Terra #LUNA Classic New Burn Proposal Will Pass…..But What Does This Mean?
What’s up, you guys? It’s Matt here. So Terra Classic coin keeps dropping in price every single
day. We see this fall lower and lower. Is that a bad thing, in my opinion, I don’t think it’s a bad
thing. Right. I’m not saying or saying that you guys missed out on any opportunity here.
I’m not saying that you guys need to physically buy more or copy what I’m doing.
Terra Classic coin price prediction
Guys, I made money from Terra Classic coins. So I’m looking at this as an opportunity to potentially spend some
of that money to buy at some of these lows. Now, I’m not going to buy it this low. I plan on buying at a much lower low. If they decide to add one more zero, then that’s definitely a chance for me
to buy at some of those lower lows. So with all this being said, everything that we have here,
I wanted to talk about terrible in the Classic because the Burns are hopefully going to get bigger.
Now we have a proposal, 35, 68 out there that’s proposing that we burn 1.2% of all transactions
that go through. Now, this will be something that could go through as a tax that will automatically translate to all the exchanges and every single piece to where you are selling it. It’s basically off of the contract. It’s basically off of the system. And it says 1.2% will be burned off or will be held for a tax to burn off eventually.
I don’t know what that will be. Daily, weekly, whatever that ends up being,
I know that it will be a little bit bigger. Now we’re going to talk about tear Luna Classic in this
topic, talk about the price where it’s at, and my plan for the future.
Also, talk about this proposal as well and what my opinion is of it because we have some detail that we need to express. So make
sure you guys hit that like button and hit the subscribe button. Hit that notification Bell for
more videos like this one. Also, if you guys want to join the Lunatics Discord Group, the link
is down there in the description. And if you want to follow me on Twitter at Perry AK, you can follow me over here.
We just hit 6000 followers, and I’m really excited about it.
I can’t wait to hit ten. It’s like building my website
all over again. Hitting 5000 followers, hitting 6000, hitting 10,000, hitting 20. It’s just
exciting. So thank you guys for being a part of this and following me. I greatly appreciate it.
But let’s talk about the Terra Classic coin. Let’s show you what we’re working with.
Terra Classic coin crypto
Terra Classic coin is currently at 54. It is dropping significantly. This is down 24% today. You see the
market cap. That’s down 24%, down to 355, 55. $355,000,000 market cap, not a billion million.
Right? We’re sitting at a lower point than where Luna has always held. And you’re also seeing
TTerra Classic coin erra Luna 2.0 sitting at the same place, and we will have an update on that. Now, the volume
is up by 38%, but that doesn’t mean anything. That doesn’t mean that we’ll see something positive.
The good thing about that is if we did have by a transaction if we did have a burn by transaction,
That would actually be a good thing because volume contributes to the burn no matter if it buys and sells. Now, if we’re looking at the circulating supply, the circulating supply is at 6.5 trillion. The total supply is at 6.9 trillion.
So obviously, when we look at those two, we want to see a bigger burn. We want to see the fact that we’re going to burn off 7 trillion coins or technically 6.9 trillion coins or maybe 6.8 trillion coins and just be able to have billions out there, whether it’s 1 billion, 2 billion, or even having hundreds of millions that are out there. We’ll sit on that, too.
Now, the lower that this decreases, the more potential that this ends up having. Right. Not just the price potential and where you see it at in the current market cap, but also the price ceiling of where we believe it can get to with a lot of utility and utilisation and all this other stuff that we have in cryptocurrency.
where to buy Terra Classic coin crypto
So we’re really excited to see if something like this could pass. Now, speaking of things passing right, we’re talking about 35. 68, which is 35. 68 basically says that they want to burn off or tax 1.2% of all transactions there.
You can see here with all this information, you have 74% that are saying yes, I believe it’s higher right now, 78%. You could see it’s very close to Quorum. If we go back here, I believe Happy County Crypto has an update of where we are at. It looks like a total vote.
