Do Kwon, the creator of Terraform Labs, has been spared from extradition to the U.S. following a decision by a Montenegro court to overturn a previous ruling. The Appellate Court of Montenegro has nullified the earlier decision made by a court in Podgorica, sending the case back for reconsideration and a new verdict. Kwon had lodged an appeal against his extradition to the U.S., where he is wanted on charges of fraud stemming from the collapse of the Terra ecosystem. Will the LUNC price reach $1? Let’s take a look at this LUNC price prediction article in more detail.
It looks like Do Kwon, the person who started Terraform Labs, might not have to go to the United States after all. A court in Montenegro changed its mind and said he doesn’t have to be sent there. They’re sending the case back to another court to think about it some more and make a new decision.
Kwon didn’t want to go to the U.S., where they were accusing him of doing some bad things related to the Terra ecosystem falling apart. He appealed against being sent there.
Terra had a big problem back in 2022, and a lot of people lost a ton of money. Kwon ran away to Montenegro after that happened, but they caught him and put him in jail for having fake documents. Right now, he’s in prison for four months while Montenegro figures out what to do about the extradition requests from the U.S. and South Korea.
The governments of the U.S. and South Korea both want him to come back to face charges for what happened with Terra. The court said they need to look at everything again because they are not sure about some important details regarding the extradition requests from both countries.
LUNC price prediction: How has the LUNC price moved in recent days?
Today, the price of Terra Classic is $0.000248, and it’s been a busy day with a trading volume of $483.88 million. The market cap for Terra Classic is $1.44 billion, and it currently holds 0.06% of the overall market. Over the past 24 hours, the price of LUNC has gone up by a whopping 37.59%.
The highest price ever reached by Terra Classic was on April 5, 2022, hitting an all-time high of $119.01. On the flip side, the lowest price for Terra Classic was recorded on May 13, 2022, dropping to an all-time low of $0.00001651. Since reaching its all-time high, the lowest price for Terra Classic has been $0.00001651 (referred to as the cycle low), while the highest price since the last cycle low was $0.000590 (known as the cycle high).
Right now, the sentiment regarding the future price of Terra Classic is neutral, but the Fear & Greed Index is showing a high level of greed at 90 (classified as Extreme Greed).
LUNC Price To Reach $1 Soon?
The price of LUNC has been on a roll lately, shooting up by a whopping 73% over the past year. And the good news keeps coming, with a 37.22% surge in the last 24 hours and an additional 12.25% bump in just the last hour. Out of the last 30 days, LUNC has been in the green for 17 of them, showing that people are feeling pretty optimistic about it.
Plus, it’s got plenty of cash flowing through it, thanks to its large market cap. Right now, you can snag a piece of LUNC for $0.000248, even though the yearly inflation rate is in the negative at -3.18%.
While we can’t say for sure if LUNC will hit $1 anytime soon, given its recent performance and the way things are shaping up in the market, it wouldn’t be surprising to see it get pretty close. Just remember, investing in cryptocurrencies can be risky, so make sure to do your homework before diving in.
Right now, LUNC is trading at $0.000248. If it wants to hit $1, it’s got quite a climb ahead—it needs to bridge a gap of $0.999752 ($1 – $0.000248). In simpler terms, the price of LUNC would have to skyrocket by about 4032 times its current value.
While that might sound like a huge leap, LUNC has shown some promising signs lately. Over the past year, it’s gone up by 73%, which suggests there’s potential for more growth. Plus, in the short term, it’s been doing pretty well, with some decent gains in the last 24 hours and even just within the last hour.
But getting to $1 would take some serious momentum and a lot of faith from investors. It’s tough to say for sure when—or if—LUNC will reach that milestone, but keeping an eye on how the market moves could give us some clues.
Apart from this while Kwon’s recent legal win is a positive development, it doesn’t guarantee that he won’t be extradited in the end. The case is simply going back to the original court for another round of hearings. So, for now, Kwon’s extradition is on hold, but it’s not off the table entirely.
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