This is not financial advice. Do your own research. I
If you by any chance decide you want a piece of this, don't do it later after it pumps.
Not be be confused with what is now dubbed "Luna Classic" We're talking Luna 2.0
Tomorrow ( or even tonight, not sure on the exact time ) this monster will be unleashed.
Max supply - 1,000,000,000 coins ( <<< This is crazy )
Starting Price..... We'll see ( Cheap for a few minutes I presume )
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I question if I'll be able to even get any of this on day 1. I'll be at the exchange offering a higher price, along with other investors offering higher prices.
I expect this to go from fractions of a penny, to possibly $20 in a short amount of time.
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The story behind Luna Classic is a disturbing one. It's been the 5th largest cryptocurrency in the world.
Luna Classic "HAD" a system where it started with a fixed supply or it's native coin, and it's own stable coin UST.
UST was backed by Luna itself, and it was option for users to swap between the two coins based on it's current value. With that, the Luna and UST would mint, or burn one another.
Something happened this this, where the CEO of Terra was getting too cocky with other investors on Twitter, in turn some billionaire traders decided to rock Terra's system and they managed to unpeg the UST. UST fell from $1 to $0.70, which then caused a massive sell off of UST.
The UST sell off ended up minting more Luna, Luna itself was also rapidly falling in value because it's utility was going to shit, and in the process a fuck ton of new Luna tokens were minted Bringing the total supply to...
6.9 trillion....
On April 4th Terra Luna hit it's all time high of $119
Crashtastic.
Suicides, mad people, and a lot of unhappy bag holders still going on. Individuals losing millions, while the biggest holders, not even funny what happened to them.
I checked out Terra Luna this week at one point I could have gotten 10,000,000 coins for a measly 1k, while jusssst last month that many coins would've been worth.... $1,190,000,000
Because of the newly minted Luna coins bringing the supply to 6.9 trillion. For this coin to hit $1, it's market cap would be worth more than every cryptocurrency in the world combined 7 times plus.
I don't think it's realistic for this to return to a penny. And after it crashed it already pumped. As seen in the image above it crashed as low as $0.0000009 and currently it's up 13,865.5%. So congratulations to those caught a falling knife on May 13, you made multiple millions off of fractions of a penny with a tiny tiny investment.
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Tomorrow, Luna 2.0 comes. No one will want to sell. I really doubt I'll get any on the first day while it's so cheap. My exchanges won't have access to all of them, plus the majority of Luna 2.0 will be distributed over the next 2 years or so.
Terra Luna 2.0 will most likely save it's fallen investors. As for Luna classic, I don't recommend it, there's a reason why it's crashing again today. People are dumping it cause the Terra Luna team already took a snapshot of the holders, and the 2.0 coin will be distributed accordingly, plus massive support from exchanges, low supply, very large community. In this bloody market, this one will shine.
#1 trending crypto everyday.
Tomorrow the new Luna will be trending #1
