The terra luna classic price has been looking really nice in the last couple of days. You can see the price is increasing and what I want to do is give you a big update on this 1.2 burn. We actually have some news on one thing that can make this happen very soon that we’re going to talk about. So, what just needs to happen for this 1.2 burn to go through and how the overall numbers are going are we closing in on 2 billion.
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I’ll give you an update. You can see today is a good day on the crypto market. The market’s pumpingб there is a lot of green in the market and you may know what’s happened. There’s some funny things happening in the stock market right now. There’s been some good earnings reports, so the earnings are looking good. But, ironically we’re getting signals of a recession. But, it doesn’t matter that the crypto prices are going up, so some very strange things are happening in the crypto market.
Let’s talk about the Luna classic burn because the biggest thing that’s going to help out Luna classic is the cryptocurrency. It is going to come down to this 1.2 burn. So, we need this 1.2 percent burn to come online as some numbers right now. We’re actually getting pretty close to 2 billion lunar classic burns, we’re up to 1.656 billion and we’re closer to 2 billion right now than we are to 1 billion.
This is good so this is some nice grassroots efforts, in my opinion, this has all come from all those little decentralized projects that we’ve spoken about exchanges chipping in and NFT projects chipping in. The Luna classic burn number is continuing to look very strong so some good community support behind this crypto. In regards to Luna classic the 1.2 percent burn and the build out of this ecosystem I did come across this tweet and it says right here the future of luna classic is highly dependent on Orion money right now. We need 12 more and they are a validator with a 14% share of the vote. Please do the right thing for luna classic and for crypto as a whole this has gone on way too long. It’s time to re-enable delegation and staking.
What we need right now for luna classic is we do need a lot of these validators or people who own or can have voting power. They need to really get behind a lot of these proposals, so these proposals have been put forward. They’re pretty much at the end of their testing phase and we do need these to support this cryptocurrency. You can see this big letter from our terra luna classic community over on twitter kind of reiterating. Exactly, what I’m saying is that there’s a lot of validators out there with um voting power and they need to get behind what the community wants. So, we want a 1.2 burn. We want to get this party started.
It’s been way too long and we just want to kick it off, so we want to see all this good stuff happen for Luna classic and a lot of these validators still own. A lot of the power to make that happen. We want to see us, so I do think it is important these validators do get behind the project and they do support the project as well. So, we are just waiting really for the validators to get things rolling. Then, in my opinion, that’s really when the lunar classic burn can really take off. S, we’ve got up to 1.65 billion and that’s based on the community. So, the community is really chipping in, doing those burn projects, doing those fun cryptos, those moonshots. That’s been helping out the burn but what really is going to help out the burn. It’s that ecosystem. We’ve spoken about the ecosystem before and that is the big one. So, ecosystem build out of the lunar classic ecosystem get the daps online get the d5 projects online, get those play to earn games going in the luna classic chain get that 1.2 percent burn and then also on top of that.
We need to go back and we need to talk to CZ of Binance. We’ve been speaking about caesar binance a lot and he needs to get on top of this as well. So, he said he potentially he’d love to see an on chain burn. We just need that to happen and then after that caesar binance could put a 1.2 burn on binance.com and that would really push up the burn. But, that is a big update. The rest of the crypto market is looking good today. But, in my opinion, Luna Classic is still strong just waiting for validation approval and funny things happening in the stock market.
This article is a transcription of a video made by Crypto ZEUS
Original video: https://youtu.be/TaAitjW9r0M