If it grew to shibs market cap during the bull run it would have . And its price per token went from just $0.52 on Aug. 15, 2020, to $19.25 a year later. The coin - often referred to as Terra Luna Classic - is down 4% over 24hrs but remained in the top 10 by trading volume in the same time period with $440 million of LUNC traded. Banano has fantastic potential to hit 1 dollar. One part of the community abandoned the concept of algorithmic stablecoins and launched the Terra 2.0 project. Luna coin has been gaining a lot of traction due to its crash and a lot of investors still believe it will recover, while some have lost hope in the luna coin. Luna Classic price prediction estimates are a function of various analyst opinions. As a result, the community approved a proposal to slash the tax down to 0.2%. Tokenizing the Titanic: New Partnership Brings Real Artifacts from Wreckage to NFT Market. Luna Classic is now 2.5x larger in Market Cap than Luna 2.0. Many of these are not active on Terra Classic. Both these factors make LUNC a better token if the chips are down. Bitcoin Price and Ethereum Prediction: Can BTC Continue to Soar Above $24,000 and What's Next for ETH? And Luna is used to absorb stablecoin price volatility. However, the excessive focus on Burn and staking is unlikely to help Luna Classic. Read on about the Latest Terra Luna Classic Price Prediction 2023, 2025 and 2030. 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. Terra Classic V1.1.0 Upgrade Goes Live, Will Binance Resume LUNC Burns Today? ._1QwShihKKlyRXyQSlqYaWW{height:16px;width:16px;vertical-align:bottom}._2X6EB3ZhEeXCh1eIVA64XM{margin-left:3px}._1jNPl3YUk6zbpLWdjaJT1r{font-size:12px;font-weight:500;line-height:16px;border-radius:2px;display:inline-block;margin-right:5px;overflow:hidden;text-overflow:ellipsis;vertical-align:text-bottom;white-space:pre;word-break:normal;padding:0 4px}._1jNPl3YUk6zbpLWdjaJT1r._39BEcWjOlYi1QGcJil6-yl{padding:0}._2hSecp_zkPm_s5ddV2htoj{font-size:12px;font-weight:500;line-height:16px;border-radius:2px;display:inline-block;margin-right:5px;overflow:hidden;text-overflow:ellipsis;vertical-align:text-bottom;white-space:pre;word-break:normal;margin-left:0;padding:0 4px}._2hSecp_zkPm_s5ddV2htoj._39BEcWjOlYi1QGcJil6-yl{padding:0}._1wzhGvvafQFOWAyA157okr{font-size:12px;font-weight:500;line-height:16px;border-radius:2px;margin-right:5px;overflow:hidden;text-overflow:ellipsis;vertical-align:text-bottom;white-space:pre;word-break:normal;box-sizing:border-box;line-height:14px;padding:0 4px}._3BPVpMSn5b1vb1yTQuqCRH,._1wzhGvvafQFOWAyA157okr{display:inline-block;height:16px}._3BPVpMSn5b1vb1yTQuqCRH{background-color:var(--newRedditTheme-body);border-radius:50%;margin-left:5px;text-align:center;width:16px}._2cvySYWkqJfynvXFOpNc5L{height:10px;width:10px}.aJrgrewN9C8x1Fusdx4hh{padding:2px 8px}._1wj6zoMi6hRP5YhJ8nXWXE{font-size:14px;padding:7px 12px}._2VqfzH0dZ9dIl3XWNxs42y{border-radius:20px}._2VqfzH0dZ9dIl3XWNxs42y:hover{opacity:.85}._2VqfzH0dZ9dIl3XWNxs42y:active{transform:scale(.95)} Thanks! A lot of investors as begged to know the price prediction of luna and what it could be in a year from now, will luna reach $1 again? Edit: market cap was editted after a kind redditor showed out my fault, 0.0002 is 2/10000ths of a dollar or 5000x to get to $1 you are off by about 10x. is around 6.53 trillion, thus prompting many to doubt that the digital currency would touch $1 anytime soon. While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory days, its tokenomics does not support this widespread belief. Also, inflation is expected to remain hot this year. Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. The recent proposals passed and implementation gives investors hope that this Token could recover at some point in the future. Instead, Terra relied on an algorithmic design that involved the platforms native token, LUNA. Further, with the Fed likely to pivot, there are likely to be more speculative trades in cryptocurrencies like Terra Luna Classic. With TerraUSD (UST) losing its peg to the dollar, Terra (LUNA) crashed significantly from last month's high of over $116 to $0.0000009. For example, the Luna classic on-chain tax has had no visible impact on price and while Luna classic outperformed Luna before the Tax was implemented, both the tokens are underperforming after the tax was implemented. With the community-led effort, will Luna Classic reach $1 once again? LUNA price equal to 1.978 USD at 2023-02-23. [{"url":"https:\/\/cryptonews.com\/news\/best-crypto-to-buy.htm","name":"Best cryptocurrency to buy\/invest in","children":[]}]. Will Luna Reach 1 Dollar Again? Terra Classic is surprisingly popular and has one of the most active communities in the crypto world. Terra Luna Classic is heavily dependent on the Community to get its act together but needs other investors to move the price higher. .s5ap8yh1b4ZfwxvHizW3f{color:var(--newCommunityTheme-metaText);padding-top:5px}.s5ap8yh1b4ZfwxvHizW3f._19JhaP1slDQqu2XgT3vVS0{color:#ea0027} Awareness and Familiarity: Awareness of Luna Classic is moderate if not high. If growing at a compounded monthly rate of 10 percent, Luna's coin price . Just about a month after, the token's price dropped to well below $1 after the rapid collapse of the Terra ecosystem. Given the current supply, a $1 price for LUNC would mean that the Luna Classic market would be $5.9 trillion. Now, the token will continue. Recall that the Terra team launched a proposal to fork a new chain and airdrop new LUNA tokens to existing holders, as part of efforts to make investors whole. Major risks: Disintegration of the Community. and airdrop new LUNA tokens to existing holders, as part of efforts to make investors whole. Also Read; Luna Coin Crash Will Luna Coin Recover? Purpose: Burn programs are often launched to influence token prices to rise quickly or to prevent a rapid fall in Token prices. LUNA is a token that is used to keep Terra at exactly one dollar. Major risks: Significant increase in regulation. Home Will LUNA Recover? The platform had a built-in arbitrage mechanism that could be used to burn stablecoins to mint LUNA, or vice versa. There is enormous potential for the Token to have real-life use cases. Terra Luna Classic is the rebranded name of the erstwhile LUNA token. The Securities and Exchange Commission (SEC) maintains its regulatory stance on cryptocurrency. .ehsOqYO6dxn_Pf9Dzwu37{margin-top:0;overflow:visible}._2pFdCpgBihIaYh9DSMWBIu{height:24px}._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu{border-radius:2px}._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu:focus,._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu:hover{background-color:var(--newRedditTheme-navIconFaded10);outline:none}._38GxRFSqSC-Z2VLi5Xzkjy{color:var(--newCommunityTheme-actionIcon)}._2DO72U0b_6CUw3msKGrnnT{border-top:none;color:var(--newCommunityTheme-metaText);cursor:pointer;padding:8px 16px 8px 8px;text-transform:none}._2DO72U0b_6CUw3msKGrnnT:hover{background-color:#0079d3;border:none;color:var(--newCommunityTheme-body);fill:var(--newCommunityTheme-body)} Can Luna Recover? There was a time when people asked the same question about Bitcoin, and now it is above $50,000. When UST is fixed it can recover, Dependsif they can get supply right then 1$ can work but the market cap will not increase above its ATH, I see $1 is quite impossible, but have you thought about $10? 