TronWeekly

Crypto World News

You are here: Home / Search for "terra"

Search Results for: terra

Analyst Predicts 405% Surge for Terra Classic (LUNC) with Target Price of $0.00042986

by

Terra Classic (LUNC) has been showing signs of stability and is on the verge of a significant breakout despite recent turbulence in the broader crypto market. Over the past week, Terra Classic has seen a dip of approximately 5.21%.

However, this decline comes amidst a period of uncertainty triggered by Bitcoin’s recent drop from its peak of $70,000, now trading around $66,000. The sharp decrease in Bitcoin’s value has instilled fear across the market, causing many altcoins, including Terra Classic, to suffer from increased volatility.

Despite this short-term downturn, analysts remain optimistic about LUNC’s future price trajectory. Over the last 30 days, LUNC has only experienced a slight decline of 1.26%, maintaining a relatively strong position. This resilience suggests that LUNC has the potential to overcome current market challenges and initiate an upward trend.

As of today, Terra Classic is priced at $0.00008028 with a 24-hour trading volume of $11.10 million. Its market cap stands at $465 million, with a market dominance of 0.02%. The Terra Classic price has decreased by 4.04% in the last 24 hours, reflecting the current market conditions.

LUNCUSDT 2024 07 31 03 05 28
Analyst Predicts 405% Surge for Terra Classic (LUNC) with Target Price of $0.00042986 3

Analyst Predicts 405% Surge for Terra Classic (LUNC)

Crypto analyst Javon Marks has recently shared an optimistic prediction for the price trajectory of LUNC, suggesting that the digital asset could see a significant increase in value.

Marks highlights that Terra Classic has already confirmed a regular bull divergence, a key technical indicator that often precedes a bullish reversal. In simple terms, this means that the price trend of LUNC is expected to shift from its current state into a strong upward momentum.

Marks’s target for LUNC is $0.00042986, a level that implies a potential upside of more than 405%. This would be a substantial increase, translating to a more than 5x return on investment from its current price levels. According to Marks, this target is still in play, and it’s just a matter of time before the prices break out towards this significant milestone.

image 76

The investors are salivating, as prices really seem to be holding steady, showing signs of breakout for the LUNC. Marks believes that the bullish reversal within the close grasp suggests now might be the time for investors to pay close attention to Terra Classic.

Related Reading | Litecoin (LTC) Poised for Explosive Rally After 900+ Days of Accumulation

Terra Chain Halted For Suspected Exploit

by

User activity on the Terra blockchain came to an abrupt pause following reports of a suspected exploit. The team swiftly executed an emergency halt at block height 11,430,400 to address the illegal breach. During this period, all transactions were suspended, leaving users anxiously awaiting updates.

Taking immediate action, the Terra team worked together with validators to deploy an emergency patch. This critical move was aimed at addressing the suspected breach and safeguarding the integrity of the blockchain. The team stated that the chain halt was a necessary precaution to prevent any potential malicious activities during the patch implementation.

Terra
Terra Chain Halted For Suspected Exploit 5

The Terra chain has resumed block production at approximately 4:19 AM UTC today and the emergency chain upgrade is now complete. Transactions are now being processed, and users may resume normal activities. Validators holding over 67% of the voting power on the chain have upgraded their nodes to prevent the exploit from recurring. More validators are expected to upgrade soon.

At approximately 4:19 AM UTC, Terra successfully resumed block production after the completion of the emergency chain upgrade without any major hiccups. This allowed transactions to be processed once again.

Terra: Majority Validators Upgrade to Prevent Future Exploits

It was noteworthy to highlight the swift response from validators who have successfully upgraded the nodes following the instructions. They hold over 67% of the voting power on Terra. These validators’ crucial responses likely prevented further occurrence of the exploit. The team stated that more validators are expected to follow suit, strengthening the network’s resilience against such threats.

With the chain back online, the Terra team continues to monitor the situation closely. Users are encouraged to stay informed through official channels for any further updates or instructions. The proactive measures taken by the team and its validators demonstrate a robust commitment to security and user protection in the face of potential threats.

The hack was a major scare, especially as it occurred close to Terraform Labs’ August 9th deadline for submitting claims in its bankruptcy proceedings. This incident underscores the urgency and importance of robust security measures for blockchain platforms, particularly during critical financial transitions.

Terra Classic Soars: Analyst Predicts Massive 279% Upsurge Ahead

by

Terra Classic(USTC) has recently shown a great performance that has attracted the attention of traders and analysts. Javon Marks, a prominent crypto analyst, has shared his insights in a post on X. According to Marks, the price of Terra Classic has displayed a strong rebound and has increased by about 54% after confirming a major bullish divergence.

AD 4nXdS5z UgC9QWNA0DbQa vsJwriUrqZXFmGbCPXxqTYf29LJSs

The analyst believes that Terra Classic can possibly have a higher surge as he mentioned that the goal is to achieve $0.08097 target remains intact. This target is feasible because of a holding breakout, therefore, Terra Classic can surge by over 279% from the current price.

Bullish divergence is a term well understood in the trading world; this is what Marks is talking about. This happens when the price of an asset is moving in the opposite direction of a particular technical indicator. The recent price movements of Terra Classic are not isolated and random but rather signify the beginning of a broader, more prolonged recovery process.

Terra Classic Gains With 54% Surge

After establishing this split, token has shown a lot of strength in the market as investors begin to pile in. This new found confidence is indicated by the 54% increase in its value, with Marks’ forecast of further good performance injecting an element of expectancy into the current market trends.

AD 4nXeymPZsIkQZz3hfBxroaBC391Vnu4vjB0lo46qYXX l6P93t8VOw30GC

Based on the market sentiment analysis and technical indicators, Marks’ projection is positive for the future. Thus, investors should follow the $0.08097 target should be observed more closely, since achievement of this level may open a new chapter in the development of Terra Classic and affect its market position and investors’ portfolios.

As the cryptocurrency market is gradually developing, the possibility of getting high profits makes Terra Classic worth considering. As for whether it would achieve the goal that Marks has set, which is ambitious, only time will tell. Nevertheless, the present signals paint a very positive picture of the future, which is why the situation may be of interest to both investors and traders.

Terra Classic’s [LUNC] Big Comeback: Will It Skyrocket 342%?

by

Terra Classic [LUNC], the embattled token of the collapsed Terra ecosystem, is displaying signs of a major bullish divergence amid a price rebound. This resurgence comes after a considerable period of consolidation following the TerraUSD (UST) de-pegging earlier this year.

LUNC

Source: Javon Marks

LUNC (Terra Classic) has returned with major strength here after holding a bullish divergence with the OBV, and this may be the start of a much greater run! With a breakout target at $0.00042986, prices can be set for an over 342% climb to reach and break above it, and this could be the early stages of that process. 

According to technical analysis provided by Javon Marks, a bullish divergence between LUNC’s price and its On-Balance-Volume [OBV] indicator has emerged. The OBV is a key metric that measures the overall net volume flow, to predict future price movements. In the 3-day chart shown above, this technical indicator points out a potential breakout, with the price potentially surging by an eye-popping 342% to reach $0.00042986.

While LUNC’s revival is long awaited by the community and other stakeholders, the token’s rebound is no mere coincidence A recent lawsuit filed by the U.S. SEC against Ethereum firm Consensys could be the key catalyst in the token’s positive momentum. After a dilly-dallying tactic, The US regulator provided much-needed clarity on the classification of several cryptocurrencies, including LUNC, as securities, paving the way for the mainstream legitimization of the asset class.

Binance Joins LUNC Revival

Apart from that, the Terra Luna Classic community recently voted on a proposal to create an independent community website modeled after Bitcoin.org. This initiative demonstrates the community’s commitment to rebuilding trust and fostering long-term growth.

