LUNC Jumps 160% In A Week As Do Kwon Sentencing Nears And Burns Accelerate

LUNC, the rebranded token from the collapsed Terra ecosystem, has surged more than 160% over the past week, including a 74% gain in the past 24 hours, as trading volume surged.

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 will bring long-awaited clarity to a project weighed down by legal issues. Additional token burns and renewed community activity have also contributed to LUNC’s sharp rebound as speculative interest returns.

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