Bitcoin Forum

The price of LUNC has rallied by 44% in the past 24 hours and this got users wondering why?

The rally comes after crypto exchange Binance announced that it would launch USTC futures contracts, offering 50x leverage.

The futures contract was scheduled to launch at 12:30 UTC today.

This is similar to the rally we have seen for FTX, USTC has pumped massively in last two days roughly around 5x, now LUNC is on rally but it's nothing short of gambling if we enter now as these have been bankrupt once and there is no guarantee that it won't happen against and Seema like whales had already accumulated huge amount of these tokens and now in mood to play around with market. We can earn good profit but due to the higher risks involved.

I would suggest people to away away if they cannot be on their toes and play with stop loss or OCO post investing.

And why not? It's a cryptocurrency like any other. And it doesn't matter that at one time this coin was bankrupt. It still remains on the market and continues to be traded. And if the coin is traded, it means that there is demand and there is supply. And therefore there can be upward and downward movements.

So what if it got rallied? It's just being played by the manipulators and trying to attract dumb money. Those all of you that wants to do something with your money, don't get FOMOed with these coins.
I know that Binance is still supporting this coin and remains listed on their exchange. But that doesn't make sense when this has been part of the Do Kwon issue. There can still be trading volume and such on this coin but if you just want to be safe with your money, don't get on this rally for this coin.

I don't understand how this coin can be traded if there are such problems with the CEO, I also see that the trading volumes are huge... somehow it doesn't inspire confidence.  Maybe some positive news influenced this growth?  For example, I haven't heard it

Lolz. This is the bouncing back of the former Luna Terra. And this bounced back coin which was launched this year has rallied to 44% is really wondering me as well. Because coins that have been launched for years are still struggling to hit a dollar. I was thinking that this Classic Terra has been crashed again because I have not been hearing from it for a while. Even these days that I am visiting here very well, I have not seen Terra threads and this is the first one with this good news.

I am suspecting that after the announcement of Binance a whale visited the coins and invested in it and that made the rallied to that percentage.

Seems like binance really eager to keep anything related to terra luna alive I wonder why?
even though the coin itself already goes bankrupt binance still releasing future contract relating to this coin its just crazy I think.
after all we all know that this USTC has caused so many people to lose their money and what Im talking about are those people that uses USTC thinking it will keep its value from inflation turns out their money just vanish into thin air, it seemed that binance really eager to make that event repeated otherwise there's no proper explanation as to why they are so hell bent on keeping this coin in their platform.

It definitely could. But it's a high-risk asset, I wouldn't be too sure about that. It's pure gambling, if you want to invest just throw some money you don't need in it.

It's because of the investors that has still this token. When the fiasco has happened, IIRC, there have been airdrops for a new token and this has remained for those that still held it.
So, for those that have lost a lot for this coin never give up and are still waiting for them to recover. But whether they're fortunate enough or not, it's no use to get interested on a coin that has already made a big issue and had dropped a lot of its value.

It's because of the hype surrounding the futures contract. Don't expect LUNC to be taken seriously, especially when investors lost all of their money with it. At this point, I'd say Terra Classic is a gamble. Just like "meme coins". LUNC's only hope is the community.

The community needs to burn the token's supply, and change the name of the project (rebrand) to help restore investors' confidence. Only then, we will see LUNC going all the way to the moon. Even Terra 2.0 has been struggling to become a widespread success. I'd suggest you consider other options that put development/innovation above all else. Who knows how long will this cryptocurrency last? :D

This is because of the announcement of a possible airdrop program for people who will burn their USTC. This is only for people who were holding USTC before the crash, I think. There can be other requirements but these are the only ones I am aware of. USTC is a failed project and it doesn't have any value except for a historical one. Because there are already new UST coins issued and airdropped by the team this old classic USTC doesn't have many demands. The price rally we are seeing can be done by the team.

only try it if you likes to speculate as of now the price has been dropping, that to be expected because these coins will never get full trust from anyone, but just a tool for speculation.
if you truly eager to invest in it why dont just use binance future contract then you won't think about finding liquidity or something like that, after all the chart of terra classic compared with its ustc gonna be more or less the same. but I guess after people sold at the news of future contract in binance then its already end game for USTC and luna i doubt there will be anything that could helps it pump in the future other than binance making some move again, because the future for these two coins would be ugly, once they lost trading volume, delisting is the only path for these two coins.

No one can resist free money, right? Any coin with an announced airdrop would surely bring the attention of whales and airdrop hunters alike. I'm pretty sure the LUNC hype will be over soon. With Terra/LUNA's shady history, I'd stay as much away from it as possible. Not even Terra 2.0 is worth the investment. There are far better options on the market which put users' needs first above all else.

By investing into projects with real utility, you can help secure your financial future. Coins like LUNC, LUNA, and even DOGE are driven by speculation/hype and could disappear in an instant. I wouldn't be surprised if LUNC goes to $0 in the future as people move on to the next big thing in crypto. The market often behaves in strange and bizarre ways, so expect the unexpected. Just my thoughts ;D

It's risky but not as risky as it was when the project was having problems. Now, it's cleaner than before, and the community is always optimistic for LUNA Classic to make a comeback in the future, they have got the burning thing going on and many other things and people are still trading the coin pretty much every day, I often see it has more than $30M in trading volume which isn't a small amount for a coin that has had a very dark past in the market.

