Back in the day, Luna Coin was known as the 'King of Retail Consensus'! Now, its glory has faded!
Luna Coin earned the title of 'King of Retail Consensus' primarily due to its rapid rise from 2021 to early 2022, attracting a large number of retail investors.
At that time, the Terra ecosystem, through the mechanism design of the algorithmic stablecoin UST and Luna, along with market promotion and high yields, created a certain market heat. A large number of retail investors entered the market due to their optimism about the 'stablecoin + native token' model, driving the price of Luna Coin to surge significantly in a short period, resulting in a high proportion of retail holdings and forming a strong consensus among retail investors, thus earning the name.
However, this 'consensus' based on short-term market sentiment and speculative psychology quickly collapsed after the project's mechanism crumbled in 2022. It also reflects that the retail-led consensus in the cryptocurrency market often lacks a solid foundation and is easily influenced by market fluctuations and project risks.
Now, a new Luna Coin has been launched, with a fixed total supply of 1.07 billion coins, no longer linked to USTC, and its development direction is WEB3, focusing on DEFI. Can it once again earn the title of 'King of Retail Consensus'?
Luna Coin earned the title of 'King of Retail Consensus' primarily due to its rapid rise from 2021 to early 2022, attracting a large number of retail investors.
At that time, the Terra ecosystem, through the mechanism design of the algorithmic stablecoin UST and Luna, along with market promotion and high yields, created a certain market heat. A large number of retail investors entered the market due to their optimism about the 'stablecoin + native token' model, driving the price of Luna Coin to surge significantly in a short period, resulting in a high proportion of retail holdings and forming a strong consensus among retail investors, thus earning the name.
However, this 'consensus' based on short-term market sentiment and speculative psychology quickly collapsed after the project's mechanism crumbled in 2022. It also reflects that the retail-led consensus in the cryptocurrency market often lacks a solid foundation and is easily influenced by market fluctuations and project risks.
Now, a new Luna Coin has been launched, with a fixed total supply of 1.07 billion coins, no longer linked to USTC, and its development direction is WEB3, focusing on DEFI. Can it once again earn the title of 'King of Retail Consensus'?
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