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Do Kwon is officially a fugitive – New LUNA and LUNC cryptocurrency price prediction.

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At the request of the authorities of South Korea, his home country, all police forces in the world are called to arrest him and transfer him to Seoul.

Seoul prosecutors issued an arrest warrant for the businessman a few days ago. Do Kwon is accused of making thousands of investors lose money when the TerraUSD stablecoin crashed in May.

The currency lost parity with the U.S. dollar, causing losses of at least $40 billion to investors who took positions in UST, the stablecoin issued by Terraform Labs.

At the same time, the shockwave caused by Terra’s collapse led to a subsequent investor distrust of cryptocurrencies, causing a global drop in the prices of almost all tokens.

What is the future of LUNA/LUNC cryptocurrencies?

To overcome the collapse of the first project, Do Kwon launched a new cryptocurrency project called Terra 2.0 a few weeks after the crash.

After a bumpy start, Terra (LUNA) has established itself as one of the most popular cryptocurrencies of the moment and ranks 97the place of the most capitalized cryptocurrencies in. CoinMarketCap. The token has risen 14.68% in the last 24 hours and is trading at $2.77 at the time of writing.

Meanwhile, Terra Classic, the name of the former project, remains highly capitalized at nearly $2 billion, but its price remains very low at $0.00031 at this time.

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Reducing the number of zeros after the decimal point seems to be the more realistic medium-term goal, although many analysts see Terra Classic soon outperforming the dollar and trading at over $2 by 2023.

The post Do Kwon officially fugitive – New LUNA and LUNC cryptocurrency price prediction appeared first on The ₿log.

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