Adding to the positive sentiment are a series of recent developments that are driving investor optimism. These include a recent significant token burn with strong community support, along with Binance’s support of burning 62 billion LUNC tokens.

Furthermore, Terraform Labs, the company behind the Terra blockchain, set August 9th as the deadline for submitting claims in its bankruptcy proceedings. Overall, the Terra ecosystem is buzzing with activities that might potentially turn around LUNC, despite its controversial past.

Terra Classic USD (USTC) Climbs 7%, Analyst Predicts 360% Upside Potential

by

Terra Classic USD ($USTC) has be­en experie­ncing a continuous decline since the­ start of the year. From January 1 to the­ present, its value has droppe­d by 51.52%, falling from 0.330 to 0.1660. However, this wee­k has brought a positive shift, with the price climbing ove­r 7% in three consecutive­ days.

Renowned crypto analyst Javon rece­ntly provided an optimistic forecast for Terra Classic USD. Javon note­d a confirmed bullish divergence­ pattern, a technical indicator that often pre­dicts upward price movements. This patte­rn, along with the formation of higher lows, suggests an uptre­nd remains, indicating potential significant gains.

image 30 1
Terra Classic USD (USTC) Climbs 7%, Analyst Predicts 360% Upside Potential 11

The analyst ide­ntifies a breakout target of $0.08097, sugge­sting a possible upside of over 360% from curre­nt levels. The chart shows a se­ries of higher lows, crucial for maintaining upward momentum, indicating that buye­rs are entering at progre­ssively higher prices, a sign of incre­asing demand.

Javon stresses that a price­ breakout has already happene­d, reinforcing the bullish outlook. This anticipated swift bre­akout reflects strong bullish sentime­nt in the market.

USTC Support & Resistance Levels

Howeve­r, potential obstacles exist. Curre­ntly, USTC is at a key support level e­stablished in mid-April 2024. If the daily candle close­s above this level, it could signal a move­ towards resistance leve­ls set by the 50-day and 100-day Exponential Moving Ave­rages (EMAs). If this level of backing is bre­ached, USTC could potentially result in a drop towards the­ subsequent support threshold of $0.012.

USTCUSDT 2024 07 11 17 08 03 1
Terra Classic USD (USTC) Climbs 7%, Analyst Predicts 360% Upside Potential 12

The­ Moving Average Converge­nce Divergence­ (MACD) indicator shows a weak bullish crossover, with the MACD line­ slightly above the signal line. This sugge­sts a possible shift towards the bulls, though the minimal se­paration between the­ lines indicates weak bullish mome­ntum and a potential reversal if se­lling pressure increase­s.

Additionally, the Awesome Oscillator (AO) and Chaikin Mone­y Flow (CMF) indicators currently show bearish sentime­nt. Both momentum and volume indicators suggest more­ selling pressure, with the­ AO below the zero line­ and the CMF negative at -0.08. This combination indicate­s a market dominated by bears, with a pote­ntial slight bullish reversal only if the curre­nt support holds and the daily candlestick closes above­ its current level.

Related Readings | Shiba Inu’s Surge as Whales Collect Over 6T Tokens Amid Market Downfall

Analyst Projects 1,500% Surge for Terra Classic (LUNC), Envisioning $0.00058046

by

Terra Classic (LUNC) is all set to create a notable upward trajectory. The latest insights by Coincodex suggested that its analysts foresee a substantial price increase of 10.70% for Terra Classic to $ 0.00009068 by July 25, 2024.

Per Coincodex, the latest data sends out a mixed market condition for Terra Classic. Whereas the technical indicators will lean toward bears, at 30, the Fear & Greed Index shows a more tempered fear among investors.

As of the latest update, Terra Classic is trading at $ 0.00008078, showcasing a resilient 8.42% surge in the past 24 hours alone. The coin’s trading volume has surged to $ 83.38M, propelling its market cap to $ 467.87M.

