Is Terra Classic recovered?

[hack3rcon]

Hello,
Is Terra Classic recovered and worth the investment? Please see https://www.coindesk.com/markets/2022/09/08/crypto-terra-luna-classic-surges-as-traders-speculate-on-new-supply-burn-rule/.



Thank you.

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[ahmia39]

Terra Luna Classic is a falling crypto token that fell in May this year. At its peak, the coin was one of the most valuable cryptocurrencies in the world.
Even so, on Saturday (27/8/2022), the Luna Classic token was again corrected.
Based on Coinmarketcap data, the price of LUNC is IDR 1.86 with a 24-hour trading volume of around IDR 5.1 trillion.

[mindrust]

If you “invest” in this scam again, you deserve everything coming at you. These projects harmed crypto more than Mt.Gox probably. Thousands of people lost their life savings there. Why would you want to invest in it? Do you thini they will get it right this time? What about those who lost their money there? The CEO of this project should be in jail imo. I don’t buy that it was a decentralized project crap neither because it wasn’t.

[crunck]

Before you ask this, I recommend that you look at what it did with their old investors, if you want to be like them, then simply invest in Luna now. If you want to lose money, fall into a psychological crisis, you should invest in luna.

We have a lot of potential tokens why people continue to invest in projects that know for sure will scam. With a profit like this, I firmly believe that if you search hard, you will earn a lot in the market.

[cryptoaddictchie]

Hello,
Is Terra Classic recovered and worth the investment? Please see https://www.coindesk.com/markets/2022/09/08/crypto-terra-luna-classic-surges-as-traders-speculate-on-new-supply-burn-rule/.

Im really confuse with the sudden pump. I think there are key players that planning to step up and manipulate the price. Imagine a 200% plus gains or price action in just an overnight is not so healthy. Hopefully some retailers wouldnt go to hype as this could lead to a massive fall out.

[passwordnow]

Is Terra Classic recovered and worth the investment?

No and no.
Why it would have been recovered if it's already that down and unlikely to go back to its former because of its supply and the fiasco that it was involved before?
And being worth as an investment? It's only worth it for those that have bought it at the lowest and sold for profit but in holding it as an actual investment that has the plan to hold long, not worth it.

[zasad@]

Hello,
Is Terra Classic recovered and worth the investment? Please see https://www.coindesk.com/markets/2022/09/08/crypto-terra-luna-classic-surges-as-traders-speculate-on-new-supply-burn-rule/.



Thank you.

This is news speculation. Exchanges sell coins to hamsters and hamsters pay for the burning of the coin, because of the news about which the price of the coin rises. There are no fundamental signs for changing the ecosystem yet, and it will take a long time to burn billions of coins at such a pace.
Here are my notes
https://bitcointalk.org/index.php?topic=5413057.0

[GreatArkansas]

Nah, I will not trust again Terra. Billions of dollars were lost from them. It's very difficult to trust again, the trust is already broken.
Maybe these kinds of happenings is just some shows able to lure again some people to gain back their trust again. But I got a big instinct that this is another hype, pump and dump.

[Baofeng]

Hello,
Is Terra Classic recovered and worth the investment? Please see https://www.coindesk.com/markets/2022/09/08/crypto-terra-luna-classic-surges-as-traders-speculate-on-new-supply-burn-rule/.

Im really confuse with the sudden pump. I think there are key players that planning to step up and manipulate the price. Imagine a 200% plus gains or price action in just an overnight is not so healthy. Hopefully some retailers wouldnt go to hype as this could lead to a massive fall out.

Or those who have jump is those people who have lost their money and at least if they would have to sell at the price right now, they could have recovered something.

And we all know that this kind of meteoritic rise is not going to be sustainable, so this could lead to another massive fall out, which will hurt another set of investors. So the best option is not to jump on the hype.

[makishart]

Recovered from what? that news was only telling your about some people who have been speculating about the new burn mechanism for luna. that's only people who bought at the rumour and they will be selling for the news.
If the new burn mechanism will not make them feel satisfied with it and then you will get nothing from there. How can you think if it's recovering? did you see it's worth $100?
I guess if you are aware about this and you will not falled in this pump and dump coin anymore.

[Johnyz]

Based on it's price you can say that it's getting better but if you do ask people who are victim of this project, most probably they will not agree on this. There's still a trust issue with this project, but of course we are not just looking on that because traders are looking for the price trend and on it's current chart though it's already overbought and a healthy correction is happening right now, you can just say that LUNC is trying to get back on track. Decide on your own, know if its worth it or not as long as you make profit, that can work.

[fuguebtc]

The sign to recover is of course visible, the marketcap has been more than $ 3 billion and yesterday the daily transaction volume reached more than $ 3 billion or an increase of more than 100%. But we are still waiting for the next big surprise because I hope that Luna's price can reach at least $ 1 or lost 3 more zero.

