Tobias Andersen, a former member of the L1 team, better known as Zaradar, has mocked the inconsistent comparison of LUNC’s price action with that of the leading crypto asset Bitcoin (BTC), dubbing it “Lunatic logic.” According to him, this proves that the claims of the network effect, user base, and distribution are greatly exaggerated.
This fresh fuss created by the developer, who departed the LUNC camp in April due to issues with funding proposals, has triggered several reactions from members of the Terra Classic community on the issue of leadership, trust, and project development.
Read Also: Zaradar Comments On 36% Surge In LUNC Price, Tags Terra Classic An Online Monopoly
LUNC and BTC price comparison
According to the ex-Terra Classic developer Zaraddar, the project’s community members have been inconsistent in their correlation of the price actions of LUNC with BTC price actions.
Per a Friday tweet accompanied by a mocking GIF featuring a panda, Andersen stated that Terra Classic community members often claim a dump in LUNC price is due to a corresponding retracement in the price of Bitcoin (BTC) but state otherwise when BTC soars and LUNC fails to follow suit.
Zaradar pointed out that when BTC tends to plummet by 2%, LUNC often drops in value by over 10% with the community claiming that it is following after Bitcoin price action. But on the other hand, when BTC tends to jump into an upward trajectory, Zaradar noted that LUNC often shows no corresponding upswing.
He wrote:
Lunatic logic: BTC drops 2%, LUNC drops 10%+. No problem, it’s all BTC. Lunatic logic: BTC goes up 25%, LUNC goes nowhere. No problem, it’s not correlated to BTC.
Lunatic logic: BTC drops 2%, LUNC drops 10%+. No problem, its all BTC.
Lunatic logic: BTC goes up 25%, LUNC goes no where. No problem, its not correlated to BTC.
Me: pic.twitter.com/lE8AafgihI
— Tobias Andersen (@ZaradarBH) June 23, 2023
At the time of writing, Bitcoin price has rallied by over 15% in the last seven days, breaking out above $31K on Friday. On the other hand, Terra Classic (LUNC) has recorded no significant price increase in the last seven days amid the market-wide mild recovery. In particular, LUNC is down over 3% and 1% in the last 24 hours and 7 days respectively.
Read Also: LUNC to $1: Terra Classic Development Team Receives Funding for Q2
LUNC community members react
Several crypto community members agreed with Andersen with a certain user stating that LUNC failed to appreciate despite the flurry of network upgrades including the recently executed Parity upgrade with the Cosmos chain. He further stated that trust is the most important thing for any project to grow, adding that LUNC lost it after the May crash.
Zaradar chimed in, implying that the Terra Classic community is filled with bullies which makes trust hard to build in the ecosystem. The ex-Terra Classic developer stated that centralized exchanges may become wary of the project due to the incessant commotions in the community.
The problem is that trust is hard to build in a schoolyard full of bullies. At best you end up with Battle Royal, which it looks like we have going on atm. I am sure CEXs will eventually tire of it all and leave it for the DEXs to try to pick up the slack🤷♂️
— Tobias Andersen (@ZaradarBH) June 23, 2023
Contributing to the discussion, Christos Vassilious submitted that what LUNC needs to grow is an unbiased leader to mark the way. Notably, the Terra Classic project became a community-driven one after Do Kwon and Terraform Labs abandoned the project in May.
Since then, several independent developer groups including Terra Rebels, TerraCVita, and the Joint Layer-1 Task Force have been spearheading the developments in the ecosystem. As reported, the JLITF has teamed with a newly formed team to work on repegging USTC.
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