Crypto experts predict sharp growth of Terra Luna Classic amid Terraform Labs bankruptcy

The price of Terra Luna Classic (LUNC) could rise by 50% ahead of a key court hearing in the Terraform Labs (TFL) bankruptcy case that begins today. The case may end with the liquidation of the company and the burning of all coins, including LUNC and USTC, by October 30, 2024.

The main factor contributing to the possible growth of LUNC is the planned burning of all coins, which will reduce their number on the market, creating a shortage that will increase the price. This event coincides with the positive dynamics in the cryptocurrency market after the US Federal Reserve cut interest rates by 0.5%.

In addition, the recent Terra Luna Classic network update (v.3.1.5) has increased confidence in the project by improving transaction efficiency and preparing the introduction of the Tax2Gas feature. This, according to cryptocurrency market analysts, may attract new investors.

Currently, according to the CoinMarketCap analytical tracker, LUNC is trading at $ 0.8 452. If the price can overcome the resistance at $ 0.95, it could lead to further growth to $ 0.120 or even $ 0.135. However, failure to hold the support level of $ 0.80 could cause the virtual coin to fall to $ 0.65.