In a shocking turn of events, prominent Terra Classic (LUNC) community member and former Layer-1 Task Force developer, Tobias “Zaradar” Andersen, has made serious allegations regarding the LUNC market, stirring heated debates within the community.
Maybe the question LUNC should be asking itself, is not wen 1, but rather wen 0 😂
Please stop asking me when the price will do X. The market is clearly rigged by a single actor and I do not deem it feasible that this actor is operating without the help of KuCoin and Binance 🤷♂️ pic.twitter.com/cNn9JaQLka
— Tobias Andersen (@ZaradarBH) July 24, 2023
Zaradar’s Bold Allegations against Terra classic (LUNC)
Zaradar made bold claims that the LUNC market is being manipulated by a single actor, potentially with the assistance of major cryptocurrency exchanges, including KuCoin and Binance. He raised concerns that the market might be intentionally rigged and questioned whether the value of LUNC could eventually plummet to zero. While some members of the LUNC community challenged Zaradar’s claims, the developer firmly stood his ground, emphasizing the difficulty in proving such intricate market manipulations.
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Possible Collaboration with Influential Exchanges
Zaradar insinuated that the alleged solitary entity manipulating the market might be operating in collaboration with influential exchanges. He specifically highlighted a past incident involving Binance Chief Changpeng “CZ” Zhao and Justin Sun, the founder of Tron. CZ’s warning to Sun against bringing significant amounts of USD to Binance raised questions about the frequency and timing of large-scale capital movements, adding weight to Zaradar’s suspicions.
Calls for Mass User Adoption
Canadian professional football player Nicolas Boulay joined the discussion, proposing that mass user adoption could help resolve some of the market issues. Boulay emphasized the importance of a cryptocurrency’s use case and suggested making LUNC a globally adopted currency, owned and governed by the people, as a means to diminish concerns about price fluctuations.
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Mass user adoption is the only solution. Any currencies value is its use case. Make #LUNC a global currency owned and governed by the people and the price wont even be an issue anymore.
— Nicolas Boulay (@NicolasBoulay) July 24, 2023
Zaradar’s Disillusionment
Despite the ongoing debate, Zaradar seemed disillusioned with the current state of LUNC. He expressed doubt about the feasibility of addressing the alleged market manipulation and suggested that it might be more profitable to start anew with a fresh blockchain.
Community’s Response
The LUNC community has been in a state of unrest since the revelations. Some members are demanding concrete evidence to support Zaradar’s claims, while others are exploring potential solutions to strengthen the cryptocurrency’s fundamentals and ensure a fair market.
LUNC’s Future
With serious allegations of market manipulation, LUNC’s future hangs in the balance. The community awaits further investigations and transparency from the development team and exchanges involved.
As the situation continues to unfold, regulators, investors, and cryptocurrency enthusiasts are closely monitoring developments surrounding Terra Classic (LUNC). The outcome of this controversy may have broader implications for the cryptocurrency market as a whole.