Terraform Labs’ Bankruptcy Hearing: Impact on LUNA, LUNC, USTC Prices
- LUNA, LUNC, and USTC are the three cryptocurrencies linked to Terraform Labs.
- All three Terraform ecosystem tokens show variations ahead of the bankruptcy hearing.
- The court has scheduled Terraform Lab’s bankruptcy hearing for September 19.
LUNA, LUNC, and USTC, the three cryptocurrencies tied to Terraform Labs, have shown mixed performance in the weeks leading up to the company’s bankruptcy plan hearing, scheduled for September 19. The court will decide whether to approve Terraform Labs’ restructuring plans or force it to liquidate.
Less than three weeks to the hearing date, LUNA, the native crypto of the public protocol that emerged from Terra Classic, has been particularly volatile. It recently experienced a surprise 184% rally, surging from $0.000030 on August 20 to $0.000084 in just one week.
The recent rally saw the altcoin break above a double-top around $0.000056 before registering a new yearly high. However, the price pulled back slightly to test a newly created Fibonacci support around $0.000070 at the time of writing, according to data from TradingView.
LUNC’s price pattern differs slightly from LUNA’s,…
The post Terraform Labs’ Bankruptcy Hearing: Impact on LUNA, LUNC, USTC Prices appeared first on Coin Edition.
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