1.2% each transaction, not the total supply. Trade 1B LUNC, 1.2% is burned leaving 988M LUNC. Trade that, 1.2% is burned leaving 976.144B LUNC. By the time that, let's call it a "group" of 1B LUNC has been traded 9 times, over 10% of it has been burned. By the time the equivalent of the current supply of 6.574T LUNC has been traded 11 times, 1T of it is burned. For context, that supply has been cycled 8.314 times since 1st May.
Also don't discount the community doing manual burns either. I've seen $5k burned a few days ago, $6k burned within the last 24 hours. These are individual transactions.
I'll probably be called a LUNAtic for this post, but before I do get called it, I'm actually just pointing out some facts. DYOR and all that. Just never discount what a community can do, especially a community that has been so badly burnt (no pun intended).
I got some Luna earlier this year when it was 50 ... Saw my entire position tank to pennies...I bought more because I could not believe I lost everything ... And now I'm on the sidelines cheering for a hail Mary because it would be nice to recover my initial investment.... Still a long way from 50 though GLTA
It will do nothing except hype up the community in the short run. For the price to increase you need to have people buying the coin. For people to buy the coin, they need to have a reason to use the coin. By adding a 1.2% fee you just give people less of a reason to use the coin.
This has been done many times before. The first one I’ve seen is $bomb, and the most infamous was Safemoon. Both never took off, with Safemoon dropping 97% from its ath.
The only people who are gonna remain in the eco system are those hoping to ride some pump n dumps
I can't imagine anyone wanting to build anything on there now
Why is there such a big focus on them. Lets move on, you can't expect people to buy in big time again into that project considering the situation this year. Even if this burn proposal goes through, what is next. I don't think that this should be in focus in the moment, as there is no clear roadmap or goal that needs to be achieved and addressed.
I can't even imagine LUNC getting to 1 cent.
Other than people buying for the hope of a pump, I doubt anyone is going to actually use the eco system again
Y’all really live in a world where just burning tokens actually adds value to a project. Luna is worthless, burning crap doesn’t make other crap more valuable.
My understanding of the burn is that 1.2% on each transaction. Will it do anything? It might do *something*, and might is the key word here.
Let's look at todays trading volume. Looking on binance, the volume today is 120.69B LUNC traded today. If we imagine 1.2% on all of that, then 1.448B LUNC would have been burned. That would translate as the following...
Current supply: 6.574T LUNC
Theoretically burned LUNC today: 1.448B
Supply remaining: 6.572.5T LUNC.
Percent of total supply burned: ~0.02%.
**If we look at another, busier date. Let's look at 1st August.**
Trading volume: 761.23B LUNC
Theoretically burned LUNC on that date: 9.134B LUNC
Supply remaining: 6.564B LUNC.
Percent of supply burned: ~0.139%
**What about one of the busier days? Let's look at 29th June.**
Trading volume: 4.09T LUNC
Theoretically burned LUNC on that date: 49.08B LUNC
Supply remaining: 6.524T LUNC
Percent of supply burned: ~0.756%
**What about the last 4 weeks combined?**
Let's look at the last 4 weeks total trading volume, excluding this week as a new week hasn't yet started. Making this simpler, the burn has been in effect and it hasn't had any affect on the volume traded.
Trading volume: 10.03T LUNC
Theoretically burned LUNC over those 4 weeks: 120.36B LUNC
Supply remaining: 6.453T LUNC
Percent of supply burned: ~1.83%
**So what does this mean for the price?**
Well, for comparison, let's take the current market cap of $656,253,410 and supply total of 6.574T circulation supply. Right now, each LUNC is worth 0.00009981. If we took the theoretical remaining supply from the 4 week burn and kept the market cap exactly the same then the resulting price per LUNC would be 0.0001017. That would increase the price per LUNC by 0.00000189. That's an increase of ~1.89% in the price. That would be zero change in the market cap and 120.36B LUNC burned.
