There is almost no investor who was not affected by the LUNA and #UST collapse. The meltdown of one of the most important cryptocurrencies such as LUNA within days, and especially the fact that a cryptocurrency such as UST, which was supposed to be fixed at $ 1, reached the point of zeroing destroyed the "SPOT" investors, which we see as beneficial for the crypto market.
As a result, the crash spread to the entire market and the crypto market lost approximately $200 billion in value.
Terra company attracted great attention with its exit logic, the technologies it developed and the stablecoin UST developed with the idea of "Decentralized Finance Needs a Decentralized Stablecoin" and #LUNA integrated with UST.
LUNA has become one of the top 5 cryptocurrencies with its unstoppable rise.
In continuation; There was a collapse, the cause of which is still unknown and court processes are ongoing.
Although the LUNA collapse seemed at first glance to be a major theft, the developments immediately following the collapse aroused suspicion among many investors. This was our origin story as a page.
Terra company announced that they received a major attack and that the situation they called the "DEATH SPIRAL" between UST and LUNA in the Terra chain was triggered by large capital formations, and although they did their best, they could not prevent the collapse. Although no one believes these statements, no tangible evidence has been found to show that the Terra company benefited from the collapse, even though 1 year has passed since the collapse.
In fact, the court where Do Kwon was brought to Montenegro decided to release him on bail. (Source: Cointelegraph)
After the crash, major crypto companies and exchanges openly offered jobs to Terra employees. However, Terra employees remained loyal to Do Kwon and Terra.
From this point CZ and Terra had a meeting; CZ announced on Twitter that the meeting was held. “It was a meeting with no phones,” he noted.
CZ shows an example of a responsible CEO; It is a very normal and correct behavior to hold this meeting to protect the rights of LUNA and UST investors investing in the stock exchange.
Of course, these are all details shown to investors. The point we gave most importance to was the detail "There wasn't even a phone during the meeting." After the meeting;
LUNA and UST, which are expected to be delist; bifurcated into LUNC and #USTC ,
Terra company released the new LUNA 2.0,
Terra company accepted that a new supply will not be printed in LUNC and USTC,
Terra company agreed to burn nearly 1 billion USTC and did so.
Binance agrees to list LUNC, LUNA and USTC,
Terra company announced that all remaining assets in the LUNA foundation will be distributed to small investors who were victims of UST. (This process is still ongoing.)
After these developments, Terra released the new LUNA and it was listed at #Binance . The same Terra company announced that it would not develop LUNC and USTC and left them aside. Although many offers were made to LUNC and USTC, Terra did not accept these offers.
A collective team called Terra Rebels was created, and it was made to look as if LUNC and USTC now belonged to this team.
Binance took all the words from Terra company specifically for LUNC and USTC. Terra company accepted these.
All these events aroused investors' suspicions. It increased the thought that LUNC and USTC may still be valuable, and that a so-called dead coin could make a comeback that could go down in crypto history. So can Terra Classic achieve this?❓
First of all, the Terra Classic chain has almost completed its formation. Even in this form, it continues to be ahead of many Blockchains. The Terra Classic network is almost unrivaled in terms of being very fast and very cheap in terms of crypto transfers.
These features stood out when LUNA, as it was known before the collapse, stood out and became one of the top 5 cryptocurrencies. Everyone who knew crypto also knew LUNA. After the collapse, LUNC emerged.
LUNC became such an advertisement that; Everyone, with or without interest in crypto, has heard of LUNC. With its supply increasing to 6.9 trillion, it has become available in almost every investor's wallet.
As we say, there is no good or bad advertisement; LUNC's bad reputation has increased its awareness a lot. A year has passed since the collapse, and this bad reputation has slowly begun to give way to the question of whether there will be a comeback.
The developments in Terra Classic continue to increase this feeling. If we list the developments that caused this feeling;
An exchange like Binance re-listing a crashed coin,
Binance exchange burns LUNC monthly
Terra company's deliberate ignoring of #LUNC and USTC
Possibility that LUNA 2.0 was extracted to be used as a source for the recovery of LUNC and USTC
Burning tax application in the Terra Classic chain
Continuation of developments in the Terra Classic chain
Terra Station continues to support LUNC and USTC
We can extend these developments further, but I think the issue is understood in general terms.
What we wrote in this article contains entirely our own comments in the light of the developments, and you can form your own opinion in the light of these developments. Your feedback is very important to us, we are waiting for your thoughts in the comments section.
We are investing in a possibility at LUNC. You do not need to invest a lot of money for this possibility. By keeping a certain amount of LUNC and USTC, you can sit back and wait to see what happens over a long period of time.
In many memecoins, investors invest with a “what if” mentality. LUNC price has almost reached the memecoin level.
The Terra Classic blockchain system does not deserve this. As a result of the lessons learned, if the LUNC supply is reduced to reasonable levels again and the errors with USTC are corrected, Terra Classic crypto can also make a historic comeback.
LUNA, which sank thousands of people; It can be reborn as LUNC and make millions of people rich.
A Possibility. Why Not ❓ 😉
