People still echo: "If the price of $LUNC reaches $119... it will return!"
But the truth is completely different ๐
๐ก The currency that reached $119 was not LUNC, but the old $LUNA L.
At that time:
โข The supply was only about 350 million.
โข The UST peg was stable.
โข The ecosystem was strong.
โข Then UST collapsed โ trillions were minted โ supply inflated โ the chain collapsed.
Result:
๐น The old LUNA has become LUNC.
๐น The new chain has become LUNA 2.0.
๐ The current LUNC has not reached its all-time high of $119. Its all-time high is only around $0.00059.
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๐ Can LUNC reach one dollar or $119?
With trillions in supply โ One dollar = $5-6 trillion in market value (unrealistic).
Unless:
๐ฅ Burning more than 99%
๐ฅ Huge growth in the community
It could rise - but don't expect amazing levels.
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๐ก Key lesson:
Old LUNA โ LUNC
Reduced supply led to price increases.
The massive supply led to a price drop.
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