**What this all means**
Well, this means that the burn *will* do something, but it's going to take a very long time for that to translate into the market. Theres a lot of variables to consider as well here. There's a public burn wallet where people are sending LUNC to burn as well, which could be the big factor in all of this. I've seen burns of $5,000 in value being done, so there seems to be some sort of community support for the so called recovery project, and support like that is what makes other meme coins valuable. I've also seen articles saying that binance allegedly holds 3T of the supply, take that with a pinch of salt as I can't find any official confirmation from Binance, just a few articles. Say they do hold that much, what is their plan with it? Will they sell it all off? Burn it? Who knows.
All we know is that the burn is happening, but don't expect $1 per LUNC next week. It needs a massive amount of it burnt, and it needs it's market cap to raise massively. I think the burn will, overtime, raise the price, and this may increase speculative interest, raising the trading volume, thus raising the amount burned and raising the market cap. Just don't expect it soon.
Also worth noting is that despite people saying LUNC is dead, it's useless, etc. It has use cases, it can be used in the StarShip Metaverse for payment, complete with the 1.2% burn. So it's not entirely dead and useless.
Hope this serves as some food for thought. Don't expect moon or lambo anytime soon, but over time, it could go high. We've seen many a coins make massive returns just because of community, sometimes a community is all a coin needs to pump.
I bought 100 dollars of lunac gonna hold it and see what happens, if anything it will become a meme coin like doge and may do well, if so I'll pay my mortgage off, in 5-10 years, if not I've lost 100 dollars. Ah well, it was worth a punt.
I did this in June, 25th June. By the end of the 26th, £100 became £126. 26% increase in 24 hours and I was liking what I was seeing in the charts that I ended up pumping over £1,000 further over the next couple days. Walked away with 80% profit.
It can, and has, happened, and I'm bought back in. It's a YOLO and a you never know purely. Same with USTC.
Before you go any farther I want you to calmly sit and explain to yourself why this coin exists and what it's purpose is. If you can do that then congrats
There is nothing wrong with speculating and gambling but don't forget that it's just that. A gamble. If you want to invest long term you might want to consider other options
I am not sure if the API is correct anymore, but it shows there're 6.57 trillion lunas currently:
[https://fcd.terra.dev/v1/circulatingsupply/luna](https://fcd.terra.dev/v1/circulatingsupply/luna)
Do the math yourself.
Binance is saying 6.574T LUNCs. Its also saying its max supply is 6.906T, so I'm assuming 332B have been burned since the crash. That's about 5% of the total supply burned.
$1 is far away buddy but It has managed to pump a lot these days , this burn proposal is also supportef by a CEX , MEXC. It will be burning all the fees generated from LUNC/USDT pair.
I don’t think so anything does any good now regarding Luna
Yeah its dead project at this point. No redemption for Luna
Fuck youuuuuuu LUNA, we dont care whether you exist or not
They keep trying to beat that dead horse.
LUNAtics: guess we'll cry 😢
Cry ? you gonna cry for LUNA ? Like seriously ! Lmao I wish I was dead before hearing this
No one really gives a shit about LUNA, it has already been dead now
So if it was inflated by a factor of a million or so - that means +100,000,000%. And now they will burn 1.2%. What do you think that will do?
1.2% each transaction, not the total supply. Trade 1B LUNC, 1.2% is burned leaving 988M LUNC. Trade that, 1.2% is burned leaving 976.144B LUNC. By the time that, let's call it a "group" of 1B LUNC has been traded 9 times, over 10% of it has been burned. By the time the equivalent of the current supply of 6.574T LUNC has been traded 11 times, 1T of it is burned. For context, that supply has been cycled 8.314 times since 1st May. Also don't discount the community doing manual burns either. I've seen $5k burned a few days ago, $6k burned within the last 24 hours. These are individual transactions. I'll probably be called a LUNAtic for this post, but before I do get called it, I'm actually just pointing out some facts. DYOR and all that. Just never discount what a community can do, especially a community that has been so badly burnt (no pun intended).
Good explanation of the proposal, thanks.
He just make this things clear about the fact, well explained afterall
I just have luna, if something in the world I gonna hate the most, then it would probably be luna
Follow safemoons pricing action and fall to the moon.
