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Nearly four years after Do Kwon was imprisoned, there are still community members steadfastly supporting Terra Luna Classic and looking forward to an "epic revival."

According to Decrypt, although Do Kwon, the founder of Terraform Labs, has been sentenced to 15 years in prison for causing the collapse of Terra, which resulted in approximately $40 billion in losses, the abandoned original chain Terra Luna Classic (LUNC) has not disappeared. A group of community members continues to maintain the network, hoping to achieve one of the greatest revivals in the history of the cryptocurrency industry.The report states that a core community member known by the pseudonym "Vegas" lost about $50,000 during the Terra collapse and has since been involved in operating validation nodes, governance proposals, and developer coordination. He expressed that despite facing long-term internal power struggles and fraud accusations, and even being maliciously reported to the authorities, he still believes LUNC has the potential to return to the top ten in the cryptocurrency industry.After the Terra collapse in 2022, Terraform Labs launched a new chain, Terra, through a hard fork, while the original chain was retained and renamed Terra Luna Classic. Subsequently, the community organization Terra Rebels took over the maintenance work and launched a series of proposals, including a 1.2% burn tax, in hopes of revitalizing the ecosystem. However, due to disputes over fund allocation and governance, Terra Rebels eventually disbanded, and several developers left one after another.Despite this, the community continues to advance the development of projects such as lending protocols, games, and meme coins, and attempts to restore the stablecoin peg mechanism. Data shows that LUNC has risen 17.3% in the past year, but has cumulatively fallen 28.7% since 2022, with a decline of 99.99% from its historical high of $119.Some community members stated that the shared trauma after the collapse has formed a bond similar to "family," and that price is no longer the only goal. "What if we could achieve one of the greatest comebacks in cryptocurrency history? It's like a last-ditch pass." said a community member.

Analysis: On-chain data does not show that investors are massively selling off crypto assets to participate in the SpaceX IPO

According to CoinDesk, despite market speculation that some retail investors may sell Bitcoin to participate in SpaceX's record-breaking $75 billion IPO, stablecoin liquidity and on-chain data show that there are currently no signs of large-scale capital withdrawal from the crypto market.This SpaceX IPO is valued at approximately $1.8 trillion, allocating up to 30% of shares to retail investors through platforms such as Robinhood, Fidelity, and Charles Schwab, significantly higher than the traditional IPO's allocation of about 10% to individual investors. After the roadshow began, subscription demand has exceeded the issuance scale.Data shows that the outflow of USDT and USDC remains within the normal range since February this year, with no abnormal redemptions or supply contractions. In contrast, on June 6, Bitcoin and Ethereum recorded net outflows of approximately 66,470 BTC and 2.49 million ETH from exchanges, indicating that more investors are transferring assets to private wallets, showing signs of buying the dip rather than concentrated cashing out.However, on-chain data cannot reflect the trading behavior of users on platforms like Robinhood and Coinbase, so whether crypto investors are selling assets to subscribe to SpaceX stock still requires waiting for relevant brokers to release subsequent data.Currently, the most significant capital outflows are coming from spot ETFs. Data shows that as of June 3, U.S. spot Bitcoin ETFs have experienced net outflows for 13 consecutive trading days, with total redemptions of approximately $4.4 billion; spot Ethereum ETFs have seen capital outflows for 17 consecutive trading days before returning to slight net inflows.According to the plan, SpaceX will complete pricing on June 11 and will be listed on Nasdaq under the stock code SPCX on June 12.
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