bctd.news
The native crypto of the Terra blockchain protocol, LUNA hit a new ath of $69.74 today.
In the last 7 days, the LUNA price went up by over 73.5%. At the moment, it is the 11th largest crypto with a market cap of over $26.2 bln.
The surge happens amid the continuous lawsuit between the Terraform company which stands behind the development of Terra, and the US. Securities and Exchange. The dispute entered a new stage when the government agency turned to the court wanting an order for Subpoena Enforcement Action.
Previously, in September, Do Kwon was served with a subpoena at a crypto event.
Finding that the writ was delivered improperly, Kwon filed a suit against the SEC. He said that the agency violated his rights. Also, Kwon presented details about the investigation into Mirror Protocol.
Mirror Protocol offers users to issue and trade synthetic tokens, Mirrored Assets. The Terra blockchain’s stablecoin, TerraUSD (UST) has a market cap of over $26.3 bln and is the 27th largest crypto.