Lately, Terra Classic seemed to enjoy a positive outlook that saw the crypto project close a recent trading day by over a 30% increase.
While speaking about the latest price surge in Terra Classic, Tobias Andersen, a former member of the L1 team, better known as Zaradar, maintained that the spike was merely a pumping strategy, claiming that Luna Classic (LUNC), Terra Classic’s native coin is a game of online monopoly.
Read Also: Could This Be the Major Reason Why Terra Classic (LUNC) Surged Up To 36% within 24 Hours? Details
Zaradar’s claims got prompted by a Tweet shared by Mike P., a LUNC community member, who shared some charts that spotlighted the tremendous liquidations observed among LUNC short positions. Surprisingly, about $322K was liquidated in brief standings in 12 hours, while $24K got liquidated in long instances.
Reacting to Mike’s claim, Zaradar noted that the recent pump scheme experienced in Terra Classic was a technique to amass profits by specific individuals that would still use the proceeds from the pump project to try to pump and dump LUNC notwithstanding the recent drop in the asset’s price emanated from forced correction from Binance.
Zaradar tweeted, “They just claimed an insane amount of profit, which they will use to pump and then dump again given that this was a forced correction by Binance, which is just blatant market manipulation on their behalf at the expense of their customers.”
Meanwhile, another LUNC community member by the Twitter name dXavior attempted to get back at Zaradar by asserting that the former L1 team worker appears unhappy with LUNC’s latest bullish runs.
In response to dXavior’s attempt, Zaradar revealed that he was also a beneficiary of LUNC’s project, having previously gained $8,000 from a position he joined when LUNC was still worth about $0.00008.
Speaking further, Zaradar maintained that Terra Classic is a game of online monopoly. “I don’t understand all the noobs who think LUNC is anything but a game of online monopoly at its current stage,” Zaradar tweeted.
Read Also: Terra Classic (LUNC) Surges Over 30% in 24 Hours. What’s behind this Bullish Trend? Details
We mentioned that Zaradar was a former member of the LUNC L1 team. Zaradar left the LUNC team following a misunderstanding, which ensued between him and some of the LUNC community members concerning his remuneration as the team’s senior developer.
Zaradar is against the L1 team’s plan to work on the test environment by utilizing some portion of the budget from Q2. Zaradar believes the proposed test environment for checking the feasibility of USTC’s re-peg events is unnecessary.
Remarkably, LUNC witnessed a spike of 36% in the past few hours and closed with an outstanding 29.64% increase. Although, as of press time, the coin had already declined by 13%, which may hint at the authenticity of Zaradar’s pump-and-dump asset.
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