BlockBeats News, December 6th, according to HTX market information, LUNC saw a 70.3% price increase in the past 24 hours, with a current market cap of $342 million; LUNA saw a 38.2% price increase in the past 24 hours, with a current market cap of $131 million. The surge in LUNC and LUNA may be related to market speculation about potential clemency for FTX founder SBF.
LUNC (Luna Classic, formerly LUNA) is the native token of the Terra Classic chain (formerly the Terra main chain), which was renamed after the market entered a deep bear market following the collapse of LUNA in May 2022. LUNA (the new version of Terra’s token) is the native token on the Terra 2.0 chain, which was reissued through a community proposal after the collapse of LUNA in May 2022.
The 2022 UST Depegging caused the LUNA price to plummet from $80 to near zero, causing a market cap evaporation of about $45 billion, making it one of the largest crashes in crypto history. FTX exchange platform and Alameda Research founder SBF was accused of manipulating this crash and was imprisoned. Recently, SBF has been speaking out intensively after his cellmate was pardoned, raising the possibility of him receiving clemency.
However, the prediction market on Polymarket currently places “Will Trump pardon SBF in 2025?” at an extremely low level of around 2%.
