By This TabStocks article is an update from our previous LUNA article. We explore the current situation regarding the $LUNC airdrop etc
The dying LUNA crypto coin that crashed from $120 to around zero has been reborn.
The new LUNA crypto is now Luna Classic (LUNC)
The eToro team airdropped the news today 31 May 2022, around 4pm GMT
But Luna investors lashed out at eToro for not airdropping the free new LUNC coins.
Had they done so, the value of their holdings would not have suffered the price squeeze; post the LUNA=LUNC hard fork.
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Terra blockchain had planned to issue LUNA holders with free LUNC coins via an airdrop.
However, eToro Lunatic investors b-lined to their mobile phones, tablets and laptops all over the world; to find out if their trading and investing account had been updated.
But the LUNC airdrop did not take place!
Some LUNC investors using the eToro platform left comments on the eToro app accusing eToro of profiting from the airdrop by withholding the new LUNC coins.
Trading resumed for LUNA now as LUNC / $LUNC on the eToro app
The only drop eToro reported is found within the following sentence of eToro’s update today:
It’s important to note that the value of Luna could also drop similarly again
The Terra Network could still decide to burn LUNC coins following the airdrop.
If they did, the price of LUNC would likely rocket.
eToro also informed LUNC investors the following:
$LUNC may also be removed due to certain security concerns we may hold along with regulatory requirements.
The Terra Network, the people behind the LUNA CLASSIC (LUNC) are working on transforming the whole company and the chain of people and technology $LUNC exists by.
On the one hand, the eToro Team are trying to please LUNC traders and investors by listing $LUNC on their platform.
However, eToro seem to be overly cautious about LUNC.
What LUNC traders and investors want from eToro is transparency and regular updates. And of course the airdrop to takes place.
LUNC is currently worth $0.0001297
LUNC’s market cap is currently $847,719,939
The price of LUNA on eToro was $0.00014 before the transition and $0.00011 once born again as LUNC and live on the eToto website.
Some $LUNC investors on eToro complained that the price is a lot higher on other trading and investing crypto platforms. As high as $0.00017
Other cryptocurrency exchanges have allowed the airdrop to take place for its LUNC holders. Bitoasis made sure that their LUNC investors received the airdrop of new coins.
Some eToro investors also complained that:
They were not able to buy $LUNC on eToro’s platform
Other $LUNC investors on eToro left messages for the eToro Team, saying that they believed eToro were withholding the airdrops of new coins, so as to trade the new coins to make a profit.
Read why LUNC could dominate the future of crypto
Read LUNC price prediction article
Many eToro investors plan to leave eToro and join other cryptocurrency providers.
If eToro do use $LUNC airdropped coins it has not passed on to LUNC holders this would be a bad move for $LUNC holders.
The process would involve eToro waiting for the $LUNC price to rise a lot.
Then when eToro has made its money, it would sell the amount of $LUNC that gave it its profit.
After this eToro would be airdropping the new LUNC coins, BUT at the higher price.
Therefore, LUNC investors on the eToro platform would not be able to profit from the $LUNA price rise or gains eToro had made.
This could result in eToro being sued by investors of $LUNC in a class action lawsuit.
Some $LUNA investors believe their LUNA holdings have been reborn as $LUNC into a crooked trading and investing platform.
If at some stage $LUNA coins are burnt following the airdrop. The price of $LUNA could rocket to the moon.
If this burning of $LUNC took place, this would be good for LUNC investors as well as eToro who withhold the airdropped coins at cheap prices.
Gives ‘Crypto Leaning’ a whole new meaning
eToro stand to make hundreds of millions of dollars if not many billions of dollars.
It is not out of the question that the price of $LUNA could rise higher than $120 and even become the new Bitcoin price wise.
eToro need to repent and issue its customers with the airdropped new $LUNA coins.
Will the company burn LUNC?; is LUNC being burned?; LUNC token burn, when will it happen? These to answer to these questions will only become certain when the company makes moves to burn LUNC.
You can follow the LUNC chart on eToro; just search eToro LUNC; and eToro LUNA to compare prices; LUNC is on eToro.
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