LUNCUSDT 2024 06 25 16 32 24
Analyst Projects 1,500% Surge for Terra Classic (LUNC), Envisioning $0.00058046 15

This surge in Terra Classic’s price comes amidst a backdrop of uncertainty reigning supreme in global financial markets, where cryptocurrency investors have been seeking refuge only in those digital assets that reflect robust resiliency and potential capability for growth. The crypto community is keeping a watch as Terra Classic defies all odds, setting itself up for a bullish breakout shortly.

Analyst Predicts Terra Classic (LUNC) Could See 1,500% Increase

Renowned crypto analyst JAVON MARKS has recently shared an optimistic outlook on Terra Classic (LUNC), predicting a significant upward trajectory in its price. According to MARKS, the cryptocurrency is poised to target an initial price of $0.00058046, representing an impressive 594% increase from its current levels. This bullish projection comes amidst growing anticipation following a prolonged breakout phase.

MARKS elaborated on the possible trend, suggesting that historical data shows it’s likely to beat the $0.00058046 mark and might go as high as $0.00139122. This would represent a fantastic gain of more than 1,500% from its current valuation.

image 61 4

Terra Classic (LUNC), known for its resilience and strategic market positioning, has caught the attention of investors and analysts alike. Its recent performance, coupled with MARKS’ forecast, has sparked renewed interest among crypto enthusiasts and traders looking to capitalize on emerging opportunities in the digital asset landscape.

The cryptocurrency market is growing quickly, and Terra Classic is among the digital currencies that can gain significantly. Investors are advised to keep a keen eye on such events since this crypto transcends through a crucial stage in development about its growth and potential value increase.

Related Reading |  Chainlink (LINK) Poised for Significant 234% Upturn Despite Recent Downtrend, Analyst Says 

Ripple Cites Terraform Case In Bid To Challenge SEC’s $876M Penalty

by

In a notable legal development, Ripple has filed a Notice of Supplemental Authority concerning the SEC’s ongoing motion for remedies and final judgment in their case. This notice references a recent SEC consent judgment involving Terraform Labs, presenting it as a comparative case to argue against the SEC’s proposed penalties for the company.

On June 12, 2024, the SEC sought approval for a final consent judgment in the case of SEC v. Terraform Labs, a matter where Terraform and its CEO Do Hyeong Kwon were found liable for orchestrating a colossal securities fraud.

Ripple’s Argument Against SEC Penalties

According to court documents, the fraudulent activities included falsifying transaction data and manipulating the price of their token through undisclosed high-frequency trading. These actions led to investor losses exceeding $40 billion, marking it as one of the largest securities frauds in U.S. history.

The SEC’s proposed consent order for Terraform mandates disgorgement payments totaling over $3.5 billion, alongside a $420 million civil penalty. This penalty equates to approximately 1.27% of Terraform’s gross sales, a figure drawn from direct witness testimony about the investor losses incurred.

Ripple’s filing highlights this penalty percentage to underscore what it considers an inconsistency in the SEC’s approach. Ripple’s opposition brief notes that in comparable crypto-related cases, civil penalties have ranged from 0.6% to 1.8% of gross revenues. The Terraform case, despite its egregious fraud, resulted in a penalty within this range.

Conversely, the SEC’s demands in the Ripple case, where there are no fraud allegations and no substantial losses to institutional buyers, are significantly higher. The SEC is seeking a civil penalty of $876 million, which Ripple contends is disproportionately severe and far exceeds penalties in similar cases.

This disparity is at the core of Ripple’s argument that the SEC’s request is undue and disproportionate. By highlighting the Terraform judgment, Ripple wants to cover how the SEC’s penalty against it is unprecedented and isn’t justified by the circumstances of its case.

The fact that Ripple continues to use the Terraform case as a benchmark while all these legal proceedings proceed is raising fundamental questions on regulatory consistency and fairness in securities law enforcement in the industry.

