Terra (LUNA), one of the altcoin projects that went bankrupt last year, has spawned a large group of investors waiting for a resurgence. Now, a popular community member is talking about a scenario where LUNC, the former LUNA, could go up to 10x.
Terra Classic (LUNC) investors remain committed to revival movement
After a recent comparison between LUNC and Shiba Inu, Cryptomane, a LUNC community phenomenon, evaluated the likelihood that both coins will achieve their goal of reducing their vast resources. With a total supply of 589 trillion, Shiba Inu owns more than 86.6 times LUNC’s tokens versus Terra Classic’s 6.8 trillion total supply. Both projects are running large-scale token burning efforts to support price movements.
Terra Classic’s DeFi platform, Terraport, plans to burn LUNC tokens using 27% of its treasury. Similarly, Shiba Inu’s layer-2 solution, Shibarium, aims to burn SHIB using 70% of each base transaction fee.
Cryptomane believes that LUNC will reduce its resources faster than SHIB, but the burn rate for both tokens will be subject to several factors, including the volume of transactions processed by Shibarium and the volume of Terraport.
Rexyz says altcoin price could do 10x
In response to the comparison, Terra community affiliate Rexyz said the Shiba Inu’s $6.12 billion market cap is much higher than the Terra Classic’s market cap, which is currently $711 million, which is 86 times the total supply of SHIB’s LUNC. states that it matches.
However, SHIB is currently trading at a price of $0.00001038, while the price of LUNC is $0.0001208. Rexyz suggests that if LUNC reaches SHIB’s market cap of $6 billion and the current staked amount of LUNC tokens doubles, it could see a price increase of 10 times the current value of LUNC.
However, since Rexyz’s predictions are a theoretical scenario, there could be various factors affecting the outcome. On the other hand, in a positive news from the SEC case, it is predicted that XRP can surpass all its competitors.
Is XRP a buyable altcoin ahead of the SEC lawsuit?
John Deaton, a famous lawyer and XRP advocate, answered this question on Twitter with a bold guess. He said that XRP has the most attractive risk/return ratio and if the court decides in favor of Ripple in Ripple’s legal fight with the SEC, the price of XRP could explode.
The lawsuit, which has been going on for years, has to do with whether XRP should be classified as a security. The SEC claimed that Ripple Labs, the company behind XRP, had raised over $1.3 billion from unregistered securities sales. If Ripple wins, this could provide the necessary clarity and open the door to XRP’s future growth.
Deaton’s tweet indicates that if the SEC wins, Ripple can appeal the decision, keeping the status quo. However, if Ripple wins, it will be made clear that XRP is not a security and the token could see a significant rise. cryptocoin.com In this article, we have included the latest developments that will determine the final outcome of the case.
SEC-Ripple lawsuit could end soon
According to related news, the legal dispute between Ripple and the SEC could end in a few days. This raises expectations about the case even more. Deaton has challenged the crypto community to view the case not just as a Ripple issue, but as an attack on the overall crypto industry, as he believes the controversial Hinman speech emails will be disclosed as “judicial documents.”
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