coinedition.com
Classy Crypto, a renowned crypto influencer, has said that the Terra Luna Classic project would die unless something significant happened. According to the influencer, there is no question about that, and he provided his reasons for coming up with such a conclusion.
In a recently uploaded video, Classy Crypto said that the number one thing LUNC users are concerned about is burns. He cited a video by Clay, a famous member of the Terra Classic community, who spoke about a proposal that could burn a massive amount of LUNC and USTC.
Classy Crypto was skeptical about the status of CoinInn, the crypto exchange Clay cited in the video to carry out the coin burn exercise. He showed that CoinInn is not among the top 200 crypto exchanges on CoinMarketCap.
The crypto influencer acknowledged CoinInn’s effort to burn LUNC and associate with the Terra Luna Classic community. However, he questioned the impact the exercise would have on LUNC, considering CoinInn’s status. According to him, CoinInn is not a top exchange because it is nowhere near what he has seen.
In Classy Crypto’s opinion, CoinInn’s burn proposal is not worth the excitement, mainly because of LUNC’s relatively low status in the crypto market. He explained that LUNC is not a meme coin or the coin of a new project. On the contrary, it is a coin that has been out for a long time with a legacy community and legacy developers, but nobody wants to build on it.
Developers avoid building on Terra Luna Classic because they do not care about the burns, said the influencer. Moreover, he added that the burn narrative for Terra Luna Classic is dead, emphasizing that it no longer matters to the community members and does not give them any advantage.
Classy Crypto decried LUNC’s insignificant market share compared to other DeFi projects, such as Friend.tech. He revealed that LUNC’s total value locked is only $1.63 million, while Friend.tech’s TVL is $50.59 million, per crypto data website DeFiLlama.