LUNC rallies by 33%; Terra’s co-founder Do Kwon discloses his location following Interpol’s red notice

LUNA Classic price hints at a 25% crash as Do Kwon under Red Notice from Interpol
  • Do Kwon has been alleged to be “on the run” over the past few days, leading to Interpol issuing a worldwide arrest warrant for him.
  • Terra’s co-founder refuted all allegations, stating he has been writing code in his living room.
  • In the wake of this turmoil, LUNC managed to sneak a 33.34% rally over the last 24 hours.

Terra does not seem to be leaving the headlines anytime soon despite the debacle now turning almost five months old. 

The collapse of the ecosystem, which triggered a market-wide crash and losses amounting to millions of dollars, led to all guns being pointed at Do Kwon, Terra’s co-founder. The creator  is now also the subject of an Interpol Red Notice.

But Do Kwon is living a normal life

Following the South Korean prosecutors’ request, Interpol issued a worldwide arrest warrant this week, also known as a “red notice”, in the name of Do Kwon. A red notice is usually a request from Interpol to the local law enforcement authorities to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.

These warrants are usually subjected to individuals who are “on the run” from the authorities. However, on his Twitter, Do Kwon addressed these allegations and stated that he has been making zero effort to hide from the authorities. 

Replying to the same, Do Kwon further stated that he has been writing code in his living room and living a normal life by going to the malls and walking.

This isn’t the first time Do Kwon has addressed such allegations. Earlier this month, he tweeted in response to the averments, clarifying his status.

Luna Classic is still making growth

While the Do Kwon saga is heating up, on the one hand, Luna Classic is also finding a lot of buyers on the other. 

After invalidating the majority of its rise from the beginning of this month, LUNC noted a 33.34% rally in the last 24 hours. Potentially triggered by Do Kwon’s response, LUNC could be seen trading at $0.00029503.

Luna Classic 24-hour price chart

The Relative Strength Index (RSI) evinces that buying pressure is still persisting despite the market being overheated following the rally. If this sustains, LUNC could see another few bouts of rallies over the next few weeks.

What do you think?

Written by Andrea Davies

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