LUNC (TERRA LUNA CLASSIC): The Truth Behind the Most Violent Dump in Crypto History (PART 1)
Terra Luna Classic, one of the cryptocurrencies that managed to make headlines around the world in the worst possible way. Imagine waking up and checking your crypto wallet going from something to almost nothing in a matter of days, this is what happened to all the Terra Luna Classic investors who unfortunately missed all the signs that led to Terra Luna's collapse. We can only imagine how investors who invested in Terra Luna Classic felt on the day the crypto experienced one of the worst crashes in crypto history.
History/Brief Information
1.This project was created by Terraform Labs, which was co-founded by Do Kwon and Daniel Shin
2. Created in 2018
3.Tokenomics: hyper-inflationary tokens (Currently but Proposal 3568 would result in a 1.2% burn tax on all USTC and LUNC transactions on the chain might help change LUNC from a hyper-inflationary token to a deflationary token in the future) (I will update This )
4.Ecosystem: Built on the Terra ecosystem (an open source blockchain that can host a dynamic ecosystem of decentralized applications (dApps and top-tier developer tools)
Terraform Lab (Brief information)
1.Established Do Kwon and Daniel Shin in Seoul, South Korea
2.Launched its first cryptocurrency token in 2019 (TerraUSD)
3.Successfully raised 200 million US Dollars from many investment companies
4.Terraform Labs allocates part of the money from the sale of UST to Luna Foundation Guard (LFG was founded in January 2022 as a non-profit organization based in Singapore and Do Kwon serves as director)
Price/Market Capitalization/Price Prediction
1. All Time High (ATH): 119.18 US Dollars (April 5, 2022)
2. All Time Low (ATL): 0.000000999967 US Dollar (May 13, 2022)
(The time between ATH and ATL is much more surprising if you look at the data)
3. Total Circulating Supply (2023): 5.82 trillion coins
