The price of the Terra crypto assets, luna (LUNA) and luna classic (LUNC), plummeted on September 14 with falls of up to 30%. The drop came following a South Korean court issued an arrest warrant for Do Kwon, the network’s founder, and others involved. They are accused of “violating the Capital Markets Law.”
Thus, The fall that LUNA and LUNC had been making in the last 7 days worsens, following the important rise they had since the end of August. With the crash they suffered in a week, they lost a third of the 500% rise they had achieved in less than a month. Such growth was fueled by the launch of a network catalyst.
According to data from CoinGecko, LUNA experienced a drop in its market capitalization of USD 300 million and away of USD 700 million. This scenario comes 4 months following the collapse of the Terra ecosystem and its algorithmic stablecoin (UST), which fueled this year’s crypto winter.
After the sharp drop they saw in the morning, they seem to have found a momentary bottom and rose slightly. At the time of publishing this article, LUNA is trading at $2.88 while LUNC is at $0.00028, which means a 17% depreciation so far today.
Meanwhile, the cryptocurrency with the largest market capitalization, bitcoin (BTC), if you are trading in the USD 20,000. And got an increase in the day of 1.8%, showing support at this price following falling from $22,000 the day before for the US inflation announcement not as positive as expectedreported in CriptoNoticias.
