Terra Luna Classic is once again attracting attention. The SEC has begun investigating allegations of market manipulation by Jane Street, and the lawsuit related to TerraUSD depegging in May 2022 has reignited, causing LUNC to rise 24% to around $0.00004905. While Bitcoin remains flat near $67,000, this unique movement stands out quite noticeably.

Looking at the burn metrics, 32 million tokens were burned in a single day, totaling 224.6 million tokens for the week, and a cumulative total of 85.58 billion tokens have been burned. This LUNC burn amount, accounting for about 19% of the supply, indicates that the community is seriously committed to reducing supply. From a trader’s perspective, this burn pace creates a sense of scarcity and acts as a bullish signal.

In addition, trading volume surged by 466%, reaching approximately $74.3 million. Amid a generally quiet market, this spike in liquidity appears to be a reaction to both the LUNC burn and legal news. However, since the price is still well below the all-time high of $117, it’s uncertain how long this rebound will last. Discussions about Do Kwon have also resurfaced, and the impact of past collapses still lingers.