The price of Terra Luna Classic has experienced a slight dip, decreasing by 1.5% recently, amidst ongoing legal proceedings involving Terraform Labs.
Legal Hurdles and Price Impact
Terraform Labs and its co-founder, Do Kwon, are currently in a legal tussle with the SEC. Their attorneys have approached a judge in New York, seeking dismissal of the case. This legal battle comes as LUNC’s price stands at $0.00006493, reflecting a 6% increase over the past week and a 13% rise over two weeks. Despite these gains, the price is still 73% lower than it was a year ago, indicating a potential long-term downward trend that could be exacerbated by the legal issues at hand.
Potential for Recovery
Despite the challenges, the dedicated community around Terra Luna Classic is actively striving to revitalize the altcoin and its platform. Their efforts suggest that there might be room for optimism and possible price recoveries in the future.