Skip to content
Crypto News Focus logo CNF_CRYPTO_NEWS_FOCUS_LOGO 8

Crypto News Focus

your day to day crypto news site

Primary Menu
  • Home
  • News
    • Bitcoin News
    • Ripple XRP news
    • Ethereum News
    • Cardano News
    • Shiba Inu News
    • Pi Network News
    • More
  • Analysis
  • PR Desk
  • About Us
  • General Policy & Privacy
  • Guides
    • Bitcoin Guides
    • Pi Network Guide
    • Cardano Guide
  • Politics
  • Tech
  • Home
  • News
  • Will $40 Billion in LUNC Save the Day? Investor Makes Bold Bet on Terra Classic
  • News

Will $40 Billion in LUNC Save the Day? Investor Makes Bold Bet on Terra Classic

Sean Williams 2 September 2024
luna burning
  • A prominent Bitcoin investor, Vasil, revealed he holds 40 billion Terra Classic (LUNC) tokens, valued at approximately $3.09 million, stirring significant discussion in the crypto community.
  • His disclosure comes amid a price decline for LUNC, with reactions ranging from excitement about potential bullish implications to concerns about market impact.

In a recent and surprising announcement, Vasil, an early Bitcoin investor and Kaspa (KAS) whale, has revealed a jaw-dropping 40 billion Terra Classic (LUNC) tokens in his portfolio. This revelation has generated a whirlwind of excitement and skepticism within the crypto community, particularly given the current state of the LUNC market.

The Timing and Impact

The disclosure came at a time when LUNC’s price was experiencing a notable decline. As of the latest data from CoinMarketCap, LUNC had dropped by about 3.03%, trading at $0.00007708. The timing of Vasil’s announcement—while the coin’s value was in retreat—has added fuel to the debate surrounding his massive holding.

Vasil, who has been involved in Bitcoin investment since 2013, explained his significant investment in LUNC by emphasizing his belief in the project’s community. Despite LUNC’s tumultuous history, including a drastic 99% drop in value following the collapse of the TerraUSD (UST) stablecoin in May 2022, Vasil’s confidence remains unwavering.

The Community’s Mixed Response

The crypto community’s reaction to Vasil’s post on X (formerly Twitter) has been a mix of enthusiasm and apprehension. Some investors view his massive LUNC holding as a bullish signal, believing that his substantial investment could help boost the coin’s value. On the other hand, concerns have been raised about the implications of such a large stake held by a single individual.

Shane Bannister, a community member, voiced concerns about the concentration of LUNC holdings. He suggested that the large share controlled by one person might hinder the token’s price recovery. Vasil responded by asserting that his investment in LUNC, funded by selling Bitcoin, underscores his commitment to the project. He believes that such actions can drive up demand and potentially lead to a price increase.

Conversely, some users, like SGG Research, expressed skepticism about LUNC’s future. Comparing the project to a “unicorn,” they questioned the likelihood of a successful turnaround, albeit with a hint of hope that Vasil’s investment could bring some much-needed magic to the crypto world.

The diverse reactions to Vasil’s LUNC holdings highlight the varied perspectives within the crypto community. While some view the large investment as a positive sign for future growth, others remain cautious, reflecting the broader uncertainty and volatility in the cryptocurrency market. As the LUNC project continues its efforts to recover from its previous lows, the impact of significant investments like Vasil’s will be closely watched by all stakeholders involved.

Continue Reading

Previous: Ripple’s Blockchain Boost: How Local Banks are Revolutionizing SME Payments
Next: Should Investors Be Worried About Ripple’s 1 Billion XRP Unlock?

Related Stories

Ripple XRP on BLUE
  • News

Ripple Pushes New Crypto Rules to Limit SEC’s Power

Cal Evans 30 May 2025
Tron TRX coin
  • Analysis

Tron Flips Cardano in Market Cap as TRX Eyes $0.30 — But Trouble Looms

Sean Williams 30 May 2025
dogecoin on marbles
  • Analysis

Dogecoin Drops 10% as Traders Eye Rebound from Soaring Volume

vivian 30 May 2025

For general inquiries, please email us at Info@cryptonewsfocus.com

Crypto news focus is your day-to-day crypto news site. Get all the latest News and trends in the crypto, blockchain, and DeFi space. For more info and inquiries, reach out via email at info@cryptonewsfocus.com

You may have missed

Ripple XRP on BLUE
  • News

Ripple Pushes New Crypto Rules to Limit SEC’s Power

Cal Evans 30 May 2025
Tron TRX coin
  • Analysis

Tron Flips Cardano in Market Cap as TRX Eyes $0.30 — But Trouble Looms

Sean Williams 30 May 2025
dogecoin on marbles
  • Analysis

Dogecoin Drops 10% as Traders Eye Rebound from Soaring Volume

vivian 30 May 2025
PEPE COIN IMAGE
  • Analysis

PEPE Eyes New Highs in June Backed by Strong Whale Accumulation

Jane Kariuki 30 May 2025

Social Media

Crypto News Focus © All rights reserved | MoreNews by AF themes.
Go to mobile version
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok