LUNC Surges 40 Percent in 24 Hours, Outperforming Bitcoin and Major Altcoins Amid Renewed Terraform Lawsuit Developments
Luna Classic, widely known as LUNC, recorded a sharp 40 percent price increase in the last 24 hours, significantly outperforming Bitcoin and most major altcoins, which traded largely sideways during the same period.
The sudden rally has drawn renewed attention to the Terra ecosystem, particularly following new developments in the ongoing legal dispute between Terraform Labs and Jane Street.
Legal Developments Fuel Market Momentum
The primary driver behind the price spike appears to be growing market interest in the lawsuit filed by Terraform Labs against Jane Street. The case centers on allegations of market manipulation related to the Terra ecosystem collapse in May 2022.
According to circulating reports and community discussions, additional evidence is now surfacing that may support Terraform Labs’ claims. This renewed focus has reignited speculation across crypto markets, particularly among LUNC supporters.
Jane Street previously denied the accusations of market manipulation. However, community observers have pointed out that several posts related to the matter were reportedly removed from the firm’s X account, further intensifying speculation and debate.
While no final court ruling has been issued, the evolving legal narrative has clearly impacted short term market sentiment.
Understanding the Background: From LUNA to LUNC
For investors who are new to the story, LUNC was originally known as LUNA. Following the historic collapse of the Terra ecosystem in 2022, the original chain was rebranded as Luna Classic, with the token now trading under the ticker LUNC.
The collapse marked one of the most significant events in cryptocurrency history, affecting billions of dollars in market value and reshaping regulatory discussions worldwide.
Since then, the Luna Classic community has remained active, working on network upgrades, burn mechanisms, and ecosystem rebuilding efforts. The recent price surge reflects renewed confidence among segments of the community as legal developments unfold.
Market Reaction and Investor Sentiment
While Bitcoin and other leading altcoins showed limited movement over the past 24 hours, LUNC experienced a strong breakout. Such divergence suggests that the rally is driven by ecosystem specific catalysts rather than broader market momentum.
Trading volume has increased substantially alongside the price spike, indicating heightened investor participation and speculative activity.
It is important to note that legal cases of this magnitude can take time to resolve, and price volatility may remain elevated as new information emerges.
Outlook
The 40 percent surge positions LUNC as one of the top performing crypto assets of the day. Whether this momentum continues will largely depend on further legal clarity, community engagement, and broader market conditions.
For now, Luna Classic has once again entered the spotlight, outperforming Bitcoin and major altcoins as investors closely monitor the unfolding Terraform Labs versus Jane Street case.
