Despite the challenges following the collapse of Terraform Labs (TFL) in 2022, the community-driven initiative has been gaining momentum, with LUNC posting significant gains.<\/p>\n

This surge comes as a result of several positive developments for Terra Classic. One of the key moments was the court\u2019s approval of Terraform Labs\u2019 bankruptcy plan, which included an agreement with the SEC to settle crypto claims after creditors are paid. This decision was expected, as reflected by a small price bump before the hearing. Additionally, a massive burn of 137 billion tokens in early November, the largest in LUNC\u2019s history, helped reduce the supply, creating a deflationary effect that likely contributed to the price movement.<\/p>\n

Overall, the broader crypto market has been positively impacted by political developments, such as growing optimism surrounding Donald Trump’s potential re-election and the anticipated resignation of SEC Chair Gary Gensler. These events have led to substantial gains for Bitcoin and Ethereum, and have also fueled the rise of other cryptocurrencies, including XRP, which has seen impressive growth.<\/p>\n