Lunas all-time high market cap was about $41 billion, meaning that the price of LUNC would have to increase by over 40x to match it. While UST was not added to the plan, investors who were badly affected by the dip were left with no choice but to redeem their staked UST for LUNA. Such an implosion has been seen in small-cap. Still, LUNC is one of the best penny cryptos, even if it doesnt manage to hit the psychological $1 level. ._2FKpII1jz0h6xCAw1kQAvS{background-color:#fff;box-shadow:0 0 0 1px rgba(0,0,0,.1),0 2px 3px 0 rgba(0,0,0,.2);transition:left .15s linear;border-radius:57%;width:57%}._2FKpII1jz0h6xCAw1kQAvS:after{content:"";padding-top:100%;display:block}._2e2g485kpErHhJQUiyvvC2{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex;-ms-flex-pack:start;justify-content:flex-start;background-color:var(--newCommunityTheme-navIconFaded10);border:2px solid transparent;border-radius:100px;cursor:pointer;position:relative;width:35px;transition:border-color .15s linear,background-color .15s linear}._2e2g485kpErHhJQUiyvvC2._3kUvbpMbR21zJBboDdBH7D{background-color:var(--newRedditTheme-navIconFaded10)}._2e2g485kpErHhJQUiyvvC2._3kUvbpMbR21zJBboDdBH7D._1L5kUnhRYhUJ4TkMbOTKkI{background-color:var(--newRedditTheme-active)}._2e2g485kpErHhJQUiyvvC2._3kUvbpMbR21zJBboDdBH7D._1L5kUnhRYhUJ4TkMbOTKkI._3clF3xRMqSWmoBQpXv8U5z{background-color:var(--newRedditTheme-buttonAlpha10)}._2e2g485kpErHhJQUiyvvC2._1asGWL2_XadHoBuUlNArOq{border-width:2.25px;height:24px;width:37.5px}._2e2g485kpErHhJQUiyvvC2._1asGWL2_XadHoBuUlNArOq ._2FKpII1jz0h6xCAw1kQAvS{height:19.5px;width:19.5px}._2e2g485kpErHhJQUiyvvC2._1hku5xiXsbqzLmszstPyR3{border-width:3px;height:32px;width:50px}._2e2g485kpErHhJQUiyvvC2._1hku5xiXsbqzLmszstPyR3 ._2FKpII1jz0h6xCAw1kQAvS{height:26px;width:26px}._2e2g485kpErHhJQUiyvvC2._10hZCcuqkss2sf5UbBMCSD{border-width:3.75px;height:40px;width:62.5px}._2e2g485kpErHhJQUiyvvC2._10hZCcuqkss2sf5UbBMCSD ._2FKpII1jz0h6xCAw1kQAvS{height:32.5px;width:32.5px}._2e2g485kpErHhJQUiyvvC2._1fCdbQCDv6tiX242k80-LO{border-width:4.5px;height:48px;width:75px}._2e2g485kpErHhJQUiyvvC2._1fCdbQCDv6tiX242k80-LO ._2FKpII1jz0h6xCAw1kQAvS{height:39px;width:39px}._2e2g485kpErHhJQUiyvvC2._2Jp5Pv4tgpAsTcnUzTsXgO{border-width:5.25px;height:56px;width:87.5px}._2e2g485kpErHhJQUiyvvC2._2Jp5Pv4tgpAsTcnUzTsXgO ._2FKpII1jz0h6xCAw1kQAvS{height:45.5px;width:45.5px}._2e2g485kpErHhJQUiyvvC2._1L5kUnhRYhUJ4TkMbOTKkI{-ms-flex-pack:end;justify-content:flex-end;background-color:var(--newCommunityTheme-active)}._2e2g485kpErHhJQUiyvvC2._3clF3xRMqSWmoBQpXv8U5z{cursor:default}._2e2g485kpErHhJQUiyvvC2._3clF3xRMqSWmoBQpXv8U5z ._2FKpII1jz0h6xCAw1kQAvS{box-shadow:none}._2e2g485kpErHhJQUiyvvC2._1L5kUnhRYhUJ4TkMbOTKkI._3clF3xRMqSWmoBQpXv8U5z{background-color:var(--newCommunityTheme-buttonAlpha10)} The chain upgrade will commence a few hours after the Launch snapshot. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. They are on exchanges, currently being traded. Email addresses? Terra (LUNA) Circulating Supply Approaching 7 Trillion Puts Coin In Doubt of Reaching $1 Anytime Soon. LUNA to USD supply is so close to 7 trillion. To determine if LUNA can rebound to $1, we must first examine its circulating supply. PayPal Stock Forecast 2023: PYPL 12 Months Price Target Lowered to $100.6. This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. and airdrop new LUNA tokens to existing holders, as part of efforts to make investors whole. Keep track of your holdings and explore over 10,000 cryptocurrencies. Luna Classic is now 2.5x larger in Market Cap than Luna 2.0. While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory . Such a massive supply is the reason that the community wants no fork but only LUNA burning. As a way to compensate customers, the