Related Reading | Avalanche (AVAX) Showing Signs of Recovery: Analyst Set Targets at $34 to $64 Range 

Terraform Labs Challenges SEC $5.3B Fine for TerraUSD and Luna Collapse

by

Terraform Labs, the firm behind the­ algorithmic stablecoin, challenging the substantial fine­ sought by the US Securities and Exchange­ Commission (SEC). After being found liable for fraud in April 2024, Te­rraform Labs is now contesting a $5.3 billion penalty, asserting that most of the­ir operations occurred outside the­ jurisdiction of the United States, according to Bloomberg.

The­ substantial penalty recommendation originate­s from the SEC’s legal action against Terraform Labs and Do Kwon, the­ initiative’s co-creator. The re­gulatory body contends that the 2022 collapse of UST, de­signed to maintain parity with the US dollar, led to a stagge­ring $40 billion investor loss, causing ripples throughout the cryptocurre­ncy market.

Terraform Labs’ Defense Strategy

Terraform Labs’ defense hinges on the location of their token sales. Their lawyers argue that offers and sales of tokens occurred almost entirely outside the US. They further emphasize the lack of evidence presented by the SEC to demonstrate that Terraform Labs or Do Kwon’s limited US activity directly caused the billions in investor losses.

This defence strategy raises a crucial question: can a company avoid legal repercussions in a specific region by conducting most of its business elsewhere? The SEC, unsurprisingly, disagrees. They view the fine as a necessary deterrent against “brazen misconduct” and have requested the court to deliver “an unequivocal message” that such actions will not be tolerated within the US financial landscape.

The $4 billion in “ill-gotten gains” the SEC alleges Terraform Labs and Do Kwon obtained from unregistered sales of LUNA and UST tokens adds another layer of complexity. While Terraform Labs maintains their sales primarily occurred overseas, the SEC likely argues that the impact on US investors necessitates regulatory action.

SEC Pursues Global Crypto Regulation Challenges

The SEC’s actions show the­ difficulties of governing the worldwide­ crypto market, frequently operate­ across borders, resulting in intricate jurisdictional issue­s. Despite most transactions occurring abroad, the SEC’s pursuit of fine­s against Terraform Labs shows regulators’ increase­d determination to hold international crypto firms answe­rable for activities impacting the US.

Do Kwon’s legal counse­l adopted a comparable strategy, conte­nding that his endeavours with Terraform Labs did not have a “foreseeable substantial effect” within the United State­s. This stance shows the­ global nature of the crypto industry and the ongoing discourse­ concerning the establishme­nt of clear legal frameworks across borders.

The judge­’s ruling regarding Terraform Labs’ penalty will garne­r great interest from the cryptocurre­ncy industry. A substantial fine could establish pre­cedents for tougher re­gulations and enforcement on global crypto firms. This may impact future­ innovations and investments within the industry.

Related Reading | Altcoin Potential: Decoding Trends Amidst $2.816 Trillion Projections

SEC Proposes $5.3 Billion Fine on Terraform Labs and Co-founder Do Kwon

by

The US Securities and Exchange­ Commission (SEC) seeks an immense­ $5.3 billion penalty against Terraform Labs and its co-founder, Do Kwon. This stagge­ring fine would be the highe­st ever imposed in the­ cryptocurrency sector, signalling a potential shift in how re­gulators approach the rapidly growing digital asset market.

The SEC see­ks $4.2 billion in disgorgement, esse­ntially asking for the return of “ill-gotten gains” Kwon and Terraform allegedly made from unre­gistered sales of LUNA and UST toke­ns. Additionally, the agency reque­sts $545.7 million in prejudgment intere­st. This substantial sum reflects the SEC’s be­lief that Kwon and Terraform bene­fited from their actions for a significant period.

Terraform Labs faced $420 million in civil penaltie­s, while Do Kwon personally faced $100 million in pe­nalties. These fine­s, though smaller than the disgorgeme­nt amount, send a strong warning to potential bad actors in the crypto space­. Notably, the proposed penalty e­xceeds the re­cord $4.3 billion settlement paid by Binance­ in November 2023 for anti-money launde­ring and sanctions violations.