What's the big surprise here? you still believe it can hit $1 in the future. Have you looked at the total supply of Lunc right now, or are you hugging it and daydreaming? It would be surprising if the price could continue to rise above this price and then hold above that price for some time to come. But it wouldn't be too surprising if dumping happens and we should soon see a luna3.0 version instead of the current Lunc version.

[traderethereum]

The sign to recover is of course visible, the marketcap has been more than $ 3 billion and yesterday the daily transaction volume reached more than $ 3 billion or an increase of more than 100%. But we are still waiting for the next big surprise because I hope that Luna's price can reach at least $ 1 or lost 3 more zero.

I am not sure if Luna Classic can recover so high because the price is below $1.
If you still hope Luna Classic has that chance and you can wait until that time, you can do that but I do not know how long that will happen because Luna disappointed many investors.
It is up to every people who still have Luna Classic because they will have their own plan.
Maybe it will rise again but maybe it won't so you choose what you think is right.

[Ultegra134]

While both Luna and Luna Classic are showing signs of improvement (in terms of value), I don't think it's worth the risk. Billions went down the drain a few months ago, but still, people are ready to blow their money on something that has already failed (I'm not talking necessarily about the OP). I only have a few thousand LUNC I bought just for the sake of buying for a dollar or two, honestly, I believe that this pump is purely speculative and the risk of it suddenly dumping high.

If you're fine with that, go ahead, but I wouldn't take such a risk. I find the developer extremely malicious, failing to inform his investors in time and only posting on Twitter in hopes of keeping the hype going

[Beparanf]

Terra classic is a dead project that only run by few developers that benefiting on dumb investors money. Most of the developers already migrate on the new Luna to start building again. The recent pump is just a result of impulse trading and surely it will dump quickly once crypto market faced major sell off again.

I'm surprised that there are many investors that willing to risk buying this shit token despite it was being dump hard before. Whales is just playing the retail investors money.
 

[Devifajarina]

At its peak, the coin was one of the most valuable cryptocurrencies in the world.

Are you not mistaken, all I know about the most valuable crypto is bitcoin, I doubt your statement about this, maybe you need to re-examine which crypto is the most valuable.
In addition to bitcoin there are many other coins that are one of the best, Luna can't be classified as the best crypto level in my opinion. because they are not able to survive and are more influenced by the hype.

[adzino]

Hello,
Is Terra Classic recovered and worth the investment? Please see https://www.coindesk.com/markets/2022/09/08/crypto-terra-luna-classic-surges-as-traders-speculate-on-new-supply-burn-rule/.



Thank you.

This is a coin that can never "recover". Literally has no more use case. Has no utility. As far as I know, all project developers moved on to luna 2.0 or just abandoned their projects. The recent "pump" is because of the introduction of staking and the burning mechanism proposal. People are hoping that the burning mechanism will reduce the supply and bring back to the price to where it was before. Hence people are joining the hype train and FOMOing. Look at the market, it is already crashing. Down like 15%+.

[Jackl87]

Hello,
Is Terra Classic recovered and worth the investment? Please see https://www.coindesk.com/markets/2022/09/08/crypto-terra-luna-classic-surges-as-traders-speculate-on-new-supply-burn-rule/.

I don't think that Terra Luna Classic will continue to rise in price i mean in the end it is an abandoned project. I also don't really know what has caused the recent pump of Terra classic but it really had some incredibly high volume on the exchanges. One reason for that high volume is that most trading bots that are offered by Kucoin and Binance were running on a Terra Classic/stablecoin pair because the votality was high and the volume was also incredibly high which is always good for bots.
Now the new Terra Luna started to pump yesterday and i heavily doubt that both Terra versions will pump at the same time. I think Terra Classic will go down again in the next days and weeks.

[virasisog]

Don't fall for their trap so you wouldn't be like those investors who have lost almost everything they had because of the false hopes caused by Terra Luna. They have a bad reputation already and despite their pump, I don't think they still worth our trust. The same thing could possibly happen again so you better be wiser and instead of risking in a coin that has a bad reputation, better choose highly reputable coins for your assurance.

[cryptoaddictchie]

Or those who have jump is those people who have lost their money and at least if they would have to sell at the price right now, they could have recovered something.

Probably or maybe. Its really something staying above $6 for two days. It seems the whales are really trying ti make it a long time interval before releasing their bags. I feel that it could do another leg up to $10 and from that where the massacre would happened right away.

Curious too why exchange are posting or taunting community with such questions of how far will lunc/luna pump go. Rather it seems they are shilling in a very subtle way like Kucoin tweets.