Terra Foundation launched a fork called Terra LUNA (2.0) blockchain and Token. While the voracious community has driven incredible gains over the last six months, the possibility of LUNC reaching $1 appears slim without drastic action and change. In fact, the excellent performance of LUNC until September 2022 was because of a concerted effort by the community to revive the coin. Your Australian news source for all things cryptocurrency. Nonetheless, it is essential to consider investor sentiment. $LUNC was launched in May 2022 after the crash of Terra Foundations UST (Stable Coin). The macroeconomics picture is likely to improve in the second half of 2023 and the community may begin to roll out many of the discussions currently underway. Luna Classic has burnt less than 1% of Tokens in Circulation. That would be about 6.1493 trillion out of the 6.1510 trillion tokens, and would leave about 1.7 billion remaining. For context, the market cap of the entire crypto space is currently less than $1 trillion and, effectively, to reach $1 every single cent in every single crypto coin would have to be redirected to LUNC - and then multiplied by more than six. If it grew to shibs market cap during the bull run it would have . In April 2021, the total stablecoin supply stood at $75 billion which represented a 91% increase since January 2019. Microsoft Stock Forecast 2023: Is MSFT a Safe Bet in 2023? Both these factors make LUNC a better token if the chips are down. When the circulating supply of LUNA was around 300 million, its market capitalization was valued between $33 billion and $35 billion based on price fluctuations, which was mostly around $100. The announcements of new burn programs often tend to have a positive impact on price. We all know long-term growth doesn't happen in a day or a month. Terra Classic is now a community-led coin with very little real-world utility. Just about a month after, the tokens price dropped to well below $1 after the rapid collapse of the Terra ecosystem. so it has more potential to reach 1$ than Shiba . Meanwhile, the LUNA crypto forecast from PricePrediction.net suggests a resurgence is not likely, and that the cryptocurrency will only have an average $0.0004 price point in 2025. If you'd bought $1,000 worth of Terra a year ago, it would now be worth around $37,000. Just about a month after, the token's price dropped to well below $1 after the rapid collapse of the Terra ecosystem. Save my name, email, and website in this browser for the next time I comment. Now that the dust has gradually settled, the assets future price remains uncertain. Is $1 a pipe dream for, LUNAs circulating supply has grown from 300 million tokens to nearly seven trillion within the space of fewer than two weeks. Use Cases: Luna Classic has some use cases but there arent too many apps being developed on Terra Classic the blockchain, Top projects (That are active) on Terra Classic include Terra Swap, Metagloria NFT, Eris Protocol, Terra Rebels Moonshot, P2P Lunc Dispute. But, in my opinion, the most crucial thin. On the flip side, the value of LUNA can also decrease if UST is perceived as unstable. /*# sourceMappingURL=https://www.redditstatic.com/desktop2x/chunkCSS/IdCard.ea0ac1df4e6491a16d39_.css.map*/._2JU2WQDzn5pAlpxqChbxr7{height:16px;margin-right:8px;width:16px}._3E45je-29yDjfFqFcLCXyH{margin-top:16px}._13YtS_rCnVZG1ns2xaCalg{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;display:-ms-flexbox;display:flex}._1m5fPZN4q3vKVg9SgU43u2{margin-top:12px}._17A-IdW3j1_fI_pN-8tMV-{display:inline-block;margin-bottom:8px;margin-right:5px}._5MIPBF8A9vXwwXFumpGqY{border-radius:20px;font-size:12px;font-weight:500;letter-spacing:0;line-height:16px;padding:3px 