LUNA Token Drops 17% Amid Terra v2.18 Upgrade, Token Burn, and Do Kwon Sentencing Uncertainty

LUNAUSDT experienced significant volatility over the past 24 hours, with the price declining by 17.91% to $0.1911 from a 24h open of $0.2328 on Binance. The primary drivers for recent price movements include the successful Terra Chain v2.18 network upgrade, which improved stability and attracted renewed trading interest, as well as increased token burning activity. Additionally, market sentiment was heavily influenced by the scheduled sentencing of Terraform Labs co-founder Do Kwon, creating uncertainty and speculative trading around the legal outcome. Despite a surge of over 174% in the past week, the latest 24-hour trading range and volume data reflect fragmented and active market conditions, with price and volume figures varying across sources but Binance reporting high volatility and strong trading activity.