We have some important things to talk about for the crypto market today including the bitcoin price, Luna classics price. What is the Luna classic price up to and what are some key things? I think people should be doing with Luna classic right now in the market. That is what we’re going to be talking about including some important updates.
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So, for you, who’s been sticking it out in the crypto market who haven’t abandoned who haven’t run for the hill. So, generally, what happens in crypto is when the prices go up. Everyone comes in everyone FOMOs in. There are lots of people in the market, but when a bear market hit what tends to happen is a lot of people ex out of the cryptocurrency. They sell at a loss and I think that is a big mistake in crypto. But, I think if you’ve been in the crypto market stay the course. You can see right here, the bitcoin price has been moving up nicely right now which is great to see. You also know that we want a strong and healthy bitcoin price not only for Luna classic. But, for any other type of altcoin. You are holding in your portfolio XRP, Shiba, Cardano, whatever. It is we want a healthy bitcoin price and we are seeing some nice moves out of the bitcoin price currently. If we do take a look at the crypto bubbles today guys the whole market is pretty green.
The crypto market is looking good today, so again if you are holding a diversified bag of altcoins. You’re probably sitting pretty in the market today. That is good to see and what else do we have for Luna classic. What do we need to be doing right now for this crypto? So, what we are seeing right now is that proposal 3568 is tested and passed successfully. We just are waiting for implementation right now which is important, so we are waiting for the implementation of this 1.2 percent burn tax. We’ve also had this update out of the discord. Ek 826 has said right here. I have finalized the testing results and documented them here the text has also been appended to the white paper and can be found at the original archive link in the next 24 hours. Basically, I reckon this is pretty close so we are just waiting for implementation. So, it may only be days away possibly maybe within a week before this 1.2 percent burn goes live.
That is good. so any crypto you’re in what you guys want to be seeing is people talking about that crypto. So, crypto Youtube, Twitter. It spreads awareness you can get trending. It’s really cool and that’s why cryptos out there spend a lot of marketing they spend a lot of money on marketing. But, when you have such a massive following like luna classic there is no need to spend on marketing because it’s just community crypto. People are interested in it and people are going to talk about it naturally. But, have a look at their social dominance right there. Things are looking up for Luna classic as a lot of interest increases.
I think as some bullish signals right now. If Luna classic can continue to trend on Twitter. So, it has been trending. I saw a trend earlier today and that is good to see. So, I reckon if that interest stays strong and on top of that we quickly get a 1.2 transaction burn. I think that’s going to be bullish and what do people need to be doing right now for Luna classic. In my opinion, what people need to be doing right now is taking some advice from Michael Saylor. He says diamond hands right here so what does this mean this means staying strong staying patient in the crypto market. He’s probably tweeting in response to Elon Musk. So, Elon Musk dumped about 75 percent of his bitcoin holdings out of Tesla and Michael Sailor is saying diamond hands, I think with Luna classic.
It’s going to take some time for this cryptocurrency to build out and staying patient is. That person should be doing in the crypto market today. But, I do think there is a development phase in crypto so when cryptos are getting developed that is when you need to stay patient. Then, I think once that development is finished that is when the adoption can kick off, so you get massive adoption and again it’s that question of like a utility. So, if people like end up adopting it. They end up utilizing the project. That is where massive rewards in the crypto space can come into play, so adoption is going to be key and I think people should stay patient. When it’s in that development phase.
So, that is what I’m thinking in today’s market and again what is the Luna classic price doing right now. You can see a couple of movements right here so in the last couple of weeks we’ve seen a big pump up in the price of Luna classic. It got up to around nearly the 12 000 level. So, around the 11 400 range right there. There was a lot of sideways trading there was a bit of a sell-off in the market and right now there is a bit of a bullish incline. So, you can see that price is going up on top of that where is the burn number up to so we’re up to 1.26 billion which I do think is good. But, again this is going to be nothing in comparison to when the real burn kicks off. So, if we get that 1.2 percent real burn on the chain. That is kind of what people are looking out for. Then the big one after that, of course, it’s going to be CZ of Binance.
I think CZ to Binance. He has stayed true to his word in the past, especially with the white paper at BNB, and if he does stay true to his word of Luna classic. So, again if we get a 1.2 percent burn on Luna classic on the chain and then there’s actual activity. So, it’s not just empty crypto with no activity. I reckon CZ to Binance he’ll look at that he’ll say look i’m a man of my word. I’m gonna burn some luna classic on the Binance centralized exchange, so that would be great to see whether he does it or not.
This article is a transcription of a video made by Crypto ZEUS
Original video: https://youtu.be/bwdvOyoZW8w