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HomeCrypto NewsMarketZaradar Comments on Latest LUNC 36% Surge, Calls Terra Classic Online Monopoly

Zaradar Comments on Latest LUNC 36% Surge, Calls Terra Classic Online Monopoly


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While commenting on the latest LUNC price surge, Zaradar, a former member of the L1 team, says Terra Classic is currently a game of online monopoly.

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Tobias Andersen, commonly known as Zaradar, recently commented on the recent price surge from Terra Classic (LUNC), which saw the asset close yesterday by a massive 29% increase. Zaradar believes the surge was a pump scheme, and LUNC is currently just “a game of online monopoly.”

Zaradar made these remarks while responding to a disclosure from Mike, a LUNC community member. In a tweet yesterday, Mike highlighted the enormous liquidations observed among LUNC short positions. Notably, up to $322K in short positions had been liquidated in 12 hours, with only a meager $24K in long liquidations.

In response, Zaradar asserted that the people behind the pump just raked huge profits from the recent scheme. He believes these individuals will use the realized gains to try to pump and dump LUNC again if the recent drop in the asset’s price is a result of forced correction from Binance.

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“They just claimed an insane amount of profit, which they will use to pump and then dump again given that this was a forced correction by Binance, which is really just blatant market manipulation on their behalf at the expense of their customers,” Zaradar remarked.

Responding to another LUNC community member who asserted that the developer was upset with the latest rally, Zaradar, who previously worked as an L1 team member, revealed that he also jumped on the rally, printing a profit of $8,000 from a long position he entered when LUNC was trading for $0.00008.

Speaking further, Zaradar argued that, at the current state, Terra Classic is just a game of online monopoly. “I really don’t understand all the noobs who think LUNC is anything but a game of online monopoly at its current stage,” he said.

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Notably, LUNC surged 36% in 24 hours yesterday, closing the day with an impressive 29.64% increase. However, the asset has started declining sharply as of press time, dropping by 13% today. This led to speculation that the surge could have been a pump-and-dump scheme – a sentiment Zaradar holds.

Zaradar Criticizes the LUNC L1 Team

Recall that Zaradar left the Terra Classic L1 team in April following a rift between him and some community members concerning his compensation as a senior developer in the team. 

Being a former member, Zaradar recently criticized one of the team’s initiatives. According to him, the proposed test environment for assessing the feasibility of USTC’s re-peg events is unnecessary. 

As The Crypto Basic disclosed last month, the L1 team plans to use part of the compute budget for Q2 to work on the test environment. Zaradar believes this is a waste of resources. In his words, the proposed USTC re-peg test environment is “a bad joke.” 

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



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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