In a recent development, a renowned member of the LUNC community has pointed out the sure mean to get the LUNC to 100X its price other than the general belief of the community which solely believes in the LUNC burn to get the price up.
Increased LUNC Staked Will Spike The LUNC Up By 100X
Rex recently disclosed these measures through his Twitter handle. Still, he shifted focus away from token burns which the broader LUNC community has often touted as one of the most critical campaigns in the journey to rejuvenate the asset.
Rex’s Analysis
He mentioned that the first measure to get the token to 100X its current value is to substantially sporadically increase the amount of LUNC staked to about 50% of the total amount in circulation.
He further analyzed that staking about 50% of the total supply of the LUNC in the community will get the circulation of the LUNC to a minimal amount of 3.44 trillion tokens.
It is with no doubt that Rex’s faith in the spike of the LUNC’s price is spiking, believing that the price could be doubled.
Furthermore, he noted that if the ratio of staked tokens to total supply further increases to 75%, which amounts to 5.15 trillion tokens, the asset’s price could double once more.
At the moment, the amount of LUNC staked is sitting at the 901.8 billion level, which is 13.1% of the asset’s total supply.
He also revealed another way of getting the price of LUNC to a good price level aside from the staked analysis he did previously. He highlighted utility as another way of increasing the LUNC’s price. He gave an instance that when an asset has a utility or use-case, this implies that the asset serves a purpose other than being a store of value or a speculative investment. The utility has been one of the most discussed aspects of LUNC, as the community seeks to rejuvenate the asset.
Read Also: Neblio To Build A LUNC Staking Functionality Via Mobile Wallet.
IBC To Drive LUNC Staked
However, the Osmosis Inter Blockchain Communication was reopened late last year and it was said that it will drive more utility and underscores the community’s efforts at bringing utility to LUNC. Rex believes more utility should provide a significant boost to the asset’s price.