Terra Luna Classic (LUNC) Price Rallies 40% Ahead of Do Kwon Sentencing

TLDR

• Terra Luna Classic (LUNC) price jumped over 40% on December 5, reaching $0.000042, its highest level since November 3
• Do Kwon will be sentenced in a U.S. court on December 11 after pleading guilty to fraud charges related to the $40 billion Terra collapse
• The burn rate spiked with 849 million LUNC tokens removed in the past seven days, bringing total burns to 426 billion tokens
• Trading volume surged 910% to $112 million in 24 hours, while futures open interest climbed to $5.46 million
• Binance will support Terra Classic’s network upgrade (v3.6.0) scheduled for December 8, which includes security improvements and Cosmos chain integration

Terra Luna Classic rallied sharply on December 5, with its price climbing to $0.000042. This represents a 72% increase from its monthly low and marks the highest level the token has reached since November 3.

The price surge came during a period when most of the crypto market experienced declines. Trading volume for LUNC jumped 910% to reach $112 million in a 24-hour period.

Futures market activity increased as well, with open interest rising to $5.46 million. This marks the highest level of futures open interest since November 28.

Do Kwon, the founder behind the original Terra ecosystem, faces sentencing in a U.S. court on December 11. He pleaded guilty to charges including conspiracy to commit commodities fraud, securities fraud, and wire fraud.

The collapse of Terra in 2022 resulted in losses exceeding $40 billion for investors. Legal experts expect Kwon to receive a lengthy prison sentence due to the scale of the financial damage.

Token Burns Drive Supply Reduction

The Terra Classic community has ramped up its token burning efforts in recent days. Data shows 849 million LUNC tokens were removed from circulation over the past seven days.

Since burn initiatives began in May 2022, the community has destroyed over 426 billion tokens. This represents roughly 8% of the total supply.

Binance leads the burning efforts, having removed over 75 million tokens. The exchange has pledged to burn all trading fees it collects from LUNC transactions.

The circulating supply has dropped to approximately 5.55 trillion tokens. A 0.5% transaction tax contributes to ongoing supply reduction.

Network Upgrade Scheduled

Binance announced support for Terra Classic’s upcoming network upgrade, version 3.6.0, set to launch on December 8. The upgrade brings enhanced security features and improved connectivity with Cosmos blockchain networks.

The update also includes fixes designed to stabilize the LUNC-USTC pairing. Community sentiment has turned positive, with bulls outnumbering bears 86% to 14%.

Over 1 trillion LUNC tokens are currently staked on the network. This locked supply provides additional price support.

The token formed a double-bottom pattern on its daily chart before the recent rally. LUNC broke above its 50-day moving average during the surge.

The Relative Strength Index reached 76, entering overbought territory. Trading indicators suggest strong buying momentum, though some analysts warn a pullback could occur.

Support has established at $0.000030, while resistance levels sit at $0.000041 and $0.000045. The network upgrade takes place on December 8, 2025.

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