• Terra Luna Classic has been struggling since its collapse, with investors sharing a concern for the coin’s future.
• The team behind the project is attempting to get the token back to its previous glory, with a target of getting the token past $1.
• Binance has offered to work with Terra in an attempt to reduce the circulating supply of the token.
The future of Terra Luna Classic has been in question since the token’s collapse a few days back. After an optimistic upwards rally, the coin’s price took an unexpected 28% drop, leaving investors with a feeling of uncertainty and concern. The team behind the project, however, is doing everything in their power to get the token back to its previous glory. With a current target of getting the token past $1, the company has resorted to multiple solutions, including partnering with Binance.
Binance has offered to help reduce the circulating supply of the token, with a LUNC burn program that initially burned 100% of the spot and margin fees until recently. This number has since shifted to 50%, which will not be enough to get the token to its target value of $1. The total supply needs to be around 880 million, compared to the current 6 trillion. In an effort to receive more community support, the company has been trying to find other solutions that can help increase the burn rate.
The team behind Terra Luna Classic is doing everything in their power to get the token back to its former glory. However, the future of the token is still uncertain, with investors having to wait and see what the project will come up with. It is important to remember that the token is still in its infancy and that all investments should be made with caution. With any luck, the token will be able to make a comeback in the year ahead.