Transcription
Terra Classic. Terra Classic is the number one trending coin right now. And why is that? Well, there's been a decent acceleration in terms of burns. Obviously, they're doing some upgrades. Uh, and the price has risen. The price has risen pretty nicely off of um the accelerated burns and the optimism about the next upgrade. So, we're going to dive into what is happening in Terra Classic right now.
Before I get into it, if you're new here, the spreadsheet shows the first 26 coins that I did videos about on the channel. In [snorts] the videos, I show myself buying up all of these coins. These were cryptos that I thought were going to do very, very well. We're going to make a lot of money, which is obviously why I show myself buying them up. Uh, these were their prices when I recorded and released my videos. These are the highs these coins hit in the last bull cycle. And these are what your profits would have been if you'd have put $100 into the coins. $100 into every single one would have been a $2,600 investment. That would have made you a profit of over $123 grand, and it only took about 16 months.
Now, the [snorts] thing is is you don't have 16 months to get things sorted because we're in a bull cycle right now. If you've got coins you're not happy with, cryptos that are not performing, you've got to get it fixed. If you don't know where to begin, have a look at copy my crypto.com/youtube. So, this is the special offer I'm running right now for my YouTube followers. You get full access to my site, full membership to my site for half price, and there is a 60-day money back guarantee.
On the site, I share with my members all the cryptos I own. Whenever I find any coin that I think can do very very well, like many of these, I jump onto the site, tell the members about the coin, the reasons it can do well, price, I'm going to buy at. So, my members are in and out of crypto, same price as me, so they make the same profit. If you go onto the site, you'll see some of the profits the members made, some of the successes that led there, whether it was a meme coin that we only held for a Fortnite that did a 300x, or whether it was Phantom, which in the last bull cycle was one of the best performers. Myself, my members, we got in at half a cent. Phantom went up to $3.46. That's just shy of 700 times our investment. Bunch of my members became millionaires from that one investment alone. This is public record. You can verify it all on the history of this channel. And if you like what you see and you want to find out the cryptos that are going to be the winners in this bull cycle. All you have to do to find out is uh join up.
Now, Terra. So, obviously, Terra at one point was, you know, one of the most exciting projects. It was up to $120 bucks. Uh, huge amount of money had flown into it. They had their uh US um stable coin, their algorithmic stable coin that got attacked. There was a depegging and that never ever recovered. And what ended up happening was basically um a ton of Terra Classic tokens got minted. There's never this kind of supply. Trillions of tokens got minted off of that exploit that was found. And then off of that, you know what happened to the price? Well, all of a sudden there's a trillion more tokens. Price drops. Is this literally the same as what happens with a fiat currency. It's worth less. It's worth less because the governments keep printing it. It's just simple.
>> [snorts] >> Um so yeah so obviously um they refer to this Terra as Terra Classic because it is still the original chain with no uh significant tinkering like uh the new Terra. Um Do Kwon has claimed that the collapse of UST is the equivalent moment of Ethereum's DAO hack that took place in 2017. However, um you know this wasn't I mean it was still strong crypto. It was top 10. I think it was top five actually when it crashed. But um it wasn't as important as Ethereum was when that hack happened. So Terra was founded by Daniel Shin and Do Kwon. Do Kwon obviously has had a litany of problems since uh this crash. He has been arrested. He has been he is being charged um with with money laundering etc. Like he's been charged with a bunch of stuff. Um the Terraform Labs approved a $1.3 billion settlement um about a month ago. Um this was for uh this was notable as it reflects uh significant regulatory market shifts. It affects key crypto assets like Terra Classic, Terra Luna, sorry, and Luna uh while outlining a structured path for credit reimbursement. The settlement includes oversight from claimants like uh Three Arrows Capital. Uh distribution utilizes a pro rata model ensuring fair allocation through a structured wind-down trust. Analysts note the small-scale claims exclusion. However, major exchanges report no liquidity shifts. Um the settlement highlights financial recovery compliance for crypto holders. Looking ahead, this certainly could lead to new frameworks for uh any such issues in the future. So that was obviously a good step. Um now of course this is just dead now. Um so Terraform Labs began winding down after the Chapter 11 was complete. So you've got an inactive X now. But there are there is optimism around uh this upgrade. They have done a ton of burns as well. Um so you can keep an eye on the burns. So so you can still get staking and earn 5.95%. Um which I suppose is something right.
