Bang or Bust? 🤔
A short thread (5 tweets) of the surprising #LUNA performance since listing 👇👇👇
1/ The much anticipated #LUNA 2.0 airdrop took place this weekend & damn was it interesting 🤯🤯 #LUNC remains the the old version of LUNA and performed well over the weekend pumping more than 50%
2/ #LUNAtics in the community have been somewhat negative & unsupportive of LUNA and the fork. Some have remained faithful and believed that the fork and airdrop would hopefully make them whole again after the bloody crash...
3/ The delegation of tokens remains interesting between pre-crash & post-crash but many #LUNC holders received 30% of the genesis supply in an airdrop over the weekend, with the rest being linearly distributed over 2 years. ByBit prices for #LUNA hit $30 🤯
4/ Part of the price pump ⛽ is due to the low circulating supply (only 21% of total supply)
This typically results in positive price appreciation that some call 'inflated prices'
#LUNA comfortably traded above $5 most of the weekend. On #KuCoin it was the Top 2 most traded
5/ It's natural to assume that because the supply of #LUNA is only 1 billion, it will be easier to maintain a top Mkt Cap
It's also important to recognize that as soon as more tokens are released on the market, tokens become less scarce & it results in negative price action 📉
6/ The recent pump in #LUNA is leaving most of the community split in two.
The question on everyone's mind is: Bang or Bust? 🔥🤔
What do you think is going to happen 👇👇👇
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