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FTX Announces Debt Repayment Plan, Sparking Hope USTC, LUNC, LUNA

Solomon Odunayo — Fri, 21 Jun 2024 05:57:05 +0000

There is renewed optimism in the crypto landscape following the announcement of a debt repayment plan from FTX, the cryptocurrency exchange that collapsed in November 2022.

If the plan is successful, it could lead to a significant recovery for FTX, and several tokens closely associated with the exchange, including FTT, USTC, LUNC, and LUNA.

FTX Unveils Restructuring Strategy

FTX’s implosion in late 2022 sent shockwaves through the crypto world, resulting in billions of dollars in lost user funds. Now, the exchange is aiming for a comeback through a comprehensive restructuring strategy. This plan centers on resolving a substantial $11 billion debt burden. FTX anticipates asset sales to generate $16.3 billion, potentially enabling near-full repayment to impacted customers.

This news has instilled a sense of hope within the cryptocurrency community. The prospect of FTX regaining its footing and users recouping their losses has ignited significant speculative interest in FTX and its affiliated tokens.

Potential Rebound for FTT

Central to FTX’s recovery efforts is its native token, FTT. The token’s value plummeted after the exchange’s collapse. However, the debt repayment plan could lead to a notable resurgence for FTT. Market analysts like Hanzo believe these efforts could become the catalyst to propel FTT’s price upwards.

Technical analyst Mags has publicly acknowledged FTT’s lack of intrinsic value beyond market speculation. However, they have also revealed accumulating FTT over recent weeks, suggesting a belief in potential price appreciation as FTX’s recovery unfolds.

USTC and LUNA Poised for Revival?

The positive effects of FTX’s revival plan are expected to extend beyond FTT. Tokens like USTC (TerraUSD) and LUNA (Terra) also stand to benefit from the exchange’s return.

USTC, a stablecoin within the Terra ecosystem, experienced significant setbacks following the FTX debacle. However, the potential restoration of market confidence in FTX, fueled by its debt clearance efforts, could lead to renewed confidence in USTC, potentially stabilizing its value.

LUNA, another prominent token within the Terra ecosystem, may also see a positive impact. FTX previously played a vital role in providing liquidity and market exposure for LUNA.

Additionally, historical ties exist between FTX’s affiliate Alameda Research, and Terraform Labs, the entity behind Terra. These factors position LUNA for a potential recovery as FTX reboots its operations.

FTX’s anticipated return signifies more than just resolving its debt. It represents a potential catalyst for a broader revival within the cryptocurrency market, particularly for FTT, USTC, and LUNA. By regaining investor confidence and implementing a robust restructuring plan, FTX has the potential to revive its platform and re-establish its position within the crypto landscape.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Times Tabloid is not responsible for any financial losses.

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LUNC and LUNA Price Analyses: Bulls Are Consolidating for Propel Action

Solomon Odunayo — Fri, 14 Jun 2024 21:37:34 +0000

The cryptocurrency market witnessed a positive swing recently, with Bitcoin leading the charge after the release of favorable US CPI data. This bullish trend, however, proved short-lived as profit-taking swept across the crypto space, erasing most gains.

Terra tokens, LUNC (Terra Classic) and LUNA (Terra), also experienced this volatility, with their price movements reflecting contrasting investor sentiment.

Terra Classic (LUNC) Recent Trend

LUNC has endured a rough week, dropping roughly 15.49%. In the last 24 hours, the token has also dropped by 5.80%. On the other hand, this decline is accompanied by a significant 36.96% increase in trading volume. Despite the token’s initial upswing fueled by the release of positive CPI data, LUNC remains firmly in bearish territory, reflecting a YTD loss of 30%.

Currently priced at $0.00009913, LUNC boasts a total supply of over 6.7 trillion tokens, translating to a market capitalization of $597.97 million. This positions it at number 118 on the global crypto market ranking.

Technical analysis using the Moving Average Convergence Divergence (MACD) indicator suggests a potential reversal for Terra Classic (LUNC). The red histogram on the MACD is flattening, hinting at a possible bullish convergence in the future. This convergence signifies a potential rise in LUNC’s price.