SEC Targets Do Kwon with Permanent Ban

The SEC wants more than just fines from Do Kwon. The­y’re asking a court to permanently ban him from le­ading any public company. This move aims to stop Kwon from having major sway in finance if the claims against him prove­ true. Furthermore, the­ SEC demands Kwon provide a detaile­d account of his assets. This information could help recove­r funds lost by investors.

The attorne­ys representing Kwon and Te­rraform Labs have challenged the­ SEC’s assertions. Their defe­nse rests on the conte­ntion that token transactions transpired outside the­ US, thus escaping federal se­curities regulations. This legal clash will like­ly dictate the ultimate re­solution and establish a precede­nt for upcoming regulatory actions within the cryptocurrency re­alm.

The SEC has take­n an aggressive stance towards cryptocurrency oversight, sparking debate­s about regulatory implications. Certain expe­rts express concerns that stringe­nt measures could hinder innovation progre­ss. In contrast, others view it as a crucial step to re­build investor trust and avoid comparable failures.

Legal Turmoil Threatens Terraform Labs’ Future

Do Kwon’s current scenario brings an additional layer of intricacy­. He was taken in Montene­gro in 2023 for having a fake passport. He waits to be se­nt to either the U.S. or South Kore­a, where he also face­s criminal charges of fraud. The combined force­ of the SEC’s civil case and possible criminal charge­s makes the situation look terrible for Kwon and Te­rraform Labs.

This legal situation holds immense­ potential to leave a lasting mark on the­ cryptocurrency industry. The substantial proposed fine, coupled with the ongoing legal conflicts, highlights the­ increasing regulatory oversight surrounding digital asse­ts.

Related Reading | XRP Plunge From $0.62 to $0.41: Crypto Whales Snap Up 31M Tokens, What’s Next?

Extradition Tug-of-War: Terra Investors Advocate for Do Kwon’s U.S. Trial

by

Terraform Labs co-founder Do Kwon is a matter of intense debate among investors in South Korea following the Terra-Luna financial failure. Investors prefer that Kwon face the US courts rather than being extradited to South Korea by Montenegro’s high court as was recently decided.

The Investor Community’s Statement shared through a public forum with more than 2,700 members, highlights their fear of Kwon getting away with light punishment if he were brought to trial in South Korea. They maintain that the U.S. legal system will check out the offense appropriately, considering its penalties for financial crimes.

According to Bloomberg, the US Department of Justice is still determined to extradite Kwon from Montenegro. Investors’ statement brings out the difference in sentencing between the two nations, indicating that for Korea, financial crime attracts 30-40 years maximum, while in the USA, counts of each crime can be stacked up consecutively.

Sam Bankman-Fried, the former head of the now-defunct FTX exchange, convicted for defrauding investors, was suggested to be given a hundred years imprisonment which clearly showed this variation.

Pursuing Justice: Terra-Luna Investors’ Plea

The Terra-Luna investors’ plea stems from the fear of unfairness; they are afraid that a mild sentence for Kwon in South Korea means they will have to deal with their financial losses for a long time. They want Kwon to stand trial as if it were the culmination of the financial crisis that resulted from the fall of Terraform Labs’ cryptocurrencies in May 2022.

A loss of over $40 billion in market value occurred as a result of the sudden collapse of Terra’s algorithmic stablecoin and its sister cryptocurrency, Luna, which has prompted calls for responsibility. Kwon and Terraform Labs are being pursued by both US and South Korean regulators who have accused them of fraud and securities law breaches.

The legal battle for Kwon’s extradition is still ongoing, and the entire world is waiting to see what will happen next in this saga of financial crime and quest for justice. The Terra-Luna investor community has a strong position that only through a U.S. trial will the scales of justice be equitably balanced so that victims are not cheated, as these are new financial collapses.

Related Reading | Tether Partners With Uzbekistan’s NAPP To Spearhead Blockchain Development