No, it is highly unlikely that the value of currency $LUNC (Luna Classic) will return to $119.
The main reasons are:
Massive increase in supply: After the collapse, the circulating supply of $LUNC dramatically increased from around 340 million tokens to over 5.8 trillion tokens currently, significantly reducing the value of each coin [1].
Required market cap: To reach $119 with the current supply, the currency would need a market cap of hundreds of trillions of dollars, which far exceeds the total market cap of all current cryptocurrencies (which is around $2-3 trillion) [1].
Burn mechanisms are insufficient: Although there are mechanisms to burn tokens, the current rate is nowhere near capable of reducing the supply to pre-collapse levels anytime soon [1].
In short, the fundamentals of the currency have changed drastically, making achieving this goal almost impossible based on current market conditions. $LUNC
#LUNC✅ #Binance #TerraLunaClassic #terraClassicLunc #kaderMan