If the market sentiment improves, bulls may seize the opportunity to retest the resistance level of $0.00012735. Conversely, a bearish turn could see LUNC fall towards its crucial support level of $0.00009250.

LUNA Struggling to Find Traction

LUNA also paints a concerning picture. The token continues to hover around its critical support level of $0.5. This lack of movement indicates waning investor interest in LUNA.

Even the brief bullish surge witnessed in the past day couldn’t be sustained, with LUNA quickly retracing its gains. This rapid reversal highlights the weakness of the current buying pressure.

The Relative Strength Index (RSI) for LUNA reflects this weakness, displaying a flat line indicative of a stagnant price movement. Additionally, the bearish curve on the average line of the price chart reinforces the negative outlook for LUNA in the short term.

Maintaining a price above $0.5 is crucial for LUNA. If successful, it could pave the way for a retest of the resistance level of $0.7315 within the month. However, a sustained bearish trend could result in a breakdown of the critical support level, pushing LUNA towards its next support zone at $0.40.

The recent price movements of LUNC and LUNA expose a clear divergence in investor sentiment. While LUNC displays tentative signs of a potential rally, LUNA struggles to gain traction and faces the risk of a significant price drop. The coming days will be crucial in determining the short-term trajectory of both tokens.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Times Tabloid is not responsible for any financial losses.

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Pundit Highlights How Terraform Labs Shutdown Would Boost LUNC Growth

Tobi Loba — Fri, 14 Jun 2024 06:34:56 +0000

Derek (@kimmyboy2), has shared his thoughts on the recent developments around Terraform Labs, the company behind Terra Classic (LUNC) and the broader LUNA ecosystem.

Following a $4.47 billion settlement with the U.S. Securities and Exchange Commission, Terraform Labs will cease operations and transfer control of the ecosystem to the community. Derek shared a picture of the post made by Chris Amani, CEO of Terraform Labs, who announced the next steps on X.

A Potential Silver Lining

Derek points to the burning of all unvested Luna tokens held by Terraform Labs as a potential catalyst for LUNC’s growth. LUNC works with a deflationary model where the community uses token burns to reduce the overall supply of LUNC, potentially leading to increased scarcity and, theoretically, a higher price per token.

However, Derek acknowledges the negative aspects of the situation. He mentions the recent lawsuit loss by Terraform Labs, which adds uncertainty to the project’s future. Although early news of the settlement caused a small price surge, the positive sentiment has soured. This loss could potentially deter investors from entering the LUNC market.

Despite the lawsuit, Derek argues that the combined effect of the Terraform Labs shutdown and token burning could outweigh the negative sentiment. He emphasizes the potential for “investor inflow” into LUNC, suggesting that users who previously held LUNA with Terraform Labs might migrate to LUNC.

Derek predicts a scenario of rapid price volatility for LUNC, with the potential for significant price increases. He suggests that a decision by major cryptocurrency exchanges, such as Binance, regarding the future of Luna 2.0 could significantly impact LUNC’s price movement.

If former LUNA holders turn to LUNC as Derek expects, the investor inflow combined with the massive token burn could significantly benefit LUNC. These events would cause the demand for the remaining tokens to increase, driving up the price.

Is LUNC Going Up?

It’s important to note that cryptocurrency markets are complex and influenced by various factors beyond supply and demand. Regulatory decisions, market sentiment, and broader economic conditions can all initiate price fluctuations.

While Derek’s prediction of a rapid price rise for LUNC is optimistic, investors must conduct thorough research and due diligence before making investment decisions. However, after a prolonged battle with low prices, this event, though it’s negative on the surface, could benefit LUNC in the long term. Analysts have predicted huge rallies, and this could help LUNC achieve them.

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Binance Widens Its Support Net For LUNC, USTC, LUNA, SHIB

Tobi Loba — Mon, 10 Jun 2024 05:42:48 +0000

Binance Gulf, a joint venture between Binance and Gulf Energy, announced an expansion of its Thailand-based crypto exchange, Binance TH. The move aims to increase user options by listing new cryptocurrencies and supporting existing tokens on additional networks.

Through an official announcement on June 8, Binance TH revealed plans to introduce trading pairs for ten trending cryptocurrencies starting June 11th, 2024.