10px;text-transform:none}._5MIPBF8A9vXwwXFumpGqY:focus{outline:unset} Despite its extreme volatility, LUNC remains 7% up in the past seven days at the time of writing and more than 30,000% up from its May low following the de-pegging and collapse of the original Terra Luna coin and UST stablecoin. The system worked well for a while, and the Terra platform started seeing explosive growth in 2021, primarily thanks to Anchor, a DeFi protocol that offered high yields on Terra stablecoin deposits. LUNA reached its all-time high on April 6, 2022, at a price of just under $120. Investors are now unsure if its price can ever recover. I dont understand what will the burning mean for holders. WLUNA was created to allow LUNA holders to trade, hold, and participate in decentralized finance ("DeFi") apps on Ethereum. At press time, LUNA is changing hands at $0.00015, which implies that the cryptocurrency will need to eliminate three zeros before it touches $1. LUNA is trending low at $0.00018. Terra Luna Classic Price Prediction Can it Reach $1 by 2023? The LUNA token and UST are mutually dependent, as the success of the Terra ecosystem is a function of the adoption of UST as a stablecoin. Since a $33 billion market valuation is still possible, it stands to reason that this is within reach. In this article, well examine the reasons behind Terras collapse, examine Luna Classics $1 potential, and use technical data to determine whether Luna Classic can recover. The coin's value tumbled from around $6.75 to less than one cent. ._3oeM4kc-2-4z-A0RTQLg0I{display:-ms-flexbox;display:flex;-ms-flex-pack:justify;justify-content:space-between} The cryptocurrency Terra (Luna) is showing no signs of recovery after losing all of its value in last week's dramatic crash. We anticipate 2025-30 to be the golden era for Blockchains while also facing cyclical economic winds. The platform also seems to have relatively low adoption in terms of decentralized applications. Dextools The coin's price fell from $116 in April to a fraction of a penny at the time of writing. It was also reported that Lithosphere developers Kaj Labs will burn 2.5 trillion LUNC in their new Finesse series of games and have facilitated $50 to $100 million to facilitate the burn. Price Prediction - Can LUNC Reach $1 by 2023? Given that the whole crypto market capitalisation peaked at $3 trillion, this is now unachievable. Retail currently holds billions, if not even trillions of tokens. $LUNC v1.0.5 goes live. That's why the massive burn is pure hopium. The situation took a turn for the worse on May 10, when the UST price slid all the way to $0.77, suggesting that there were serious problems with its design. That could mean further interest rate hikes and a bigger crash. While many believe that the cryptocurrency can return in value above $1, and perhaps return to its glory days, the number of its cryptocurrencies does not support . At the time of writing this line, LUNAs circulating. Its currently difficult to imagine a scenario in which LUNC would significantly outperform the rest of the cryptocurrency market. The luna team is contemplating what to do to make luna recover but on the other hand, can they recover luna? Blockchain-powered Gaming Company, Affyn Adds New Virtual Lands To The NEXUS World Metaverse, Bitcoin Soars Over $25K and MEXC (MX) Hits Intra-Year High. It has since regained some of its value, though. An analyst has spoken about the Luna Classic (LUNC) price prediction. While it was expected that investors would back the new Terra Luna, the reverse happened. Thanks to community efforts and feedback the world's largest exchange, Binance, is now burning all trading fees collected from LUNC trading. The bottom line: So, will Luna Classic Reach $1? Users rushed to burn their UST to mint LUNA tokens, which resulted in the hyperinflation of LUNA. . Earlier this week, TerraUSD lost its peg and the stablecoin saw its price plunge to $0.30. LUNA (the older version) was able to reach the value of $119 in the month of April 2022, signaling that the coin does have potential. Please consult a registered investment advisor to guide you on your financial decisions. To regain its position, it needs to give tough competition to these cryptos this year. Use case expansion- The original LUNA was a major player in the DeFi space with Billions of Dollars of Total Value Locked. But long-term Burn programs (Shib and Luna for example) do not appear to have an impact on price. Given the current supply, a $1 price for LUNC would mean that the Luna Classic market would be $5.9 trillion. CoinCodex is a cryptocurrency data website that tracks 23329 cryptocurrencies trading on 418 exchanges and provides live crypto prices. When UST is fixed it can recover, Dependsif they can get supply right then 1$ can work but the market cap will not increase above its ATH, I see $1 is quite impossible, but have you thought about $10? According to information provided by CoinMarketCap, the total number of tokens now in circulation that belong to the Luna Classic (LUNC). The other part of the community decided to stay on the original platform, keeping the algorithmic stablecoins. Is $1 a pipe dream for $LUNA and $UST?. Can the digital currency LUNA reach 1 dollar? It utilizes a basket of fiat-pegged stablecoins, algorithmically stabilized by its reserve currency LUNA, to facilitate programmable payments and open financial infrastructure development, Press J to jump to the feed. With the community-led effort, will Luna Classic reach $1 once again? More investors continue to dump LUNA into the market as TerraForm Labs announces plans to make LUNA investors whole. Banano has fantastic potential to hit 1 dollar. This mechanism requires that for every UST or KRT minted, 1 LUNA must be burn. If growing at a compounded monthly rate of 10 percent, Luna's coin price . Top ZK Rollup Projects Early 2023: A Curated List, Chinese Coins Gains Double-Digit As $92 Billion Injected Into Market, Stablecoin War Intensified Amid Regulatory Crackdown, LUNA tokens price has been recently below $0.0001, CEO Share Their Thoughts On Terras Tragic Fall, Messari Report: GameFi Adoption Declines 30% Since October 2022, Bank of England Governor Says There Will Be A Flee From Crypto Assets, Best Crypto Youtube Channels For Crypto Enthusiasts 2023, 11 Best Crypto Debit Cards In Australia: A Curated List 2022, Bybit Australia Review 2023: Fees, Security & More Features, CoinSpot Review 2023: Details, Fees & Features, Kucoin Review 2023: Features, Fees & More, Lawyers Flame SEC Chair Over Claims All Crypto Are Securities. Given the current supply, the market capitalization for Luna Classic at $1 would be $5.9 trillion. Nearly 100 immigrants who were rounded up during a 2018 raid at a meat processing plant in Tennessee have reached a $1.17 million settlement against the U.S. government and federal agents, who . With the current supply, its virtually impossible for it to happen, and it will take a very long time before the LUNC burn tax has a noticeable effect on the supply of LUNC. The algorithmic mechanism meant to keep UST at $1 went into overdrive. Yes. For example, if you held 10 UST, you could burn 10 UST to mint and receive $10 worth of LUNA. Competition- LUNC was unable to outperform LUNA 2.0 and ETH for the past 3 months. CoinSpot Referral Code Earn $10 BTC Bonus For A Limited Time! . LUNA reached its all-time high on April 6, 2022, at a price of just under $120. Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. community wants no fork but only LUNA burning, Robinhood Held Meeting with SEC Two Months Before Subpoena, Exodus Wallet Responds to Requests for Shibarium Support, Binance Confirms Support For Terra Classic (LUNC) Upgrade v.1.1.0. The liquidity injection by the Peoples Bank of China caused the price increase of Chinese crypto projects. If youre wondering if Luna Classic will reach $1, your expectations should be extremely low. The LUNC community executed LUNC Burn quite efficiently and is currently in the process of upgrading the tech infrastructure. In May of this year, the Terra Luna ecosystem failed, prompting Terraform labs to reorganize the system. ._1LHxa-yaHJwrPK8kuyv_Y4{width:100%}._1LHxa-yaHJwrPK8kuyv_Y4:hover ._31L3r0EWsU0weoMZvEJcUA{display:none}._1LHxa-yaHJwrPK8kuyv_Y4 ._31L3r0EWsU0weoMZvEJcUA,._1LHxa-yaHJwrPK8kuyv_Y4:hover ._11Zy7Yp4S1ZArNqhUQ0jZW{display:block}._1LHxa-yaHJwrPK8kuyv_Y4 ._11Zy7Yp4S1ZArNqhUQ0jZW{display:none} ._12xlue8dQ1odPw1J81FIGQ{display:inline-block;vertical-align:middle} Currently the total supply of luna is 6.9 trillion, so if luna hits a dollar its market cap is over 5x greater than all of crypto currently. PSNY Stock Forecast: PSNY To Report Its Q4 This Week, Will the Stock Price Surge? Instead, Terra relied on an algorithmic design that involved the platforms native token, LUNA. With a 5-year investment, the revenue is expected to be around +7783.57%. ._2ik4YxCeEmPotQkDrf9tT5{width:100%}._1DR1r7cWVoK2RVj_pKKyPF,._2ik4YxCeEmPotQkDrf9tT5{display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center}._1DR1r7cWVoK2RVj_pKKyPF{-ms-flex-pack:center;justify-content:center;max-width:100%}._1CVe5UNoFFPNZQdcj1E7qb{-ms-flex-negative:0;flex-shrink:0;margin-right:4px}._2UOVKq8AASb4UjcU1wrCil{height:28px;width:28px;margin-top:6px}.FB0XngPKpgt3Ui354TbYQ{display:-ms-flexbox;display:flex;-ms-flex-align:start;align-items:flex-start;-ms-flex-direction:column;flex-direction:column;margin-left:8px;min-width:0}._3tIyrJzJQoNhuwDSYG5PGy{display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center;width:100%}.TIveY2GD5UQpMI7hBO69I{font-size:12px;font-weight:500;line-height:16px;color:var(--newRedditTheme-titleText);white-space:nowrap;overflow:hidden;text-overflow:ellipsis}.e9ybGKB-qvCqbOOAHfFpF{display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center;width:100%;max-width:100%;margin-top:2px}.y3jF8D--GYQUXbjpSOL5.y3jF8D--GYQUXbjpSOL5{font-weight:400;box-sizing:border-box}._28u73JpPTG4y_Vu5Qute7n{margin-left:4px} Also, inflation is expected to remain hot this year. One part of the community abandoned the concept of algorithmic stablecoins and launched the Terra 2.0 project. Follow us on Twitter @coinmonks and Our other project https://coincodecap.com, Email gaurav@coincodecap.com, Blockchain & Crypto enthusiast | Content creator | Writer. But Regulatory headwinds could keep the price rise in check. If Luna Classic can be differentiated from Luna 2.0 and offer value to customers, the price of the token will increase and make it easier to reach $ 1 99% burns. ._38lwnrIpIyqxDfAF1iwhcV{background-color:var(--newCommunityTheme-widgetColors-lineColor);border:none;height:1px;margin:16px 0}._37coyt0h8ryIQubA7RHmUc{margin-top:12px;padding-top:12px}._2XJvPvYIEYtcS4ORsDXwa3,._2Vkdik1Q8k0lBEhhA_lRKE,.icon._2Vkdik1Q8k0lBEhhA_lRKE{border-radius:100%;box-sizing:border-box;-ms-flex:none;flex:none;margin-right:8px}._2Vkdik1Q8k0lBEhhA_lRKE,.icon._2Vkdik1Q8k0lBEhhA_lRKE{background-position:50%;background-repeat:no-repeat;background-size:100%;height:54px;width:54px;font-size:54px;line-height:54px}._2Vkdik1Q8k0lBEhhA_lRKE._1uo2TG25LvAJS3bl-u72J4,.icon._2Vkdik1Q8k0lBEhhA_lRKE._1uo2TG25LvAJS3bl-u72J4{filter:blur()}.eGjjbHtkgFc-SYka3LM3M,.icon.eGjjbHtkgFc-SYka3LM3M{border-radius:100%;box-sizing:border-box;-ms-flex:none;flex:none;margin-right:8px;background-position:50%;background-repeat:no-repeat;background-size:100%;height:36px;width:36px}.eGjjbHtkgFc-SYka3LM3M._1uo2TG25LvAJS3bl-u72J4,.icon.eGjjbHtkgFc-SYka3LM3M._1uo2TG25LvAJS3bl-u72J4{filter:blur()}._3nzVPnRRnrls4DOXO_I0fn{margin:auto 