LUNC Price Surges 23 Percent in Eight Hours as Terraform Lawsuit Against Jane Street Gains Momentum
Terra Classic LUNC recorded a sharp 23 percent price increase within just eight hours, drawing significant attention from traders and the broader crypto community. The sudden move comes amid renewed developments surrounding legal action connected to the 2022 Terra ecosystem collapse.
Lawsuit Developments Spark Market Reaction
The recent surge appears to be closely linked to growing momentum in the lawsuit filed by Terraform Labs against Jane Street. The case centers on allegations of market manipulation tied to the historic Terra crash in May 2022.
According to circulating reports, additional evidence related to the case has started to surface. This renewed attention has reignited debate across the crypto space, with many investors reassessing the potential long term impact on Terra related assets.
Previously, Jane Street publicly denied the accusations. However, recent developments have intensified speculation, especially after observers noted that Jane Street removed all of its posts from X, formerly known as Twitter.
Understanding the LUNA to LUNC Transition
For those unfamiliar with the background, the original LUNA token collapsed during the Terra ecosystem failure in 2022. Following the crisis, the original chain was rebranded as Terra Classic, and LUNA was renamed LUNC, short for Luna Classic.
The rebranding marked a structural shift within the ecosystem, separating the new Terra chain from the legacy network. Since then, LUNC has remained an actively traded asset, supported by a community driven revival effort.
Market Sentiment Turns Aggressive
The 23 percent jump in just eight hours reflects a strong shift in short term market sentiment. Legal narratives often play a powerful role in crypto price action, particularly when tied to major historical events such as the Terra collapse.
Traders appear to be positioning ahead of potential further revelations connected to the lawsuit. While volatility remains high, the surge signals renewed speculative interest in Terra Classic as developments continue to unfold.
As the legal process progresses, the crypto market will likely monitor every update closely. For now, LUNC has regained momentum, driven by a mix of legal intrigue, community speculation, and renewed attention surrounding one of crypto’s most dramatic collapses.
