Notoriety? Fortune? Otherworldly levels of power? Simple naivety? Or maybe a combination of one of them. These are the only reasons we can understand why investors are throwing huge amounts of money at LUNC (LUNC-USD) crypto. And that’s exactly what people do.
As of last check, LUNC’s crypto trading volume was over $500 million. It’s an incredible amount of money circulating around a failed project. And don’t worry, this Terraform Labs experiment was one of the most watched in the crypto world. And it crumbled in a burst of cataclysmic glory.
Example: just a few months ago, LUNA (Terraform changed the name after its fall from grace) was trading north of $80 a token. But then, within days, its value plummeted to a fraction of a penny. LUNA’s price chart resembles the face of El Capitan in Yosemite Valley.
LUNA fell very far…fast. And there was nothing in place to protect investors. Things were so bad that Terraform Labs CEO Do Kwon announced restoration plans to save the Terra ecosystem. He set up a hard fork. And initially, some were optimistic that the plan could work.
First, Terra was essentially disconnected from the old Terra (UST-USD) blockchain. Then the LUNA 2.0 token was launched. This would now be traded under the symbol LUNA (LUNA-USD). And the old LUNA token would be renamed under the symbol LUNC. Despite its objective failure, some still see an opportunity in this token. But we think these people are simply wrong.
LUNC Crypto Price Prediction
It doesn’t take much effort to find crypto clerics delivering sermons on the future value of crypto LUNC. And many of them are delusional. Even days after the LUNA crash, people on Twitter, Telegram, and Reddit were prophesying that LUNA would return to a dollar. For reference, this would equate to a gain of over 1 million percent based on current prices.
Now we understand. Turning a $100 investment into a million dollars would be awesome. And there is a precedent. We remember when Bitcoin miners would sell their tokens for a fraction of a penny. And we remember reading that Laszlo Hanyecz bought a few pizzas for 10,000 Bitcoins and didn’t know who got the best deal (at the time). But the LUNC crypto is not the same as Bitcoin in its early days.
It is not the subject of a crypto winter. It is not a cycle of boom, bust and boom again. The Terraform Labs experiment didn’t work. And the first wave of it, which the crypto LUNC represents, was all but abandoned by its founders. They focused on LUNA 2.0 (LUNA). And crypto LUNC is an afterthought at best.
So while LUNC crypto has jumped nearly 50% in the last day, it’s just not built to last. It trades in the bargain bin for a reason. It’s like a record company that got into a band and rushed their albums too much. There simply isn’t enough demand to recoup the costs. Demand may be high right now, but it’s not built to last. There’s a reason it’s still trading at a thousandth of a cent despite the recent spike in interest. This token peaked a long time ago. And it is unlikely to cross the $0.01 mark again.
What goes down, will surely go up… Isn’t it? If only it were that simple. Sometimes projects fail. And while that hurts investors, it’s part of the process. We don’t broadcast this like FUD to scare off potential investors. It is a warning.
Scrolling through the annals of social media, we have seen people asking for the LUNC crypto to reach $1, $6 and even regain its glory above the $100 mark. But that’s just not realistic. As we mentioned above, the precedent for outsized returns from crypto is extremely high. But the future of crypto LUNC is less so. Just because you’ve seen one cryptocurrency skyrocket doesn’t mean they all will.
And we’re not just talking about carpet pulls. Although there are also many of those to be wary of. It was (we think) a serious attempt to do something new with crypto. We had a stablecoin backed by the value of its own token. The Terra Luna experience was interesting, to say the least.
But LUNA proved to be workable. This experiment failed. While we feel awful for investors who lost their shirts, that’s the name of the game in this booming new market. Keep your head up. There is still money to be made. But not in crypto LUNC.
The basics of LUNC Crypto
For once and for all, we hope to warn investors against crypto LUNC. The technology behind it is dead. Its raison d’etre has been defeated. And its price too. While we can appreciate investors’ natural desires for outsized gains, there are better ways to go about it than that.
If, for some reason, investors are on the verge (for no reason at all) of pushing the value of the LUNC crypto to all-time highs over the next five years, we’ll pull a page from Werner Herzog’s book. In 1979 he ate his shoe when Errol Morris Actually finished his film about the pet cemetery business. And if the LUNC crypto reaches those previous highs, we will be happy to do the same in such a rarefied company.
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Editor’s note: The summary bullet points for this article were chosen by the Seeking Alpha editors.