This lineup includes established names like Terra Classic (LUNC), Terra (LUNA), and Shiba Inu (SHIB), alongside promising newcomers such as Celestia (TIA), Wormhole (W), and Bittensor (TAO). The addition of these tokens caters to the growing domestic demand for a wider range of crypto assets.

The new listings are LUNC/USDT, LUNA/USDT, USTC/USDT, TIA/USDT, AR/USDT, TAO/USDT, W/USDT, TRB/USDT, JTO/USDT, and TNSR/USDT.

Certainly, this expansion favors the Terra ecosystem, as three of its tokens are listed here. Binance has consistently supported the Terra Classic ecosystem revival, performing massive token burns and other initiatives. This positive news might bring some gains to the Terra ecosystem tokens, bringing them closer to their goal.

Expanding Network Support for Existing Tokens

Beyond new listings, Binance TH supports existing tokens by integrating them with additional blockchain networks. This will allow users to trade these tokens on alternative platforms with potentially faster transaction speeds and lower fees.

Here’s a breakdown of the announced network additions:

Ethereum (ETH) will be listed on Base, Arbitrum, and Optimism networks.
Tether (USDT) will be listed on Arbitrum, Optimism, and Avalanche C-Chain networks.
Waves (WAVES) and Shiba Inu (SHIB) will be listed on Binance Smart Chain (BSC).

This network expansion provides users greater flexibility and potentially improves their trading experience by offering a broader selection of blockchain environments. The changes will take effect on June 11, 2 PM Thailand time (7 AM UTC).

Potential Strategic Timing from Binance?

The announcement of these developments by Binance TH comes just a day before the anticipated settlement between the U.S. Securities and Exchange Commission (SEC) and Terraform Labs. The timing could signal Binance’s confidence in the future of the crypto market, the listed tokens, and the Terra ecosystem.

While the broader crypto market has experienced a 24-hour drop of 0.66% due to a selloff, many in the community remain optimistic about a rebound. This news from Binance and the expected settlement on June 12 might help the market bounce back.

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Terra Classic (LUNC) Price Spikes Following Settlement Announcement

Solomon Odunayo — Fri, 31 May 2024 09:55:04 +0000

In a significant development, Terraform Labs and its founder, Do Kwon, have reached a “settlement in principle” with the U.S. Securities and Exchange Commission (SEC) in a fraud case related to the collapse of TerraUSD in 2022. This agreement was filed in court documents on May 29th.

Market Reaction to the Settlement

The news triggered a surge in Terra (LUNA) and Terra Classic (LUNC) prices. LUNA experienced the most significant gain, jumping by over 30% to reach highs of $0.77.

LUNC also saw a notable increase, rising by more than 10% to $0.0001284. While both tokens have since dropped some gains, they remain significantly higher than their pre-announcement levels.

Background of the Case

This settlement comes after a recent court ruling found Terraform Labs and Do Kwon liable for fraud related to the TerraUSD collapse. The SEC accused them of misleading investors about the stability of TerraUSD, an algorithmic stablecoin designed to maintain a one-to-one peg with the US dollar.

The SEC alleged that Terraform Labs and Kwon made false statements about the stability and security of TerraUSD, failing to disclose significant risks. They also falsely claimed their blockchain technology was used in a prominent Korean mobile payment app and misrepresented liquidity and trading volume. The TerraUSD collapse in May 2022 resulted in estimated investor losses of over $40 billion.

Details of the Settlement

The specific terms of the settlement remain confidential at this stage. Both parties are expected to finalize and submit the agreement for court approval by June 12th.

It’s important to note that Do Kwon remains in Montenegro, where he was arrested in 2023. He is currently out on bail and faces extradition requests from the US and South Korea.

This tentative settlement marks a significant development in the ongoing legal saga surrounding the TerraUSD collapse. While the specific details of the agreement are yet to be revealed, it is clear that the market has reacted positively to the news. However, it is crucial to remember that the legal proceedings against Do Kwon are still ongoing in other jurisdictions.

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Between LUNC and LUNA, Which Is Best For Long-Term Investment? ChatGPT Answers

Tobi Loba — Sat, 27 Jan 2024 02:49:01 +0000

Terra ecosystem, once shaken by the dramatic May 2022 crash, has re-emerged and is stronger than people expected.