0 auto auto;padding-top:10px;vertical-align:middle}._3nzVPnRRnrls4DOXO_I0fn ._1LAmcxBaaqShJsi8RNT-Vp i{color:unset}._2bWoGvMqVhMWwhp4Pgt4LP{margin:16px 0;font-size:12px;font-weight:400;line-height:16px}.icon.tWeTbHFf02PguTEonwJD0{margin-right:4px;vertical-align:top}._2AbGMsrZJPHrLm9e-oyW1E{width:180px;text-align:center}.icon._1cB7-TWJtfCxXAqqeyVb2q{cursor:pointer;margin-left:6px;height:14px;fill:#dadada;font-size:12px;vertical-align:middle}.hpxKmfWP2ZiwdKaWpefMn{background-color:var(--newCommunityTheme-active);background-size:cover;background-image:var(--newCommunityTheme-banner-backgroundImage);background-position-y:center;background-position-x:center;background-repeat:no-repeat;border-radius:3px 3px 0 0;height:34px;margin:-12px -12px 10px}._20Kb6TX_CdnePoT8iEsls6{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex;margin-bottom:8px}._20Kb6TX_CdnePoT8iEsls6>*{display:inline-block;vertical-align:middle}.t9oUK2WY0d28lhLAh3N5q{margin-top:-23px}._2KqgQ5WzoQRJqjjoznu22o{display:inline-block;-ms-flex-negative:0;flex-shrink:0;position:relative}._2D7eYuDY6cYGtybECmsxvE{-ms-flex:1 1 auto;flex:1 1 auto;overflow:hidden;text-overflow:ellipsis}._2D7eYuDY6cYGtybECmsxvE:hover{text-decoration:underline}._19bCWnxeTjqzBElWZfIlJb{font-size:16px;font-weight:500;line-height:20px;display:inline-block}._2TC7AdkcuxFIFKRO_VWis8{margin-left:10px;margin-top:30px}._2TC7AdkcuxFIFKRO_VWis8._35WVFxUni5zeFkPk7O4iiB{margin-top:35px}._1LAmcxBaaqShJsi8RNT-Vp{padding:0 2px 0 4px;vertical-align:middle}._2BY2-wxSbNFYqAy98jWyTC{margin-top:10px}._3sGbDVmLJd_8OV8Kfl7dVv{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:21px;margin-top:8px;word-wrap:break-word}._1qiHDKK74j6hUNxM0p9ZIp{margin-top:12px}.Jy6FIGP1NvWbVjQZN7FHA,._326PJFFRv8chYfOlaEYmGt,._1eMniuqQCoYf3kOpyx83Jj,._1cDoUuVvel5B1n5wa3K507{-ms-flex-pack:center;justify-content:center;margin-top:12px;width:100%}._1eMniuqQCoYf3kOpyx83Jj{margin-bottom:8px}._2_w8DCFR-DCxgxlP1SGNq5{margin-right:4px;vertical-align:middle}._1aS-wQ7rpbcxKT0d5kjrbh{border-radius:4px;display:inline-block;padding:4px}._2cn386lOe1A_DTmBUA-qSM{border-top:1px solid var(--newCommunityTheme-widgetColors-lineColor);margin-top:10px}._2Zdkj7cQEO3zSGHGK2XnZv{display:inline-block}.wzFxUZxKK8HkWiEhs0tyE{font-size:12px;font-weight:700;line-height:16px;color:var(--newCommunityTheme-button);cursor:pointer;text-align:left;margin-top:2px}._3R24jLERJTaoRbM_vYd9v0._3R24jLERJTaoRbM_vYd9v0._3R24jLERJTaoRbM_vYd9v0{display:none}.yobE-ux_T1smVDcFMMKFv{font-size:16px;font-weight:500;line-height:20px}._1vPW2g721nsu89X6ojahiX{margin-top:12px}._pTJqhLm_UAXS5SZtLPKd{text-transform:none} Luna Classic is one of those Tokens. Simply put, many other blockchains offer practically the same functionality as Terra Classic while not imposing a tax on all transactions. ._1x9diBHPBP-hL1JiwUwJ5J{font-size:14px;font-weight:500;line-height:18px;color:#ff585b;padding-left:3px;padding-right:24px}._2B0OHMLKb9TXNdd9g5Ere-,._1xKxnscCn2PjBiXhorZef4{height:16px;padding-right:4px;vertical-align:top}.icon._1LLqoNXrOsaIkMtOuTBmO5{height:20px;vertical-align:middle;padding-right:8px}.QB2Yrr8uihZVRhvwrKuMS{height:18px;padding-right:8px;vertical-align:top}._3w_KK8BUvCMkCPWZVsZQn0{font-size:14px;font-weight:500;line-height:18px;color:var(--newCommunityTheme-actionIcon)}._3w_KK8BUvCMkCPWZVsZQn0 ._1LLqoNXrOsaIkMtOuTBmO5,._3w_KK8BUvCMkCPWZVsZQn0 ._2B0OHMLKb9TXNdd9g5Ere-,._3w_KK8BUvCMkCPWZVsZQn0 ._1xKxnscCn2PjBiXhorZef4,._3w_KK8BUvCMkCPWZVsZQn0 .QB2Yrr8uihZVRhvwrKuMS{fill:var(--newCommunityTheme-actionIcon)} Therefore, it could be difficult for the Terra and Luna Classic ecosystem to actually become a hub for decentralized finance, NFTs, and other use cases beyond just speculative LUNC holding. But the May crash has taken a toll on this potential. Terra Luna Classic is the rebranded name of the erstwhile LUNA token. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements. I have seen proposal to modify the blockchain algorithm. With an average daily trading price of $148.02, the LUNA cost can reach a peak of $169.93. (the activity undertaken to reach a . Sofi Stock Forecast 2023: Will SOFI Stock Recover? However, the news was met with a mixed reaction by the LUNC community, with one prominent member, LUNCDAO, claiming the press release was "dishonest marketing to get viral engagement". The Terra (LUNA) coin is an active topic in the current year as the coin has performed extraordinarily well. Even though the Luna Foundation Guard deployed their reserves of BTC and other assets to provide additional backing to USTs peg, it wasnt enough to stop USTs downwards spiral. UST briefly lost its peg following the Wormhole hack, leading to a temporary price crash for LUNA. Vroom Stock Forecast: Will VRM Stock Rise Above $2? There isnt much to differentiate itself from other cryptocurrencies either. We anticipate the Luna Classic to drop to zero and the Tamadoge Meme Coin to reach one dollar before they are fully integrated into Terra Luna's economy.. Major risks: Disintegration of the Community. So for $LUNA to hit 1 goddamn dollar the market cap has to hit 7,500,000,000,000 dollars. By reducing the number of Tokens in circulation, the value of the remaining Tokens should rise assuming Market Cap is constant. Luna Classic can be bought on numerous major centralized and decentralized crypto exchanges including Binance, KuCoin, Kraken, Gemini, OKX, Huobi, Gate.io, Bybit, Uniswap, and PancakeSwap. Press question mark to learn the rest of the keyboard shortcuts. The recent Luna Classic community decision to cut down on Minting is helpful and would enable Burn to have a real impact in the long run (1-2 years). Create an account to follow your favorite communities and start taking part in conversations. With TerraUSD (UST) losing its peg to the United States Dollar, Terra (LUNA) has crashed massively from a high of over $125 recorded last month to as low as $0.0000009.. And its price per token went from just $0.52 on Aug. 15, 2020, to $19.25 a year later. The old chain will be called Terra Classic (token: $LUNC), and the new chain will be called Terra (token: $LUNA). Further, LUNC's lack of utility makes it more open to volatility and attractive to speculative traders - pumps are open to being followed by dumps as investors take profits rather than hold as there is little long-term value in the project. A total of 39,312,542,826 LUNC tokens have been burnt to date, which is around 0.55% of the total token supply. He claims that Terra Luna Classic (LUNC) will never be worth $1. However, the project will also have to make progress on a fundamental level if Luna Classic is going to recover towards its former glory. The price or worth of cryptocurrencies including LUNC depends on various macro and micro economic factors such as Use cases, inflation, and liquidity. We typically tend to be pessimistic about Tokens that dont have use cases. Hence, it is hard to conclude whether it will become worthless or not in the coming future. New comments cannot be posted and votes cannot be cast, Terra is a decentralized financial payment network that rebuilds the traditional payment stack on the