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HomeCrypto NewsMarketSenior TerraCVita Member Shares Fastest Way LUNC Could 100x

Senior TerraCVita Member Shares Fastest Way LUNC Could 100x

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The suggestions place particular importance on staking and an inflow of investments.

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Rex Harrison, one of the senior members of TerraCVita, has shared what he believes is the fastest way for the price of Terra Classic (LUNC) to increase by 100x. Rex’s suggestions include an increase in staked tokens and an inflow of investments.

Rex recently disclosed these measures through his Twitter handle, but he shifted focus away from token burns which the broader LUNC community has often touted as one of the most important campaigns in the journey to rejuvenate the asset.

According to Rex, the first measure to get LUNC to 100x its current value is to substantially increase the total staked tokens to 50% of the total supply. With a total supply of 6.87 trillion, this estimate puts the figure at 3.44 trillion tokens. Rex believes the price of LUNC could double if this feat is achieved.

Furthermore, he noted that if the ratio of staked tokens to total supply further increases to 75%, which amounts to 5.15 trillion tokens, the asset’s price could double once more. It bears mentioning that the total amount of staked tokens currently sits at 901.8 billion, which is 13.1% of the asset’s total supply. The 900B mark was recently surpassed once again.

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Utility and Investments

In addition to staking, Rex underlined utility as one of the fastest ways to drive LUNC’s price up. When a cryptocurrency has utility, it means the asset serves a purpose other than being a store of value or a speculative investment. The utility has been one of the most discussed aspects of LUNC, as the community seeks to rejuvenate the asset. TerraCVita announced that it would launch a LUNC DEX in Q1 2023 in this regard.

Additionally, the Osmosis IBC channel was reopened last December to further introduce utility and underscores the community’s efforts at bringing utility to LUNC. Rex believes more utility should provide a significant boost to the asset’s price. He also highlighted investments from several entities leading to a substantial increase in market capitalization to $25B, which would translate to a 25x surge. LUNC’s current market cap is currently $1.08B.

Notwithstanding, Rex placed little significance on the LUNC burn campaign, noting that it’s “great too” if they can sustain the initiative. Others, however, decided to highlight the importance of token burns in the goal to 100x.

Meanwhile, LUNC is currently trading at $0.0001807 as of press time, up 6.24% in the past 24 hours.

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Author

Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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