Developments concerning Do Kwon, the figure at the center of the Terra events that are considered one of the main reasons for the prolonged crypto winter, continue to unfold. Following the recent extradition decision, a new move has come from the Montenegro court.
Extradition of Do Kwon Revoked
A historic decision was recently made by a court in Podgorica, the capital of Montenegro. It had been stated that the extradition of Terra’s founder Do Kwon, which had been unresolved for a long time, to South Korea or the USA was approved.
Kwon was caught at the Podgorica airport in March with fake documents and was subsequently arrested. While discussions about which country he would be extradited to continued, the Montenegro court unexpectedly canceled the extradition approval with a flash decision.
Following this decision, it is already a matter of curiosity what kind of statements will come from South Korea and the USA. Why the Montenegro court made such a decision will become clear in the coming minutes.
Prices of LUNC, LUNA, USTC Skyrocket
Following the emergence of the news, the prices of three altcoins associated with Terra, one of which is the former stablecoin, began to rise. The prices of the three altcoins increased by over 10% within minutes, delighting their investors.
USTC, the former stablecoin of LUNA, had experienced a significant drop after losing its $1 peg. As of the time of writing, it has risen to $0.035 with an increase of over 10% within minutes.
Examining the price of Terra Luna Classic (LUNC), the price has also increased by about 10%, similar to USTC, and reached $0.0001582. During this period, the market cap also increased by 11% and reached $932 million.
Lastly, looking at TERRA (LUNA), we see that the price has increased by approximately 11% and is currently trading just below $1 at $0.95. This price is still 95% below the $20 level achieved in 2021. Nevertheless, the 24-hour trading volume is at $80 million while the market cap is at $580 million.
