Terra (LUNA) Price Prediction 2025-2030: How long will LUNA face the heat?
Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.
According to a South Korean news report published on March 30, the United States may have gained an advantage in a race with South Korea to extradite Terraform Labs CEO Kwon Do-hyung from Montenegro on fraud charges related to the collapse of the $40 billion Terra-Luna cryptocurrency project in May last year.
That’s not all either, with the Seoul Southern District Prosecutor’s Office seizing approximately $160 million in assets from eight individuals linked to the collapse of Terraform Labs.
Read Price Prediction for Terra (LUNA) 2023-24
Terra Luna (LUNA) was trading at $1.28 at press time; its current market cap stands at $312 million. Its future remains bleak as per most market experts.
It has now been nearly ten months since the Terra Luna project experienced a catastrophic collapse in May 2022. Later, major crypto exchange FTX collapsed in November 2022 and recently, the crypto-friendly Silicon Valley Bank (SVB) also collapsed.
Stablecoins, such as UST, were created to protect investors from the extreme price volatility of popular cryptocurrencies, such as Bitcoin (BTC).
As fiat currency is pegged to reserves such as gold, a stablecoin is pegged to either a fiat currency (e.g. USD) or a supporting cryptocurrency. In this case, TerraUSD was pegged to Luna. But herein lies the conflict. A cryptocurrency isn’t equivalent to gold reserves. As LUNA prices got destabilized, it had an impact on UST prices too, and the entire stablecoin system collapsed in the second quarter of 2022.
The stablecoin project was aimed at complementing the price stability and
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