In fact, the excellent performance of LUNC until September 2022 was because of a concerted effort by the community to revive the coin. 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. *vs OKB, Top Performing Layer-1 Blockchain, Last 12 Months, In the year 2023, Luna Classic has risen +9.0% in the first 54 days of trading, OKB is up 89.0%. 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. 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. The new . Given that LUNC is in the middle of tech improvements and upgrades, we could classify it as a moderate case for investment. 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. 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. The current LUNC ecosystem is thin or non-existent. The coin has a market capitalization of over $1 billion, despite the chains DeFi ecosystem having a TVL of only about $6.5 million as of December 9, 2022. You're not considering the mint/burn mechanism that got it that low in the first place. 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. Final Word: Will Luna Classic Reach The $1 Mark? Since a $33 billion market valuation is still possible, it stands to reason that this is within reach. ._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} Strong Community-The Luna Classic community has proven itself to be extremely resourceful in getting things done over the first 3 months. If the bull run lasts long, it may also spark higher inflation again fairly quickly (Indirectly). supply is so close to 7 trillion. All through 2024, the LUNA cost can reach a high of $252.31 and a low of . They couldnt save UST, recovering luna is now a problem. LUNA price plummets nearly 38% despite a 200% increase in trade volume. 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. Create an account to follow your favorite communities and start taking part in conversations. 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. Seeing a proposal to refund the bottom 99.6% at 10 million dollars. In less than two weeks, the number of tokens in circulation has increased from over 300 million to almost 7 trillion. 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. Both the original Terra network and the LUNA token have been rebranded as "Classic" versions of their respective systems. Terra Classic is surprisingly popular and has one of the most active communities in the crypto world. A total of 39,312,542,826 LUNC tokens have been burnt to date, which is around 0.55% of the total token supply. It's put their token value at 20$ now ? ._2Gt13AX94UlLxkluAMsZqP{background-position:50%;background-repeat:no-repeat;background-size:contain;position:relative;display:inline-block} Following upgrades like Columbus-5, the supply of LUNA could become highly deflationary in the long run. The liquidity injection by the Peoples Bank of China caused the price increase of Chinese crypto projects. 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. .Rd5g7JmL4Fdk-aZi1-U_V{transition:all .1s linear 0s}._2TMXtA984ePtHXMkOpHNQm{font-size:16px;font-weight:500;line-height:20px;margin-bottom:4px}.CneW1mCG4WJXxJbZl5tzH{border-top:1px solid var(--newRedditTheme-line);margin-top:16px;padding-top:16px}._11ARF4IQO4h3HeKPpPg0xb{transition:all .1s linear 0s;display:none;fill:var(--newCommunityTheme-button);height:16px;width:16px;vertical-align:middle;margin-bottom:2px;margin-left:4px;cursor:pointer}._1I3N-uBrbZH-ywcmCnwv_B:hover ._11ARF4IQO4h3HeKPpPg0xb{display:inline-block}._2IvhQwkgv_7K0Q3R0695Cs{border-radius:4px;border:1px solid var(--newCommunityTheme-line)}._2IvhQwkgv_7K0Q3R0695Cs:focus{outline:none}._1I3N-uBrbZH-ywcmCnwv_B{transition:all .1s linear 0s;border-radius:4px;border:1px solid var(--newCommunityTheme-line)}._1I3N-uBrbZH-ywcmCnwv_B:focus{outline:none}._1I3N-uBrbZH-ywcmCnwv_B.IeceazVNz_gGZfKXub0ak,._1I3N-uBrbZH-ywcmCnwv_B:hover{border:1px solid var(--newCommunityTheme-button)}._35hmSCjPO8OEezK36eUXpk._35hmSCjPO8OEezK36eUXpk._35hmSCjPO8OEezK36eUXpk{margin-top:25px;left:-9px}._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP,._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP:focus-within,._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP:hover{transition:all .1s linear 0s;border:none;padding:8px 8px 0}._25yWxLGH4C6j26OKFx8kD5{display:inline}._2YsVWIEj0doZMxreeY6iDG{font-size:12px;font-weight:400;line-height:16px;color:var(--newCommunityTheme-metaText);display:-ms-flexbox;display:flex;padding:4px 6px}._1hFCAcL4_gkyWN0KM96zgg{color:var(--newCommunityTheme-button);margin-right:8px;margin-left:auto;color:var(--newCommunityTheme-errorText)}._1hFCAcL4_gkyWN0KM96zgg,._1dF0IdghIrnqkJiUxfswxd{font-size:12px;font-weight:700;line-height:16px;cursor:pointer;-ms-flex-item-align:end;align-self:flex-end;-webkit-user-select:none;-ms-user-select:none;user-select:none}._1dF0IdghIrnqkJiUxfswxd{color:var(--newCommunityTheme-button)}._3VGrhUu842I3acqBMCoSAq{font-weight:700;color:#ff4500;text-transform:uppercase;margin-right:4px}._3VGrhUu842I3acqBMCoSAq,.edyFgPHILhf5OLH2vk-tk{font-size:12px;line-height:16px}.edyFgPHILhf5OLH2vk-tk{font-weight:400;-ms-flex-preferred-size:100%;flex-basis:100%;margin-bottom:4px;color:var(--newCommunityTheme-metaText)}._19lMIGqzfTPVY3ssqTiZSX._19lMIGqzfTPVY3ssqTiZSX._19lMIGqzfTPVY3ssqTiZSX{margin-top:6px}._19lMIGqzfTPVY3ssqTiZSX._19lMIGqzfTPVY3ssqTiZSX._19lMIGqzfTPVY3ssqTiZSX._3MAHaXXXXi9Xrmc_oMPTdP{margin-top:4px} 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 bottom line: So, will Luna Classic Reach $1? UST briefly lost its peg following the Wormhole hack, leading to a temporary price crash for LUNA. On the flip side, the value of LUNA can also decrease if UST is perceived as unstable. Both of these could push LUNC price significantly higher in 2023. They are on exchanges, currently being traded. Luna Coin Crash Will Luna Coin Recover. The Terra (LUNA) coin is an active topic in the current year as the coin has performed extraordinarily well. Since many individuals have lost hundreds of millions of dollars to the token, faith in it has been diminished. 