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. Do Burn programs have an impact on price? You have entered an incorrect email address! .c_dVyWK3BXRxSN3ULLJ_t{border-radius:4px 4px 0 0;height:34px;left:0;position:absolute;right:0;top:0}._1OQL3FCA9BfgI57ghHHgV3{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex;-ms-flex-pack:start;justify-content:flex-start;margin-top:32px}._1OQL3FCA9BfgI57ghHHgV3 ._33jgwegeMTJ-FJaaHMeOjV{border-radius:9001px;height:32px;width:32px}._1OQL3FCA9BfgI57ghHHgV3 ._1wQQNkVR4qNpQCzA19X4B6{height:16px;margin-left:8px;width:200px}._39IvqNe6cqNVXcMFxFWFxx{display:-ms-flexbox;display:flex;margin:12px 0}._39IvqNe6cqNVXcMFxFWFxx ._29TSdL_ZMpyzfQ_bfdcBSc{-ms-flex:1;flex:1}._39IvqNe6cqNVXcMFxFWFxx .JEV9fXVlt_7DgH-zLepBH{height:18px;width:50px}._39IvqNe6cqNVXcMFxFWFxx ._3YCOmnWpGeRBW_Psd5WMPR{height:12px;margin-top:4px;width:60px}._2iO5zt81CSiYhWRF9WylyN{height:18px;margin-bottom:4px}._2iO5zt81CSiYhWRF9WylyN._2E9u5XvlGwlpnzki78vasG{width:230px}._2iO5zt81CSiYhWRF9WylyN.fDElwzn43eJToKzSCkejE{width:100%}._2iO5zt81CSiYhWRF9WylyN._2kNB7LAYYqYdyS85f8pqfi{width:250px}._2iO5zt81CSiYhWRF9WylyN._1XmngqAPKZO_1lDBwcQrR7{width:120px}._3XbVvl-zJDbcDeEdSgxV4_{border-radius:4px;height:32px;margin-top:16px;width:100%}._2hgXdc8jVQaXYAXvnqEyED{animation:_3XkHjK4wMgxtjzC1TvoXrb 1.5s ease infinite;background:linear-gradient(90deg,var(--newCommunityTheme-field),var(--newCommunityTheme-inactive),var(--newCommunityTheme-field));background-size:200%}._1KWSZXqSM_BLhBzkPyJFGR{background-color:var(--newCommunityTheme-widgetColors-sidebarWidgetBackgroundColor);border-radius:4px;padding:12px;position:relative;width:auto} The risk is high because Terra Classics success is dependent on the Community getting its act together. The Terra Classic community is banking on the tokens new burn tax to reduce the supply of LUNC, which became hyperinflated when the UST stablecoin was drifting further below its $1 peg, leading the system to mint LUNC (which was called LUNA at the time) as holders used the systems built-in mechanism to convert their UST positions to LUNC. ._1sDtEhccxFpHDn2RUhxmSq{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;display:-ms-flexbox;display:flex;-ms-flex-flow:row nowrap;flex-flow:row nowrap}._1d4NeAxWOiy0JPz7aXRI64{color:var(--newCommunityTheme-metaText)}.icon._3tMM22A0evCEmrIk-8z4zO{margin:-2px 8px 0 0} But the May crash has taken a toll on this potential. There is a threat of course and hence the risks of investing in LUNC are perhaps much higher than in other tokens. The news about Terra Classic (LUNC), the new crypto from LUNA, does not stop. supply is so close to 7 trillion. Can the digital currency LUNA reach 1 dollar? In April 2021, the total stablecoin supply stood at $75 billion which represented a 91% increase since January 2019. Suppose LUNA gets to $1 today, that means the market cap of LUNA becomes: MC [$] = Circulating Supply of LUNA @ May 20 [tokens] * Price per LUNA [$/token] . Retailers. Staking has been live for a number of weeks with millions of coins taken off exchanges by the community. There are a variety of burn programs but most eventually involve sending tokens to an address with no known private key. If true, that burn would drastically slash the supply of LUNC and drive up its price. Investors are now unsure if its price can ever recover. Terras stablecoins did not follow the classic reserve-based model, in which an equivalent amount of fiat currency or similar assets (such as treasuries) is held to back every token in circulation. , the circulating supply of LUNA has steadily increased. By the end of May, UST was trading at less than $0.03 and a single LUNA token was practically worthless. https://pastebin.com/5RJdvFHFThey are burning at a rate of 2 Billion per hour, as per what this bot states.That is effectively 2950 hours to burn 5.9 Trillion, or 122.9 days. Since the total crypto market cap was $3 trillion at its very peak, its fair to say LUNC going to $1 is not a reasonable expectation unless the LUNC supply is reduced dramatically. There are multiple reasons why Luan 2.0 is gaining on Luna Classic. Terra Classic is now a community-led coin with very little real-world utility. They couldnt save UST, recovering luna is now a problem. Development on Terra began in January 2018, and its mainnet officially launched in April 2019. 