When we talk about profits and risks associated, the coin is highly volatile which creates great windows for profits sometimes, but at the same time, it drops very quickly again as well which means that if someone FOMOs in search of profits, they might end up losing value in case it doesn't go back up to the place where they bought.

Probably just a hype or maybe someone that is trying to pump it so he can finally sell at profit.
It’s a dead exchange and token, i’m still wondering why it is still in the market maybe Binance still hold millions of it and can’t afford to lose it. It will be a big miracle if LUNC will have its peak back, many are still hoping for this but personally, I’m also out on this despite of the hype.

Can you name anyone actually working on the Terra Classic ecosystem?
Who's writing the code and implementing the proposals?
How are they funded? How are they organized?

The answers to all these questions are very fuzzy.
It seems like there's a lot of speculation but very little actual information on these coins.
If you were lucky enough not to hold them so far, I would advise against investing anything. They're only good for very short term trading for their volatility. Nothing more imho.

It wasn't because of the USTC contract announcements that made USTC to rally up, it was from a news about  Do Kwon’s Extradition Approved by Montenegro Court (https://www.coindesk.com/policy/2023/11/24/montenegro-court-approves-extradition-of-do-kwon/amp/). Apparently, Do kwon the confounder of Tera Luna and USTC stable coin has been hiding and found in Podgorica's airport, he was arrested and the court rule for him to extradited to US where will go and pay for his crime and meet his fellow crime members like Sam Bankman. So, speculators saw the news as bullish recovery for investors and pumped the dead coins and Binance upon see the progress and volume, they thought it's a good idea to list the futures for traders to gamble.

If not for greed and too much looking for ways to make money, why will any sane person will want to buy a stablecoin that has lost billions of investment, where will that recovery comes from because the damage Luna did was way more than FTX but it's just that FTX was like stealing because they are exchange that used users fund for personal gains while Luna was a complete protocol manipulation that kills dreams of many but still have to pay for his crimes.

I guess thats the thing with the former top 10 project, even if its falling down, the team gone, and the company behind it went into bankruptcy it will still be having that massive trading volume.
some people are taking advantage with the quite high volume, and trying to make it as a speculation tool considering when coin is failing like LUNA then it will become shitcoin immediately.

its quite different if the coin thats falling is coin from the sub 100 ranks it will eventually getting delisted and would be ignored after few weeks, the volume will also plummet.
regardless though, I think its always better to never invest into these such coin because its kinda undeniably that they will be having turn for the worst, after all they have lost their fundamentals.

During more than two years since the story of LUNA, we witnessed attempts and promises for all currencies that had a similar name that the currency would return again and that the price would rise, but what happened was always a temporary pumping, and after a few months the project died. The reason for the collapse of LUNA was a problem with the algorithm that cost them to burn 40,000 Bitcoins without anything. In contrast, if they obtained 40,000 bitcoins today, nothing would change.

However, this must be under special supervision if you enter to invest, be prepared to lose if the same incident occurs as before,
I personally would rather avoid than lose

Investors simply don't want a coin with a shady history in their portfolios. Many lost large amounts of money after the UST implosion. It's hard to build back confidence/trust after such a disaster. A re-branding of the cryptocurrency project and a burning mechanism would've been a great way to make LUNA (now LUNC) rise from the ground up.

I'm afraid Terra Classic will remain a speculative investment for as long as it lives. It will become another "meme" coin like DOGE and SHIBA. And don't let me get started on Terra 2.0. With plenty of options to choose from, why insist investing on LUNC? You could lose big time once the "pumping" ends. I'd be surprised it this coin is still alive within the next 5 years. Just my thoughts ;D

Speculators are the only reason this coin is still alive, just took a look at it as lately there seems to be some threads open about those coins and the drop experimented by Terra Luna is still as bad as it was back then.

Now some speculators seem to have been able to make a lot of money when considering the all time low of this coin, but anyone thinking about somehow Terra Luna regaining its former glory is simply wasting their time as there is no way this will ever happen.

They are just trapping people. I am looking that Binance has launched 50x leverage for USTC/USDT Pair.
They attempting people to make high leverage but they have a big plan and there will a big amount will be liquidate. And exchanges just want that.

So these trades are too much risky and I will recommend that don't trade in these kind of coins. They have made a fake pump in these coins or even they can make more pump to set a believe in people that these coins will pump after they will dump significantly. So be careful while trading in these coins.

LUNC which is formerly known as TERRA LUNA will not win the people's trust anymore because a lot of billions were lost in that shitcoin. But few people might still like to risk their money in it. and I don't think all those people who lost their money in the past will come and invest again. Though I have not been in the cryptocurrency world at that time, but when I came here in the forum I saw the story and it was heart shocking. Well i cant say anything for now, and wait and see.

You're totally right, I don't think it's possible to gain people's trust after that. And even newcomers can easily do some research and see what happened.