Do Kwon, Founder of Terra Blockchain, Released from Prison
After months of being incarcerated in Montenegro for possessing fake travel documents, Do Kwon, the founder of the billion-dollar Terra blockchain, has finally been released. Although there have been ongoing efforts by the United States and South Korean governments to extradite him for prosecution, a final decision has yet to be made. In the meantime, Do Kwon will remain in Montenegro under house arrest while awaiting his fate.
Positive Reaction in LUNC and USTC Prices
The news of Do Kwonโs release has had a positive impact on the prices of LUNC and USTC. Despite the struggling crypto market, both altcoins experienced a significant uptick following the announcement.
- The price of LUNC jumped over 10% from its Sunday lows of $0.00015, reaching a high of $0.000172 before correcting downwards.
- The price of USTC also recorded a 10% increase during this time, rising from $0.028 to a peak of $0.031.
Both altcoins have managed to maintain their gains so far, indicating a potential continuation of the uptrend. With minimal resistance and the possibility of Bitcoinโs rise, it is expected that both USTC and LUNC will follow suit.
Currently, LUNC is trading at $0.0001672 with a 24-hour gain of 9.4%, while USTC is trading at $0.0303 with a 24-hour gain of 5.39% according to Coinmarketcap data.
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