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. The luna team is contemplating what to do to make luna recover but on the other hand, can they recover luna? They are on exchanges, currently being traded. 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. Terra Classic is likely to rise to $0.00050 by 2025. 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. Luna's price chart depicts a historic crash. LATEST NEWS: Terra Luna Classic (LUNC) Price Today Reaches $0.0005. 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. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token. At the time of writing this line, LUNAs circulating supply is around 6.53 trillion, thus prompting many to doubt that the digital currency would touch $1 anytime soon. ._2Gt13AX94UlLxkluAMsZqP{background-position:50%;background-repeat:no-repeat;background-size:contain;position:relative;display:inline-block} 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). The other issue is that many of these Burn programs are not linked to the minting of new tokens and therefore the purpose of reducing the Tokens themselves is not met. Microsoft Stock Forecast 2023: Is MSFT a Safe Bet in 2023? Save my name, email, and website in this browser for the next time I comment. Thus, each significant price increase is accompanied by setbacks that drive the token price back down. SNDL Stock Forecast 2023: Will SNDL Reach $3? While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory . Is it based on coin possession ? If there is like trillions of Luna coins who own them ? LUNA backs UST and is burned when demand for UST rises. However, the intense community engagements make Luna Classic different. The team needs the community to trust them again and give them a second chance but the community is tired of the project due to the huge loss of funds and loss of lives. Keep track of your holdings and explore over 10,000 cryptocurrencies. A lot of investors as begged to know the price prediction of luna and what it could be in a year from now, will luna reach $1 again? Look like to me people who didn't trade Luna the past week had there asset devaluate 1:500 000. There are loads of people who snapped up millions of Luna for a few bucks. $LUNC was launched in May 2022 after the crash of Terra Foundations UST (Stable Coin). UST briefly lost its peg following the Wormhole hack, leading to a temporary price crash for LUNA. @keyframes _1tIZttmhLdrIGrB-6VvZcT{0%{opacity:0}to{opacity:1}}._3uK2I0hi3JFTKnMUFHD2Pd,.HQ2VJViRjokXpRbJzPvvc{--infoTextTooltip-overflow-left:0px;font-size:12px;font-weight:500;line-height:16px;padding:3px 9px;position:absolute;border-radius:4px;margin-top:-6px;background:#000;color:#fff;animation:_1tIZttmhLdrIGrB-6VvZcT .5s step-end;z-index:100;white-space:pre-wrap}._3uK2I0hi3JFTKnMUFHD2Pd:after,.HQ2VJViRjokXpRbJzPvvc:after{content:"";position:absolute;top:100%;left:calc(50% - 4px - var(--infoTextTooltip-overflow-left));width:0;height:0;border-top:3px solid #000;border-left:4px solid transparent;border-right:4px solid transparent}._3uK2I0hi3JFTKnMUFHD2Pd{margin-top:6px}._3uK2I0hi3JFTKnMUFHD2Pd:after{border-bottom:3px solid #000;border-top:none;bottom:100%;top:auto} According to information provided by CoinMarketCap, the total number of tokens now in circulation that belong to the Luna Classic (LUNC). The old chain will be called Terra Classic (token: $LUNC), and the new chain will be called Terra (token: $LUNA). This is a high-risk forecast which means that there is a high possibility of failure. This is meant to gradually reduce the LUNC token supply. Given that the price of LUNA was over $100 less than two weeks ago, it seems absurd to question if it can return to $1. 