Summary
TLDR: LUNA, the rebooted version of the original cryptocurrency that collapsed in 2020, saw a surprise rally but is still far from its former glory. The price jumped 77% but quickly fell back down. The founder, Do Kwon, is facing legal troubles and may be extradited to the US or South Korea. Despite the uncertainty, some supporters remain optimistic about the future of LUNA.
Key Points
1. LUNA, the rebooted version of the original native token of the now-defunct Terra ecosystem, made a surprise rally on Tuesday, jumping 77% in just two hours.
2. LUNA’s price jumped from $0.83 to $1.47 on marginally encouraging news about Terra’s currently incarcerated founder, Do Kwon, but the gains aren’t holding, with the price already falling to $1.12.
3. Dreams of Kwon escaping legal consequences may be fanciful, as his case returns to a lower Montenegro court for ruling on his extradition, potentially facing trials in both the United States and South Korea.