We have some really big updates to talk about for both Luna classic and also Terra Luna 2.0. As well, so I want to give you a two for one update and I want to talk to you about the burn of Luna classic as well. So, we do have a big update on the burn. We’re gonna cover that.
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I want to kick off this with a big update from Luna 2.0 actually and it’s had one of the biggest trading volumes in may uh setting records. So, two billion dollars in May for a trading volume of two-point Luna 2.0. If you are interested in trading either Luna 2.0 or Luna classic one of the best crypto exchanges to trade it on is Q coin you can, if you want you can sign up to Q coin. There are some bonuses on sign-up, but they trade both Luna classic and Luna 2.0. This is where currently I’m trading some of my Luna right now. But, they do have some nice bonuses, if you’re interested in getting some sign-up bonuses right there. So, it’s a really good exchange if you want you can check it out right there. But, let’s get back to this article and one of the things i want to point out to you guys is that with volume what happens with volume so when you’re getting volume in the billions what does it mean guys that means there’s a huge amount of interest in this cryptocurrency uh absolutely mammoth and apparently right here luna 2.0 was in the region of 2.48 billion from May 28th to May the 31st right there so that’s absolutely insane and it does actually give us some insight as well to Terra Luna classic.
So, have a look at this Luna 2.0 did have more trading volume than Tera Luna classic so in the last four days of may luna classic had a combined trading volume of 741 million so that is still a lot of interest in both cryptocurrencies, so two big winning statistics right there and we know right now. There is a ton of crypto exchanges that are trading both Luna classic and Terra Luna 2.0. We covered them BuyBit was actually one of the first ones to list it. But right now it’s pretty much tradable on any of the major ones but if you want Q coin does have those bonuses. And if we do jump over to Twitter for Luna 2.0. What you’re going to see for Luna 2.0 as a bit of an update is. There is a lot of development happening with the ecosystem of 2.0, so you can see right here.
They are kicking off a lot of their apps, their decentralized exchanges, things like that Tera 2.0 is starting up and the axilla network is like live. You’ve got Phoenix Finance. It is live. you got Stata labs that is live you have Terra swap that is live. So, a lot of things are starting to get kicked off. Ontario 2.0 chain right there and we also have this big insight as well so a lot of the other ecosystem apps the other things that are getting built out on 2.0. You can see an official summary right here and we’ll go through some of these, but you’ve got the analytics sector so lots of ecosystem development right there. You got some asset management protocols right there getting kicked off Nebula, Hex, Trust, Terra, Bridge, Angel, Hermes. You got the Dexter’s as well, so phoenix astroport Terra Swap Loop infrastructure launch pads as well. NFTS on 2.0 savings wallet and yield derivatives and yield optimizers right there.
The key takeaway is there is a lot of development happening on 2.0 and we’re going to jump to the price of Luna 2.0 right now. And I do have the Luna slash USDC coin pair from q coin right here. You can see right here in the last day or so there has been a bit of a spike in our interest in 2.0 to some degree. So, it has climbed up to a recent high of around 7. 57.40 right there did retrace slightly trading around seven dollars so 2.0 is still a massive cryptocurrency. You have to remember even though the price is seven dollars and it has a total supply. Once it’s fully released of one billion, so this is a seven-billion-dollar cryptocurrency. And if we do go to the CoinGecko charts, we can benchmark it to see where it’s currently sitting. So, right now Luna 2.0 is in the top 15 fully diluted market cap right there so that is really interesting.
Let’s talk about Luna’s classic burn and this is a high reward high-risk currency at the moment. So, I know there are a lot of fans of a Luna classic. You a fan of this on the channel, I’m a fan of Luna classic as well.
And there is a big focus right now for Luna classic what it needs to do and that we’ve done some dedicated videos about this, looking at market caps and you know supply as well. But, one of the big focuses is on burning the cryptocurrency and if we do have a look at our Luna classic right now, currently trading at around the 0.0001 level over on Q coin right now. What we do need is we need lots of burns for this cryptocurrency. So, the more burns for this the better on top of that what else we’re going to need is we’re going to need some ecosystem development potentially on this one as well. So, if Luna classic doesn’t want to be just a Meme coin, so there are articles out there. I did read through this one, but listening as a Meme coin what it does need? In my opinion, it needs to start in the future developing on its own chain so creating some apps games exactly kind of what we saw with Luna 2.0 here. If Luna classic can do that it’s going to be very interesting to see what happens. There, actually, is a website at the moment. I want to bring this to your attention to give you that up-to-date information that is tracking some of the burns that are going through for this cryptocurrency. So, if we jump over to terrarity.com have a look at this total burned Luna of Luna classic.
You’ve got 725 million so nearly 1 billion Luna has been burnt and you can see the Luna and the UST basically flying in to this burner dress right here. So, the Luna is flying in, and again what it’s going to come down to for Luna classic. Snd we did run through that mathematical equation yesterday on the channel I know. So, the supply needs to come way down that’s going to come in the form of burns. In my opinion or potentially people have talked about like attacks as well on Luna classic. So, if we can have attacks on Luna classic I think that would be very good as well. But, at the end of the day, I think the safest bet. If it doesn’t want to be a Meme coin it has to make up its mind. Whether it wants to be a meme coin or a utility coin. And if it does morph into a more of a utility coin, it will come down to like burning it in the ecosystem app development things like that. So, that is what to look out for Luna classic, but it is some good news that the burns are going up possibly. We’ll get to 1 billion burns for Terra Luna and I think for this one to really go up in price and could it one day get to one cent could it one day get to a dollar. We’ll find out in the future.
This article is a transcription of a video made by Crypto ZEUS
Original video: https://youtu.be/qvgDubovbHM