As a seasoned crypto investor with a keen interest in the Terra ecosystem, I’m thrilled to see the positive price action following the settlement between Terraform Labs and the U.S. Securities and Exchange Commission (SEC). The double-digit percentage gains for LUNC and USTC within hours of the announcement are a clear indication of the market’s confidence in the project.
As an analyst, I’ve observed a significant surge in Terra ecosystem token prices following the announcement of a preliminary settlement between Terraform Labs and the SEC. The rally saw double-digit percentage increases for both LUNC and USTC. However, the gains were somewhat tempered, with prices settling at approximately 9% higher than their previous levels within the last 24 hours.
Based on current market analysis, it’s possible that the price of LUNC could reach $0.0002 once more, representing a significant surge of over 60% from its current value.
LUNC Price Set for 60% Rally
As a crypto investor following the latest developments, I’ve come across an update from CoinGape. They reported that Do Kwon and the Transport for London (TFL) have tentatively reached a settlement with the U.S. Securities and Exchange Commission (SEC) regarding fraud allegations. This agreement comes after a jury’s verdict in April, which found Kwon and his company accountable for misleading investors to the tune of nearly $40 billion.
U.S. District Judge Jed Rakoff has requested that both the SEC and the defendants, Terraform Labs and Do Kwon, submit papers justifying their proposed settlement by June 12th. The Securities and Exchange Commission (SEC) is seeking a total of $5.3 billion in ill-gotten gains from Terraform Labs and its founder, Do Kwon, related to the sales of the stablecoin. Additionally, the SEC has proposed fines: a $420 million penalty for the company and a $100 million fine for Kwon personally.
The value of Terra (LUNA) surged by 30% within an hour and is now being exchanged for $0.70, marking a 16% increase in the past 24 hours. This price rise can be attributed to a substantial increase in trading activity, with volumes having soared by approximately 450% during the same time frame.
In simple terms, the prices of Terra Classic ecosystem tokens LUNC and USTC surged following a settlement, with LUNC now at $0.0001240, a 9% increase from its previous price. The highest point in the last 24 hours for LUNC was $0.000131. The significant uptick in trading volume, over 150% higher than usual, demonstrates strong investor attention.
As a crypto investor, I’ve noticed an intriguing development regarding LUNC and 1000LUNC futures. According to data from Coinglass, open interests for these contracts have surged by approximately 20% within the past 24 hours. Remarkably, the open interest on Binance has even spiked over 23%. This significant rise suggests that derivatives traders have been actively buying up these futures contracts in large quantities.
Javon Marks, an analyst, expressed in a recent post on X that LUNC has reached new peak prices following its breakout and this upward trend could be just the beginning, potentially leading to a 63% increase in value, reaching $0.00021439.
USTC Prices Set to Breakout
As a crypto investor, I’ve noticed an impressive 8% surge in USTC price lately. Right now, it’s priced at $0.02419 on the market. The lowest it reached within the past 24 hours was $0.02152, while the highest was $0.02694. Additionally, there has been a significant increase in trading volume, more than doubling compared to the previous 24-hour period.
As a crypto investor, I’ve noticed some significant growth in derivatives trading for USTC futures recently. In just the past 24 hours, the total open interest has surged by approximately 15%. More notably, Huobi exchange witnessed a stunning 25% increase in USTC futures open interest within an hour.
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2024-05-30 23:40