Terra (LUNA) Surges Over 55%: Here’s What’s Driving the Rally
Terra (LUNA) surged over 55% due to a network upgrade and heightened attention surrounding founder Do Kwon's sentencing.Summary
Terra (LUNA) experienced a significant rally, appreciating by 55.58% over 24 hours to reach $0.232, making it the second-largest daily gainer on CoinGecko, with trading volume surging 192.10% to over $700 million. This sharp increase is attributed to the recent v2.18.0 network upgrade, supported by major exchanges, and the impending sentencing of founder Do Kwon, for whom the Department of Justice is seeking a 12-year prison term. While some analysts suggest the sentence might be lighter than requested, others, like Toknex, warn that the rally is not a genuine recovery, viewing it as community-driven trading pressure on an ecosystem that fundamentally died in 2022. The renewed attention has also boosted Terra Luna Classic (LUNC), pushing both tokens onto CoinGecko's trending list.
(Source：BeInCrypto)