The past week has been difficult for cryptocurrencies. According to #CoinMarketCap site data, the crypto market has lost $130 Billion in value since last week.
The sudden declines were so sharp that; The amount of money liquidated in the futures markets of crypto exchanges within 5 minutes amounted to $ 750 million. The amounts liquidated in the last 24 hours exceeded $1 Billion. The players who lost the most in the futures market were the players with bullish expectations, which we call "LONG".
☑️ The decline affected the entire market and Terra Classic coins $LUNC and $USTC were also hit hard by this decline. A harsher impact was also experienced in $LUNA 2.0, Terra's new coin.
If we summarize it based on #LUNC price; LUNC price dropped from the $0.000072 levels, pinned the $0.000052 level in a very short time, and then gained a quick reaction and rose above the $0.00006 level.
The wave of negative news in cryptocurrencies has increased especially in the last week. There is pessimism in the entire market. From our followers' reactions; We can understand that their patience is strained and their level of anger is increasing.
There is a feeling of impatience and nervousness, especially regarding LUNC. As investors, they are not wrong. It's like; LUNC and USTC also invested with great expectations and found themselves in a constant downward trend. Of course, although the negative situation in the entire market is effective in this; Our expectations from LUNC are very different.
🔶 As a result, we see that many investors are moving away from LUNC and even crypto as a result of all these negative price movements.
While market makers are pressuring prices; On the other hand, we think they realize that real investors are moving away from crypto. Everyone knows that this situation cannot continue like this forever. For this reason, we think there is a need for a new story that will bring out the excitement in crypto.
These stories will be created. Just as we encountered negative news every day in the bear market; This entire news wave will reverse when the market turns BULLISH.
▶️ In the title of our article, Is $1 a Dream? We asked the question. Let us remind you again that we use the $1 target symbolically in LUNC. We know that many investors will sell their LUNC until LUNC reaches $1, and we can predict that lower expectations will make everyone happy.
While we keep saying $1; It is obvious that seeing the price of LUNC falling makes investors even more angry, but if you are investing in Terra Classic, you should know that you should not look at the price.
There is a supply spread throughout the market in LUNC, and whoever dominates this supply the most will have the right to say in Terra Classic. In order for the LUNC chain to recover and function as before, this supply must be collected from the market and removed from circulation.
➖ For this reason;
The Terra Classic L1 team is working to reduce LUNC supply.
#USTC The Re-peg team is working towards the USTC $1 target and aims to burn the LUNC supply quickly as a result.
The #Binance exchange continues to burn LUNC and reduce supply.
Major authenticators such as DFLunc Protocol continue to burn LUNC.
As a result, the first goal of Terra Classic is to reduce the supply of LUNC and USTC. At this stage, no one is looking at LUNC and USTC at market price.
There is only one group that looks at the price; traders and impatient investors.
At the end of our article, we would like to say that nothing is impossible in crypto and the subjects we dream of may come true one day.
None of our expectations at LUNC are dreams. However, at this stage, what you investors need to do is; You should look at LUNC not in terms of price, but in terms of the quantity you have. For this reason, you do not need to buy very high amounts of LUNC and USTC. You can expect this dream to come true by purchasing a certain amount.
Thank you for reading our article until the end. We have been here for 1.5 years and we will continue to be here. #dyor
