Terra Classic (LUNC) price in focus as Terraform Labs sues Jane Street – Crypto News – Crypto News
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Terra Classic (LUNC) price in focus as Terraform Labs sues Jane Street Terra Classic (LUNC) price in focus as Terraform Labs sues Jane Street

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Terra Classic (LUNC) price in focus as Terraform Labs sues Jane Street – Crypto News

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  • Terraform lawsuit vs Jane Street puts Terra Classic (LUNC) in focus.
  • Terra Classic (LUNC) shows technical resilience, eyeing $0.00003925 short-term.
  • 2026 price range is expected to be between $0.0000242 and $0.000510.

The price of Terra Classic (LUNC) has been under the spotlight as legal tensions surrounding its parent company, Terraform Labs, continue to unfold.

Investors are watching closely after news emerged that the administrator overseeing the wind-down of Terraform Labs has sued trading firm Jane Street. 

The lawsuit alleges the trading firm used non-public information from Terraform insiders to profit ahead of the collapse of TerraUSD in May 2022.

This legal move adds a new layer of uncertainty for LUNC holders.

Many remember that the original Terra blockchain was rebranded as Terra Classic after the collapse, while a new Terra 2.0 network was launched.

LUNC now trades at around $0.00003509, down roughly 46% over the past year, with a circulating supply of approximately 5.47 trillion coins.

Jane Street charges

The lawsuit centres on allegations that Jane Street gained access to confidential data through back channels.

This allegedly allowed the firm to strategically withdraw significant amounts of UST from liquidity pools just minutes after Terraform executed internal moves.

The complaint claims these trades contributed to the broader collapse of the stablecoin and accelerated losses for Terraform’s creditors.

Jane Street has denied the allegations, calling the claims baseless and emphasising that the market turmoil was driven by internal mismanagement within Terraform.

Legal observers note that the case could have implications not only for the firms involved but also for market perception around LUNC and other related assets.

LUNC price analysis

Despite its turbulent history, LUNC has shown some resilience.

The coin has been trading in a range of $0.0000343 to $0.00003516 over the past 24 hours, reflecting a small degree of stability.

Analysts like For-Exx Kripto note that the coin has remained inside a flag formation, though the pattern recently experienced a slight break.

This break could have signalled a sharp decline, yet LUNC did not fall dramatically.

This can be interpreted as a bullish signal in the short term, suggesting that a price attempt toward $0.00003925 could be on the horizon.

While the coin remains far from its historical highs, such technical patterns provide hints about potential upward momentum despite broader market challenges.

Trading volume has also been modest, with about $8.9 million changing hands in the last 24 hours.

Terra Classic price prediction

Looking ahead, analysts project that LUNC could trade within a wide range in 2026.

The minimum expected level is around $0.0000242, while the maximum target could reach $0.000510 by the end of the year.

Key levels to watch include support near the $0.000024 mark, which may act as a floor in case of market weakness.

Resistance lies around $0.000510, representing a potential upside target for traders seeking gains.

Short-term moves toward $0.00003925 could also provide intermediate targets, especially if the market reacts positively to technical signals or news from ongoing legal developments.

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