There’s been some really big ideas getting talked about right now for Terra Luna classic. It involves the burn, it involves centralized exchanges and it also includes finance as well.
Now you can see the price currently for Terra Luna classic right here trading at around the four zeros and a five currently on the market and what’s been interesting about this crypto. There’s a big supply of Terra Luna classic, so there’s around six trillion-plus and what needs to happen is that supply needs to get massively reduced. In my opinion, it’s going to come in the form of burning up the crypto.
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The key takeaway here is we need a lot of burns to go through for this crypto. Let’s talk about some of these big ideas that have been floated around on the internet with the growing community in Terra Luna classic. Have a look at this one I saw this one from Musta over on twitter. He says right here Luna community we need to let our voices be heard to centralize exchanges to the 3568 proposal 1.2 burn each buy sell deposit withdrawal execute. So, that is really interesting what he’s talking about right now. There is that they want a burn on the centralized exchanges for Luna Classic, so you can see I’ve got Luna classic right here on Coin Market Cap and if we scroll down the bottom, it’s gonna show us some of the big centralized exchanges. So, check out some of the volumes right here in terms of USD. So, bitcoin’s a big one but have a look at Binance. So, Binance is around 11 million dollars’ worth of volume in the last 24 hours FDX 7.3 Q coin good exchange around a few million rights there. There’s definitely some other big crypto exchanges out there trading around Luna classic so one of the proposals that I have seen is that people want the centralized exchanges to implement the economics as well. Can this actually happen? I think it can because we know if you’ve been following this channel one of the cryptos, we have followed in particular was Safe Moon. Safebound had tokenomics put in place the exact same way as what Musta is talking about on the crypto exchange Bitmart. So, they implemented some form of like tokenomics. We also know the max c crypto exchange was doing its own kind of independent burn of Luna classic.
But realistically can centralized exchanges implement tokenomics. I do think they can so that 1.2 burn on centralized exchanges that could possibly happen how can that realistically happen. I do think the community needs to get behind it they need to kind of rally some of those big exchanges to get that going. So, that is one way more burns can go through for Luna classic. Also, I saw this interesting tweet right here and someone has pointed out Luna classic DAO. It says right here we were on the news in Busan Korea today translation from a Korean follower. New DAO aims to work to repair the financial destruction course by Do Kwon`s Terra word about Luna classic burn is spreading quickly. So, again you have more and more awareness about Luna classic which is really good to see, and could Luna classic kind of rise out of the ashes of Terra Luna the original to set the standard for cryptocurrency. We’ll find out and we also have these other tweets and this is linked to the centralized exchanges. We spoke about it earlier and this one’s coming out of Luna classic. So, have a look at this do you want Binance to implement the tax burn for Luna classic and 96 percent of the followers said “yes”. There were 2 000 votes so that is pretty good to see. So, again if binance was to implement a centralized burn of Luna classic that would be really exciting. We do know binance is a crazy amount of volume and again.
So, if it’s 11 million dollars worth of volume. Let’s just do some rough mathematics right here. So, we had 11 million dollars worth of volume on Binance. Let’s type that into the calculator right there then we were to times it by the tokenomics. So, let’s say there’s that 0.12 percent tax that’s going to give us a USD value of 132 000 and the price of Luna classic right now is 0.000 around the 5 7 level. So, if we go back to our calculator now and we divide this by zero 0.000 five seven that is going to give us a total amount per day burnt of how much is this and just counting roughly right here that would be equivalent to 2.3 billion Luna classic per day. So, that is absolutely crazy to think about indeed. So, if we actually go to the burn update for Terra Luna classic right now. You can see the burn at the moment it’s one billion but again if binance was to implement it based on my rough mathematics back there. What you’re going to see is 2 billion per day potentially of Luna classic getting burnt and that just imagine though.
What would happen is if all the other crypto exchanges implemented those tokenomics. So, that was binance what about all the rest of them as well. So, if they all had those tokenomics on the crypto exchange, it could get pretty crazy so that burn number could rapidly go up as well which would be good to see. So, that is really what I think needs to happen right now for Luna classic. So, those burns I do like these proposals coming out of the community and I do feel like the community is pretty strong. So, again Luna classic trending over on Twitter. If you guys are bullish on Luna classic or not do you feel the crypto community behind this coin is strong. We also have august the 22nd which is another big date for Luna classic. You can see some big changes. So, realistically, what do we need guys we need lots of development on Luna classic as soon as possible, particularly with a big focus on the exchanges, and then on top of that, the centralized exchanges were to get behind some of these burns that would be massively exciting. But that is a massive wrap on lunar classic let me know if you enjoyed this video we’ll continue the lunar classic updates.
This article is a transcription of a video made by Crypto ZEUS
Original video: https://youtu.be/MLLwr9a1sHQ