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. Terra Luna Classic reaching $1 still seems a very long way off and from its current price would mean growth of more than 300,000%. 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 . The current LUNC ecosystem is thin or non-existent. The LUNA price has now lost the lowermost support at $0.29 and continues to plunge below $0.25. To regain its position, it needs to give tough competition to these cryptos this year. 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. LUNA to USD Press question mark to learn the rest of the keyboard shortcuts. Therefore, these factors can determine LUNCs price in 2023. Source: TradingView. But, in my opinion, the most crucial thin. Its Terra LUNA price prediction projects that the coin will race above $0.0008 in 2027 to reach $0.006 by 2031. Its currently difficult to imagine a scenario in which LUNC would significantly outperform the rest of the cryptocurrency market. That is not to recommend not buying Luna 2.0 but there appear to be reasons to hold on to Luna Classic at the moment. You're not considering the mint/burn mechanism that got it that low in the first place. Luna Classic Price Prediction 2023, 2025 and 2030, Top Performing Layer-1 Blockchain, Last 12 Months, A Class action lawsuit against Terra Luna and Do Kwon, the Technical team continues to make progress on Terra Classic Blockchain, Latest Justin Trudeau Approval Rating 2023. Woodbois Stock Forecast: Is WBI a Worthy Penny Stock to Buy for Long Term? MULN Stock Forecast 2023: Can MULN Rise Above $0.30? The cryptocurrency Terra (Luna) is showing no signs of recovery after losing all of its value in last week's dramatic crash. With a 5-year investment, the revenue is expected to be around +7783.57%. PSNY Stock Forecast: PSNY To Report Its Q4 This Week, Will the Stock Price Surge? Kindly note, this is not a piece of investment advice, none of the bulliscoming associates are financial advisers. LUNC Burn Updates The platform revolved around algorithmic stablecoins pegged to various fiat currencies. Luna Classic $0.00016380-1.41%. But Regulatory headwinds could keep the price rise in check. The legacy chain is still going on under the name Terra Classic, and the name of its token has been changed to LUNC. They are all floating out in the shit coin verse, Luna getting to 0.01 Dollar is quite impossible. ._9ZuQyDXhFth1qKJF4KNm8{padding:12px 12px 40px}._2iNJX36LR2tMHx_unzEkVM,._1JmnMJclrTwTPpAip5U_Hm{font-size:16px;font-weight:500;line-height:20px;color:var(--newCommunityTheme-bodyText);margin-bottom:40px;padding-top:4px;text-align:left;margin-right:28px}._2iNJX36LR2tMHx_unzEkVM{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex}._2iNJX36LR2tMHx_unzEkVM ._24r4TaTKqNLBGA3VgswFrN{margin-left:6px}._306gA2lxjCHX44ssikUp3O{margin-bottom:32px}._1Omf6afKRpv3RKNCWjIyJ4{font-size:18px;font-weight:500;line-height:22px;border-bottom:2px solid var(--newCommunityTheme-line);color:var(--newCommunityTheme-bodyText);margin-bottom:8px;padding-bottom:8px}._2Ss7VGMX-UPKt9NhFRtgTz{margin-bottom:24px}._3vWu4F9B4X4Yc-Gm86-FMP{border-bottom:1px solid var(--newCommunityTheme-line);margin-bottom:8px;padding-bottom:2px}._3vWu4F9B4X4Yc-Gm86-FMP:last-of-type{border-bottom-width:0}._2qAEe8HGjtHsuKsHqNCa9u{font-size:14px;font-weight:500;line-height:18px;color:var(--newCommunityTheme-bodyText);padding-bottom:8px;padding-top:8px}.c5RWd-O3CYE-XSLdTyjtI{padding:8px 0}._3whORKuQps-WQpSceAyHuF{font-size:12px;font-weight:400;line-height:16px;color:var(--newCommunityTheme-actionIcon);margin-bottom:8px}._1Qk-ka6_CJz1fU3OUfeznu{margin-bottom:8px}._3ds8Wk2l32hr3hLddQshhG{font-weight:500}._1h0r6vtgOzgWtu-GNBO6Yb,._3ds8Wk2l32hr3hLddQshhG{font-size:12px;line-height:16px;color:var(--newCommunityTheme-actionIcon)}._1h0r6vtgOzgWtu-GNBO6Yb{font-weight:400}.horIoLCod23xkzt7MmTpC{font-size:12px;font-weight:400;line-height:16px;color:#ea0027}._33Iw1wpNZ-uhC05tWsB9xi{margin-top:24px}._2M7LQbQxH40ingJ9h9RslL{font-size:12px;font-weight:400;line-height:16px;color:var(--newCommunityTheme-actionIcon);margin-bottom:8px} As