Bitcoin prices are still struggling at around $19,000, with another dip below that level earlier today. At the same time, most altcoins are also trading low on the daily scale. Among the most affected was Terra Classic before it got back up a while ago.
Previously Terra Classic has been the focus of crypto investors following its impressive performance in the past 2-3 weeks. Terra Classic has received a push for improvements from the community. The previous surge in prices seemed to bring a ray back to the Terra Classic.
However, this did not last long when it was mixed with current developments related to the co-founder of the project - Do Kwon. Today's drop was also linked to the same issue before it bounced back following the announcement from Binance. Today it was revealed that Interpol had issued a red notice for him. This means that police from all over the world will join the search for Do Kwon and the process will become more active.
Based on the official website, Binance announced that they will implement a LUNC burning mechanism on top of trading fees. LUNC is trading strong at a trading level of $0.0003173 at the time of writing.
It should be noted that major cryptocurrencies experienced a major decline last week when the US Federal Reserve announced the latest increase in key interest rates. Bitcoin, considered a riskier asset, plunged nearly $2,000 in a few hours to a three-month low of $18,100.
It responded well at this point and reclaimed $19,000 a day later. BTC also tried to gain something more but stalled at the $19K support level. BTC's market cap is still at $365 billion and its dominance over altcoins has exceeded 39% now. BTC is currently trading at a trading level of $19,103.22.
