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The price of Terra Luna Classic's LUNC token surged by double digits following news coverage of the Jane Street lawsuit, but this was not due to any fundamental improvements. Derivatives data show open interest skyrocketed from approximately $100 million to $160 million, indicating that typical short squeezes are driving the price movement. Analysts point out that this rally is driven by news events rather than ecosystem developments, and its volatility is being exploited by short-term traders.