My Terra Luna Classic investment is already 7X
I have been observing the price of Terra Luna Classic for the past 3 days. I'm able to see that the price has increased by more than 100% in the last few days. It is all because of the recent network upgrade they did. If the rumors are right they have introduced staking and have also found a way to burn the tokens. There are articles outside that explain what happened and why the price of Terra Luna Classic is pumping. This article provides some details on this event.
I initially thought that the price would stop pumping after a point. But it has been continuously pumping for the past few days. Many people say that it is a dead project but some people think that there are still hopes for this project. Looks like the developers of the project are not going to stop until they bring back the price of the token to 1$ again. I don't know how realistic it can be but maybe it is a possibility.
They have burnt a huge amount of tokens in the last few days and in addition to that, they have also enabled on-chain staking with the help of some exchanges. Binance also announced that it would be supporting the changes to the chain.
My investment
When the Luna price fell a few months back because of some issue, many people lost their money. After that, they split the chain and made the old chain Terra Luna classic. After the price went down, I thought maybe it can be a good time to purchase and hold for the long term. I was not sure about what would happen to the token price but I was confident that the price may not stay the same as my bought price.
I did not invest much. I wouldn't even call this an investment. I wanted to just gamble by throwing small money at it. Honestly, when I thought about investing, I did not expect any big return. I wanted to give it a try only for 20$. For 20 dollars I got exactly 555555.55 coins for 20 dollars. I did not imagine the price to go more than 2X but today the price is over 7X already than my bought price. Now I'm starting to think that I should have invested more than 50 or 100 dollars which is not a big deal.
Today I'm happy to see my investment value grow. I don't still believe that the price of the Luna classic can go beyond 1$ because there is already too much supply. But I'm confident that there will be done again for this coin especially after seeing how the developers are desperate to come up with more features for this coin. Another good thing is that they are also working on reducing the supply of Terra Luna Classic which can bring us hopes to increase the value of each individual token. Not by so much and not immediately but I think it can have a decent impact. If the value of Terra Luna classic goes above 1$ anytime, I will have over half a million with me. That's sufficient for me to get financial freedom.
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