With the disruption of the $1 peg of UST, the stablecoin on the Terra Chain, the blockchain connection between LUNA and UST turned into a "DEATH SPIRAL" and the Terra network literally collapsed.
As a result of the collapse; small investors, as well as large capital companies and crypto exchanges, faced major losses. In addition, crypto exchanges lost prestige and the entire cryptocurrency world suffered major losses.
As a small investor, we suffered huge losses, especially from UST, and like everyone else, we tried to understand what was going on. We tried to follow the correct news flow, but we came across a huge news pollution.
Especially as Turkish investors, we have difficulty accessing accurate news about crypto. Although there are responsible influencer accounts that do their job very well, their numbers are not enough.
As a result, we thought, let's deliver the right news to investors and started to follow LUNC, LUNA and USTC. We gained the appreciation of investors and we have been sharing our news in the same line since the collapse. As can be understood from here, we know everything that happened after the collapse and we include all of it on our pages.
The question we receive the most from our followers as a page is whether LUNC will be 1 Dollar, which is also the title of our article. It is of course symbolic that our followers and we listen to the 1 Dollar target of LUNC and USTC. 1 Dollar has a symbolic meaning here. We know that many investors will be happy with 0.1 Dollar, 0.01 Dollar and even 1 TL. Since 1 Dollar is a symbolic target, questions come within this framework.
We wanted to address this question in a more expansive way in our article. We make so much news, follow it, and invest. So, is LUNC and USTC's $1 Target Realistic?
We have a clear answer to this question "YES"
At the end of the day, we cannot make a prediction on "Will LUNC and USTC Be at 1 Dollar?", but we can safely say "YES" when it comes to the realistic target of 1 Dollar.
Of course it is easy to say YES. When saying this, it is necessary to back it up strongly. We have been reporting news as Terra News Portal for 2 years and if you filter all our past news and do your own research on the reasons for the events, you will all see this.
#Binance There is a phrase that is often used in the stock market; "Do Your Own Research (DYOR)"
As a page, we convey the news to you and we think that we deliver the right news to you, and if you do your own research in addition to this, you can develop your own comment on the question of whether the LUNC coin's 1 Dollar Target is Realistic.
Now I want to share our research and our own comment with you. Why we say LUNC's $1 Target is Realistic.
First of all, the Terra network (now called Terra Classic) is much more advanced than many blockchains in its current state. (It continues to create a space that can be used for many applications in Web3, NFT, etc.)
When we say the Terra network has crashed, we are actually using the expression incorrectly. The Terra network has not crashed. The stability of UST has been disrupted and in return the chain has minted LUNA. The minted LUNAs were not enough to collect all of the UST from the market and since the UST $1 balance could not be established, the chain was shut down. (The Terra Classic chain is currently being controlled MANUALLY.)
The use of the Terra Classic chain has increased since the collapse. The fact that LUNC and USTC, which emerged after the fork, were known by everyone allowed the Terra Classic network to be used by more investors. Despite this, there were no errors in the Terra Classic network and the chain continues to work literally "cracked". This shows us that it is still valuable.
The LUNA collapse and what happened afterwards left question marks in our minds. While we were waiting for LUNA and UST to be deleted from the market; Binance exchange listed LUNC, USTC and Terra's new LUNA on Binance.
Later, the Community began to look for alternatives to reduce the supply of LUNC, and a burn tax was implemented on the Terra Classic chain. Binance also supported LUNC, and Binance exchange began burning LUNC. Binance exchange's burns exceeded 61 billion units.
Terra Company currently has 3 popular coins; LUNC, USTC and LUNA. Another thing that made us think was that Terra Company treated LUNC and USTC as if they didn't exist. Considering the popularity and recognition of LUNC and USTC, we thought that Terra Company's ignoring them was conscious and planned. At this point, TFL is out of the picture. They left LUNA in the cold. Now we clearly understand why they ignored LUNC and USTC. They were going to leave anyway. They did their last duty and they are leaving.
The LUNC supply has reached trillions and needs to be reduced in order for LUNC to rise again and for the Terra Classic chain to be automatically activated. This is why the burn tax is implemented and the community is currently looking for alternatives to reduce the #LUNC supply.
We can extend the titles above, but I want to come to my final sentences without going too far and boring. As investors, we get very caught up in the price movements of a coin. Believe me, this situation is in the background for market makers (companies and exchanges). They focus on the chain and compete to provide the best service. As a result, this effort also allows them to make money.
As investors, we think with the "TRADE" mentality. As we always say, LUNC and USTC are not coins that we can trade, we need to approach LUNC and USTC with the "HODL" mentality.
Patience is a must in LUNC and USTC; this patient wait may take years, but at the end of these years, the goals we call realistic may come true. That's why we suggest "invest with money you don't need" and "staking". Finally, as Binance says, we say "Do Your Own Research (DYOR)".
Thank you for reading our article. I am curious about your opinion. Share your findings in the comments section so that everyone can benefit.
