Everything is possible
We are still technically in a bear market where every asset has lost almost over 90% of its value. It is not easy to navigate through the bear market and remains always positive.
I hope we are going soon to see the green coming back into the chart territory. With the SEC attacking crypto companies in the US. Bitcoin remain flat in the range of 26k to 30k for a while now.
Altcoins keeps following the king of crypto!
I was reading a quick article that mentioned Terra Classic to come back to 1$. It is picking up my curiosity to read the article to understand the nature of this affirmation.
The supply of Terra Classic
At the moment is unimaginable to believe an affirmation of this nature in the current market condition. We are not gullible to believe based only on one article we read from an unknown person on the Internet.
You need to always double verify to see the current reality of the token. My favorite place to check for tokens is CoinGecko that I use for a while now. It is one of the best places if you are a crypto enthusiast who loves discovering new projects. Also, knows the latest crypto price of your favorite token.
The supply of the tokens is 5,8 trillion of tokens, an incredible number for the common of mortals. For Terra Classic (LUNC) to come back to the 1$ is technically impossible.
Burning the LUNC
One of the popular ways to make a token valuable in the realm of crypto. It is burning to the token by sending the tokens to an unspendable address.
The consequence of this action is the supply diminishes, and makes the token more attractive. The outcome might result in the token increasing in price.
We still have a long way for the token to reach 1$!
The ATH was 119.18 before the collapse of the Terra ecosystem last year. A bad event in the history of crypto where people lost billions of dollars in a debt spiral.
1 trillion LUNC staked
Another important event is 1 trillion LUNC token is staked and not liquid on the market. It is an astonishing accomplishment but you need to remember the supply is 5.9 trillion of tokens.
When people stake their assets, this has the positive effect of diminishing the liquid supply of the token in circulation. In correlation with price maybe to increase in value.
Not always guaranteed, but this has a good benefit for LUNC.
If you want to speculate
You can receive freely the LUNC with a lot of faucets out there on the internet. This cost you only time to click and accumulate the LUNC tokens. You can do this during the ongoing bear market if you have the time naturally.
If you don't take any risks, you will never know the outcome!
I know personally faucets are a waste of time! But imagine if LUNC comes back to 1$.
You have the option or you can simply buy them with fiat money!
If you don't take risks, you have nothing in return.
PS: It is my personal opinion only. I am not a financial advisor, and always do your own research.