Terra

<p>The post <a href="https://coinpedia.org/news/terra-luna-classic-lunc-price-faces-a-steep-uphill-ahead-following-historical-us-sec-settlement/">Terra Luna Classic Price Plunges Post SEC’s $4.47 Billion Fine! Recovery on the Charts?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The Terra Luna Classic (LUNC) community has faced significant challenges since the market turmoil of 2022, which saw a massive $30 billion loss in a single week. Despite efforts to rebrand and refresh products, the ecosystem of UST logarithmic stablecoins within Terra Luna has struggled to recover.</p> 
<p>There are concerns about Do Kwon’s leadership, especially regarding customer protection measures. The landscape has seen the rise of new blockchains and web3 projects that prioritize stronger security measures.</p> 
<p>Here’s everything you should know. Dive right in. </p> 
<h2 class="wp-block-heading" id="h-understanding-the-settlement">Understanding the Settlement</h2> 
<p>According to US SEC <a href="https://storage.courtlistener.com/recap/gov.uscourts.nysd.594150/gov.uscourts.nysd.594150.272.0.pdf">filings</a>, Terraform Labs and Do Kwon agreed to pay a lump sum of $4.47 billion in fines after reaching a settlement with the agency. In addition to the fines, Kwon is expected to pay about $204 million to ensure the Terraform investors are reimbursed in the ongoing bankruptcy proceedings.&nbsp;</p> 
<p>Moreover, Kwon is barred from holding any leadership role, and Terraform Labs cannot engage in crypto trading activities.</p> 
<h2 class="wp-block-heading" id="h-lunc-market-trends">LUNC Market Trends </h2> 
<p>From a technical standpoint, LUNC’s price against the US dollar is at a critical juncture, possibly indicating further losses. This small-cap altcoin has a fully diluted valuation of about $591 million and sees a daily traded volume averaging around $38 million. Despite recent network improvements, LUNC has struggled to recover from setbacks in 2022.</p> 
<p>The altcoin continues to consolidate within a large triangular pattern and has lost support from the weekly 50 Moving Average (MA). The Relative Strength Index (RSI) has also failed to surpass the crucial 50-point mark, reflecting prevailing bearish sentiment.</p> 
<h2 class="wp-block-heading" id="h-can-burns-save-the-day">Can Burns Save the Day?</h2> 
<p>To boost optimism, the Terra LUNC community has intensified efforts for on-chain burns. Recently, Binance burned 1.35 billion LUNC tokens, contributing to a total burn of approximately 60 billion tokens.</p> 
<p>Additionally, the community approved a $30,000 expenditure (equivalent to 256 million LUNC tokens) earlier this week for development purposes, highlighting ongoing efforts to enhance the platform’s capabilities.</p> 
<p><strong>What’s your take on Terra Luna Classic’s turbulent journey?</strong></p>

Terra Luna Classic Price Plunges Post SEC’s $4.47 Billion Fine! Recovery on the Charts?

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