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LUNC Surges Over 160% in a Week as
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LUNC Surges Over 160% in a Week as
LUNC Surges Over 160% in a Week as Do Kwon Sentencing and Token Burns Draw Traders
LUNC Surges Over 160% in a Week as Do Kwon Sentencing and Token Burns Draw Traders
The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns.
By Francisco Rodrigues, AI Boost
Dec 6, 2025, 1:00 p.m.
(Midjourney/CoinDesk)
What to know:
- Terra Classic (LUNC) surged 74% to $0.0000072, up 160% in the past week, on exploding trading volume, ahead of Terraform Labs founder Do Kwon's sentencing on Dec. 11.
- The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns, with 849 million LUNC destroyed in the past week.
- The token's momentum is also fueled by Binance's pause on LUNC withdrawals ahead of the Terra Chain's v2.18 upgrade, which aims to improve network stability, despite the token remaining volatile.
LUNC$0.0₄6315, the rebranded token from the collapsed Terra ecosystem, posted one of the largest gains in the crypto market over the past 24-hour period, climbing more than 74% to $0.0000072 on exploding trading volume. The token is up more than 160% in the past week.
The rally comes ahead of the Dec. 11 sentencing of Terraform Labs founder Do Kwon, who has admitted to financial fraud charges in the U.S. and faces up to 12 years in prison. Traders appear to be speculating that a final verdict could bring clarity to a project long mired in legal uncertainty. On top of that, Do Kwon’s hearing brings in attention the project has long missed.
STORY CONTINUES BELOW
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At the same time, technical factors are driving attention. Token burns, where coins are permanently removed from circulation, have picked up speed.
In the past week alone, 849 million LUNC were destroyed, with Binance contributing by burning half of the fees from LUNC trades. December's pace has already passed 959 million tokens burned. According to a tracking dashboard, a total of 75.89 billion LUNC has now been burned by Binance.
Though relatively small compared to the token’s circulating supply of 5.49 trillion, the burn activity has energized a community still hoping to revive the ecosystem after the 2022 collapse that wiped out $40 billion in value.
Adding to the momentum, Binance paused LUNC withdrawals ahead of the Terra Chain’s v2.18 upgrade scheduled for Dec. 8. The upgrade aims to fix interoperability bugs and improve network stability.
Still, the token remains volatile while outperforming the wider market. Based on the performance of the CoinDesk 20 (CD20) index, it dropped by nearly 2.3% over the same period.
TerraTerra ecosystem
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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