The Luna Classic Token Is Pumping

The speculative profit potential of cryptocurrencies can be enormous even in the midst of a bear market.

This is currently illustrated by the recent price action of Luna Classic. It’s up massively over the last couple of weeks with a current market cap of over $2 billion. 

The Luna Classic Token Is Pumping.

By now we all know what happened with the Terra Luna stablecoin project. It was a top crypto project that collapsed overnight, losing many people their entire life savings. 

So why in the world would anyone want to invest in this nightmare again? 
Apparently, a group of volunteer developers called the Terra Rebels revived the project on August 26th by creating a new validator team – effectively making Luna Classic the first fully community-owned Layer-1 blockchain in the crypto space.
When news broke of this new governance/validator protocol, LUNC rocketed up by 400%, all while Bitcoin was dropping to under $20k per coin.
LUNC rocketed up by 400%, all while Bitcoin was dropping to under $20k per coin.
 And it didn’t stop there. In fact, it continues trending upwards even with the crypto market floundering. Its daily trading volume has been higher than all the major cryptocurrencies on the market.
Investors are excited about the long-term growth potential of Luna Classic. 
On September 12th, a proposed 1.2% burn tax will be implemented on-chain. This tax will collect 1.2% of every trade and use the proceeds to purchase Luna Classic and deposit it into a burn wallet. 
The ultimate goal of the tax is to reduce the outstanding balance of LUNC from the current 6.5 trillion tokens to as low as 10 billion. If successful, I don’t have to tell you what that will mean for the price. 
Supporters of the project believe that LUNC could possibly pump to $1.00 in the future. 
I think that’s very unlikely… but stranger things have happened in crypto. The truth is that the entire space is a highly speculative casino, and true valuations are virtually impossible to determine. Thus, it’s worth having exposure to various small market-cap projects with the hope of scoring big one day.
I’ve done it before. And I’ll do it again.
In fact, I even recommended readers of Crypto Cycle to throw a small amount of money into LUNC months ago when it was trading for $0.00013. I recognized that name recognition alone would prevent the project from ever fully dying. 
In the May 25th issue of Crypto Cycle, I wrote: 

Should you spend some beer money on LUNA?

If you feel like gambing… sure. I have a small bag for myself as a long-term hold just for fun.

Terra Labs is going to implement a hard-fork of the blockchain, which will split all of the Luna tokens purchased after the initial price collapse into a separate token called Luna Classic. This will essentially be a dead branch of the blockchain.

Back in 2016, a hard-fork was also implemented on Ethereum giving birth to Ethereum Classic. This was in response to a security threat on the blockchain. And even with little to no utility, given the speculative nature of cryptocurrency investing, the price of ETC exploded during the last bull run in 2021. 

I personally made over 20x gains on my Ethereum Classic during that time.

Ethereum Classic graph.

Could something similar happen to LUNA Classic some day?

Stranger things have happened… especially in crypto.

If you bought some LUNC in May, then that beer money should buy you a nice scotch by now.
And if you want to learn how and where to purchase small crypto projects like Luna Classic, sign up for Crypto Cycle today where I show you how step-by-step. 

 Keep coming back,

Chris Curl

Chris Curl
Editor, Daily Profit Cycle