blockchain. Terra Classic is likely to rise to $0.000233 by 2023. Therefore, displaying a huge chance of sliding below $0.1, adding up a zero to its value very soon. The burn will be ongoing with a weekly report released every Tuesday and there is hope other exchanges will follow Binance's lead. Terras native token, LUNA, is used to stabilize the price of the protocols stable coins. The yields available in the Terra ecosystem drove huge demand. to the United States Dollar, Terra (LUNA) has crashed massively from a high of over $125 recorded last month to as low as $0.0000009. By the end of May, UST was trading at less than $0.03 and a single LUNA token was practically worthless. Macroeconomic- As per the latest report, the CPI index increased to 6.5% in December 2022 and the data also depicts that CPI Index has declined from June 2022 to December 2022. This has a moderate to high chance of success as it is expected that the Global economies will begin to recover in the second half of 2023. Yes, Luna Classic can go back to 1 dollar again if the following conditions are met - Improvement in the macroeconomic environment, No new scams in the cryptocurrency industry, sharp LUNC community focus on building the Luna Classic ecosystem. The Luna coin crash affect the crypto market, the CEO and the entire team wanted to save it stablecoin(UST) and repeg it to USD, they minted and print more luna to save UST, but to no avail. If the bull run lasts long, it may also spark higher inflation again fairly quickly (Indirectly). Retailers. LUNC has outperformed ETH and even LUNA 2.0 since it was launched. People thinking it even goes back to 1 cent have a problem in their head. Therefore, these factors can determine LUNCs price in 2023. By January 15th, 2023, over 37.5 Billion Tokens were Burnt. That is not to say that it will not continue to make investors good gains in the short, medium and long terms, but without a significant slashing of the supply soon, it appears unlikely to see that kind of growth in the next 12 months. However, this is the case, given that the. While it is true that LUNA has been outperforming most Tokens during the current Bull run, it is unlikely that this Bull run will last for a very long time given the macroeconomic dynamics at play. Fact, the revenue is expected to be the golden era for Blockchains while also facing cyclical economic.... That for every UST or KRT minted, 1 LUNA must be.! Coin with very little real-world utility about the LUNA Classic market would be $ 5.9 trillion Reaching 1... Platform also seems to have a positive impact on price to follow your favorite communities and start taking in. Coming future do to make LUNA recover but on the original platform, keeping the algorithmic and... 3 Months around $ 6.75 to less than $ 0.03 and a single LUNA token while it expected... 2.0 and ETH for the next time i comment, at a compounded monthly of. This week, TerraUSD lost its peg following the Wormhole hack, leading to a temporary crash... $ 0.000233 by 2023 Puts coin in Doubt of Reaching $ 1 after the crash of Terra UST! Also decrease if UST is perceived as unstable differentiate itself from other cryptocurrencies either the new Terra LUNA price... The number of tokens in circulation on price token, LUNA LUNC ) price Prediction Foundations. Typically tend to have an impact on price deeper into the market capitalization for LUNA Classic price Prediction - LUNC! 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Burning all trading fees collected from LUNC trading receive $ 10 BTC Bonus for a Limited time number tokens... Valuation is still possible, it needs to give tough competition to these cryptos year...

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