Although it has not recovered fully, Terra Classic (LUNC), the imploded LUNA token, has the support of a strong community actively working to restore it to its former glory. The current LUNA, a fork of the Terra blockchain, also has a strong community of supporters.

Both offer intriguing possibilities for long-term investors, but choosing the right one requires careful consideration. To find out which of these Terra ecosystem tokens is the better investment option, we’ve consulted ChatGPT, OpenAI’s AI-powered Large Language Model (LLM).

The AI chatbot gave three predictions for each token for 2024, 2025, and 2026. LUNC is currently trading at $0.00009714 and LUNA at $0.61. By comparing the predicted values, we can see which will bring more profit by the end of each year.

Predictions for Terra Classic (LUNC)

ChatGPT emphasized LUNC’s passionate community and unique self-recovery plan. The burning mechanism, which is LUNC’s key recovery strategy, aims to shrink the massive token supply, to boost its price to full recovery in the long run.

After a long period of decline, Terra Classic (LUNC) is finally showing good signs, currently trading with a 4.65% increase over the last 24 hours. There are also bullish predictions of the token crossing $0.0005 soon, further fueling optimism.

Here are ChatGPT’s price predictions for LUNC:

2024: $0.0005 – $0.001 (414.6% – 929.3%).

2025: $0.001 – $0.002 (929.3% – 1,958.6%).

2026: $0.002 – $0.006 (1,958.6% – 6,076%).

Predictions for Terra (LUNA)

ChatGPT highlighted LUNA’s centralized governance model and dependence on algorithmic stablecoins as concerns about long-term stability. However, it still had good predictions for the cryptocurrency.

2024: $1.5 – $2 (145% – 227.8%)

2025: $2 – $4 (227.8% – 555.7%)

2026: $4 – $8 (555.8% – 1,211.48%)

The Verdict

Choosing between LUNC and LUNA for long-term investment depends on your risk tolerance and investment goals. LUNC offers higher potential returns but with greater volatility. ChatGPT believes LUNA’s slower growth trajectory makes it more stable.

However, in terms of the numbers, LUNC is the clear winner, and with the recent increase in staking LUNC, there might be continued price growth soon.

A diversified portfolio with a balanced allocation between LUNC and LUNA could be the best approach, allowing investors to capture potential gains in both directions while mitigating risks.

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Terraform Labs’ Bankruptcy Filing Shakes LUNA and LUNC to the Root

Adedoyin Aka — Tue, 23 Jan 2024 12:17:34 +0000

The haunting aftermath of UST’s collapse continues to trouble Terraform Labs, as the company responsible for the once-prominent stablecoin has now sought refuge in Chapter 11 bankruptcy.

This sudden move has sent shockwaves through the crypto market, causing LUNA and LUNC to experience a significant decline. Beyond the immediate impact on prices, this bankruptcy raises crucial questions about the future of Terraform Labs and its associated tokens.

From Stablecoin Savior to Bankruptcy

Terra’s journey began with bold ambitions, creating a decentralized financial ecosystem powered by the algorithmic stablecoin, TerraUSD (UST). However, the crash of UST in 2022 shattered these dreams, exposing the vulnerabilities of the ecosystem and leaving investors with heavy losses.

This unfortunate turn of events, coupled with ongoing legal battles, including a fraud indictment against Do Kwon and a lawsuit from the SEC, has ultimately led to the current bankruptcy filing.

While the bankruptcy filing states the company’s financial instability, with assets and liabilities ranging from $100 million to $500 million, there is a deeper story to uncover. The figurehead of Terraform Labs, Kwon, who holds a majority stake of 92%, looms large over the company’s prospects. His legal troubles, including fraud charges and the SEC lawsuit, cast a dark shadow over Terra’s ability to bounce back.

In the face of adversity, Terraform Labs’ CEO, Chris Amani, presents the bankruptcy filing as a strategic maneuver to navigate legal complexities and forge ahead with the company’s goals.

Do Kwon and his brainchild now face a daunting legal battle. The SEC’s fraud charges and the ongoing lawsuit paint a grim picture. Although a recent ruling dismissed some charges, the upcoming jury trial on fraud remains a major obstacle. While the bankruptcy filing may offer temporary respite, the road ahead will be long and challenging.

