“The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns.”, — write: www.coindesk.com
The rally comes ahead of the Dec. 11 sentencing of Terraform Labs founder Do Kwon, who has admitted to financial fraud charges in the US and faces up to 12 years in prison. Traders appear to be speculating that a final verdict could bring clarity to a project long mired in legal uncertainty. On top of that, Do Kwon’s hearing brings to attention the project has long been missed.
At the same time, technical factors are driving attention. Token burns, where coins are permanently removed from circulation, have picked up speed.
In the past week alone, 849 million LUNC were destroyed, with Binance contributing by burning half of the fees from LUNC trades. December’s pace has already passed 959 million tokens burned. According to a tracking dashboard, a total of 75.89 billion LUNC has now been burned by Binance.
Although relatively small compared to the token’s circulating supply of 5.49 trillion, the burning activity has energized a community still hoping to revive the ecosystem after the 2022 collapse that wiped out $40 billion in value.
Adding to the momentum, Binance paused LUNC withdrawals ahead of the Terra Chain’s v2.18 upgrade scheduled for Dec. 8. The upgrade aims to fix interoperability bugs and improve network stability.
Still, the token remains volatile while outperforming the wider market. Based on the performance of the CoinDesk 20 (CD20) index, it dropped by nearly 2.3% over the same period.
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence’s Token Security API averaged 717 million monthly calls year-to-date in 2025, with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch, the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B, while derivatives volume peaked the same month at over $4B.
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The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker US dollar.
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm’s optimism is driven by rising odds of Federal Reserve rate cuts, with market pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard’s crypto ETF policy reversal and Bank of America’s greenlighting of crypto allocations, have contributed to bitcoin’s rebound from recent lows.
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