3 Possible Reasons Why LUNA Pumped 100% Over the Weekend -Breaking
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There are 3 Reasons LUNA was 100% Pumped Over the Weekend- LUNA saw a leap of 100% over the weekend.
- Coin starts week with 30+% gains in the past 24 hours.
- LUNA Pumping can also be caused by LUNA Burning, hard fork proposition, and difficulty in shortening LUNA.
Volatility (LUNA) cryptocurrency saw a 100% pump this weekend. After its initial price drop of 100% earlier this month, it experienced a 100% pump. The tragic drop saw its stablecoin TerraUSD (UST) de-peg from the dollar, wiping off billions of dollars of investors’ wealth. The stablecoins also came under fair scrutiny.
According to CoinMarketCap data, Terra (LUNA), is currently up 30.69% at the time of this writing. Let’s look at some of the possible reasons why LUNA is pumping.
The first possible reason why LUNA is pumping may have something to do with project founder Do Kwon’s proposal to burn the Terra Luna token and cap the supply at 1 billion. This process involves sending LUNA to an off-chain “burn” wallet address that can only be used to receive crypto and no other purpo …
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