After the return of Terra’s founder Do Kwon, the rise of Terra Classic (LUNC) and Terra (LUNA) aroused great enthusiasm.
According to the court decision in Podgorica, the capital of Montenegro, it approved the extradition of Terra founder Do Kwon to South Korea or the USA. Kwon was arrested in the country in March after being caught with forged documents at Podgorica airport. It was stated that the final decision on Kwon’s extradition will be made by the Montenegrin Minister of Justice after he serves his four-month prison sentence in Montenegro for forgery of documents.
After these developments regarding Do Kwon, there was a great movement in the Luna ecosystem. The ecosystem, which stands out with many metrics, attracted attention by creating an agenda after a long time.
Developments regarding Do Kwon made investors happy!
Following his arrest in Montenegro, Kwon faced multiple fraud charges from US federal prosecutors, in addition to existing civil charges in the US and an ongoing investigation in South Korea into last year’s TerraUSD collapse.
Earlier this month, the Supreme Court of Montenegro upheld the four-month prison sentence of Kwon and his partner Han Chang-Joon for document forgery. However, despite all this, the decision to extradite Do Kwon to South Korea or the USA turned the needle into a positive one, bringing about an increase in LUNA coins.
While LUNC topped the “Top Rising” list with an increase of 26.22 percent in the last 24 hours, LUNA followed right behind with an increase of 15.43 percent.
It became a trending topic on social media!
The impact of LUNC and LUNA taking flight was observed on social media platforms. Especially the increasing shares on X (formerly Twitter) managed to bring LUNC to the trends. The number of posts made with the LUNC hashtag reached nearly 35,000 in a very short time. Backed by both fundamental and technical analysis as well as social metrics, the popular coin continues to arouse curiosity among crypto investors.
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