While Terraform Labs founder Do Kwon is slated for sentencing later this week and the Terra Classic v2.18 upgrade heads down the runway, both luna classic (LUNC) and luna (LUNA) have been enjoying a sharp climb over the past two weeks.
Terra’s Fallen Empire Flickers: LUNC and LUNA Rally Into Upgrade Week
This article was published more than a month ago. Some information may no longer be current.
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Zombie Tokens Sprint
It’s been more than three years and seven months since Do Kwon’s venture imploded, and development now springs from community governance proposals approved by validators and stakers through onchain voting, with contributors to the Terra Classic protocol’s Go-based core carrying out the technical heavy lifting.
On Dec. 8, 2025, the legacy chain is set for an upgrade aimed at patching recent exploits that targeted IBC functionality. A few days later, on Dec. 11, Kwon is expected to be sentenced for conspiracy to commit fraud and wire fraud.
Many observers think this one-two combo may be fueling the latest climb in both tokens. Luna classic (LUNC) has jumped 191% in the past fortnight and tacked on another 40% today against the greenback.
Even so, at $0.00006742 per LUNC, the token remains 54% lower over the past 12 months. LUNA’s price has advanced 104.3% in the past week and added 26.8% today against the U.S. dollar. LUNA too is still down 79.7% over the past year.
Despite their sudden theatrics, both tokens remain relics of a collapsed ecosystem, and history hasn’t exactly been kind to assets in that category. LUNC and LUNA may still catch brief bursts of speculative heat, but those spikes often fade as quickly as they appear.
The market’s memory is long, liquidity is thin, and the fundamentals haven’t revived. These rallies look more like passing sugar highs than signs of a sustainable future.
FAQ ❓
- Why are LUNC and LUNA getting attention right now?
Speculators are eyeing the Dec. 8 upgrade and Do Kwon’s upcoming sentencing. - Are these tokens viewed as viable long-term assets?
Both remain tied to a collapsed network, leaving long-term prospects questionable. - What does the Terra Classic upgrade aim to fix?
It addresses recent IBC-related exploits on the old chain. - Could the latest price jumps disappear?
Yes, these rallies have a habit of fading once hype cools.
