We’ve got some new options here for the Terra Classic burn. Everybody tends towards introversion to find out everything about Terra Luna’s Classic. The market cap here is $4 trillion Classic, which is basically $680 million. The value here is around $160 million right now. We’re 50% up here for the count. A big stabilization shift is happening for Terra Luna Classic. The price, like I said, is 0.0001% right now. So the chance that we could break down is violence by more and more Terra Luna. What is happening here? Can we continue to go up, or are we going to get rejected here pretty soon? The biggest problem is, like I said, we’ve been waiting for some good news to happen. We did pump here yesterday over here to 0.001%, but as you can see, we got pretty much rejected, and ever since then we’ve started to stabilize, and we’re back at 0.001% now.
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Can we still survive? Can Terra Classic still make some pumps? It all depends on what’s going to happen in the next couple of days. If we have some good reasons, why we need to pump? If we have some good triggers like new exchange listings or exchanges implementing the burn, then yes, the chance here that Terra Classic can continue to go up. But like I said, if Bitcoin goes down, if Bitcoin makes some new lows, it’s going to be a massive problem here for Luna, because if that happens, then pretty much the entire market will go down and Luna will go down with the market. That’s the biggest problem. That’s the biggest possibility that I see could happen here in the short term, like in the next couple of weeks. Basically Bitcoin going down, making some new lows, and then little Classic following Bitcoin here, this is pretty much the normal thing here for all crypto to follow Bitcoin. Because of that, I do believe that we are going to make some new lows, but in the meantime, the chances that we could make some new highs have been increased because of the new things that have been happening if the developers do finish the burn mechanism any time soon. Basically, we’re going to see some pups here happening to the Terrorist Classic, and if Binance burn Luna Classic, then they basically believe that it should be able to go up because of the burn implementation. So let’s see what’s going to happen here to tear on the class here pretty similar.
Let’s go through some updates. Let’s go through some news saying here that the breaking LA Classic is going parabolic. It’s not happening right now. We did get rejected. This all happened yesterday. Basically, we have some whales here shilling the coin, basically saying here that you’re hit by the Luna Classic because it should be able to continue to go up to some new highs. So, Luna Classic and USTC are fully ready to go parabolic, USTC back to one $1. Is that a possibility? Hopefully yes, but it’s going to be a long way to go. It’s not something that’s going to happen pretty soon. It’s going to take a long time for us to go back to these big values.
So the biggest problem is that we are still in a bear market, and because we’re still in a bear market, there’s no chance the Luna Classic can go back to its previous highs or even to like one dollar or something like that, because basically people are just not ready to invest.
So the Luna Classic update looks pretty good. Let’s hope, it looks pretty interesting. It looks pretty good.
Here we have cool coin features, so people are using them on the cool coin features here. So yeah, cool coins are dominating. That’s super interesting to see what’s upcoming. Okay, so people do believe the USTC. So it has a lot of potential and I do believe it does, but it’s going to take some time for something like that to happen.
“If Luna is pupping Luna Classic and USTC will PP very soon.” That’s the whole point. If Luna Classic goes up, then the stable coin will also go up within the Classic, which is super interesting and super cool.
We’ve got memes here. Okay, if you continue here to this page right now, it says,
“Everything I acquired and built. I bet on the Luna Classic and USTC. I’m paying for the future happiness of my family. That is why I’m motivated to help the community and the project. I care so much about my son. I try so hard to make sure we all win”.
The whole point is to win here. Also, if you didn’t know, Luna Classic has a prop update.
So if you didn’t know, Luna. There’s Luna Classic Dao, which is super interesting. They have 30–35,000 followers already, and they have burned the most for now. So that’s the community that burned the most coins, which is super insane and super awesome. Everything is almost ready here. Fantastic progress in the latest roadmap meeting. Let’s just go to terrible Twitter here to see if you have any new updates, but not too many big things happening.
This is what’s been happening. So do check it out for you to see what the Rebels have been doing for the last couple of days here. We have this massive post here saying, so Luna Classic makes a big move. Was it backed by strong willpower? So that’s the question here. The Luna Classic is being backed up by huge whales. It’s hard to imagine Terra making a comeback after Luna and UST’s crashed, but Terra Classic aims to do just that. Luna Classic’s latest price action suggests significant interest in the project, and the whales might also be looking to take part in the action. The Classic’s first major price peak occurred in the last week of June, during which it rallied by more than 180%. The cryptocurrency has shed more than half of those gains, but the bulls made a major comeback in the last 24 hours of the 15th of July. As a result, its price dropped by more than 20% in a matter of hours.
The Luna Classic rally in the last 24 hours comes amid outflows recorded by the money flow indicator. Meanwhile, the RSI has risen above 50%, indicating a healthy bullish moment. The upside occurred shortly after it was revealed that one address purchased roughly 8.5 billion on the LINC and then sent to an address with over 2.6 trillion on LUNC. As it is stated,
“The wallet accumulated around $8.5 billion LUNC and dipped it all into the 2.6T wallet that I hear belongs to Binance. It has since started accumulating again and is currently holding over 700M. Is this Binance loading up?”
Is this Binance burn Terra Luna Classic? If something like that is possible if these guys are doing that, then that’s going to be a massive move next.
“Although it was not confirmed whether the receiving address belongs to Binance, the exchange company confirmed a few days ago that the burn is necessary. This might point towards better times ahead for Luna Classic if its supply is reduced significantly courtesy of a token burn. The Luna Classic has other things going for it. For example, outflows from its supply held by whales bottomed out at 43.57% on the 12th of June and increased to 43.78% by press time. This confirms that whales have been buying the Luna Classic in the last three days, thus the bullish pressure built up. In fact, the volume also saw a significant increase over the last 24 hours of July 15th. So, Terra Classic’s developers have been hard at work to break the network back to its former glory. The development activity metric registered a strong uptick since July 7th. This is a healthy sign not only for the network but also for the Classic price action. This is because evidence of healthy development encourages investors to buy more, especially if the underlying asset is heavily discounted. So Terra Classic is already doing a great job of rebuilding its reputation. However, it has a long way to go, but scheduled burns all along the way are accepted to support its recovery.”
And there you go. This is what’s been happening here to tear the Classic down in the background. What do you think about this?
[This article is a transcription of a video made by Crypto Ben]
[Original video: https://youtu.be/H-XyjQhKkyI]