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LUNCUSDT

LUNA CLASSIC LUNC > CZ BINANCE PRICE MANIPULATION > BURNS MATH!Hello everyone. So this morning CZ from Binance came out in a tweet and said that he would burn all the transaction fees from LUNA spot and margin trading. Now lets look at this for a minute. So first CZ tweeted he would support the burns making everyone think that he was going to implement the 1.2% burn on all the transactional volume on Binance, the price rocketed up. Then he came out and said he would not support the off chain burns and only the on chain burns, then LUNA dumped. Then he came out in an AMA and said he wouldnt be doing the 1.2% burn on the trading volume one more time, because for some reason there was alot of confusion about it, then the price dumped a little more. Then he came out and said the same day he would implement a feature to opt in to the burn tax for any trader who wanted to and then the price pumped a little. Then as LUNA came all the way down to the .618 around .00018 and Binance tweeted again this morning at 5:30 AM EST saying he was going to implement a burn mechanism to burn all the trading fees from LUNA trading and the price went up more than 50 percent in an hour. Shorts got liquidated and now on the drop Longs will be liquidated too. So I did the math for you all so you can see how big of a deal or not a big deal this extra burn of the trading fees is Average volume of Binance for LUNA currently is about 1 Billion daily. The total trading volume across all exchanges is an average of 2 Billion daily for now. This wont always be like this. The hype will eventually die down and the trading volume will diminish dramatically, maybe to at most 1 Billion daily across all exchanges. Now for the math, Im going to even look ahead and assume that all exchanges trading LUNA will follow Binance and Im going to round up the trading fee percentage to .2% although Binance is only .12%, because some exchanges may charge more. 2,000,000,000 x .2% = $4,000,000 $4,000,000 / PRICE OF LUNA = TOKENS BURNED PRICE TOKENS BURNED DAILY BY ALL EXCHANGES .0003 = 13,400,000,000 .0004 = 10,000,000,000 .0005 = 8,000,000,000 .0006 = 6,700,000,000 .0007 = 5,700,000,000 .0008 = 5,000,000,000 .0009 = 4,450,000,000 Lets do this with one less zero .001 = 4,000,000,000 .002 = 2,000,000,000 .003 = 1,340,000,000 Lets do this with 2 less zeros .01 = 400,000,000 Now he said that the first set of burns is from 9/21 to 10/1 thats 10 days BINANCE SPECIFIC BURNING FOR THIS TIME PERIOD .12% FEE ON TRADES AVERAGE 1 BILLION DAILY VOLUME AVERAGE THAT'S 40 BILLION LUNA TOKENS BURNED IN 10 DAYS BY BINANCE SOUNDS LIKE ALOT HUH? ITS NOT! AS THE PRICE OF THE TOKEN GOES UP THE AMOUNT OF BURNS WILL BE MUCH LESS. ALSO THE VOLUME WILL NOT ALWAYS BE 2 BILLION DAILY ACROSS ALL EXCHANGES. THIS VOLUME WILL EVENTUALLY DROP TO MAYBE A BILLION TRADING VOLUME DAILY. AT THE CURRENT PRICE AND WITH JUST BINANCE BURNING THEIR TRADING FEES AND THE ON CHAIN BURN WE WILL BURN ABOUT 6 BILLION TOKENS DAILY. SO TO BURN 90% OF THE SUPPLY WHICH IS 5.4 TRILLION TOKENS AT THE CURRENT RATE OF 6 BILLION TOKENS BURNED DAILY (WHICH WILL DROP DRAMATICALLY ONCE PRICES INCREASE) IT WOULD TAKE 900 DAYS. NOW THAT IS ASSUMING THAT THE BURNS WOULD BURN 6 BILLION A DAY WHICH IS NOT THE CASE, AND THAT WOULD STILL LEAVE 600 BILLION TOKENS WHICH WOULD BE THE ABSOLUTE BEST CASE FOR $1, BUT VERY VERY DOUBTFUL. EVERY TIME THE PRICE DOUBLES THE BURN NUMBERS GET CUT IN HALF. SO AT .0006 LIKE I SHOW ABOVE LUNA WOULD ONLY BE BURNING 3 BILLION A DAY, AT .0012 LUNA WOULD BE BURNING 1.5 BILLION A DAY AND SO ON AND SO FORTH. SO HERE IS THE CONCLUSION. IF EVERY EXCHANGE IMPLEMENTS THE TRANSACTION FEE BURN, AND LUNA CONTINUES TO HAVE 2 BILLION DOLLAR TRADING VOLUME THEN IT WOULD STILL TAKE APPROXIMATELY 3000 DAYS TO BURN 5.4 TRILLION COINS. THAT'S