LUNC (Terra Classic) Update: Lawsuit Drives 40% Price Explosion as Profits Rotate Into HYPER Presale
A lawsuit against Jane Street related to the 2022 Terra collapse caused a 40% price surge in LUNC, with profits now shifting towards the HYPER presale.Summary
Terra Classic’s LUNC token experienced a significant price increase of up to 40% following a lawsuit filed by the bankruptcy administrator of Terraform Labs against trading firm Jane Street. The lawsuit alleges that Jane Street exploited non-public information during the 2022 TerraUSD depeg, contributing to the $40 billion in investor losses and the subsequent LUNC 'death spiral'. While LUNC saw a substantial pump, it has since retraced 15.6%, and traders are reportedly moving profits into the Bitcoin Hyper (HYPER) presale.
HYPER is a Layer 2 network for Bitcoin aiming to improve transaction speeds and reduce fees by integrating the Solana Virtual Machine (SVM). It allows users to deposit BTC and receive Wrapped Bitcoin on the L2, enabling access to DeFi services and staking with a potential APY of up to 37%. The HYPER token will be used for gas fees, staking, and governance.
The HYPER presale is gaining traction as investors seek opportunities within the Bitcoin ecosystem, with the current price at $0.0136762 per token. Investors can participate through the official website or the Best Wallet app, using various cryptocurrencies or bank cards.
(Source：Cryptonews)