$34 million of $LUNC will get unlocked Sept. 15, and there aren't many buyers around
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.LUNC's parabolic growth in the beginning of September was fueled by the proposal to include a 1.
/6 Even at face value, daily burn is much more likely to skew to the more conservative scenario, which models at $55k a day. A drop in the bucket for a $3b token that just went up 500% due to the excitement surrounding this proposal.One of the biggest exchanges in the world, Binance, has released a statement in which they told their users that they will not implement the fee, which puts the daily burning volume to only $55,000.
On Sept. 15, $34 million worth of LUNC tokens were released, which raises an important question: Who is going to buy all the volume injected on the market? The main increase in the trading volume we saw earlier originated from Binance due to relisting and lack of data that would show a previous catastrophic drop.
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