TERRA LUNA & UST READY to PUMP!?! $LUNC to DROP ANOTHER 0!!
I saw it in that four cent region again. This did pop to over 10 cents. We were on here telling you, like. I dont know why this is popping theres, no real good reason: theres no peg in place theres, no arbitrage, theres, no mint and burn happening. But again, this one continues to fluctuate quite a bit. The only thing that really makes sense is you have a large concentration of top holders. You know top 10 holders hold 69 of this cryptocurrency. Top 100 holders hold 90. So, like we said when you do get a token, like that, its very probable that you will see these large pumps in the price, however, it could drop just as fast. However, we were at point: zero, zero, six and now to be sitting at five cents. Although we have neglected what i did think was a bull flag forming on the ust chart with your bull flag right here. The pole going up here this area of accumulation, but we did drop lower than that flag, so weve neglected this weve negated this pattern here. I think the next area of support, if youre, just looking at the chart again. This is a very immature chart very new, because ustc is new, but we have seen some support down in this region here of about four cents. You see touch points here and here not so much, but if i was looking for a likely place for this to possibly rebound again, this is moving pretty much on its own.
As weve said. Look at that four cent range tara, luna classic. On the other hand, holding very strong in this range right here again there is a lot of good news happening and i want to get to what is actually happening with the terror rebels and with this blockchain, so lets jump over here. You know weve been talking about this. This is going up very, very quickly and its good ustc increasing luna classic increasing to the community pool. This is part of the proposal that you guys put into place. So this is good news that this is happening and again we need these funds to keep these these developers that we have theyre not working for free. They can go out and earn a very large salary to keep them working on the terra, luna ecosystem. You need to be able to pay them, and that is good that we have this community fund. If we look over here, the burn is going up now. This has nothing to do with the 1.2 percent. I shouldnt say nothing coin in the first centralized exchange is sending 1.2 burn to this pool, however, its its not so much right now, but this is going up pretty pretty nicely come over here check this out, terrarity.io real time action of all the burn, and you Can see people are doing this, we have coin in doing this, hopefully well get some more centralized exchanges doing this as well.
If you come over here to the governance, tab, theres not a whole lot going on. However, youll see this proposal. Four one: two: five tax, slash burn one point: two percent of all transactions version: two now hard to imagine that were already two of version: two, we havent even implemented version one, but it says here this proposal is to clarify the three five six eight, which cz On twitter pointed out was a little bit confusing for exchanges. Now this is basically what the first one said. I dont know that we actually need this proposal and thats. Why you see very little voting going on on this proposal. This will probably not pass. Look. The exchanges just have to read the proposal if they cant understand the proposal, which all it says is in exchange to the trading fees. Take a 1.2 fee that is sent to the burn address. So look a trade happens, asset, a swapped for asset b, asset b. Being luna classic okay, when the trade happens, theres a trading fee collected by the exchange, a percentage hit them with an additional fee. These two fees go to different addresses. One goes to the exchange. One goes to the burn address. I dont know why anybody could have you know. I dont see where there could be a possible confusion on this and again if there is theres plenty of people that are willing to help. I dont know that we need this version two which probably will not pass lets move over here, because this is big news: terror, rebels.
They are moving forward. They have a lot of good people over there. They had another steering committee yesterday. They have a kickoff coming in a couple of weeks on, i believe, july 17th, but they just released their white paper official white paper for luna classic, and i like it because this white paper starts off addressing the the need for this white paper like what really Happened that made us pivot and move to this new luna classic blockchain gets very deep into how the burn is going to take place, how these new proposals are going to take place, how things are going to function moving forward. So i like what theyre doing theres a lot of transparency around what theyre doing and theyre trying to involve the community. So a lot of you are reaching out, like are the terror rebels good? Are they real from all all that i can see? This is a really good organization. I wish we would have had them from the beginning and ill just update you right here on the binance main wallet ending in 24 sqe up to 2.6 trillion lunar classic. The ust has pretty much stayed the same. They havent been accumulating so much of late over the past 72 hours. This has really calmed down, however, theres not so much more left to accumulate right. Then you own 10 of ustc, you own about 50 of the luna classic. Let us know what youre planning to do with all of it, because that is a lot of the supply and if we look over here more institutions having problems because of the luna fallout.
However, this one uprise loses 20 million shorting luna during the may crash. Now i dont feel bad for you at all. You were trying to make money during this terrible time when this cryptocurrency was falling uncontrollably. Not only were you trying to make money off that where people were losing millions, if not billions of dollars, you were using your customers funds to leverage and take this position absolutely uncool. I hope you guys do go out of business and i hope you never get into business again, because this is just absolutely disgusting. We have so many terrible stories but to be using your customers funds to take a highly leveraged short position. You lost 20 million dollars of your own customers, money absolutely go to hell and well. Look over here. Ive been talking about this for a while. It is official im not saying this with any pride or any satisfaction. I hope you did get your funds out. Voyager digital files for bankruptcy were going to see. This look. Whats happening with celsius is a bit of a good sign. They are seemingly starting to pay back some of their creditors thats. What you want to see, however, 3ac voyager babel, what we see with uprise? These are just some of the examples of you know ones that are going the opposite way and i think, were going to see more and more as we get. You know more of the dust settles but voyager.
I hope you got your money out in time because they will not be doing business anytime soon and lets just finish over here. Well, take a look at bitcoin usd as weve been looking just in this. You know very boring, very difficult to make money situation right. We had, you know the drop, huge drop accumulation, huge drop and now were seemingly doing the same thing over again. You know i dont know. Is this going to be another trapdoor that just breaks and we fall down into this 10 to 12 000 range thats kind of what ive been saying for a while. We do see a lot of confluence in this area. Theres, really nothing good happening right now for cryptocurrencies all the news is bad were hearing about. You know crackdown on mining regulations going to come into place. All of these things generally arent good news indicators, and when that happens, the price tends to reflect that so ive been saying its not going to be unusual to see this drop into this 12 000 range. I know thats uncomfortable for a lot of people if bitcoin now drops another 40 to 50 percent from here. What is that going to do to the rest of the all coin market? But if you look over here at this chart, this is the dxy. This is the only chart in all of chartland that is doing well, its just continuing to rip higher and higher, and what this means is the dollar as a fiat currency compared to other global fiat currency is performing very, very well.
So what that means is not just people in the united states all throughout the globe want to hold dollars, because it is a high performing asset. We havent seen the dollar, been this strong since back here november, 4th 2002. im guessing a lot of you watching this video werent even born at that time. So look. The dollar continues to rip higher when weve seen periods of strength for the dollar. This period. Right here this period were in right here. It hasnt been good signs for bitcoin and for cryptocurrencies couple that in with we will see another interest rate hike at the end of this month. We will see traditional companies, tech companies, all these companies tesla google. They start to report their second quarter earnings at this time. Now, if stocks are falling uncontrollably like crypto, do you think those earnings are going to be positive? I personally do not compared to what weve seen in the past. So, look, i think, theres going to be more drops in price theres, going to be more negative news, theres going to be more kicking us while were down but again, like i say, im continuing to dollar cost average. Take these prices because i dont think they will be here in the long term. I dont see bitcoin staying at 20 000 towards the end of the year. I think things will rebound. Let me know what you think in the comment section below.