THIS COULD GET CRAZY!

THIS COULD GET CRAZY!

We have some crazy Terra Luna classic updates to talk about in the market today. We’re gonna be talking about CZ of Binance. Ye has spoken about the Terra Luna classic burn. So, we’re gonna break that down and then we’re actually gonna get into the calculation of that. So, what’s going to happen if Binance was to implement a burn on Terra Luna what is the impact on the crypto? What is the impact on the price?

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THIS COULD GET CRAZY

Let’s get into this big update and what I want to do is actually play you guys the clip. So, let’s play the clip then we’ll talk about what’s going on with the Luna Classic burn. Why are people asking about this? Do you know anything about this? In fact, actually, I did ask my team because I also saw a bunch of messages about that no one’s clear what exactly that burns is supposed to be is the team burning it is the exchanges burning it. Is there somebody else burning it? Should we charge a fee of like one point three percent for every deposit and burn one point two percent of it. Should it burn that the revenue we make should we go zero fees on Luna. So, it’s not clear what exactly that proposal is but should we just burn all of our user’s Luna. If I think of a pool of asking specific users. If they’re willing to burn 1.2 percent of their Luna. Most people probably say no. I did ask our team. So, but we’ll figure it out I think as long as there’s a common consistent way and fairway that applies to everybody. We’re more than happy to support whatever the community agrees on. So, we have a massive update right there from CZ of Binance, and what is critical to understand first of all. People don’t realize CZ Binance. He gets throwing cryptos every day thousands of cryptocurrencies get tweeted at him every day. So, first of all, CZ out of Binance is actually listening to the Terra Luna classic community. So, these proposals, this 1.2 percent burn, have actually reached the ears of the CEO of the biggest exchange in the world so that is huge and then second of all he said he’s looking into it. His team’s looking into it and they are looking to support Luna classic okay so that is huge so the community out there. What we want we want to burn on the volume of the crypto exchange.

THIS COULD GET CRAZY

So, that’s what we want going to break that down for you soon. But, that is just huge. So, there are so many cryptos out there. If you’ve been following the channel everyone wants to get listed on Binance. Everyone wants to catch the ears of CZ the CEO of Binance and we just had evidence that CZ Binance is actually listening to the Luna classic community. He may potentially implement a burn he did sound like he was a little bit confused on exactly what the burn is but to break it down simply for you. What do we want from CZ out of Binance. This is exactly what we want so we want a 1.2 percent burn. But the burn is going to come from the trading volume, so every time someone does a buy or a sell. There’s going to be a 1.2 percent fee that goes into that on the Binance exchange and that can and that can contribute to the burn wallet. So, the burn wallet that’s what we want, so we know there was another small crypto exchange. Yesterday we covered it on the channel they were looking to implement on the fourth of July only two days away. But, what we want is we want the big one to do it. We want to seize our Binance, we want the Binance volume because if we do go to Terra Luna classic and if we scroll down the bottom here we have a look at the volume have a look at this. So, the volume of Binance right here is 201 million dollars. So, 201 million dollars is huge.

THIS COULD GET CRAZY

If you got a 1.2 percent tax burn that CZ is aware of now of that amount. What does it look like right now, so I’ve put that into the spreadsheet so what is the USD value of this. What is the impact on this crypto that is 2.4 million dollars per day going towards the burn? 

THIS COULD GET CRAZY

So, if CZ Binance his team does implement that is literally the amount of US dollars that could go towards the burn wallet for Luna Classic roughly. How much Luna Classic would that be at today’s current price that is going to be around 19 billion a day right there, which is crazy. So, that’s only on Binance and Binance is the trendsetter. So, just remember if Binance was to possibly do it on their crypto exchange. How much longer before all the other crypto exchanges do it Q coin gate AO, FTX, QB global because Binance would be leading the way showing that they care about the crypto community and that is important. So, Binance has already made billions of dollars in money. They’re looking to just be you know the number one reputational source in the crypto space and it would be a good play to implement a burn tax right there so that is the number. 

You’re looking at per day per week. What are we looking at roughly we’re looking at around 139 billion per week and per month. How much would that be if finance was to put the 1.2 percent transaction tax on it 557 billion per month and uh so roughly that is more than half a trillion per month that is crazy. Then, if you’re going to go for the year for this where it would be up to for the year you would be looking at 6.6 trillion so right there you’ve pretty much you know killed off a lot of the lunar classic supply and that’s the theoretics behind it. So, this is the theory behind it so this is just a rough calculation. But you can see this is the magic of crypto so if the burn was to be implemented on Binance and that volume was to stay consistent. This is literally what would happen to the burn, so the burn would basically go through the roof if we go to the actual burn right now we’re up to 1.1 billion but we know the burn can go way higher than this in the future. So, that would be great to see and uh so this is all theory.

THIS COULD GET CRAZY

Just watch out for this, so right now as a bit of a big status update. We know CZ is aware of the Luna classic burn and uh importantly he did say he was looking to support the cryptocurrency. So, if we do get that support that is going to be absolutely massive for this crypto and if we do take a quick look at the price of this crypto right now. You can see it right here, so we’re hovering around the 0.00012 level currently, and again for this one to go up in price. What we need a massive amount of burn, so we’re thinking about different ways to increase that burn and that realistically as a longer-term cryptocurrency. So, right now we do know Luna classic does need to kind of evolve, so it needs to evolve into in terms of utility and also development as well as get that development up on the chain and get those adapts running and get that ecosystem developed as well. So, remember if there’s going to be a tax on the ecosystem transaction, so buy sell transfer in Luna classic 1.2 tax what needs to happen is there need to be incentives for the community to trade around lunar classic as well. So, there’s a lot of things that need to happen, but I just wanted to put that information out there for you.

o you guys can kind of figure out what the vision looks like for this cryptocurrency with all the variables as well. That is coming into play right now and as always make sure to do your own research and make your own decisions. There is reward and risk in the crypto space, so some cryptos can do very well. They can go up a lot in price. You get 100x gains other times, you may also lose your moneyб so in cryptocurrency always remember. There is risk in the crypto space, but I do hope Luna classic does go well. But, that’s a big update for today. If you want to sign up to a good crypto exchange you can set up to cue coin and also leave a link to binance as well 

This article is a transcription of a video made by Crypto ZEUS

Original video: https://youtu.be/iGEr7hcsFmg