LUNA Pumps 77% as Do Kwon Evades Extradition—But the Gains Are Fading - Decrypt
decrypt.co
Nearly two years after LUNA collapsed from over $80 to less than a cent, erasing $60 billion in value and triggering a crypto-wide bear market, the new version of the cryptocurrency made a surprise rally on Tuesday, jumping 77% in just two hours. On Tuesday, a Montenegrin appeals court ruled—for the
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- Nearly two years after LUNA collapsed from over $80 to less than a cent, erasing $60 billion in value and triggering a crypto-wide bear market, the new version of the cryptocurrency made a surprise rally on Tuesday, jumping 77% in just two hours.
- On Tuesday, a Montenegrin appeals court ruled—for the second time in a month—that a lower court’s approval of Kwon’s extradition to the U.S. relied on “significant violations of the provisions of criminal procedure,” and was thus invalid.
- LUNC, or LUNA Classic, also pumped 33% on Tuesday following the news. But it couldn't hold onto the gains at all, falling below the pre-pump price before rebounding slightly. It's up 9% over the last 24 hours, but ultimately down by nearly 100% from the 2022 all-time high price of over $119.
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