ALMOST 10 YEARS AND REALISTICALLY IT WOULD TAKE MUCH LONGER, AS VOLUME DECREASED AND PRICE INCREASED. ALSO THATS ASSUMING THAT BINANCE WILL KEEP THIS GOING INDEFINITELY WHICH I DOUBT AS WELL. NO ONE WANTS TO THROW AWAY 4 MILLION A DAY IN FEES. HES DOING THIS FOR HIS OWN AGENDA. HES MADE MULTIPLE BILLIONS MORE OFF PUMPING AND GOING LONG AND DUMPING AND SHORTING WITH THIS COIN THAN HE EVER WOULD HAVE MADE SELLING HIS STASH AT THE TOP WHICH WAS WORTH 1.6 BILLION I BELIEVE. HES MAKING 10S OF BILLIONS OF DOLLARS MANIPULATING LUNA WITH HIS TWEETS, TAKING EVEN MORE FROM INVESTORS THAT ALREADY LOST A LOT ON THIS THING. LUCKILY I WAS NOT ONE OF THEM, BUT I FEEL FOR EVERYONE WHO HAS, AND I AM SORRY YOU HAD TO GO THROUGH THAT. DON'T GO THROUGH IT AGAIN THOUGH WITH THIS HYPE TRAIN, PUMP AND DUMP. THIS BURN IS STILL NOT ENOUGH IN THE GRAND SCHEME OF THINGS. ALSO UST IS STILL DE-PEGGED AND NO ONE IS BUILDING ON TOP OF LUNA AT THE MOMENT. THERE IS NO REAL USE CASE FOR THIS OTHER THAN A HYPED UP PUMP AND DUMP. I USED TO THINK LUNA WAS GOING PLACES BUT I REALLY THINK THAT IT WAS JUST A PUMP AND DUMP BY DO KWON IN THE BEGINNING AND NOW CZ OF BINANCE IS PUMPING AND DUMPING IT AS WELL. THOSE TWO SHOULD HAVE A JAIL CELL TOGETHER WITH ONE BED! MY STRATEGY IS TO TRADE THIS UP AND DOWN BECAUSE THERE IS A TON OF LIQUIDITY AND VOLATILITY. I DO NOT USE LEVERAGE WITH VOLATILE TOKENS LIKE THIS EVER! ITS A VERY RISKY STRATEGY SO DO SO WITH CAUTION BECAUSE WILD PRICE SWINGS ARE EXPECTED FOR A WHILE. So for the price action short term. I think the hype will die down again once people realize this burn is just a drop in the bucket. My targets are .00026, and then .000235 before another run up If LUNA can rally up to .00035 with strength then we may see a run to previous highs, perhaps for a double top, I do not think LUNA has started a new bull rally to new all time highs. I don't think this will happen though I'm leaning more towards the bearish case because essentially nothing has changed as far as how long it would take to burn the tokens. This is just a suckers rally and boy are there a lot of suckers out there. Jokers coming out of the woodwork again screaming $1 LUNA with no idea of how to do math. THIS IS NOT TRADING OR FINANCIAL ADVICE THIS IS JUST MY OPINIONS AND SPECULATIONS
KRAKEN:LUNAUSDShort
by Bitgolder
3
Terra LUNC | Last chance to sell before it crashes again! LUNC now offers an amazing opportunity to sell your coins before it crashes again, which is really great! Also, you can enter a short position on the futures market to profit from this upcoming move to the downside. This chart is definitely not bullish. I see a big bearish downtrend that is in progress. The price is clearly moving in the parallel descending channel on the 4h chart, so theoretically we can still go up a little bit. According to my Elliott Wave analysis, the first impulse wave has finished and we are in an ABC correction followed by another impulse to the downside. My target is 0.00012000 USDT, then maybe we can start a brand new uptrend to new all-time highs. It's possible, but I am not buying anything named LUNA, LUNA2 or LUNC. In my opinion, the volatility will go down and the price will go down slowly. Forget about LUNC, you are too late for the bull party. If you are a lover, buy it lower. For more analysis, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
65
TERROR LUNA CLASSIC In Freefall Down to .00013 Wicks to .000088LUNA classic has been in free-fall since reaching its high. It broken through all major support and the downtrend continues. There is a drive of hidden bullish divergence on the hourly so a bounce today and tomorrow up to .00026-.000275 is possible and likely before being rejected at resistance again and continuing its downward journey. There is no real support after .0002, so once .0002 breaks and we get into the .0001's then the panic selling will occur and we will drop fast down to the next major support around .000144. I don't think .000144 will hold for long before LUNA slams down to really strong support around .00011. A stray wick could push down to as far as .000095-.000089. This is not trading or financial advice this is just my opinions and speculations based on TA and FA of my own. MACD ON THE DAILY : STRAIGHT DOWN RSI ON THE DAILY : STRAIGHT DOWN
