LUNA Traditional (LUNC) remains to be going sturdy regardless of dropping greater than 99.99% of its worth in the course of the market crash. It now additionally boasts one of many strongest and most lively crypto communities on social media, which have now taken their mixed energy in direction of getting the coin listed on giant exchanges. This time round, the group has turned its consideration to Coinbase.
Calls To Listing On Coinbase
The calls from the LUNC group to record the digital asset on Coinbase have been intensifying within the final week. It goes together with the calls for an additional buying and selling platform, Robinhood, to record the token. If this method sounds acquainted, it’s as a result of this was the identical factor completed by the Shiba Inu group to get the meme coin listed on giant exchanges.
Following in the identical footsteps of the SHIB group, LUNC group members have created a petition for the crypto change to record the token. As of the time of this writing, the petition already has a bit of below 3,000 signatures.
Requires Coinbase to record LUNC have additionally dominated the digital asset’s social media mentions throughout this time. The cryptocurrency has beforehand gotten large assist from the biggest crypto change on this planet, Binance, which has dedicated to burning all charges realized from LUNC buying and selling each Monday. Final week. Binance burned $1.8 million price of tokens.
LUNC worth retraces to $0.0003 | Supply: LUNCUSD on TradingView.com
The decision for Coinbase to record the digital asset is to assist its worth which has struggled for the reason that crash. Such an inventory has been identified to propel the costs of digital property upward as a result of quantity of demand it drives.
Will LUNC Attain $1?
As talked about above, the LUNC group is hoping to bolster the value of the digital asset with an inventory on the crypto change, presumably in direction of the “LUNC to $1” objective that’s echoed all through the group. Nonetheless, it’s unbelievable that the value of LUNC will attain this level.
The reply as to if the value of the digital asset will ever contact $1 lies in its complete provide. With the collapse of the Terra Traditional community, trillions of recent tokens had been introduced into circulation. On the time of this writing, the full provide of LUNC sits at 6.15 trillion. If the value had been to succeed in $1, this could imply that the market cap of LUNC would cross 6 trillion, fairly unrealistic on condition that the full crypto market cap all-time excessive sits at $3 trillion.
For the $1 mark to be possible, the availability must be drastically diminished. At present, along with the Binance burn, there’s a 1.2 tax burn imposed on all transactions, however even this is not going to be sufficient to cut back the LUNC provide by not less than 70% discount that may make it doable for the digital asset to succeed in $1.
Realistically, it’s extra possible that the digital asset will knock off one other zero if the burns proceed to ramp up and the cryptocurrency will get a serious change itemizing. However a $1 worth mark at a 6 trillion circulating provide is out of the query.
Featured picture from Finbold, chart from TradingView.com
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