Luna Isn’t Going To $1
I saw many people on Twitter saying to put $100 into LUNA and if it goes back to $1, you’ll make millions. Here’s why there’s no way LUNA is going to $1. When LUNA was around $60 on May 8th its circulating supply was around 342 million as shown below (Messari).
If you look at the image above when UST got de-pegged LUNA’s circulating supply went up to 6.5 trillion. This means at $1 LUNA’s market cap would be over $6 trillion. That would be close to 3x Apple’s market cap, and around 6x the total crypto market cap according to CoinMarketCap. There's no way this is going to happen and LUNA’s price a couple of weeks ago shouldn't be used as a measure of how high it could go since the supply was way less then.
Unless trillions of coins were to be burnt there’s no way LUNA is going to $1. Thanks for reading and consider following me for more content like this.
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