Can be Terra Returning To Glory As The Price Of Crypto Launches Rises?

The issuing of the arrest warrant for Terraform Labs' Founder has been fiercely debated, as it is thought capable of shutting down the Terra project that is being built.

The South Korean Court's issuing of an arrest warrant for Terraform Labs (TFL) Founder Do Kwon has been widely debated, as it is thought capable of shutting down the Terra project that is being constructed.

 The collapse of the Terra ecosystem, which drove down the values of LUNC and UST tokens, enraged some investors, who sued Do Kwon for claimed market manipulation to profit himself. 

However, before the arrest warrant was issued, the values of LUNA and Luna Classic (LUNC) tokens surged, with LUNC increasing by more than 500% in three weeks. 

After the letter was publicized, LUNC and LUNA prices reduced, although only by a small proportion compared to before prices jumped hundreds of percent. And after destruction of Terra, two new currencies were introduced: LUNA and LUNC. Specifically, LUNC is the original Luna token, whereas LUNA is the new Terra 2.0 network token..

Why the LUNC token, which should have been unable to recover, really strengthened began in August, when Terra Classic revealed plans to shift 33 projects onto the chain.

 Meanwhile, tax burn suggestions, as well as re-enabled delegation and staking tokens, have been accepted.

"The new tax burn will charge a 1.2% lower taxes on on-chain LUNC and USTC transactions until the estimated population of LUNC tokens hits 10 billion." "At the moment, the price of LUNC is neither increasing nor decreasing," said Haipo Yang, Founder and CEO of crypto exchange CoinEx..

 LUNC DAO stated on August 22 that Terra Classic would begin LUNC staking and burning.

"There are also speculations that 66% of the chain's nodes will support the idea." The network will also operate independently of Terraform Labs and Do Kwon. "The news sent LUNC skyrocketing," Haipo Yang remarked.

 However, LUNC DAO stated on Twitter that the burning plan might return LUNC's price to US$1. It piqued the curiosity of investors, who believed that LUNC would grow and emerge from Terraform Labs' shadow.

However, it is difficult to predict that LUNC will have another price boom. However, others have predicted that LUNC will be the next SHIB.

"Observers believe that, despite LUNC's significant community support, its ecosystem is still facing a shortage of liquidity and may eventually become a ghost chain," said Haipo Yang.