Why crypto Twitter is pushing for 1000x gains
- Do Kwon addressed the Terra LUNA community and news of an arrest warrant for him and five other TerraLabs employees.
- Luna Classic has made double digit gains in the past two weeks, the community believes burn mechanism and new changes can push LUNC higher.
- Analysts have identified the biggest challenge that Luna Classic holders will face in the coming months.
Cryptoanalysts and advocates have evaluated Luna Classic’s recent price gains. Do Kwon’s response to the arrest warrant issued by a South Korean court and LUNC’s combustion mechanisms are two key events that propel the Luna Classic higher.
Also read: The US Department of Justice wants to do everything possible to fight cryptocrime
Biggest challenges facing Luna Classic
Will Chen, a crypto developer identified the biggest challenge facing Luna Classic in the coming months. Chen clarified the incentives for Luna Classic holders. Developers and holders of Luna Classic are curious about large wallet investors, entities that control the LUNC network.
Based on data from crypto intelligence tracker Santiment, LUNC, the token of the Terra Classic chain has received massive public attention as LUNC-related search terms topped social media search history.
The biggest challenge $LUNC will have to meet in the following months is to clarify incentives.
Who is $LUNC whales? Who controls the network?
I imagine it’s hard to attract projects to build on Terra Classic until the Rebels figure out who they’re working for.
— will chen (@stablechen) 16 September 2022
LUNC once again came into the spotlight after a recent price surge in response to the planned 1.2% tax burn. While the gains were quickly reversed with profit taking by LUNC holders, Do Kwon shed light on the situation where Korean authorities issued an arrest warrant.
Kwon tweeted to the crypto community, addressing concerns about his arrest and assured LUNC holders. Kwon said he is in the process of defending us in several jurisdictions. Kwon told community members that Terraform Labs employees hold themselves to an extremely high bar of integrity, and look forward to clarifying the truth in the coming months.
Chen’s concerns are that Terra Classic’s future looks bleak as it is challenging to attract projects to build on Terra Classic. Chen was quoted as saying that it might be
difficult to attract projects to build on Terra Classic until the rebels find out who they are working for.
Why crypto Twitter is rallying for 1000x in Luna Classic
LUNC holders push for 1000x winnings in Luna Classic price. LUNC gave a 262% gain in the last month, Luna Classic is therefore one of the altcoins with the highest 30-day return and a higher 90-day ROI compared to Bitcoin.
Amid speculation and the recent update from Terraform Labs and Do Kwon, holders have flooded Twitter with mentions of 1000x gains from LUNC.
