LUNC Crypto. Why Investors Still Put Money into this Coin?
Wealth? Power ? Or a combination of any of them. These are the only reasons we can understand why investors have invested a lot of money in LUNC crypto. And that’s what people are doing.
In the last inspection, the transaction volume of LUNC crypto exceeded 500million US dollars. For a failed project, this is an amazing amount of capital flow. It is no exaggeration to say that this experiment of Terraform Labs is one of the most closely watched projects in the cryptocurrency world. Moreover, it collapsed in a disastrous fire.
This is a typical example. Just a few months ago, the transaction price of Luna (Terraform changed its name after its bankruptcy) was $80 per token. But in just a few days, its value plummeted to a few cents. Luna’s price chart is similar to the cliffs of El Capitan in Yosemite Valley.
Luna fell a long way soon. And nothing can protect investors. It was so ugly that Do Kwon, CEO of Terraform Labs, announced the restoration plan to save Terra ecosystem. He implemented a hard fork. At first, some people were optimistic about the success of the plan.
First, Terra is basically disconnected from the old Terra blockchain. Then the Luna 2.0 token was introduced. This will now be traded in the name of Luna. The old Luna token will be renamed LUNC. Although it failed objectively, some people still saw opportunities in this token. But we think these people are just fooling themselves.
LUNC Crypto Price Forecast
It is easy to find cryptocurrency clerics to preach the future value of LUNC crypto. And a large number of them are delusional. Even a few days after Luna crashed, people on twitter, telegram and reddit predicted that Luna would recover to $1. As a reference, according to today’s prices, this is equivalent to a gain of more than 1million.
Now we understand. It would be great to turn a $100 investment into a million dollars. And there are precedents to follow. We remember that Bitcoin miners sold their tokens for a few cents. We still remember reading that Laszlo Hanyecz bought several pizzas with 0,000 Bitcoin. We don’t know who got a better deal (at that time). But LUNC crypto is not the same as Bitcoin in the early stage.
It is not the subject of crypto winter. This is not a cycle of booms, busts and booms again. The Terraform Labs experiment was not successful. Its first wave, the representative of LUNC crypto, has been abandoned by its founder. They have shifted their focus to Luna 2.0 (LUNA). At best, LUNC crypto is an afterthought.Therefore, although LUNC crypto has jumped by nearly 50% in the past day, it is not for sustainable development at all.
It trades at a low price for a reason. It’s like a record company that devotes itself to a band and over suppresses its albums. There is just not enough demand to recover the cost. The current demand may be high, but it cannot last. Despite the recent surge in interest, it still trades at one thousandth of the price, which is one reason. This kind of token reached its peak long ago. And it is unlikely to break the $0.01 mark again.
Things that fall will surely rise again Am I right? If only it were so simple. Sometimes projects fail. Although it hurts investors, it is part of the process. We are not using this as a FUD to scare away potential investors. This is a warning.
Combing the social media, we have seen that people have called for LUNC crypto to reach $1, $6, or even regain its glory above $100. But this is unrealistic. As we mentioned above, there are many precedents of excess returns of cryptocurrencies. However, the prospect of LUNC crypto is not so good. Just because you see a cryptocurrency going up like crazy doesn’t mean they will all go up.
And we’re not just talking about carpet rises. Although there are many such situations that need to be vigilant. This (we believe) is a sincere attempt to make some new attempts at cryptocurrency. We have a stablecoin supported by our own token value. Terra Luna’s experiment was interesting, at least.
But it turns out that Luna can be used. The experiment failed. Although we feel terrible for those investors who have lost their shirts, this is the name of this emerging market game. Keep your chin. There is still money to be made. It is just not in the LUNC crypto.
This time, we want to warn investors to stay away from LUNC crypto. The technology behind it has died. Its raison d’etre has been extinguished. So is its price. Although we can understand investors’ natural desire for excess returns, there are better ways than this.
If, for whatever reason, investors are about to (without any reason) push the value of LUNC crypto back to an all-time high in the next five years, we will learn from Warner Herzog’s book. In 1979, when Errol Morris really finished his film about the pet cemetery business, he ate his shoes. If the cryptocurrency of LUNC reaches the previous high level, we will be happy to follow suit in such a scarce company.