Cryptocuurency analysts and proponents have evaluated Luna Classic LUNC recent price gains. Do Kwon’s response to the arrest warrant issued by a South Korean court and Luna Classic LUNC burn mechanisms are two key events, driving Luna Classic higher.

Will Chen, a cryptocurrency developer identified the biggest challenge facing LUNC in the following months. Chen clarified the incentives for LUNC holders. Developers and holders of Luna Classic are curious about large investors, entities that control the Luna Classic network.

LUNC holders are pushing for 1000x gains

Based on data from cryptocurrency intelligence tracker Santiment, Luna Classic, the token of the LUNC chain has garnered massive crowd attention as Luna Classic-related keywords topped social media search history.

Luna Classic entered the spotlight yet again following a recent price rally in response to the planned tax burn of 1.2%. While the price gains were quickly reversed with profit taking by Luna Classic holders, Do Kwon shed light on the situation where Korean authorities issued a warrant on Do Know for his arrest.

He tweeted to the cryptocurrency community, addressing the concern of his arrest and assured Luna Classic holders. Kwon said he is in the documents and process of defending ourselves in multiple jurisdictions. Do Kwon told community members that Terraform Labs employees hold themselves to high bar of integrity, and look forward to clarifying the truth in the next few months.

Chen’s concerns is that LUNC’s future looks bleak since it is challenging to attract projects to build on Terra Luna Classic. Chen was quoted as saying, it might be,

hard to attract projects to build on LUNC until the rebels figure out who they're working for.

Luna Classic holders are pushing for 1000x gains in LUNC yielded 262% gains over the past month, Luna Classic LUNC is therefore one of the altcoins with highest 30-day return and a higher 90-day ROI compared to BTC.

Amidst speculation and the recent update from Terraform Labs, holders have flooded Twitter with mentions of 1000x gains from Luna Classic.

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