The long-awaited LUNC/USTC swaps may soon be available on TerraSwap, bringing great news for the Terra Classic (LUNC) community. Terraform Labs has taken the initiative and submitted a Pull Request (PR) to enable simple integration. The PR was accepted by Terraform Labs, who has further committed to merging it and making the swapping of LUNC/USTC available on Station.
The LUNCBurnArmy has further confirmed that the merging process is ongoing and they are confident that it will be completed today. They have promised to keep the community updated once the PR is finalized. In the past year, there have been various attempts to revitalize the value of LUNC, and this trading pair could be a great addition to meet the needs of the community.
In other news, Do Kwon, co-founder of Terra, and his colleagues have made a significant withdrawal of Bitcoin from a Binance wallet owned by the Luna Foundation. The transaction, worth $163 million in Bitcoin (5,292 BTC), was transferred from the wallet to an undisclosed address.
The transfer has been conducted amid ongoing court proceedings and investigations surrounding Do Kwon and Terraform Labs (TFL). Following the Terra-LUNA incident, TFL secretly moved 10,000 BTC to a cold wallet, according to information from the US Securities and Exchange Commission (SEC).
In addition, Do Kwon and TFL have engaged in significant cryptocurrency withdrawals. They executed a transfer of 1.8 million Convex Finance (CVX) tokens, totaling nearly $8.7 million. Allegations suggest that Do Kwon or a related party, transferred stablecoins worth $400,000 and Terra Classic (LUNC) tokens valued at $150,000 from wallets under his management to a separate wallet. Prosecutors in South Korea have asserted that since his arrest, Do Kwon has transferred cryptocurrency assets totalling $29 million.
LUNC has experienced a significant loss of over 99.9% from its peak value of $119. Over the past 30 days, there have been 14 positive gains, representing 47% of the total. On the other hand, the 14-Day Relative Strength Index (RSI) currently stands at 40.06, indicating a neutral stance for the cryptocurrency and pointing to a potential sideways trading pattern. As of the time of writing, LUNC is trading at $0.00008365, registering a decrease of 3.14% in the past 24 hours.
The consequences of the recent events on Terra’s fate and those involved are still unclear. Crypto News Flash does not endorse or take responsibility for any content, accuracy, quality, advertising, products, or other materials related to this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is also not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.