The issue with $LUNC centers around a large entity that acquired 2.3 trillion coins at very low prices after the crash. Instead of suspending support for the token or promoting a burn mechanism, the entity sold these coins to customers. This has led to the creation of "eternal holders," and the situation has had several negative effects:
Manipulated investor sentiment: By selling these coins, the entity fostered false hope and optimism about a potential recovery.
Market distortion: The influx of cheap coins into the market disrupted natural market correction mechanisms, preventing from recovering or stabilizing through organic demand.
Perpetual liquidity drain: With so many coins now in circulation and being held, there is a continuous withdrawal of liquidity from the market, undermining the long-term sustainability of the token.
This situation has raised concerns about the manipulation of market dynamics and the long-term viability of $LUNC.
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