The Aftermath

The market responded swiftly and predictably to the news. LUNA and LUNC, which are directly linked to the downfall of UST, experienced immediate price drops, reflecting investor worries about the future of Terraform Labs.

This decline serves as a stark reminder of the interconnected nature of the crypto ecosystem, where the struggles of one project can reverberate across the entire market.

Terraform Labs’ decision to file for Chapter 11 bankruptcy is a complex one, open to different interpretations. Some view it as a strategic maneuver to shield the company from legal liabilities and buy time to reorganize its operations. Others perceive it as a desperate attempt to salvage what remains of a once-mighty empire.

Beyond Bankruptcy

While Terraform Labs seeks legal protection, the ghost of UST continues to haunt the crypto world. Regulatory scrutiny has intensified, with calls for stricter oversight of stablecoins and algorithmic mechanisms. The UST crash served as a harsh wake-up call, exposing vulnerabilities and raising concerns about the potential systemic risks associated with certain crypto projects.

The Terraform Labs bankruptcy saga is far from over. Legal battles will unfold, and market repercussions will persist. This has made the future of UST look more uncertain. This event serves as a stark reminder for investors to exercise caution and conduct thorough due diligence before venturing into the volatile realm of crypto.

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SEC Scores Major Victory As Court Declares Terra (LUNA) and UST as Securities

Adedoyin Aka — Sat, 30 Dec 2023 01:34:21 +0000

In a significant legal development, a US District Judge has ruled that LUNA and UST, two prominent assets within the Terra ecosystem, are unregistered securities.

This decision represents a major win for the United States Securities and Exchange Commission (SEC) in its ongoing battle against Terraform Labs and Do Kwon.

The verdict has sent shockwaves through the cryptocurrency community, raising concerns about the future of digital assets and the SEC’s growing influence in the industry.

Unveiling the Security Skeletons in Terra’s Closet

The SEC’s case against Terraform Labs and Do Kwon alleges a deliberate deception. According to the commission, Terra marketed LUNA and UST, among other crypto assets, as unregistered securities.

The court found weight in a statement made by Do Kwon, where he expressed confidence in Terra’s efforts, which the court interpreted as a promise of profit. This statement played a crucial role in solidifying the court’s view that investors in LUNA and UST were participating in a shared enterprise rather than simply speculating on digital tokens.

A Partial Victory, But the Jury Is Still Out

While the SEC celebrates this victory, the legal battle is not over. Judge Rakoff dismissed charges related to security-based swaps and fraud, deeming them complex and requiring further examination. These charges will be decided by a jury in an upcoming trial.

The outcome of these remaining charges adds an element of suspense to the case. If proven, the fraud charges could have severe consequences for Terra, potentially resulting in substantial penalties.

On the other hand, a jury ruling in Terra’s favor on the fraud claims could cast doubt on the entire securities argument, challenging the SEC’s regulatory ambitions in the crypto space.

Echoes of Ripple and the SEC Power Play

The Terra case bears similarities to the ongoing legal dispute between the SEC and Ripple, where the classification of XRP as a security is fiercely contested.

Although Judge Rakoff denied Terra’s attempt to use the Ripple ruling as a defense, the parallels between the cases are evident. This ruling, combined with the SEC’s recent classification of ADA and SOL as securities, indicates an increasingly assertive regulatory landscape for digital assets.

The verdict in the Terra case serves as a chilling precedent for the cryptocurrency industry, highlighting the regulatory uncertainty that looms over the sector. With the SEC wielding the “securities” label as a powerful tool, both innovators and investors are left grappling with the question of what lies ahead.

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Here’s Why LUNA, LUNC, and USTC Prices Jumped Today

Tobi Loba — Wed, 20 Dec 2023 02:57:48 +0000

LUNA, LUNC, and USTC all experienced notable surges today, which have sparked many questions in the Terra and Terra Classic communities. Despite the notable volatility of the crypto market, these jumps had something else driving them.

The surges seem to be deeply intertwined with the recent legal developments surrounding Do Kwon, the founder and ex-CEO of Terraform Labs.

