We have some really important updates to talk about for Terra Luna the cryptocurrency right now. So, I want to give you these important updates. We’re also going to take a look at the price of Terra Luna right now, and where it potentially can go in the future. We also have another critical update coming out of the main Twitter account for Terra Luna.
I want to kick it off with these really important updates coming out of CZ. You know CZ actually does have influence over Terra Luna, so he has actually been on board the journey. He has been providing updates back to the community about his thoughts on Terra Luna. There’s also Bitcoin possibly with the Terra Luna ecosystem. We’re going to find out what happens with that Bitcoin. But, CZ of Binance has actually dropped some really important updates. Let’s go through these updates right here and he says these past weeks have proven to be a watershed moment for the crypto industry.
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We have witnessed the rapid decline of a major project which sent ripples across the industry, but also a newfound resiliency in the market that did not exist during the last market downswing. That is true. Back in 2017, the market was a lot more fragile, but right now it is a lot stronger. He says: “First, I need to address falsehoods circulating in crypto Twitter, so lots of rumors are going out there lots of fake news”. We want the facts and the truth on the channel and he says right here Binance did not participate in the second round of Luna’s fundraising nor did we acquire any UST finance labs invested 3 million USD in Terra the layer 0 blockchains in 2018. UST came much later after our initial investment Binance labs invested in hundreds of projects over the last four years, including exchange competitors and many competing blockchains a few of them have fallen by the wayside but a few have been extremely successful that’s how investments work and I just want to pause right there and that’s exactly how investments work.
So, crypto is always about reward and risk. If you want to make money you have to risk money in the worst case scenario, you can always lose all your money as well. You have to factor that he’s also said right here the last few days we tried hard to support the Terra community in my Tweets. I am simply pointing out the potential issues from my understanding minting forking doesn’t create value buying back burning does but requires funds. Funds that the project team may not have, this tweet here is really important, so he is a fan of buying back and burning the crypto. It’s that question of how much funds: does Terra has. How does it kind of buy up the crypto? How does it burn the cryptocurrency that is an interesting point right there? He’s also said here in this regard I would like to see more transparency from them. So, he’s talking about Duquan himself. What is Duquan up to?
We’ll have an update very soon about that much more, including specific on-chain transactions of all the funds relying on third-party analysis is not sufficient or accurate. This is the first thing that should have happened, so I just want to pause and explain that to you. So, in cryptocurrency, you may see transactions on the blockchain, but you need the context of those transactions. So, where are the funds going? What is the purpose of the funds? What they are being spent on is what Binance is saying right there. He’s also said here I am not always right but my perspective is failures. Failures will happen, but when they do transparency, speedy communication and owning responsibility to the community is extremely important. I am just hoping that the project team can rise from the ashes and rebuild in a proper and sensible way regardless of my personal views or the solution chosen in the end. We will always be here to support the community in any way we can so that is some massive tweets coming out of CZ of finance.
He is talking about Terra Luna and some really important points is CZ. He is saying he is here to support the Terra community and when you have the CEO of Binance who is here to support the community that is really interesting to see. But, he’s also picked up right here. He’s talking about the communication right now and all the lack of communication coming out of Joe Kwan right now. So, if we go to Dokwan’s Twitter account, have a look at this. There haven’t been that many updates in the last 24 hours from Dokwan. He is still mulling over the options right now. So, you can see here dear Terra community that was the big proposal he did put forward and he’s still kind of mulling this over. But, the key takeaway here is that the next price catalyst, in my opinion, is going to come out of Dokwan off Twitter. We are waiting for some updates from Dokuan and CZ of Binance is asking that question to the team of Terra Luna to basically come forward and give us an update. In addition to this, you have to be really careful as well. One critical update I want to share with you is there are lots of imposters over on Twitter.
There are lots of imposters of Crypto ZEUS. There’s gonna be ton of imposters of Terra Luna the cryptocurrency Twitter handle and they’re saying right here. All updates will be posted on this Twitter account any other Twitter accounts reporting to represent Terra are fake. Users are advised to be on the lookout for scams, so when you’re in crypto. Make sure to be going to the sources, so Terra money and Dokkon’s official Twitter account. They are the two sources that are critical for updates also over on Twitter. So, I’ve asked the question here can Terra Luna ever go back to one dollar and what are people saying right now. We’ve just put this poll out recently 59.4 percent of the community is saying it can go back to 1.40 saying that is not possible.
If we do take a look at the price movements for Terra Luna right now. What are we seeing recently? There has been that all-time low on the price chart right here. It did drop down to that minuscule level, possibly five zeroes and then some numbers and then we have this big pump up to this recent all-time high on the level of three zeros and a four and just recently. There has been a slight downtrend in the price of Terra Luna. Why is this happening on the price chart right now? I would say that this is happening because we haven’t got an immediate update from Dokwan, so I do. I’m a believer that our price updates. They’re going to flow out of the team of Terra Luna. How can they recover this project? What is the plan? What is going to happen soon? Dokwan is the man and we’re going to follow this journey. If you can pull it off you know possibly the price of this one could go up, of course. If he doesn’t pull off, if this doesn’t recover, it could go to the downside as well. So, always remember crypto, it is a high-risk high reward environment and you always have to be comfortable with those levels of risk in the crypto space. And if we do take a look at some fundamentals Terra Luna right now. There is still a huge amount of trading volume right now, so it is getting traded over on Q coin. You can see it live getting traded right there. That is where you can trade some Luna right now.
This article is a transcription of a video made by BitBoy Crypto
Original video: https://youtu.be/bcVYXCEw87I