LUNA Token Drops 17.92% Amid Legal Developments and Exchange Suspension; $116M Market Cap at Risk

LUNAUSDT experienced a sharp decline of 17.92% over the past 24 hours, with the current price at 0.1333 USDT, following heightened market volatility linked to the recent sentencing of Terraform Labs co-founder Do Kwon and related legal developments. The drop was further influenced by major exchange actions, including a temporary suspension of LUNA deposits and withdrawals to facilitate a network upgrade, and by broader market sentiment reacting to ongoing legal proceedings and ecosystem changes. In the latest trading session, LUNAUSDT reached a high of 0.1624 and a low of 0.1333, with 125.75 million LUNA traded, corresponding to a market capitalization of approximately $116.15 million. Technical indicators remain bearish, but some analysts note oversold conditions, suggesting a potential for future price stabilization.