TL;DR
- Terraform’s wind-down administrator sued Jane Street, alleging non-public data helped it profit and withdraw UST from liquidity pools ahead of the May 2022 TerraUSD collapse, intensifying scrutiny.
- LUNC trades near $0.00003509, down about 46% yearly, with 5.47T coins; it held $0.0000343-$0.00003516 in 24 hours and targets $0.00003925 if strength persists.
- For 2026, projections span $0.0000242 to $0.000510, with support near $0.000024 and resistance near $0.000510, leaving legal headlines a key swing factor.
Terra Classic (LUNC) is back in the spotlight after the administrator overseeing Terraform Labs’ wind-down sued trading firm Jane Street, alleging insider trading tied to TerraUSD’s May 2022 collapse. The legal escalation adds a fresh uncertainty layer for LUNC holders while reviving memories of the chain’s rebrand to Terra Classic and the launch of Terra 2.0. LUNC trades around $0.00003409, down roughly 46% over the past year, and its circulating supply is about 5.47 trillion coins, keeping price sensitivity high even on small shifts in sentiment. Investors are watching the case for clues on impact.
Lawsuit dynamics and what the chart is signaling
The complaint centers on claims that Jane Street accessed confidential data through back channels, then used that non-public information to profit ahead of TerraUSD’s breakdown. The allegation is that well-timed withdrawals amplified the stablecoin’s death spiral by pulling significant amounts of UST from liquidity pools minutes after Terraform executed internal moves. The filing says those trades contributed to the broader collapse in May 2022 and accelerated losses for Terraform’s creditors. Jane Street has denied the claims, calling them baseless and arguing the turmoil stemmed from Terraform’s internal mismanagement. Observers say the outcome could sway sentiment.
Despite the headline risk, LUNC has held relatively steady over the past day, trading between $0.0000343 and $0.00003516. Technical resilience is the near-term story, even with legal noise rising as analysts track a flag formation that recently saw a slight break. That kind of break can precede a sharper decline, yet LUNC did not drop dramatically, a reaction some interpret as a short-term bullish tell. A push toward $0.00003925 is being watched as an intermediate target. Trading volume was about $8.9 million in 24 hours. Traders are monitoring whether that stability holds as headlines evolve.
Looking further out, forecasts cited in the report place Terra Classic in a wide 2026 range, with a minimum around $0.0000242 and a maximum target near $0.000510 by year-end. The wide band reflects event-driven uncertainty as much as chart structure. Support is highlighted near $0.000024 as a potential floor if weakness returns, while resistance is anchored around $0.000510 as an upside objective. The $0.00003925 area could serve as a midpoint waypoint, especially if technical signals improve or legal headlines turn favorable. Until then, positioning remains cautious. Any court updates could quickly shift risk appetite again.
