will Terra Classic LUNC hit 1$?

how's it going everyone it's sam today i  want to talk to you about tara classic  l-u-n-c now i want to be clear this is  probably my only video on and luna  terra classic uh lunc that i will do but  there are so many people making content  on it if you want to see more content go  follow connor kenny or crypto connor  there are a ton of people posting videos  about this and there are a couple  reasons for that which we'll talk about  in this video but just know that i am uh  pretty impartial i have some lunc tokens  because i have luna but the fact is i'm  not trying to  i'm not trying to spread fear  uncertainty i'm not trying to spread  hopium i just want to give you some of  the facts and how i see it as someone  that hasn't really paid too much  attention to lunc until recently again i  was really interested in the luna  ecosystem before but this is pretty  impartial i didn't just buy a ton of  luna and i'm trying to pump my bag like  some people out there so  let's talk about it well  we obviously know what happened with  luna where it fell down from 116 dollars  it was pretty much on top of the world  it was  growing so quickly it was like an  excellent and then all of a sudden over  just a few days it fell down to  basically nothing right and they  inflated their bag they they lost pegger  ust lost peg with a dollar and the whole  ecosystem seemed to be destroyed  overnight almost  now it's starting to make a little bit  of a comeback if you look at the last  month here we're at point zero zero zero  zero eight uh and now it has gone up  about 5x more than 5x in a couple weeks  and there's one big reason for this  which we'll talk about here in a second  you can see the volumes have picked up  as well right with the 24 hour volume  being nearly three billion dollars which  is pretty substantial now if you guys  want a place to go buy and sell  cryptocurrencies uh not l unc but some  of the major cryptocurrencies you can  check out the link underneath the video  to block fi  definitely check that link out  underneath the video now why is the  surgeon volume happening now all right  what's happening well  if you go take a look at anything on uh  on google if you just look up lunc you  can see so many articles talking about  this 1.2  tax burn  so what they're going to do is impose  this 1.2 percent tax to hopefully bring  down the circulating supply which went  insane obviously it went up to 7  trillion  and they're going to try to burn tokens  this way and then the price will go up  right if the market cap stays the same  then if there's less circulating supply  the price will go up now i see a couple  good things a couple bad things with  this a lot of cryptos do this if you  didn't know like even binance  essentially what they do is they go back  and buy tokens which is essentially the  same thing and then they go burn them or  put them in a dead wallet  a lot of other tokens do this as well  even bitcoin which doesn't do this  actively the fact is some tokens are  kind of burned in the fact that uh  people lose their address people lose  their private keys people uh send crypto  to the wrong address and then it's just  gone forever so this does help the price  it reduces selling pressure  and can definitely push the price up now  tara is actually growing quite quickly  you can see that's worth 2.8 billion  dollars it's jumped up a lot from a tie  it's ranked 205 overall which i think  this is actually wrong i think um and  the coin market cap sometimes does some  funky things with tokens and  they are definitely bigger than 205 if  they're 2.8 billion dollars if you just  go to the home page and look at some of  the top cryptos  top 30 they're not this big so what  exactly is happening well people are  getting excited about this token burn  there's a lot of marketing happening  right now too like i said on youtube a  lot of people are posting videos and  they're getting a ton of views and  people post more videos when they get  views so there's a ton of people that  are starting to get excited about luna  again there are a lot of bag holders as  well there are a lot of people that had  luna before and they just want to see  some of it return  and then some people obviously bought it  from the bottom now  on twitter there's a lot of people too  there are a lot of people talk about  lunc giving updates  now will this hit one dollar  that's what a lot of people are curious  about and i ran some math so  this is  kind of i think this is a good scenario  here basically what the tax is is 1.2  percent on uh on transactions now a lot  of the exchanges most likely won't go  through with this because they have to  implement it it's more work on their end  they don't really get too much out of it  but let's say  they comply they set up this token burn  and every seven days  the entire circulating supply  gets moved around  and gets burned  if we did this for a year and every  seven days it got circulated  we would have about 53 percent left of  the circulating supply right now we have  six trillion tokens  after we would have about 3.2 trillion  tokens what would this do on the with  the price if no one sold out and no new  people bought in well it would almost  double it not quite double it but be  close so that's kind of a i want to say  that's a good scenario not even a  realistic i say that's probably a little  bit better than realistic and then what  happens if it's ultra bullish and every  single day the whole circulating supply  gets moved around which again i don't  think it will we wouldn't see that kind  of volume i don't think every single  exchange will do that but  then if every single token gets moved  around well we would be cut almost 99  percent then the price would go up to  about three cents so that would be a  great return right if it was able to do  that now do i think that's gonna happen  no i don't think so uh we see a lot of  volume right now but if we look just  like a week back there's one tenth of  volume there's a lot of people excited  about the  luna classic burn that's coming here  soon but there are a couple problems  first of all they lost a lot of people's  trust in the project right even though  the same team is not there now the fact  is a lot of people just won't go back  and buy it it's it's too fresh it they  lost too much money on it they don't  want any part of luna classic anymore  second of all a lot of the devs left uh  a lot of the developers went and  just started working with other projects  the fact is they didn't want to be part  of a sinking ship and it seemed like  that's what luna classic was at the time  so now they have left  i don't know what you can still do on  luna classic let me know in the comments  section if you know but right now i  haven't heard too much it's pretty much  everyone just talked about the burn but  i don't hear too many people actually  talking about what luna classic is going  to be used for at this point uh and then  third i think there's gonna definitely  be some people selling  when we pump up right you don't see 100x  without a ton of people selling you  don't see a 10x with a without a bunch  of people selling especially for looking  at the bear market right if people are  making good returns in this they're  going to sell and move it to other  projects as well if we did a 100 x for  example without  much of a token burn the fact is that we  would have  luna classic beat out ethereum for the  number two spot on the on the largest  market cap so i don't think that's very  likely to happen and a lot of people  like to buy on the rumor and then sell  on the new so when this gets implemented  we may see a large dump off in tokens  now i could always be wrong  but that's kind of what i see happening  you don't see tokens that had such a  terrible thing happen to them typically  come back in favor a lot of people just  will never touch it again and while  there is a lot of excitement right now  and while it is really impressive that  the market cap is going up this quickly  the fact is that it's not likely to  sustain  now let me know your thoughts on this  underneath the video if this is one of  the first times you've seen my videos  definitely hit subscribe because i will  post future videos uh on crypto in  general and we talk about crypto every  single day or every couple days on the  channel so definitely be on the lookout  for that again there's a link to blockfy  and i'll see you guys all in the next post bye