It is possible that this will create a scarcity of LUNA in the market and support the price of LUNA. We are seeing a slowdown in the Terra ecosystem as they don't have many DeFi related projects for everyone to participate in. I'm not denying Terra is a good platform, but I'd love to see more projects on Terra.
very good news for holders of these coins, now I can understand why such a large increase has occurred recently, I need to buy a few more of these coins, I think the growth will continue ;Deach coin is unique every time when the team does good things for the progress of the platform, I am a new user on the Terra (Luna) platform, there are many things that will happen in the future, if the circulating coins are burned, then it will be the same as BNB coins , the difference is that Luna embeds code on her network to burn and increase the price of LUNA
This will be great in future price will boom to 200$ easily guys I buy at price 25$ am 10x profit but still holding my coins I will hold them for long term this year it will hit up to 200$.Are you still buying Luna at a low price? I'm also new to this coin from a friend and was surprised by the price dropping. Hopefully the price can go up again
Are you still buying Luna at a low price? I'm also new to this coin from a friend and was surprised by the price dropping. Hopefully the price can go up againyou should be careful if you buy Luna, I doubt the price will increase in the future if the supply is not reduced.
they should do, at least restore investor confidence.
This news is from several months before UST and LUNA fell into the abyss. What Do Kwon wants to do now is a fork to solve the mess they themselves have created, but several voices (CZ) have already warned him, creating a fork is not going to solve anything, the only solution is to buy back and burn coins , something that Terra cannot do, since the foundation does not have funds to buy back. Do Kwon claims that the validators voted for the network fork, but there are people who doubt that the votes were real.
perhaps Luna 2.0, which becomes the new token of the new Terra blockchain, whose goal is to save the Terra Luna ecosystem after the collapse of the stablecoin.
If this proposal could be done again and the team didn't de-pegging the UST, the luna price probably wouldn't be like this. I have seen a lot of updates on agoran, but Do Kwon is always discussing the Fork and distribution of new LUNA coins, the Terra community and developers are very strong, this can be seen from several project developers who are willing to build their projects on Terra 2.0
I am also hoping that the Luna burn may help to improve value. Project team, the Terraform Labs early Saturday launched a new version of the Terra blockchain, “Terra 2.0,” with freshly minted LUNA tokens. Based on users past experience on the Luna crash, many people are still appear skeptical about Terra 2.0. I think Luna will find it's bearing from the Terra 2.0 upgrade.
I think it is a very brilliant move, burning token will always boost value over times, and I think team a good idea for the future of Luna token. I am very sure that this process will definitely bring back Luna token on track even at the top of the coinmarketcap ranking.