We have some big crypto news to talk about in the market today, so we gonna be talking about everything you need to know in the market today to stay up to date in the crypto space and also be talking about the Luna classic cryptocurrency. What is the latest information about this crypto and why is it went up 25 in the last 24 hours? We’ll be talking about that.
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Let’s listen in to Michael Saylor one of the biggest Bitcoin whales out there right now. What does he have to say about Bitcoin and the skeptics have always said, well, it’s real it’s better than gold. But, it’s so good it’s too good to be true and the government’s going to ban it. So, if the deniers are wrong and if the skeptics are wrong and it’s pretty obvious. They’re both wrong at this point, it’s not going to zero and if it’s not going to zero. It’s going to be a million because it’s obviously better than gold at everything that gold wants to be and if it was just worth it. What goals worth it’d be 000 a coin. So, there you go right there so one of the most bullish Bitcoin whales out there. Michael Saylor says Bitcoin is going to a million dollars. Even though the crypto market right now. It is a little bit frosty with the overall fud about you know recession and things like that. But in the long run, Michael Saylor saying Bitcoin is going to 1 million right there which is pretty exciting. We also have some other important news to talk about in the crypto space today.
So, have a look at these 20 million tokens lost as market maker winter MU takes the blame. So, there has been, unfortunately, another crypto hack in the crypto space an attacker deployed layer 1 multi-signature technology to layer 2 before the winter mute recovery team. So, unfortunately, there has been another hack in the crypto space and it is a good reminder. It does come with that reward and risk in crypto. So, always remember crypto high reward high risk, and definitely unfortunate to see another crypto hack out there. We also have this news, but this is bullish news right here. So, Solana ventures sets up 100-million-dollar fund for a game fight and defy in South Korea. So, the new fund is intended to support the growth of NFT gaming and D5 projects on Solana and to help keep former Terra developers on their feet following Terra’s fall. So, this is really good news. South Korea is probably one of the top crypto countries in the world up there with Dubai up there with the USA and this is good to see. So, 100 million dollars that is a lot of money that is a lot of investment being made into NFT’s blockchain gaming and decentralized finance. So, even though the crypto market may feel a little bit frosty real money is still getting invested into D5 gaming NFTs. This is good for the future of cryptocurrency, so good for the Solana ecosystem and good for other people out in the crypto space as well.
So, some bullish news despite the volatility in the crypto space today and let’s talk about Terra Luna burn. So, there has been a big increase in the price just recently in Luna classic. I’ve seen it trend over on Twitter lots of interest. So, what’s happened here is it does look like I’ve seen the tweets. I’ve seen the notifications this proposal three five six eight. This one has passed, so you have over 100 million votes in favor of yes. This is interesting so what is it going to do. It’s going to put a tax/burn 1.2 percent all transactions. So, I burn 1.2 percent on all transactions that are going to happen in Terra Luna classic and they’re saying right here this mechanism should be true until the total supply is reduced to 10 billion for Luna classic. After that, the mechanism would be disabled, so the total supply can never be changed and this is really interesting for Luna classic. So, I have seen lots of tweets getting put out there over on Twitter talking about this. You can see at Luna classic whale right here and you can see a bit of an increase in Luna classic price right now.
But again, nice increase in the price of Luna classic. So, it’s still early days but the vote is looking good. So, the vote for the Luna classic is looking good right now. This looks potentially to become a reality in the future and with that vote, there has been a bit of interest back into Luna classic right here on the price graph. You can see it right here but what really would be the next step for this, so this needs to be implemented. Then once you have this transaction tax and we talk about lots of cryptos on Cryptozoos that have transaction taxes. They are good ways to fuel the ecosystem they are good ways to burn down the supply as well. Now potentially that this 1.2 percent tax will come into play for Luna classic in the future. You need to give people a reason to transact in that ecosystem. So, you need a reason to put burns through for Luna classics. So. is there going to be a play-to-earn game or is there going to be some other type of default opportunity kind of what is the big utility here? This is going to have to get built out by the community in Luna classic. So, that’s realistically going to be the next step. But, again, it’s a really nice step in the right direction for Luna classics. So, it’s not over yet. It is a high reward high risk crypto and we do know as well. A lot of interest from Do Kwon or the leadership of Terra 2.0. It’s focused on terry 2.0 at the moment, so you can see Terra money putting out tweets about pax right there about building out some other things on Terra 2.0. But there is still a community out there who do want to see Terra Luna classic succeed. What is your biggest crypto holding? Do you just hold Bitcoin? Do you hold another crypto? We also have some inspiration from CZ as well. So, check out this tweet retweet it from CZ himself. If you work hard enough, you won’t hear any noise. So, that is true, so one way to make money in the crypto space is you just got to work hard. You got to focus and potentially could you get a side hustle to generate more revenue to help you along your journey towards financial freedom. So, that is the destination for a lot of crypto traders out there. So, some nice inspiration from CZ of Binance and with that.
Let’s check out the crypto prices today so at the time of recording this. You can see Luna classic up 28.2 percent. So, congratulations to Luna classic holders out there. HNT up 17.7 percent theta bit of interest in there. It’s up at 6.7, Luna 2.0 down a bit today and mixed date on the crypto market. Again if we do take a look at the Bitcoin charts right now and this is a key indicator of where the rest of the market is going. We are seeing basically this battle around the 30 000 point. We are seeing lots of waves in the crypto space, so you can see these waves kind of moving around. But it realistically is staying around the 30 000 mark which is good. So, I think 30 000 even though the crypto prices haven’t been surging like the good old times in the crypto space holding up the 30k level is still pretty good because we have to understand. If you do take a zoom out on the economy right now, there is still a ton of fun out there and I do think cryptocurrency is holding up well.
We did see that speech from Michael Saylor, so he thinks Bitcoin in the future will go to one million dollars. So, one million dollars in the future that is what one of the biggest Bitcoin holders in the world is saying right there. Guys, it’s gonna be interesting to see where Bitcoin goes in the future, and remember, this is still early days in the crypto space. So, if you have a long-term mindset about some great quality projects out there big utility big potential adoption revenue generation things like that I do think there is some nice potential out there, but that is a massive wrap on the crypto market for today.
This article is a transcription of a video made by Crypto ZEUS
Original video: https://youtu.be/4-u6RsxSIbE