Luna Classic (Former Terra)

Luna Classic (LUNC) is the native token of the original Terra blockchain, which was launched in 2018. Previously, there was an exchange relationship between LUNC and UST, an algorithmic "stablecoin" intended to have a constant value of $1. After UST depegged from $1 in May 2022, the price of LUNA and UST crashed. As a result, the Terra community voted to create a new blockchain. The original Terra blockchain and LUNA token were rebranded as Terra Classic and Luna Classic. The goal of Terraform Labs, the firm that developed the new and old Terra blockchains, is that the protocols and applications of the Terra Classic network will migrate to the new Terra 2 blockchain. As of June 2022, the future utility of the original Terra blockchain is uncertain.

Avalanche

Bonk

Chainlink

While the week started on a high note of $43,800 for Bitcoin (CRYPTO: BTC), it didn't reach that level again for the rest of the week. The crypto's apex king reported a 4% drop in the past 7-days trade while Ethereum (CRYPTO: ETH) saw a 4.6% fall in the same timeframe.

The Week That Mattered For Crypto: BONK, Avalanche Lead Gainers; Terra Classic, Chainlink Top Losers' Pack

Terra

Do Kwon, the ex-CEO of Terraform Labs, is set to spend two months in Montenegro custody after the country's High Court moved his release date to Feb. 15, 2024. While Do Kwon reportedly prefers being sent to South Korea, Montenegro's justice minister is said to be leaning towards sending him to the United States.

Report: Montenegro High Court Extends Do Kwon's Detention by 2 Months

Terra (LUNA) founder Do Kwon is staying in Montenegrin custody for at least two more months at the request of the United States and South Korea.

Do Kwon Must Stay Two More Months in Montenegro as Authorities Extend Custody Period: Report

The detention of Terraform Labs co-founder Do Kwon in Montenegro has been extended for two more months, until Feb. 15, according to court spokeswoman Marija Rakovic. This decision by the High Court in Podgorica comes in response to requests from both the United States and South Korea, where Kwon faces charges linked to the collapse of TerraUSD, an algorithmic stablecoin, in 2022, Bloomberg reported.

Do Kwon's Montenegro Detour Gets 2-Month Extension, Extradition Decision Pending

Believed to be responsible for the TerraUSD stablecoin disaster, Do Kwon's detention in Montenegro has been extended until mid-February.

Do Kwon detention extended in Montenegro after report of likely extradition: Bloomberg

The Balkan nation Montenegro is reportedly looking to extradite disgraced Terra (LUNA) founder Do Kwon to the United States.

Montenegro Primed To Ship Disgraced Terra (LUNA) Founder Do Kwon to US To Face Fraud Charges: Report

Bitcoin

From Bitcoin hitting $43K to Jamie Dimon voicing his opinions about Bitcoin again, here is a 4-minute breakdown of everything important that happened in crypto this week.

Week in Crypto: Bitcoin Hits $43K, Bitcoin Ordinal's Future Uncertain, Do Kwon May Face Extradition

From Robinhood launching crypto trading in Europe to LayerZero confirming its token airdrop, here is a 2-minute breakdown of everything important that happened in crypto today.

What Happened in Crypto Today: Do Kwon's Going to the States?

According to a Wall Street Journal report on December 7, Terraform Labs co-founder Do Kwon will be extradited to the United States.

Montenegro Plans To Extradite Do Kwon to the United States

Terraform Labs' co-founder, Do Kwon, is on the brink of extradition to the United States from Montenegro. This development follows a decisive ruling by a high court and the endorsement from a top official.

Report: Terraform Labs Co-Founder Do Kwon to Be Extradited to the US

The blowups of his UST and LUNA tokens fueled a crisis that gripped the whole crypto industry in 2022, causing losses that reverberated far and wide.

Do Kwon Faces Extradition to U.S. for Charges Tied to the TerraUSD and Luna Collapse: WSJ

The Terraform Labs co-founder has been caught in a jurisdictional tug-of-war between the U.S. and his native South Korea.

Montenegro Set to Extradite Terra Co-Founder Do Kwon to US: Report

Montenegro's chief legal officer has expressed intentions to extradite the embattled cryptocurrency fugitive Do Kwon to the United States, bypassing South Korea. The Wall Street Journal reported the developments, quoting sources close to the situation.

