LUNA Basic (LUNC) continues to be going robust regardless of dropping greater than 99.99% of its worth in the course of the market crash. It now additionally boasts one of many strongest and most lively crypto communities on social media, which have now taken their mixed energy in the direction of getting the coin listed on massive exchanges. This time round, the neighborhood has turned its consideration to Coinbase.
Calls To Listing On Coinbase
The calls from the LUNC neighborhood to checklist 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 checklist the token. If this strategy sounds acquainted, it’s as a result of this was the identical factor executed by the Shiba Inu neighborhood to get the meme coin listed on massive exchanges.
Following in the identical footsteps of the SHIB neighborhood, LUNC neighborhood members have created a petition for the crypto alternate to checklist the token. As of the time of this writing, the petition already has just a little beneath 3,000 signatures.
Requires Coinbase to checklist LUNC have additionally dominated the digital asset’s social media mentions throughout this time. The cryptocurrency has beforehand gotten huge help from the most important crypto alternate on the earth, Binance, which has dedicated to burning all charges realized from LUNC buying and selling each Monday. Final week. Binance burned $1.8 million value of tokens.
LUNC value retraces to $0.0003 | Supply: LUNCUSD on TradingView.com
The decision for Coinbase to checklist the digital asset is to assist its worth which has struggled for the reason that crash. Such a list has been recognized to propel the costs of digital belongings upward as a result of quantity of demand it drives.
Will LUNC Attain $1?
As talked about above, the LUNC neighborhood is hoping to bolster the worth of the digital asset with a list on the crypto alternate, presumably in the direction of the “LUNC to $1” objective that’s echoed all through the neighborhood. Nevertheless, it’s inconceivable that the worth of LUNC will attain this level.
The reply as to whether the worth 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 overall provide of LUNC sits at 6.15 trillion. If the worth had been to achieve $1, this is able to imply that the market cap of LUNC would cross 6 trillion, fairly unrealistic on condition that the overall crypto market cap all-time excessive sits at $3 trillion.
For the $1 mark to be possible, the provision must be drastically decreased. 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 cut back the LUNC provide by at the least 70% discount that may make it doable for the digital asset to achieve $1.
Realistically, it’s extra probably that the digital asset will knock off one other zero if the burns proceed to ramp up and the cryptocurrency will get a serious alternate itemizing. However a $1 value mark at a 6 trillion circulating provide is out of the query.
Featured picture from Finbold, chart from TradingView.com
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