Luna does 77% pumps just like Kuen misses ejection – but the gain is fading.

The dead can never die.

Almost two years after LUNA fell above $80 Less than a hundredput off The price is 60 billion dollars And sparking a crypto-wide bear market, the new version of the cryptocurrency made a stunning rally on Tuesday, jumping 77 percent in two hours.

Don't get too excited (or worried)—LUNA, the first edition of the reboot. A native sign that has now disappeared Terra ecosystem (now called Luna Classic or LUNC)is nowhere close to returning to LUNA's original position of dominance.

It jumped from $0.83 to $1.47 today, but on slightly encouraging news about Terra's currently jailed founder Do Kwon. But the gains didn't hold, with LUNA's price falling to $1.12 as of this writing. Still, that's a 39% jump in the last 24 hours.

Kwon is currently in a Montenegrin prison awaiting extradition to the United States or his native South Korea to face both criminal and civil charges. On Tuesday, the Montenegrin Court of Appeal PurchasedFor the second time in a month, a lower court approved Kwon's extradition to the United States. “significant violations of the provisions of the criminal procedure” and was therefore invalid.

Despite Luna's boldness, the news is still held up as a glimmer of hope that Kwon — and his long-standing crypto empire — may yet escape the wrath of the law. Just after the law reform, LUNA recorded a share of 77 percent, he said CoinGecko.

LUNC, or LUNA Classic, surged 33 percent Tuesday after the news. However, it failed to hold its gains as it fell below the pre-pump price before recovering slightly. It is up 9% in the last 24 hours, but has finally fallen 100% from its 2022 all-time high of $119.

Kwon Dreams for his role in creating and maintaining Luen and its associated algorithm, a stable coin; USTHowever, it can be a bit imaginative. Kwon's case will now return to a lower Montenegrin court that will again rule on his extradition request.

And even if the disgraced crypto founder somehow avoids extradition to the US, he will instead be extradited to South Korea, where he will be tried for crimes committed there.

But on Crypto Twitter, pro-LUNC and LUNA elites are not in the mood to consider such grim realities.

One account wrote: “Without a doubt, Do Kwon will continue to contribute to the development of LUNC.”

Edited by Andrew Hayward.