to-fallen-stars/" rel="noopener noreferrer nofollow">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.&nbsp;</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><div class="cn-block-related-link"><span class="cn-block-related-link__prefix"> You might also like: </span><a href="https://crypto.news/what-happened-to-terra-luna-journey-from-crypto-kings-to-fallen-stars/" class="cn-block-related-link__link" rel="noopener noreferrer nofollow"> What happened to Terra Luna: one year after collapse </a></div><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 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 – 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/" rel="noopener noreferrer nofollow">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/" rel="noopener noreferrer nofollow">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/" rel="noopener noreferrer nofollow">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><div class="cn-block-related-link"><span class="cn-block-related-link__prefix"> Read more: </span><a href="https://crypto.news/terra-co-founder-do-kwon-granted-bail-following-montenegro-ruling/" class="cn-block-related-link__link" rel="noopener noreferrer nofollow"> Terra co-founder Do Kwon granted bail following Montenegro ruling </a></div>

Terra Classic falls 11% ahead of its upgrade proposal

crypto.news

Other articles published on Jun 6, 2023

Binance Lawsuit: 61 Cryptocurrencies are Now Seen as Securities by the SEC

JPMorgan Embraces Blockchain for Effortless Settlement of US Dollar Forex Trades in India

MASSIVE POTENTIAL – This Project is Outperforming Ethereum

Apple’s WWDC 2023 Hint at Possible Collaboration with Render Token

Bitcoin drops to 3-month lows amid Binance drama

Apple’s new Vision Pro MR debuts to a global audience

Join our free newsletter for daily crypto updates!