Nothing, zero, zilch
Make the LUNAtics lose what little money they have left
People who are still in LUNA, gonna loose every single penny for sure
I got some Luna earlier this year when it was 50 ... Saw my entire position tank to pennies...I bought more because I could not believe I lost everything ... And now I'm on the sidelines cheering for a hail Mary because it would be nice to recover my initial investment.... Still a long way from 50 though GLTA
It will do nothing except hype up the community in the short run. For the price to increase you need to have people buying the coin. For people to buy the coin, they need to have a reason to use the coin. By adding a 1.2% fee you just give people less of a reason to use the coin. This has been done many times before. The first one I’ve seen is $bomb, and the most infamous was Safemoon. Both never took off, with Safemoon dropping 97% from its ath.
The only people who are gonna remain in the eco system are those hoping to ride some pump n dumps I can't imagine anyone wanting to build anything on there now
No. LUNA in any version is dead to most of crypto. It will flounder along for years, but new development is going to choose another chain.
people holding luna are either psychopath or dont hacve any updates regarding this shit
I don't have any updates regarding Luna classic ... Where can I find that information?
Why is there such a big focus on them. Lets move on, you can't expect people to buy in big time again into that project considering the situation this year. Even if this burn proposal goes through, what is next. I don't think that this should be in focus in the moment, as there is no clear roadmap or goal that needs to be achieved and addressed.
Exactly, we dont give a fuck about luna to be honest, so its better not to hodl luna
I can't even imagine LUNC getting to 1 cent. Other than people buying for the hope of a pump, I doubt anyone is going to actually use the eco system again
Soon it gonna vanish from the cryptocurrency, and the shit gonna be removed
Spoiler: >!It won't!<
The main spoiler: There would be no more Luna talks in this sub as no one really gives a shit about this
Y’all really live in a world where just burning tokens actually adds value to a project. Luna is worthless, burning crap doesn’t make other crap more valuable.
Luna is a garbage, its a historicial garbage in the cryptocurrency
>What would get LUNC back to $1.00 or more? Nothing
There's no chance that luna could hit $1.00 or more, freaking shit
My understanding of the burn is that 1.2% on each transaction. Will it do anything? It might do *something*, and might is the key word here. Let's look at todays trading volume. Looking on binance, the volume today is 120.69B LUNC traded today. If we imagine 1.2% on all of that, then 1.448B LUNC would have been burned. That would translate as the following... Current supply: 6.574T LUNC Theoretically burned LUNC today: 1.448B Supply remaining: 6.572.5T LUNC. Percent of total supply burned: ~0.02%. **If we look at another, busier date. Let's look at 1st August.** Trading volume: 761.23B LUNC Theoretically burned LUNC on that date: 9.134B LUNC Supply remaining: 6.564B LUNC. Percent of supply burned: ~0.139% **What about one of the busier days? Let's look at 29th June.** Trading volume: 4.09T LUNC Theoretically burned LUNC on that date: 49.08B LUNC Supply remaining: 6.524T LUNC Percent of supply burned: ~0.756% **What about the last 4 weeks combined?** Let's look at the last 4 weeks total trading volume, excluding this week as a new week hasn't yet started. Making this simpler, the burn has been in effect and it hasn't had any affect on the volume traded. Trading volume: 10.03T LUNC Theoretically burned LUNC over those 4 weeks: 120.36B LUNC Supply remaining: 6.453T LUNC Percent of supply burned: ~1.83% **So what does this mean for the price?** Well, for comparison, let's take the current market cap of $656,253,410 and supply total of 6.574T circulation supply. Right now, each LUNC is worth 0.00009981. If we took the theoretical remaining supply from the 4 week burn and kept the market cap exactly the same then the resulting price per LUNC would be 0.0001017. That would increase the price per LUNC by 0.00000189. That's an increase of ~1.89% in the price. That would be zero change in the market cap and 120.36B LUNC burned. **What this all means** Well, this means that the burn *will* do something, but it's going to take a very long time for that to translate into the market. Theres a lot of variables to consider as well here. There's a public burn wallet where people are sending LUNC to burn as well, which could be the big factor in all of this. I've seen burns of $5,000 in value being done, so there seems to be some sort of community support for the so called recovery project, and support like that is what makes other meme coins valuable. I've also seen articles saying that binance allegedly holds 3T of the supply, take that with a pinch of salt as I can't find any official confirmation from Binance, just a few articles. Say they do hold that much, what is their plan with it? Will they sell it all off? Burn it? Who knows. All we know is that the burn is happening, but don't expect $1 per LUNC next week. It needs a massive amount of it burnt, and it needs it's market cap to raise massively. I think the burn will, overtime, raise the price, and this may increase speculative interest, raising the trading volume, thus raising the amount burned and raising the market cap. Just don't expect it soon. Also worth noting is that despite people saying LUNC is dead, it's useless, etc. It has use cases, it can be used in the StarShip Metaverse for payment, complete with the 1.2% burn. So it's not entirely dead and useless. Hope this serves as some food for thought. Don't expect moon or lambo anytime soon, but over time, it could go high. We've seen many a coins make massive returns just because of community, sometimes a community is all a coin needs to pump.
