Terra Classic token predicted to grow by 63% by December 31

Members of the CoinMarketCap cryptocurrency community have predicted that the Terra Classic (LUNC) fraudulent token will grow by 63.76% by December 31. LUNC is a rebranded version of Terra (LUNA), which collapsed in May, causing the entire cryptocurrency market to collapse and thousands of investors to lose their savings.

According to a survey conducted on November 25 among 1,356 users, LUNC could be traded for $ 0.1 005 by the end of 2022. Positive forecasts have emerged after the «promising» Terra Classic update that took place a few days ago. Cryptocurrency representatives have burned more than 28 billion LUNC tokens, which is almost 0.4% of the total supply of coins.

In recent months, LUNC has been trading on a stable downward pattern, following the general model of most cryptocurrencies. In October, the price of LUNC was positively influenced by a proposal by Tobias Andersen, a senior developer at Bitcoin Suisse AG, to address the problem of a large number of unsecured USTCs and the hyperinflationary supply of LUNC. Andersen wants to recapitalize USTCs through quantitative easing and reduce the huge amount of debt that accumulated in May 2022 during the Terra Classic ecosystem crash.

In early November, the South Korean prosecutor’s office received evidence that Terraform Labs CEO До Квон" href="https://noworries.media/biography/do-kvon/" data-bio-id="3665">Do Kwon manipulated the price of the LUNA cryptocurrency. «I cannot disclose the details, but it was a story of conversations [у месенджері - ред.] in which the CEO of [До Квон] specifically ordered to manipulate prices,» said a member of the South Korean supervisory agency.

As for the cryptocurrency developer Luna, Do Kwon is being sued for $ 57 million. 359 investors accuse Kwon and his colleagues of deliberately defrauding investors. However, in order to return the funds to investors and punish Do Kwon and his partners, the founder of Terraform Labs must first be found. Interpol and another 4,400 former Terraform Labs investors are currently working on this.