LUNA Basic (LUNC) remains to be going robust regardless of shedding greater than 99.99% of its worth through the market crash. It now additionally boasts one of many strongest and most energetic crypto communities on social media, which have now taken their mixed energy in the direction of getting the coin listed on giant exchanges. This time round, the group has turned its consideration to Coinbase.
Calls To Checklist On Coinbase
The calls from the LUNC group to listing the digital asset on Coinbase have been intensifying within the final week. It goes together with the calls for one more buying and selling platform, Robinhood, to listing the token. If this method sounds acquainted, it’s as a result of this was the identical factor performed 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 trade to listing the token. As of the time of this writing, the petition already has a bit of beneath 3,000 signatures.
Requires Coinbase to listing LUNC have additionally dominated the digital asset’s social media mentions throughout this time. The cryptocurrency has beforehand gotten huge assist from the most important crypto trade on the 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 listing the digital asset is to assist its worth which has struggled because the crash. Such an inventory has been recognized to propel the costs of digital property upward because of the 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 trade, presumably in the direction of the “LUNC to $1” aim that’s echoed all through the group. Nevertheless, it’s inconceivable 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 whole provide. With the collapse of the Terra Basic community, trillions of latest tokens had been introduced into circulation. On the time of this writing, the whole provide of LUNC sits at 6.15 trillion. If the value had been to succeed in $1, this might imply that the market cap of LUNC would cross 6 trillion, fairly unrealistic on condition that the whole crypto market cap all-time excessive sits at $3 trillion.
For the $1 mark to be possible, the availability must be drastically lowered. 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 scale back the LUNC provide by at the least 70% discount that might make it potential 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 significant trade 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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