How can Luna Classic (LUNC) pump to $1, how is that even possible? This is a question many people wonder about our favorite coin. Today we are going to explore how this is a likely possibility if certain conditions are met, and we will also discuss what you can do to contribute to this happening today!
The first step and the most easily actionable step to making this a reality is getting access to your Terra Luna Classic keys, or in other words transferring your LUNC onto Terra Station so you own the asset. If you currently hold LUNC on an exchange the crypto doesn't belong to you, it belongs to the exchange and they are effectively lending you the crypto. Once you own the keys to your Terra Luna Classic you now have the opportunity to make a difference within the ecosystem itself. You can now stake with validators to earn yourself amazing rewards, you can buy NFT's to flip and make profits, or you can simply use different applications that are available to try and turn a profit as well. The easiest and most hands-off investment method however is staking your LUNC. The APR you earn is incredible and you can also contribute to the burn at no cost of your own if you choose the right validator. The question remains though, how will this contribute to LUNC $1?
When you stake your Terra Luna Classic it is locked up for a set period of 21 days before you can either withdraw or continue to redelegate. Naturally if we can stake more then 50% of the current LUNC supply and its taken out of the existing circulating supply the remaining supply will be much more scarce. This will allow Terra Luna Classic to trade at a higher price point, all the while rewarding all the stakers with amazing passive income. We are a long ways away from achieving a staking ratio of 50% our current staking ratio is sitting at 12.740%
We know its entirely possible to achieve upwards of a 60% staking ratio because currently LUNA has a staking ratio at this rate. So we should continue to push for more staking, there is no reason not to. It contributes to the burn, and it also contributes to positive price action for our holders. If you aren't staking and don't know how, watch the video below:
While staking will help Luna Classic pump it won't get it anywhere near $1 so what needs to happen for a $1 LUNC?
In order for us to burn enough Terra Luna Classic for it to pump to $1 what we need is for LUNC to re-peg to USTC or another stable coin. This will potentially burn 10's of billions of Luna Classic EVERY day! So naturally, we should focus on getting this implemented in a sustainable way as quickly as we can. This will not only allow us to burn through incredibly high amounts of LUNC but it will also allow most of our current applications on the blockchain to start operating as they are intended. One thing many people don't understand is after our stable coin de-pegged it actually completely destroyed most apps on Terra Luna Classic. Re-pegging is essential for utility and burns, but most importantly for LUNC to hit $1 and far beyond that.
If you enjoyed today's article please make sure to like it and also drop a comment down below! Let's make sure the entire crypto world sees the potential of Terra Luna Classic!