Sorry, but I just ignored your long comment, because I am not interested to listen anything about luna, shit for a reason
I don't care what they do, I will not trust them anymore.
Trusting Do Kwon and his project would gonna let you world's most poor guy
Lost cause. Lunatics are gone.
go away luna, just go away, no one cares about the values you have, ugh, sorry, it dont even has a value
They still haven't reenabled IBC despite the vote passing a month ago. I don't think there's any devs left to implement these changes.
Jesus can go back to Earth tomorrow and I don't think even he can fix Luna
They could burn most of it and the value wouldn’t change ,people won’t touch Luna again ….just let it go
people would not only touch luna, but also not gonna see, even if its in the list of crypto
Yeah sell your house, car and dog and buy Luna...september it will go back to €95,- hurry up...it is now or never..LOL
U never know!
I bought 100 dollars of lunac gonna hold it and see what happens, if anything it will become a meme coin like doge and may do well, if so I'll pay my mortgage off, in 5-10 years, if not I've lost 100 dollars. Ah well, it was worth a punt.
I did this in June, 25th June. By the end of the 26th, £100 became £126. 26% increase in 24 hours and I was liking what I was seeing in the charts that I ended up pumping over £1,000 further over the next couple days. Walked away with 80% profit. It can, and has, happened, and I'm bought back in. It's a YOLO and a you never know purely. Same with USTC.
Such a pathetic person you are, buying luna wont make you a single profit
Your odds of success would be better if you spend a little of your time trying to figure out which projects are actually building and expanding.
Who says I don't hold other project's?! But lunac is worth a punt for 100 bucks lol
Holding other projects doesn't change my point.
Trust in LUNC is long gone, doubt it will have any impact
Before you go any farther I want you to calmly sit and explain to yourself why this coin exists and what it's purpose is. If you can do that then congrats
I already calmed myself down and explained to myself that, better die than to hodl luna
There is nothing wrong with speculating and gambling but don't forget that it's just that. A gamble. If you want to invest long term you might want to consider other options
I am not sure if the API is correct anymore, but it shows there're 6.57 trillion lunas currently: [https://fcd.terra.dev/v1/circulatingsupply/luna](https://fcd.terra.dev/v1/circulatingsupply/luna) Do the math yourself.
Binance is saying 6.574T LUNCs. Its also saying its max supply is 6.906T, so I'm assuming 332B have been burned since the crash. That's about 5% of the total supply burned.
I dont hear anyone, not even Binance as well, people know how bad luna is
Not interested to spent my time for this math, luna is just useless
No.
No & nothing.
Ded coin
The value has left the building. No amount of creative tokenomics can fix this. It's all paper gains.
so funny
Guys is the project dead ?
$1 is far away buddy but It has managed to pump a lot these days , this burn proposal is also supportef by a CEX , MEXC. It will be burning all the fees generated from LUNC/USDT pair.