In terms of markets, it's on uh pretty much everywhere. If you're going to get it, guys, I'd recommend BitGet just because if you don't have an account, they have a welcome pack uh that is enormous. It's a $6,200 welcome pack. Uh that's the reason I work with them. It's the best welcome pack in crypto. If you use the link in the description, um you'll be entitled to that welcome pack when you join up.
So, Terra Classic, like I said, um you can stake. They still are building blockchain. They they are still building for uh the Terra Classic system, but the reality is from my perspective is this is just you're kind of just waiting for this to die. We'll have a look at the Luna burner though, so we can get an idea. So this is the real-time uh burn tracker. Um so total burnt has been 188 million tokens. Um that's burn by tax. That's in the last 24 hours. [clears throat] Oh, no, sorry. That is all time. I believe proper burn is 17. Like 24-hour burn is 17,000. Um, it's not bad, I suppose. Oh, no. Yeah, total burnt. Total burnt. 426 billion. That's pretty good to be fair. 426 billion burnt um isn't bad, right? The reality is is there are trillions of tokens. So, there's a long way to go, but it's a step in the right direction. They have to actually crush that supply. This price will never recover if the total if the supply remains in the trillions.
Um, I personally have little to no faith in the long-term recovery of this because the thing is, let's say in an in an incredible world, they get up, they manage to reduce the supply down to a billion tokens, right? Which is massive, take years. Say they get down to that, how many people are going to be keen to invest knowing the history of Luna, knowing the history of Terra Classic, knowing the fact that they got exploited, they got hacked and people lost billions. How many people are willing to take that risk again when there are plenty of cryptos out there that have not been hacked or there are plenty of cryptos out there that are issuing returning stable or providing stable returns. Terra's long-term success, the fact that it's still knocking about is down to trading, nothing else. Because there aren't really investors here that are going long-term. I believe Terra is going to end up still being a beast. I don't think anyone believes that. I think we're at a point now. I mean, there might be because there are still a small community working on Terra Classic, but in general, no one believes in it, right? It's a very because of its low low price. It's a high volatility asset. So, it makes it very very good for trading. And that's really what we're seeing lots of people trading it all day every day. So, it's kind of my uh expectation is that it will last for as long as it lasts because of um because of the fact that people are trading it day in and day out. But long term, I still think this dies. Still think this dies. Sorry to say, but what do you guys think? If you're a holder, why are you still holding? Is it just that your holding is worth sod now? Um yeah, just let me know in the comments what like why are you still holding it? Are you trading it? Are you if you're trading it, how is that how is it as an asset to trade compared to everything else? Uh let us know in the comments.
[snorts] And guys, we're in a bull cycle. If you're sitting on coins you're not happy with, if you've got cryptos that are not performing, you've got to get it fixed. If you don't know where to begin, have a look at copy my crypto.com/youtube. This is the special offer I'm running right now for my YouTube followers. You get full access to my site, full membership to my site for half price, and there is a 60-day money back guarantee.
On the site, I share with my members the coins I own. Whenever I find any crypto that I think can do well, I jump onto my site, tell my members about the coin, the reasons it can do well, and the price I'll be buying at. I do the same when I sell, so there's no work for my members. If you go onto the site, you'll see some of the profits the members made. You'll see some of the successes that led to those profits as well. Whether it was a meme coin that myself, my members held for a Fortnite, did a 300x or whether it is Phantom, which in the last bull cycle was one of the best performers. Myself, my members, we got in on Phantom at half a cent. It went up to $3.46. That's just shy of 700 times our investment. Bunch of my members became millionaires from that one investment alone. This is all public record, so you can verify it all on the history of this channel. And if you like what you see and you want to find out the coins that are going to be the winners in this bull cycle, all you have to do to find out is join up on the site. So take a look and if you like what you see, I'll see you there. Otherwise guys, take it easy. Bye-bye.