RBF stated in their report, the mechanism works both ways and could boost LUNA's price further as Terra takes over a bigger stablecoin market share. For LUNA to reach $1, the market capitalisation would have to reach $7 trillion, assuming the existing supply remains unchanged. /*# 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} Through a WLUNA partner, 1 LUNA can be exchanged for 1 WLUNA, and vice-versa. So unless we see a very orderly burning of the $LUNA, THIS IS OVER. These estimates are based on certain assumptions, To read about Terra Rebels plans of action for Luna Classic, click here. The newer LUNA 2.0 token retained the original symbol $LUNA. Tezos $1.18 +1.62%. Conversely, you could burn your LUNA tokens to mint and receive an amount of UST tokens equivalent to the US dollar value of the burned tokens. 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. 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.. Trillions of new coins were created when the protocol spiraled out of control and the current supply of LUNC stands at more than 6 trillion (6,000,000,000,000) - a mind-boggling number that currently makes it near-impossible for LUNC to ever reach $1 in its current state. LUCID Stock Forecast 2023: LCID Is In A Free Fall, Time to Buy the Dip? The coin's value tumbled from around $6.75 to less than one cent. $LUNC v1.0.5 goes live. Your 750 bil market cap puts it around $0.11 value Reply Prediction of the 2030 Value of the Terra Luna Classic By 2030, the price of one Terra Luna Class token is projected to reach $0.00372, thanks to the anticipated boom in Blockchain usage between 2025 and 2030. However, there are some reasons for cautious optimism. Retail currently holds billions, if not even trillions of tokens. The involvement of the community has gone far beyond burning (like Shiba for example). Given that LUNC is in the middle of tech improvements and upgrades, we could classify it as a moderate case for investment. Luna Classic has burnt less than 1% of Tokens in Circulation. It is not LUNA, but rather a separate ERC-20 token that's designed to track LUNA's value. It has since regained some of its value, though. 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 chief developers of the platform were Terraform Labs, a company founded by Do Kwon. 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. This is not impossible, but its certainly unlikely, especially on a short time scale. The LUNC community is currently pushing another exchange, KuCoin, to adopt a burn mechanism and asking Coinbase to list the token, given its huge volume. Before we take a closer look at whether Luna is going to recover, lets quickly recap the crash of the Terra ecosystem, which is why Terra Classic and Luna Classic exist in the first place. The Luna Classic Community claims an expanding ecosystem that includes Terra Swap DEX, Luna Punks NFT, Pulsar Finance, Atomic Wallet, Loop, TFM, Hermes Protocol, etc. Users rushed to burn their UST to mint LUNA tokens, which resulted in the hyperinflation of LUNA. If those Luna are already in people's hands, how do they propose burning trillions of tokens? Alphabet (GOOG) Stock Forecast 2023: Will Google Recover Again? This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. And what about a burning option wich Burns 3% of every transaction? The bottom line: So, will Luna Classic Reach $1? If Luna is only gaining a compounded 5 percent per month, it will need two years to reach $100 from the current price. Terra Classic is now a community-led coin with very little real-world utility. However, USTs peg to the US dollar came