The Price Of LUNC’s Most Recent Rebound Attempt Will Mark The Fifth Day Of Losses

Following four straight days of losses since October 2, LUNC is seeking a comeback in line with the general market recovery. The bulls’ efforts, however, have not yet yielded notable gains as LUNC is still only slightly up, having gained a modest 0.74% over the past day at a price of $0.00029.

After hopes for the Binance burn were disappointed, Terra Luna Classic started to decline again at the beginning of the week. Contrary to expectations, Binance’s intended “burn” of LUNC had less of an impact than anticipated. Binance announced the burning of $1.8 million in LUNC, which only amounts to 0.08% of the huge 6.9 trillion LUNC supply and is far too insignificant to have any discernible effect.

KaJ Labs, the main developer of Lithosphere, announced plans to burn 2.5 trillion Terra Luna Classic for use in the network’s new FINESSE game series, but the news had little effect. KaJ Labs announced that Terra Luna Classic would be one of the networks used in its cross-chain FINESSE games in a press release published by Bloomberg.

According to KaJ Labs, it will also set aside $50 million to $100 million to help with the burn during FINESSE’s inaugural season. On October 3, Binance released information about its first batch burn, and on October 10, the outcome of its second batch burn is anticipated.

Do Kwon is under more intense legal scrutiny – LUNC

Do Kwon, the CEO of Terraform Labs, might soon lose his passport, putting more pressure on him to go back to South Korea and face charges in connection with a $60 billion cryptocurrency crisis.

If Kwon does not return the passport, it will be revoked in around 14 days, according to a government notice released on Wednesday. Interpol has issued a red alert for Kwon, and it is unknown where he is.

On Twitter, Do Kwon denied that South Korean prosecutors had frozen his assets, which totaled more than $40 million. He also denied that 3,313 Bitcoins had been moved soon after his arrest warrant, which was something he had before rejected.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

CoinCu News