- LUNC and the rest of the market are trading with very low liquidity and high volatility.
- Luna Classic will reduce the supply and raise the price to $1.
Terra Classic wants to start burning more LUNC, however investors should be careful not to get burned too. The price of LUNC will randomly rise when this happens because it is currently trending, so why not reach $1?
Resurrection Terra Classic
After the sudden fall, Terraforms Labs can no longer use the chain, but they are still grateful for its efforts. As of June, they started burning 1.2% of all tokens and a portion of Terra Classic transaction fees. Terra Classic, LUNC and the rest of the market are traded with very low liquidity and high volatility. After the crash, LUNC is trading at a stable high after the crash in May
Bernese Central Theme
The burning tokens are mainly used to increase the value, so the majority of coins have adopted this strategy. With adequate token-burning marketing, consumers expect to buy due to the expected shortage.
Senior Terra Classic holders have benefited by receiving rewards as a result of the Terra Classic being restored early this year. In addition, a few users hesitated to switch LUNC to validators after the crash, which resulted in a more equitable distribution of rewards and an average annual return of close to 37%. These early stackers are ready to throw bags of fully loaded money at new investors who expect the upcoming Luna Classic token burn to reduce supply and raise the price to $1.
In the end, there aren’t many basic justifications for the high price of the Luna Classic, not even a penny. Developers with previous experience are unlikely to continue where they left off in the series, and those who are active now seem more excited about it than they are willing to make a wise investment. This indicates that there is a possibility of a crash if the price decides to leave the company, but it does not exclude the possibility that LUNC will experience another exponential boom. Customers should proceed with caution. It will eventually end.
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