Token

Terra

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/terraform-labs-reaches-agreement-with-sec-token-prices-surge/" data-wpel-link="internal">Terraform Labs Reaches Agreement with SEC, Token Prices Surge</a><br></p>
<p style="text-align: justify">With <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a> emerging that Terraform Labs and its co-founder Do Kwon have reached an agreement with the US Securities and Exchange Commission (SEC), tokens within the Terra ecosystem saw double-digit price increases. LUNC and USTC prices rose by 15% shortly after the news, but over the last 24 hours, this price movement indicated a 5.67% increase, meaning some of the gains were lost. According to analysts, the LUNC price could reach the $0.0002 level again, potentially achieving over a 60% increase.</p> 
<h2 style="text-align: justify" id="will-lunc-price-rise">Will LUNC Price Rise?</h2> 
<p style="text-align: justify">The information that TFL and <strong>Do Kwon</strong> have temporarily reached an agreement with the US SEC regarding fraud charges hit the market like a bombshell. The agreement emerged after the jury’s decision in April, which held Kwon and his company responsible for causing investors approximately $40 billion in losses.</p> 
<p style="text-align: justify">US District Judge Jed Rakoff requested that the SEC and the defendants submit documents indicating the agreement by June 12. The SEC wants Terraform Labs and Do Kwon to forfeit $5.3 billion in illicit gains from stablecoin sales, and also seeks fines of $420 million for the company and $100 million for Kwon.</p> 
<p style="text-align: justify">Following this news, the price of Terra (LUNA) surged by 30% within an hour but then pulled back slightly. Trading volumes increased by 183% within 24 hours, reaching $118 million. The current price of LUNC is calculated at $0.0001218.</p> 
<p style="text-align: justify">According to information provided by Coinglass, one of the major data providers in the market, <strong>LUNC</strong> and <strong>1000LUNC</strong> futures open positions increased by 20% in 24 hours. The open <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> on <a href="https://en.coin-turk.com/binance-ceo-shares-optimism-for-2024-and-crypto-future/" data-wpel-link="internal">Binance</a> alone rose by over 23%.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-357905" src="https://coin-turk.com/wp-content/uploads/2024/05/luna-lunc-coin-turk-com.png" alt="" width="865" height="526"></p> 
<p style="text-align: justify">Crypto analyst Javon Marks stated in a post on X that LUNC “could be targeting new highs after a breakout, indicating only the very early stages of a process.” He suggests that as a result of the breakout, the price could move to $0.00021439, a 63% increase.</p> 
<h2 style="text-align: justify" id="ustc-prices-ready-to-break">USTC Prices Ready to Break</h2> 
<p style="text-align: justify">Meanwhile, the USTC price also rose by over 9%, trading at $0.02373 at the time of writing. The lowest and highest price levels for USTC coin in the last 24 hours were $0.02152 and $0.02694, respectively. Additionally, trading volume clearly increased by over 200% in the last 24 hours.</p> 
<p style="text-align: justify">Looking at derivative transactions, total USTC futures open interest increased by 15% in the last 24 hours. Data from the Huobi exchange showed that USTC futures open positions increased by 25% within an hour.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/terraform-labs-reaches-agreement-with-sec-token-prices-surge/" data-wpel-link="internal">Terraform Labs Reaches Agreement with SEC, Token Prices Surge</a></h5>

Terraform Labs Reaches Agreement with SEC, Token Prices Surge

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