Why is LUNC soaring?
Everyone knows the story of Luna's collapse in May 2022, which led to a severe crypto market crisis, leaving many investors disappointed with the Terra team.
Although Do Kwon, the dev of the Terra ecosystem, has faced court in 2023.
$LUNC
CZ, the former CEO of Binance, was very disheartened by the Terra team's failure to address the issues of restoring the ecosystem, resulting in nearly $80 billion evaporating.
The Terra ecosystem has split into two systems: Luna and Lunc. They attempted to rectify the situation by compensating retail investors with new Luna tokens.
As of now, LUNC has surged by over 103% in just a week.
What is smart money doing with LUNC? It's not just about the collapse; it's also about the hopeful return to $1. However, the reality on the chart indicates that the candlestick on October 6th was not one that could attract liquidity, as the volume of subsequent candlesticks has been nearly non-existent.
So why is the price rising? Let's revisit the story of oil between the U.S. and Iran. Under pressure from sanctions and continuous failed negotiations, oil prices have surged around $105 to $109. But for crypto, the story is entirely different; everything has stagnated without any panic moves. Yet, LUNC has unexpectedly rallied as if it had risen from the dead. Binance has returned to support burning tokens to increase liquidity.
We can conclude that LUNC is testing the market's liquidity. Are retail investors ready to throw money out the window!?
"This is not investment advice! Please consider your wallet."
If anyone has their own opinions, feel free to comment below!
Everyone knows the story of Luna's collapse in May 2022, which led to a severe crypto market crisis, leaving many investors disappointed with the Terra team.
Although Do Kwon, the dev of the Terra ecosystem, has faced court in 2023.
$LUNC
CZ, the former CEO of Binance, was very disheartened by the Terra team's failure to address the issues of restoring the ecosystem, resulting in nearly $80 billion evaporating.
The Terra ecosystem has split into two systems: Luna and Lunc. They attempted to rectify the situation by compensating retail investors with new Luna tokens.
As of now, LUNC has surged by over 103% in just a week.
What is smart money doing with LUNC? It's not just about the collapse; it's also about the hopeful return to $1. However, the reality on the chart indicates that the candlestick on October 6th was not one that could attract liquidity, as the volume of subsequent candlesticks has been nearly non-existent.
So why is the price rising? Let's revisit the story of oil between the U.S. and Iran. Under pressure from sanctions and continuous failed negotiations, oil prices have surged around $105 to $109. But for crypto, the story is entirely different; everything has stagnated without any panic moves. Yet, LUNC has unexpectedly rallied as if it had risen from the dead. Binance has returned to support burning tokens to increase liquidity.
We can conclude that LUNC is testing the market's liquidity. Are retail investors ready to throw money out the window!?
"This is not investment advice! Please consider your wallet."
If anyone has their own opinions, feel free to comment below!