That was 2 hours ago, 111,000,034
total percent that’s voted. You’re seeing 72 points 85%. That’s yes, you’re 5% away from a Quorum, which is interesting because if we have this, Orion money is yet to vote or yet to cast their vote. You’re looking at 13.4% of the voting power. Now, if we go over to their Telegram, their Telegram has a vote for their Telegram. I joined their Telegram just to be able to see this. And right now the vote is around 95%. You’re looking at 1313 votes. 95% say yes. And you’ve seen 1828.
People have seen this. This freaking fly is bothering me. I swear I’m going to put it outside and let it fly away. But no, seriously, we’re at 95%. So obviously they’re doing a vote to see what’s going through.And it’s looking like we’re going to reach that level. We’re going to reach Quorum to where it could be pretty interesting. Now, what does that mean? Does that mean that it will go through automatically from what I understand? No, it does not mean it
will go through automatically from what I’ve seen, even if we do have this go through. I think there were some people that were saying something like that. If there’s like only text within the proposal that it’s something
that won’t go through. Terra Classic coin
Now, I’m not 100% sure as to the details behind all of that, but I’m sure they have to take into consideration that the community wants to see all of this. That wants to see some type of burn. Now, if they know the community wants to see it, I’m sure they would do something about it. Now, I’m not 100% sure if they’re going to do it, but they definitely can see that the majority of the community wants to see a burn.
Right. I Want to see the Terra Classic coin do something to get out of where it is right now. Right. If people are buying it and people are willing to pay that 1.2%, then why not? It’s kind of like
if you decide to burn your own money if you decide to sell or take 100 Terra Classic coin coins or a million
Terra Classic coinand burn that you decide to burn. Right? Well, what you can do with that,
you’re basically doing nothing with it. You’re not getting anything in return. You’re burning
the coins and that’s it. But if you also end up having a transaction tax, on the other hand, I didn’t know where I was going with that.
Terra Classic coin price prediction today
On the other hand, if you have a transaction tax of 1.2%, let’s say it’s 1%, just to make it simple.
And you have $100 or $100 here, you have one dollar going towards the burn versus $100 going
towards the burn. Well, you would know that $100 looks better. But also you may end up having
100 more people that decide to buy $100 worth of Luna over here and they’re guaranteed to automatically
have that burn over here. You have 100 other people that are going to buy it,
but most likely 99 of those people are not going to burn the coin. So really, you burned $100 worth, and here you
may have burned $100, or you might have burned a little bit over $100.
Do you know what I mean?
So the comparison between the two, you’re burning way more when you’re doing it by transaction
because it’s a forced burn. It’s something that will happen if you are buying. If you are selling,
it will happen no matter what. So it’s not a chance. And I love that. Right. So it’s interesting to me to see that this is here, that we are reaching these levels. But will it go through? Will we see this actually be implemented? Right. Will we see exchanges, take this up and decide it will happen no matter what. So it’s not a chance. And I love that. Right.
So it’s interesting to me to see that this is here, that we are reaching these levels. But will it go through? Will we see this actually be implemented? Right. Will we see exchanges, take this up and decide to obviously burn the 1.2% throughout. So again, it’s just very interesting. We’ll see how all this plays out. We’ll keep you updated.
Terra Classic coin news today
So again, it’s just very interesting. We’ll see how all this plays out. We’ll keep you updated.
Happy Caddy crypto will keep you updated. If you want to go and follow him, go ahead and follow
him. He’s growing significantly on Twitter. So if you guys want to follow him. He’s also growing
on YouTube and has all the details of the Burns has all the detail behind Luna classic.
I was going to say just Luna but anyways guys make sure that the like button hits that subscribe button
and that notification Bell for more videos like this one. Also, make sure you check out some of
the links down below. It does help out the channel. If you want my opinion on when I’m going to
decide to buy more term clastic because
I currently hold 20 million, I will buy more Terra Classic coin when it gains another zero. Because
when it gains another zero, I could basically buy I believe 1 million I may be doing the maths wrong.
1 million for $9 or so. So that’s what I’m hoping for when I could buy 1 million for $9 I will take that any day of the week.