under pressure in May 2022, when the stablecoin price began slipping below its $1 target. The current market cap of $LUNA is about 1,500,000,000 dollars where as 1 $LUNA is priced at 0.0002 dollars. Sofi Stock Forecast 2023: Will SOFI Stock Recover? With the current supply, its virtually impossible for it to happen, and it will take a very long time before the LUNC burn tax has a noticeable effect on the supply of LUNC. so it has more potential to reach 1$ than Shiba . At the time of writing, the LUNC price prediction on CoinCodex is suggesting that the Luna Classic price will increase to $0.000833 one year from now (February 2024). In less than two weeks, the number of tokens in circulation has increased from over 300 million to almost 7 trillion. Of course, there are risks in this strategy as the success of Luna Classic tech upgrade efforts cannot be guaranteed. While the community has done a great job getting many things in place, it has failed so far in creating the environment that will enable numerous use cases for Terra Luna Classic. The current LUNC burn rate is 450,819,101, which is a decrease from the previous rate. Luna Classic Price Prediction 2023 is $0.000222, Luna Classic Price Prediction 2025 is $0.000483, Luna Classic Price Prediction 2030 is $0.00307, Top 5 Most Read Articles on CrowdwisdomLive. From one perspective, LUNC has already recovered. this article details such information, kindly read along carefully. Even though the tax is much lower now, having a 0.2% tax on all on-chain transactions could be a significant headwind for the actual adoption of the Terra Classic blockchain. 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. We expect Substantial improvement in both coin dynamics and macroeconomics in 2025. But long-term Burn programs (Shib and Luna for example) do not appear to have an impact on price. I dont understand what will the burning mean for holders. In response, the price of LUNA has decreased to reflect the vast quantity of tokens being dumped on the market. LUNA reached its all-time high on April 6, 2022, at a price of just under $120. Let's math it again. $500,000 has been raised in the first 48 hours, Binance, PoS Giant Ingenico Seal In-store Crypto Pay Deal, Terra Luna Classic Price Prediction as LUNC Turns Green Here's Where LUNC is Headed Now. Top Twitter account The Moon with 1M followers asks a simple question, LUNA supply is so close to 7 trillion. To determine if LUNA can rebound to $1, we must first examine its circulating supply. (the activity undertaken to reach a . 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". ._3bX7W3J0lU78fp7cayvNxx{max-width:208px;text-align:center} ._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} , there are loads of people who did n't trade Luna the week... 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Q4 this week, Will Luna coin recover by 2031 MSFT a Safe in... Can BTC Continue to Soar Above $ 24,000 and what 's Next for?. Unlikely to help Luna Classic launched in May 2022 after the crash of Terra Foundations UST ( Stable coin.... Hyperinflation of Luna coins who own them of efforts to make Luna Classic price prediction are... V1.1.0 Upgrade Goes Live, Will Luna Classic reach $ 0.006 by 2031 currently. Platforms native token, Luna prediction projects that the digital currency would touch $ 1 once?. Luncs price in 2023 price volatility Forecast which means that there is a decrease from the previous rate expected... Track of your holdings and explore over 10,000 cryptocurrencies reached its all-time high on April 6, 2022, a! Hold on to Luna Classic price prediction 2023, will luna reach 1 dollar and 2030 is over is expected to remain hot year! Developers of the $ Luna, does not stop act together but needs other investors to move the price in... 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