Short
by Bitgolder
22
Lunc will go the moon (2000%+)Everything we saw was a script, Binance has 40% lunc, and cz will support off-burn later. Everything is for hype. Who has more Lunc, and who has the motivation to increase the price of lunc. When the party will start ? Maybe tomorrow or later, when most people donot believe lunc. When the party will end ? When most cex support Lunc burn off-chain ( maybe 3 or 4 weeks later). Lunc price will touch $0.006+(2000%+). Hold is never easy, Good luck.
LLong
by haishinage
16
LUNC ON SUPPORT. WILL WE SEE A REVERSAL?Check out the trade plan for LUNC today based on the technical analysis. Hope this analysis is useful, make sure to hit the thumbs and also follow my tradingview profile for future updates. Thank you! LUNC on important support where we should keep an eye on this level to identify if the price is looking for a bullish reversal or a bearish breakout. I am expecting a decent pullback to happen in this area as we have seen some buying interest formed in previous price action. I have pinned some important levels where we can keep our take-profit limits on a bullish reversal in the short-term base. We have seen a nice correction so far with my previous analysis as mentioned with the 5 wave theory.
LLong
by traderchamp_
1
Terra Classic LUNC Bearish Sentiment Friday the S&P reached its 52 week low, $3636. There is a strong correlation between the S&P and the crypto world. Many stock investors diversified their portfolio into cryptos, especially in BTC Bitcoin and ETH Ethereum . With a bearish stock market in the worst month for stocks and cryptos, i expect most of the cryptocurrencies to trade lower this week. LUNC/USDT short Entry Range: $0.0002300 - 0.0002500 Take Profit 1: $0.0001700 Take Profit 2: $0.0001330 Take Profit 3: $0.0001120 Stop Loss: $0.0002820 previews short signal
Short
by BuySellMarketMaker
1
LUNC 4h diversion on RSI versus PriceLUNC drops more than 50% from the big parabolic move it made over the last few weeks. 1) When we use the Fib Retracement tool we can see that LUNC sits on the 0.618 golden ratio which is a perfect trace back from this parabolic swing. 2) When we look at the 4h LUNC-BUSD chart we can see that LUNC sits in a symmetrical triangle which most of the time breaks out to the top. 3) We also see on the 4h candles a diversion on the RSI versus Price. RSI goes up, price goes down which indicates that the price will go up. 4) Not visible on this chart but LUNC finds almost support on the 4h 200 moving average. Also a positive indication. Now that the 1.2% burn tax is in place we see some low burning values. A lot of people expected more of it and started to selling their LUNC. As long Binance did not published an announcement if they will support or not support the 1.2% tax burn on their spot and leverage trading I will hold my LUNC. Be aware, when the announcement is negative we could see a big dump. When the announcement is positive all other CEX will follow and we will see a big pump. Personally I will hold, but I have some stop losses in place in case of the negative outcome. !!! Don't forget to get profit in time or set alerts/stop losses. You can always buy it back when it is tracing back up. The chart will not go up in one straight line. Cheers and have fun. ° Be Patient – Don’t panic – Trade Emotionless. ° Never lose a winning trade. You can always get back in later.
L
by seoco
10