I believe coins like Luna hinder Bitcoin adoption and signal to individuals not well-versed in crypto that it is too risky. So, who will propel this coin, and for what reason?
In what ways does this coin hinder the adoption of bitcoin? It's a completely unrelated coins. This coin is promoted by the holders of this coin. If there is demand for this coin, there is also supply. And even if it's a scam, but it keeps trading, it doesn't matter that it's a scam. After all, you can also make money on him.
It doesn't just have a supply, it has a huge supply, lol. This is the biggest reason why it's barely going to recover from what the project has gone through. I know that they have created a new coin with a limited supply, but let's be honest, most people are still interested in the older version of the coin which is renamed to LUNC (Luna Classic) because you can clearly see it's being traded more than LUNA and it is just because LUNC is more in demand than LUNA.
However, since LUNC has a huge supply, the demand cannot make it gain much value over time unless they manage to reduce the supply significantly which isn't going to happen any time soon. So, it's useless to hope that the old token is going to get revived now and those holding millions of tokens will become millionaires all of a sudden. It's a dead man's dream.