Luna attracting whales & retail crypto Investors ahead of the v2.1.0 upgrade proposal.
Luna Classic (Lunc) is a collapsed crypto coin. This coin was launched by South Korean blockchain firm Terraform Labs. In May 2022, Lunc collapsed badly. Later the project team launched a new Luna coin. In the present time, some crypto proponents & Luna community members are supporting development & leadership work, to revive the Lunc coin.
The current trade price of Lunc coin is $0.0001085 & this trade price is 23.3% high over the last 7 days of trade price.
In the last 24 hours, this coin surged by nearly 17% and continuously attracted new retail investors, which are hunting for short-term profitable tokens.
The main reason behind this sudden increment in the Lunc trade price is because of v2.1.0 upgrade proposal. Under this new upgrade, the projects and developers are projected to regain the ability to leverage the Terra Classic chain as a viable option.
On 14 June 2023, the Lunc network will go through this upgrade and the upgrade will also bring several features like the burning of excess tokens, to enhance the network’s utility.
Initially when this crypto asset collapsed badly, at the time, Binance exchange delisted but later re-listed on behalf of Binance user’s demand. Binance also proposed & followed a unique approach to increase the Lunc coin burn initiatives.
Do Kwon is the core co-founder of Terraform Labs. As per reports, Kwon is the main mastermind who is responsible for the downfall of the Terra Crypto empire.
At present, he is on bail in Serbia for the charges of fake Id documents uses. After the completion of all proceedings in this case, he will be extradited to his native country South Korea.
The South Korean enforcement agencies are also eagerly waiting for Kwon so that they can start their investigation & find out the main culprit behind the whole crypto coin fraud game.