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I don't know who needs to hear this, but some LUNC buyers unironically think like this, so - facts: - LUNC will never hit $0.01 no matter how much you burn - Burning will have very little price impact due to dead on-chain volume - Major exchanges will never participate *braces*pic.twitter.com/QamWp69haO
Let's reiterate with maths. Assume Binance burns their entire 2.17T (2,170,000M) LUNC wallet, a bigger burn than all of the proposals, bringing the supply down to 4.37T. A $0.01 LUNC will require a $43.7b market cap - 109.25x higher than the current market cap Not possible IMO
The people telling you that you can 'burn' a coin with no product and push it to a higher all-time high market cap than LUNA at its peak are lying to you. They are feeding you with irresponsible false hope and it does far more harm than good. Be rational about your positions.
Nobody asked you though, if you ain’t gonna help the process stay in the corner and mind your business
0.001 is totally possible man!
And what makes you that Binance and other exchanges will not continue to keep buying and burning to increase their value? Why you going so fudding on lunc lately bro? Wtf
becuae he's a daytrader riding on the fuds and fomos
Binance removed 90% of Luna hot wallets with no authority or authority this would seem to indicate they did not have the stated number in there wainventory an had also mislead investors . I know they took my 38603 hot wallet
Yes the best solution is to restore the peg. The people in charge could ajust the tax of the new prop to raise a good fund to ust.
Assume burning won't stop at 4.37T.. Calculate again.
True, however there is space to develop an enhance technology that builds value as they burn. Again, Luna was a $40b asset once. The probability is 50/50.
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