A year after the infamous Terra-LUNA crisis, which led to a loss of $40 billion in investors’ money, the Terra Luna Classic (LUNC) community is showing signs of hope. On the one-year anniversary of the crisis, LUNC’s price gained 1% in the past 24 hours, rising to $0.00009048. Despite the recent surge, LUNC remains down 15% in a week, 28% in the past month, and 37% since the beginning of the year.
The LUNC community is constantly pushing to update the Terra chain, and the recent price increase could be attributed to either deliberate pumping of the coin or genuine anticipation of a beneficial announcement. Terraform Labs, co-founded by Do Kwon and Daniel Shin, transferred 1.8 million Convex Finance (CVX) tokens worth nearly $8.7 million to another wallet, almost a year after the crisis.
Terra (LUNA) and Terra Classic (LUNC) now have separate developer teams and communities, with Terra working on projects in collaboration with other blockchain firms and Dapps, while Terra Classic focuses on bringing back utility to the chain. South Korea’s Seoul Southern District Court recently ruled that LUNA coin is not a security, which could influence LUNC holders awaiting a recovery of lost funds
