Luna Token Price Surged More Than 50% After Do Kwon Wins Extradition Appeal in Montenegro

Do Kwon, who is the co-founder of Terra Luna, wins the extradition appeal on March 5, 2024, in Montenegro court, which was required by U.S. government officials due to fraud charges. When this news was released, suddenly the LUNA token pumped more than 50%, and its price surged from $0.82 to $1.51 within a few hours. Although Luna token can pump more, its market cap is still less than $1 billion, and in the last bull run, it was just close to $40 billion.

Actually, this whole thing started after the collapse of LUNA when USTC depegging happened, and it crashed the price of Luna from $119 to almost zero. After this incident, Do Kwon was hiding and moving from one country to another to avoid the case. 

At last, he was captured in Montenegro and is still under investigation due to the Luna fraud, which shocked the whole crypto industry.

The United States of America also filed charges against Do Kwon for fraud and wants to extradite him. But the judge denied the request of the U.S., and this case is going for a retrial in the initial court of Montenegro. Let’s see what happens next, but for the time being, Do Kwon has some relief, which is also reflected in the price surge of Luna.

But will this price sustain or pump more? Well, anything can happen, but the bull season is already going on, and there are decent chances that it can pump up to $5 once it gains momentum. Last time also, positive news came about the Luna collapse case, and it pumped more than 500% within a few days.

History can repeat itself again, as in the bull market, money is thrown here and there on almost every coin.

The next hearing will reveal what the next step is for Terra Luna’s collapse case and what lies ahead for Do Kwon. Is he going to be extradited or will he be cleared of all the charges as he claims to be innocent? Let’s hope for the best for the crypto community.

If any news comes out in the upcoming hearing about Luna’s case, we will provide an update here as well as on our social media channels. 

According to Our Price and Market Analysis - Terra Luna Can Pump Upto $10 Within This Bull Season of 2024-25