Do Kwon Released to House Arrest, Terra (LUNA) Price Surges.
Yesterday, decisions regarding Do Kwon
were made once again, and this time it
seemed a temporary decision was
reached. According to the announcement
made yesterday, Do Kwon was released
under house arrest. Both the United States
and South Korea had requested Kwon's
extradition during the legal process, but
the extradition to South Korea was
postponed by the Montenegro Supreme
Court for further review. Following these developments, Terra's (LUNA) price saw a 26% increase, reflecting investors' reaction to the news.
What is the Current Dollar Value of Terra (LUNA)?
The decision to release Do Kwon to house arrest coincided with a notable increase in the price of Terra (LUNA). This development was positively received by investors.
This situation resulted in a significant 26% increase in the price of Terra within the last 24 hours despite falling market conditions. As of the time of writing, LUNA is trading at $1.13.
LUNA's market capitalization also saw a similar increase during this period, rising to $780 million. This value placed it at the 114th position in the market cap rankings. The 24-hour trading volume, which surged following the news, exceeded $394 million due to a 270% increase.
The price performance seen in Terra revealed a 22.4% increase over the last 7 days, while the past month showed a remarkable 72.7% increase, informing investors of its growth.
Do Kwon and the Legal Process.
The legal proceedings surrounding Do Kwon trace back to a case of fraud involving a fake passport, which led to his initial capture. As a result of these events, he was detained in Montenegro.
Following his arrest for fraud, Kwon was found guilty by a court in Podgorica and subsequently sentenced to prison. Adding a different dimension to the process were the extradition requests from the United States and South Korea, which had various charges against Kwon.
