Can LUNA Re-Eclipse?

The Chronicles of Terra Luna continue as Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, gains new interest amongst investors.

• Terra Classic continues to receive support from various crypto entities allowing for speculative retail buy-pressure.
• According to on-chain data, the number of LUNC wallet holders increased by over 500% between May 9th and June 5th.

• The recent price rally seems retail-driven, and there are some indications that LUNC could live on within the market’s ‘meme coin’ sector.
• Additionally, the spike had followed an announcement by hacker activist group ‘Anonymous’.
• They stated they would be looking into Do Kwon, the founder of Terra, over his involvement in the crash as more evidence suggests the crash was intentional.

A recent study conducted by CoinDesk Korea and blockchain security firm Uppsala Security revealed that Terra Labs had near $3.6 billion in USDT and UST that could have been used to manipulate the price of LUNC (the old LUNA) or money laundering via centralised (CEX) and decentralised exchanges (DEX).