Terra Luna Classic to one dollar what would need to happen for this cryptocurrency to get up there. What are some big variables that we need to come into play? That is exactly what we’re going to be talking about. If you would be happy with another price target for Terra Luna classic, maybe, it’s 10 cents maybe it’s 30 cents, maybe it’s one cent maybe it’s less than one cent.
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You can see right here, we have seen a lot of consolidation in the last couple of days of Terra Luna classic kind of sitting at around this 0.0 level so that is a fair way off one dollar but importantly what would need to happen for Terra Luna classic to get up to one dollar and to recap you where are we up to with this cryptocurrency. So, what are some new updates we’ve had what are the big factors that are coming into play. You can see this tweet right here full test net is now up and operational two validators are currently running the 1.2 percent burn tax. That is good, so we are seeing the one point two percent burn tax for Terra Luna classic getting configured in the test net which is a really good thing to see. The governance is getting past taxes are being burned.
This is really nice so what we are seeing is Terra Luna currently in a bit of a testing phase getting the 1.2 percent burn tax up and running on this cryptocurrency so first of all the first step I’d love to see is this 1.2 needs to go live so this is basically the fuel the growth fuel for Terra Luna classic to really climb up in price because I think without that it’s going to be a lot harder because one of the key things. We are looking to achieve with this crypto is I do have the burn number right here. So, the burn number sitting at 1.23 billion. Currently, we need to see this up to around 6 trillion plus okay to get Terra Luna classic close to one dollar. So, reasonably that is what needs to happen so that burn number needs to shoot through the roof. I think is a bit of a foundation that 1.2 percent needs to go live the second step that needs to happen for this cryptocurrency is once we have this 1.2 percent life. Then that is really good because we actually have seen other cryptos on the channel, so if you like new crypto currencies moonshots new coins ones with taxes we cover them all the time on Crypto Zeus. But, what’s important is that once you do have that up you need lots of volume.
This is natural volume in the ecosystem right. So, you need to have natural volume kicking in for this cryptocurrency so number two what needs to happen here is the ecosystem needs to get built out. So, you need lots of daps you need lots of crypto developers working Luna classic ecosystem and there needs to be a healthy ecosystem that is naturally generating lots of volume for this cryptocurrency. That is going to push the burn numbers up higher and higher. So, those numbers are going to go up once that 1.2 percent goes live right there and again those cryptos that naturally have good utility what you’re going to find in the crypto market is they do go up in price. So, one good example of that is that we’ve spoken about this one before BNB coin is a good example of that. So, this one used to be trading at around six cents it actually hit an all-time high of around 680 or something like that something crazy and currently it’s trading on 253 dollars. But, why is bitcoin even up at 254 dollars? Currently, it’s because it has a healthy ecosystem.
If you want to launch a crypto on the binance smart chain, you need some BNB. If you want to fuel transactions in the Binance smart chain make any token on the buy now a smart chain. Do anything you need to be in bitcoin, so it has real utility so Terra Luna classic. If it becomes like the really important utility crypto of the ecosystem. There’s lots of cryptos launching on lots of daps that is where you’re going to get some good volume for this cryptocurrency and if we do take a look at the BNB coin market cap. It’s sitting at 41 billion dollars and currently, the Terra Luna classic market cap is only sitting at 676 million. So, again if Terra Luna classic was to play catch up based on utility in the crypto space you could potentially see a 40x up to 40 billion dollars plus or more, and that’s just based on utility what else would fuel Terra Luna classic towards that one dollar price target guys the other big thing that we’ve been speaking about is that centralized exchange burn from Binance. So, once we have these two steps kicked off right here. So, once these are achieved with the Terra Luna classic.
It’s got a 1.2 percent burned life the volume is naturally going through for this cryptocurrency. So, people are transacting in this economy this ecosystem that is what’s going to happen. It’s going to get us a seat back at the table with CZ of Binance, so Cesar Binance. He has put out the tweet to the community and he is a man generally of his word. If you got into BNB coin at six cents and it’s currently trading around two 254 dollars. You’re sitting on a ton of money, possibly, you’re retired and one thing that has helped fuel those people who got into BNB coin is CZ. he always seems to be a man of his word so he is put out right here. There blockchain needs to implement the burn first and then possibly are we going to get a seat at the table. So, I think with that tweet right there luna classic has earned itself a seat at the table with CZ of Binance and if you go to Terra Luna classic on coin market cap, we scroll down the bottom here.
There’s some healthy volume on finance and there’s some healthy volume on some of the other crypto exchanges. Some days, it’s been as high as 100 million dollars some days it’s 40 million dollars today sitting at 27 million dollars 1.2 of that is nothing to be laughed at. So, that’s a lot of money that’s a lot of burns going through for Terra Luna classic I have done the maths on that before. But, big picture is that would burn up a lot of this crypto, so right there that would also fuel these trillions of burns, so realistically how long is all this stuff going to take to happen. It could be a multi-year journey. So, I reckon this 1.2 percent live we may get this within the next couple of months and that volume is going to be a real good test for this ecosystem. So, it is going to be good to see the natural ecosystem get volume with this 1.2 percent life. That is the next step and then after that. I think that is when we get a seat at the table with seas out of Binance.
That’s when all the burns can go through and remember to get up to six trillion that’s going to take you a bit of time to get up there. So, that is a long-term journey so it might be possibly multiple years and personally what do I do in the crypto space. So, I am a diversifier in cryptocurrency. You always have to remember to take these lessons from susetta. By now it’s not understanding that money crypto is a risk. So, there’s always going to be risk and reward in the crypto space. There’s never any guarantees whether cryptos will hit price targets or not and uh one good example of that is CZ Binance his own coin as well. Who knows. In a different timeline CZ Binance. He could have got sick and maybe he had to pause or abandon the BNB project that could have gone to zero instead of six instead of 254 dollars and that is just some of the risk and reward in the crypto space. So, you always have to remember. There is always going to be an element of risk because we don’t know the outcomes of all those variables the timelines the exact timelines.
This article is a transcription of a video made by Crypto ZEUS
Original video: https://youtu.be/nzRJIjPACMc