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Terra Luna (LUNA), a decentralized payments network, has more than 41% today, attracting considerable market attention. At press time, the token trades at $0.1397 with a market cap exceeding $96 million.
Adding to the price surge, the trading volume of LUNA increased by an impressive 149.60% in the last 24 hours to its current value of about $205 million. After years of turbulence, the token appears to be riding a wave of fresh optimism. However, the road ahead remains far from certain. Meanwhile, Terra Luna’s market performance is driven by a mix of technical upgrades, renewed exchange support, and shifting investor sentiment.
One key catalyst behind LUNA’s rally is the recent rollout of the network upgrade Terra v2.18.0. This upgrade aims to patch security vulnerabilities and strengthen cross‑chain communications. It especially addresses previous issues with IBC (inter‑blockchain communication) value and exploits vulnerabilities.
Notably, both major and mid‑tier exchanges have disclosed their backing. According to a public announcement, Bybit exchange confirmed it will support the upgrade, scheduled for December 8. Binance even paused deposits and withdrawals on the Terra network to ensure a smooth upgrade and better user experience.
The coordinated support from exchanges lends credibility to the project and reassures investors that the network remains alive. This is a significant gesture for a token once written off by many.
Just as technical progress added fuel to the rally, so did recent legal developments surrounding Do Kwon, the controversial co-founder of the original Terra ecosystem. U.S. prosecutors have asked for a 12‑year prison sentence after Kwon pleaded guilty to fraud in connection with the 2022 collapse.
Surprisingly, rather than shaking investor confidence, this development has coincided with bullish moves. Both LUNA and the older Terra Classic (LUNC) have experienced sharp price jumps.
According to data from Coingecko, LUNA jumped by 108.70% in the last 7 days, outperforming the global cryptocurrency market. LUNC surged by 116.40% in the same time frame. Some observers view the legal resolution as closure, signalling that the uncertainty may finally be ending.
A combination of renewed technical commitment, exchange backing, and a shift in investor psychology has brought the spotlight to Terra Luna. However, it remains unclear whether this rally will turn into a sustained comeback or just a short-lived rebound.
The project’s history still weighs heavily on investor sentiment. In May 2022, LUNA and its stablecoin partner collapsed, wiping out nearly $45 billion in value in just one week. Trust in the project was deeply shaken, and many remain cautious despite recent developments.
While the rebirth of LUNA via Terra 2.0 was a fresh start, skepticism lingered due to reduced liquidity, a modest market cap, and a community haunted by the past. Still, today’s rally shows that despite the baggage, there is an appetite for a second chance.
Developers continue to push upgrades. Exchanges continue to support the token. And investors, partly driven by hope and optimism, are reallocating capital. That said, significant risks remain. The final legal outcome for Do Kwon could trigger fresh volatility.
It remains uncertain whether the technical upgrades will lead to meaningful adoption, including more DeFi activity, real usage, or partnerships. For now, LUNA is riding high on renewed attention. But like any crypto revival story, the real test is whether the token can prove its value beyond headlines and sentiment.
The post LUNA Season? Here’s Why Terra (LUNA) Pumped Over 41% Today appeared first on CoinTab News.
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