CRYPTO NEWS: PRICE ANALYSIS FOR TERRA CLASSIC.
Dr. M. Lokesh Hari
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CRYPTO NEWS: PRICE ANALYSIS FOR TERRA CLASSIC.
THE PRICE ANALYSIS FOR TERRA CLASSIC, THE $LUNC SURGE WILL REACH 570% BY YEAR'S END IN THE CRYPTO COMMUNITY. IN LINE WITH THE NETWORK'S 1.2% TAX BURN ON ALL TRANSACTIONS, WHICH IS ENDORSED BY TOP EXCHANGE BINANCE, THE CRYPTOCURRENCY COMMUNITY APPEARS TO BE ANTICIPATING A PRICE INCREASE OF NEARLY 570% FOR TERRA CLASSIC ($LUNC) BY THE END OF THE YEAR.
THE CRYPTOCURRENCY COMMUNITY EXPECTS $LUNC WILL END THE YEAR AT $0.001978 PER TOKEN, UP ABOUT 577% FROM ITS CURRENT PRICE OF $0.0002918 PER TOKEN, ACCORDING TO COINMARKETCAP'S PRICE PROJECTIONS TOOL. THE FORECAST EXPANDS ON ONE THAT INDICATED A 400% INCREASE TO $0.001457 PER TOKEN IN OCTOBER.
THE COMMUNITY'S PROJECTIONS ABOUT CRYPTOCURRENCIES MAY NOT EVEN MATERIALISE, IT'S VITAL TO NOTE. ACCORDING TO THE PLATFORM'S DATA, ITS AVERAGE $LUNC PREDICTIONS WERE JUST 0.72% ACCURATE IN THE PREVIOUS MONTH, WHICH SUGGESTS THAT THOSE WHO SUPPORT THE COIN MAY BE RESPONSIBLE.
THE ORIGINAL TERRA ENVIRONMENT, WHICH DISINTEGRATED EARLIER THIS YEAR, WAS RELAUNCHED AS TERRA CLASSIC. AS A RESULT OF THE COLLAPSE OF TERRA'S ECOSYSTEM, THE NUMBER OF TOKENS IN CIRCULATION INCREASED FROM 340 MILLION TO 6.9 TRILLION. TO COUNTERACT THIS INFLATION, ADVOCATES OF $LUNC HAVE IMPOSED A 1.2& TAX BURN ON ALL NETWORK TRANSACTIONS.
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AFTER MAJOR EXCHANGE BINANCE SAID IT WOULD ADOPT THE BURN MECHANISM TO BURN ALL TRADING FEES ON $LUNC SPOT AND MARGIN TRADING PAIRS, TERRA CLASSIC'S PRICE SPIKED EARLIER THIS MONTH. ACCORDING TO REPORTS, CHANGPENG ZHAO, THE CEO OF BINANCE, NOTED THAT THE EXCHANGE BURNT OVER 5.6 BILLION LUNC TOKENS, WHICH WERE THEN WORTH OVER $1.8 MILLION.
ON OCTOBER 11, BINANCE IS ANTICIPATED TO CONDUCT ITS SUBSEQUENT LUNC TOKEN BURN. TRADING COMMISSIONS FROM LUNC SPOT AND MARGIN TRADING PAIRS ARE SENT TO THE LUNC BURN ADDRESS TO CARRY OUT THE BURN.
NOTABLY, A WELL-KNOWN CRYPTOCURRENCY WHALE ON TWITTER GOING BY THE HANDLE GIGANTIC REBIRTH DISCLOSED A SIZABLE WAGER OF ABOUT $8 MILLION AGAINST TERRA CLASSIC.
THE NOTIFICATION ALLUDED TO A SECOND INSTANCE OF GCR ENGAGING IN THIS ACTIVITY. THE TRADER IS WELL-KNOWN IN THE CRYPTOCURRENCY INDUSTRY FOR SHORTING TERRA PRIOR TO ITS COLLAPSE AND FOR HAVING BET WITH DO KWON HIMSELF THAT THE PRICE OF ITS $LUNA TOKEN WOULD GO BELOW THE $92 LEVEL WITHIN A YEAR AT THE TIME. $10 MILLION WERE ON THE LINE.
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