TerraUSD Creator Do Kwon Faces Potential US Extradition As Montenegro's Legal Chief Weighs Decision

The Justice Minister in Montenegro has told people in private meetings he plans extradite Kwon to the U.S. but not until ruling on an appeal.

Do Kwon will be extradited to US by Montenegro Justice Minister: WSJ

Terraform Labs and the SEC are fighting in court over who should define the legal status of Terra, LUNA wLUNA, and MIR tokens.

Terraform Labs asks judge to let jury decide if UST and LUNA tokens are securities

Over the last week, both bitcoin and ethereum experienced significant upticks, with increases of 13% and 10% respectively. Meanwhile, an array of other cryptocurrencies achieved even more impressive growth during the same period. Notably, terra luna classic (LUNC) surged by 122.5% against the dollar, while the BRC20 token ORDI ascended by 118.3%.

Altcoins in the Limelight — LUNC, IOTA, and ORDI Dominate This Week's Crypto Gains

Bitcoin (CRYPTO: BTC) moved higher, with the cryptocurrency prices trading above the key $41,000 level on Monday. Ethereum (CRYPTO: ETH) also recorded gains, topping the key $2,200 mark this morning.

Bitcoin Tops $41,000; Terra Classic Emerges As Top Gainer

In the past week, cryptocurrencies from the Terra ecosystem, Terra Luna Classic (CRYPTO: LUNC) and USTC, have experienced notable surges. This uptick is driven by optimism surrounding various projects and crypto exchanges, as well as anticipation of a burn activity by Binance, which took place on Friday.

Binance Intensifies LUNC Burn Campaign, Launches USTC Contracts — Terra Ecosystem Tokens Rally

TerraClassicUSD (CRYPTO: USTC), the remnant of the collapsed Terra blockchain, has surged 300% in the past week. What Happened: The rise in investor interest follows the news that cryptocurrency exchange Binance has started offering perpetual contracts for USTC, and as details of a proposed Bitcoin-focused revival plan with an airdrop emerge.

Remember The Ill-Fated Terra Stable Coin? Its Shot Up Nearly 300% This Week — Here's Why

The suit was filed in September 2022 by Julian Moreno Beltran and Douglas Gan on behalf of 375 others, who claim they lost a combined $57 million.

Terraform Labs, Do Kwon Fail to Have Singapore Class-Action Suit Rejected: Report

Ethereum

Bitcoin (CRYPTO: BTC) moved lower, but the cryptocurrency prices traded above the key $37,000 level on Tuesday. Ethereum (CRYPTO: ETH) also recorded losses, but remained above the key $2,000 mark this morning.

Ethereum Falls But Remains Above This Key Level; Terra Classic Becomes Top Loser

Terra ecosystem coins have spiked following the injection of $15 million into the network's DeFi ecosystem by Terraform Labs.

Terra Ecosystem's LUNA, LUNC Surge By Double-Digits

Amidst the legal turmoil surrounding Terraform Labs and its founders, the cryptocurrency they created, Terra Classic (CRYPTO: LUNC) is blazing past Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). What Happened: Terra Classic is up 25%, trading at $0.000099.

Terra Classic Soars 25% While Bitcoin, Ethereum Take A Backseat Amid Do Kwon's Growing Legal Woes

The extradition of disgraced Terra (LUNA) founder Do Kwon to the US and South Korea has been approved by a court in Montenegro. In a new press release, the Higher Court of Podgorica has ruled that the legal requirements needed for extraditing Kwon to the US and South Korea have been met.

Terra (LUNA) Founder Do Kwon's Extradition to the US and South Korea Approved by Montenegro Court

The High Court in Podgorica, Montenegro, approved the extradition of Do Kown, the co-founder and CEO of Terraform Labs (CRYPTO: LUNA), marking a pivotal moment in the ongoing legal proceedings against the crypto entrepreneur. The court's ruling came in response to a request from South Korea's Ministry of Justice on March 29, 2023, and its subsequent amendment on Sept.

News for Luna Classic (Former Terra) Crypto (LUNC)