We have some big updates to talk about for Luna classic today. So, what we’re going to do is we’re going to take a look at the price of Luna classic. But I also want to bring you up to date with exactly. What is happening with the development of the 1.2 percent tax. Are we getting closer than what we originally thought is just coming out quicker than anticipated? That’s what we’re going to be talking about.
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I just want to point it out today. The crypto market is green so it’s really good to see these price pumps in the crypto market. We always want to see the green moon shining and check out these updates for Luna classics so things are actually happening quicker than anticipated. So, have a look at this update. This one is a fresh screenshot out of the discord. It says right here we are like six hours from the staking block on rebel one. If we don’t crash it and the block passes with staking working. We’ll proceed to prepare the main net release so most of our focus is on that at the moment, to be honest. So, they are talking about the main net release of the 1.2 percent burn which is exciting. This is the first step.
If you been tuning into the channel, the very first step we need to get the ball rolling for Luna classic is this 1.2 burn. We also have some more updates to talk about right now for this 1.2 burn and check out this one. So, we had a lot of other updates coming out of the discord. So, one really good thing – I want to point out to you is that the Terra rebels seem to be really open with their communication style out of the discord seeing lots of fresh updates which is great to see. It says right there here. How is it going with the validator unit test and new rebel on the block that we have some bullish updates right there? Then on top of that someone else is asked. This means we’re in the final steps for tests to be complete Ek 826 has said end game right there. We also have these updates right here and it says I’m going to make the v21 release. There are a few more unit tests that need to be written and also going to fully document or release the results of the test. So, it looks like potentially the test net wrapping up is the 1.2 percent burn coming in live. It definitely does look like it’s going to be happening soon.
So, they’re testing out to make sure the network doesn’t crash. Then, after all, that testing is complete guess what the 1.2 burn will come out live which is going to be great. In addition to this, I have seen these big tweets coming out from happy caddy crypto so people are watching the binance hot wallets. It’s really interesting. So, apparently Binance does have a lot of Terra Luna classic, and also from this what’s going to happen we’ve spoken about it before on the channel. But, as a bit of a game plan potentially for Terra Luna classic. We’ve got three steps to talk about. We spoke about them yesterday, but just to recap you 1.2 percent burn. Once this is life that is going to be great. Then you need to see a bit of ecosystem build out.
It has to have a living breathing ecosystem with some daps, some real development in there some real utility floating around and then step number three. This is where potentially some really crazy volume could kick off and that is the binance so you guys know CZ Binance. He’s spoken about this 1.2 percent burn. He requested specifically what he said to us. What I want to see is a 1.2 percent burn on chain first and it looks like the terror rebels team they’re getting closer and closer every day to getting this burnt on the live chain. Then after that binance may be knocking, so that is a really big update. If we do take a bit of a look at how the price is going right now.
We are seeing a bit of consolidation around this 0.0001 level. So, the prices are kind of holding steady around this zone right here. The burn number is up to 1.241 billion and after all that stuff. We talked about the 1.2 percent burn of the ecosystem and also Binance that in my opinion is where you know the burning of the crypto happens and that’s where you get those theoretical increases in the price of this cryptocurrency. So, it all does come down to volume and it will come down to burn. I do think there is definitely some nice potential because we already know. The luna classic army on Twitter, it’s pretty strong. So, every time I’m jumping onto Twitter these days and I’ve just refreshed the Twitter live right now on my profile. You can see it right here. Luna classic is trending along with Satan right there. So, Luna classic is looking good with Twitter. Look, this is gonna be it’s gonna be a good one to watch out for. We’ll keep up to date with these updates, if anything big happens.
This article is a transcription of a video made by Crypto ZEUS
Original video: https://youtu.be/BFu03P8HbRg