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Will LUNC Back To $1? | Terra Luna Classic Burn | Terra Luna Crypto



Will LUNC Back To $1? | Terra Luna Classic Burn | Terra Luna Crypto

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Welcome to our Will LUNC Back To $1? Video!

What is Luna Classic?
Luna Classic (LUNC) is the original Terra Luna coin left behind following the launch of a new Terra chain after the recent UST/Luna collapse.

Kwon’s grand plan for recovery introduced a brand new chain to conduct future transactions on.

This left the Luna Classic and the Terra Classic chain. The new chain produced carries the Terra name, as does its Luna token – known as Luna 2.0.

Luna’s Comeback
Terra Luna Classic hopes to make a comeback after receiving a lot of support from its fan base.

Since May, when the UST stablecoin collapsed, many individuals have given up on Terra. Do Kwon, the infamous CEO of Terraform Labs, wasted little time in launching a new Terra blockchain, rebranding his prior attempt Luna Classic, and giving the new chain’s native coin the LUNA ticker. And he’d given Terra’s first token a new name: LUNA.

Since Terra’s demise, efforts have been making steady progress to restart the old blockchain, so all is not lost. It’s so difficult since it calls for making so many new blocks.

There was still motivation to expand the network after Terraform Labs abandoned the Terra Classic chain, as seen by a June request to start burning some of the transaction fees and increase validator compensation.

Even though the chain had been abandoned by Terraform Labs, this proposal showed that interest in it was still strong enough to warrant additional work.

Another proposal that garnered widespread support from the community was to immediately begin burning 1.2% of all transferred tokens; however no information on the implementation of this proposal was provided.

The use of LUNC, Terra Classic’s native money, in commerce has continued during this whole period. The high volatility was not completely unexpected given the low liquidity, but it was worrisome nonetheless.

Although there were only a small number of programmers working on Terra Classic projects, the atmosphere was perfect for spreading misinformation.

Many other cryptocurrency tokens are presently trading at a fraction of a cent, thus it was believed that LUNC, too, may someday achieve a price of a penny or, for the more ambitious, a dollar.

This happens all the time with tokens worth cents on the bitcoin market. Despite the fact that such a move would give LUNC a trillion dollar valuation, the company’s most prominent spin doctors dismissed the prospe

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The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

I hope you found value in our Will LUNC Back To $1? video. Make sure to leave a like on the video if you gained value from it!

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⏰Timestamps⏰

00:00 – Terra luna classic burn Introduction?
00:31- Terra luna classic burn project summary?
11:54- Terra luna classic burn project outro?

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