Kwon, facing extradition requests between South Korea and the US, secured a victory as the court revoked its previous approval for his extradition. This unexpected turn of events from the Montenegro Appeals Court must have sparked a wave of optimism within the Terra community, sending token prices skyrocketing.

The Price Surges

Leading the charge was LUNA, the flagship token of the Terra ecosystem. It climbed almost 12% and peaked at $1.0116. It is currently trading at $0.9408, showing an 8.09% increase over the last 24 hours.

LUNC almost reached $0.0002, peaking at $0.0001731. It has dropped since then and is currently trading at $0.0001584, representing a 6.96% increase in the last 24 hours.

Finally, USTC, the stablecoin of the Terra Classic ecosystem, surged to a peak of $0.03651, before dropping slightly to its current price of $0.03418, which is a 5.06% increase over the last 24 hours.

While Kwon’s legal reprieve ignited the initial surge, broader market factors also played a supporting role. The anticipation surrounding the potential approval of a Bitcoin spot ETF further fueled the upward momentum. This general upswing in the crypto market provided fertile ground for the price surges.

Can these Cryptocurrencies Keep this Momentum?

It is easy to get carried away by surges like these. Amid the euphoria, it is crucial to remember that the road to the Terra ecosystem’s full recovery remains long and winding.

The community recently rejected a massive 800 million USTC burn proposal, highlighting the ongoing internal debates and complexities. Moreover, Kwon’s legal saga is far from over, and future developments could trigger another shift in sentiment.

However, these cryptocurrencies also experienced massive surges last month, with USTC experiencing the biggest surge. Despite the decline at the start of December, USTC is still up 160.38% from last month.

The crypto market is surging at the moment and with the Bitcoin halving event coming in April, we could see bigger surges in the prices of cryptocurrencies.

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Google Bard Chooses Best Investment Option Between LUNC and LUNA for 2024

Tobi Loba — Mon, 11 Dec 2023 02:40:11 +0000

The Terra and Terra Classic ecosystems have seen their fair share of ups and downs, with both LUNA and LUNC experiencing significant volatility in recent months. However, with both tokens on the rise, a recent analysis by Google Bard, a popular AI Chatbot, suggests that LUNC might be the more promising investment for 2024, based on key data points.

LUNC and LUNA Best Investment Option for 2024?

Google Bard selected LUNC as the preferred option based on the recent price performance of both cryptocurrencies. The AI chatbot highlighted average percentage change and monthly increase as the main factors affecting its predictions.

Average Percentage Change: LUNC, currently trading at $0.0002035, is up 7.56% in 24 hours, 4.10% in 7 days, and 122.08% in one month. While LUNA is trading at $1.12, up 12.5% in 24 hours, 20.13% in 7 days, and 44.99% in one month.

Despite recent predictions of a massive surge for LUNA and LUNA outpacing LUNC in the 24-hour and 7-day price increase, Bard wrote, “LUNC has a higher average percentage change across all three timeframes (24 hours, 7 days, and 1 month) compared to LUNA. This indicates that LUNC has experienced a more significant overall price increase.” This overall increase makes LUNC the better investment option.

Monthly Increase: Bard also highlights LUNC’s 122.08% increase in the past month, which is significantly higher than LUNA’s 44.99% increase during the same period. This performance suggests that LUNC has been displaying stronger momentum and growth potential, making it a more attractive investment option for those seeking short to medium-term gains.

Going Beyond the Numbers

Bard points out that while past performance can be informative, it’s important to acknowledge that it does not guarantee future results. It lists other factors that can significantly impact the performance of both Terra Classic (LUNC) and Terra (LUNA).

Overall Market Sentiment: The cryptocurrency market’s sentiment plays a crucial role in individual coin prices. A general market downturn could cause LUNC and LUNA to experience price drops.

Ecosystem Developments: Any significant news or developments within the Terra Classic or Terra 2.0 ecosystems can directly impact their respective tokens. A large part of LUNC’s recent surge can be attributed to developments within the Terra Classic ecosystem.

According to Bard, LUNC currently shows a more promising future. However, the chatbot acknowledges the volatility of the crypto market and advises investors to conduct thorough research before investing in the cryptocurrency.

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