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. You have entered an incorrect email address! 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. Will Luna Reach 1 Dollar Again? Keep track of your holdings and explore over 10,000 cryptocurrencies. Major risks: Disintegration of the Community. LUCID Stock Forecast 2023: LCID Is In A Free Fall, Time to Buy the Dip? These estimates are based on certain assumptions, To read about Terra Rebels plans of action for Luna Classic, click here. Luna Classic has burnt less than 1% of Tokens in Circulation. [{"url":"https:\/\/cryptonews.com\/news\/best-crypto-to-buy.htm","name":"Best cryptocurrency to buy\/invest in","children":[]}]. The tokens of the original platform were rebranded to Luna Classic (LUNC) and TerraClassicUSD (USTC). The recent proposals passed and implementation gives investors hope that this Token could recover at some point in the future. At that point why even try to revive it ? That future is hazy at the moment but efforts on to clear the haziness. Please enter your username or email address to reset your password. 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. The platform revolved around algorithmic stablecoins pegged to various fiat currencies. Vroom Stock Forecast: Will VRM Stock Rise Above $2? 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. 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. 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. One alternative project that offers a lot of real-world utility is IMPT, a new green project that wants to help solve the climate crisis by offsetting users' carbon footprints - $500,000 has been raised in the first 48 hours of the presale. Since theUST stablecoin meltdown, the circulating supply of LUNA has steadily increased. Given the current supply, the market capitalization for Luna Classic at $1 would be $5.9 trillion. Learn how your comment data is processed. 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. A quick 3min read about today's crypto news! However, this is the case, given that theLUNA tokens price has been recently below $0.0001. 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. .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} Luna 2.0 has always outperformed Luna Classic whenever there is a broader market recovery. But, in my opinion, the most crucial thin. Related articles:Ethereum Founder andBinanceCEO Share Their Thoughts On Terras Tragic Fall. That's around 5.9 trillion coins, leaving about 170 billion left over. LUNA backs UST and is burned when demand for UST rises. And Luna is used to absorb stablecoin price volatility. Tezos $1.18 +1.62%. When the supply stayed over 300 million, its price trended toward $100, with its market capitalisation fluctuating around $33 billion. And what about a burning option wich Burns 3% of every transaction? While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory . 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. ._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} Hence, it is hard to conclude whether it will become worthless or not in the coming future. Terra Classic is now a community-led coin with very little real-world utility. Sofi Stock Forecast 2023: Will SOFI Stock Recover? But Regulatory headwinds could keep the price rise in check. So, its hard to argue that LUNC is undervalued at the moment. Most importantly, significant burn in the number of circulating Tokens. If it grew to shibs market cap during the bull run it would have . They are all floating out in the shit coin verse, Luna getting to 0.01 Dollar is quite impossible. Through a WLUNA partner, 1 LUNA can be exchanged for 1 WLUNA, and vice-versa. And its price per token went from just $0.52 on Aug. 15, 2020, to $19.25 a year later. The platform also seems to have relatively low adoption in terms of decentralized applications. Unlike most other altcoins, Luna Classic has its own blockchain, it has a superb community and it has a track record of DeFi (in the Luna avatar). Luna Classic continued to retreat as the broader crypto market bull market eased over the last few days. However, the excessive focus on Burn and staking is unlikely to help Luna Classic. ._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} Terra Classic is likely to rise to $0.000233 by 2023. The current market cap of $LUNA is about 1,500,000,000 dollars where as 1 $LUNA is priced at 0.0002 dollars. Retail currently holds billions, if not even trillions of tokens. Earlier this week, TerraUSD lost its peg and the stablecoin saw its price plunge to $0.30. 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. That's a return of . There is no evidence at the moment that Luna Classic will be worthless. /*# sourceMappingURL=https://www.redditstatic.com/desktop2x/chunkCSS/TopicLinksContainer.3b33fc17a17cec1345d4_.css.map*/0 is the roundest ain't it, Ironic that burning either virtually or irl always leads to a fresh start . Add on investors selling LUNA themselves in the panic, plus liquidations, and the result was LUNA dropping over 99% from its all time high of $119 to under a dollar, then 99% again to one. 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. The other part of the community decided to stay on the original platform, keeping the algorithmic stablecoins. In response, the price of LUNA has decreased to reflect the vast quantity of tokens being dumped on the market. Just about a month after, the token's price dropped to well below $1 after the rapid collapse of the Terra ecosystem. That's why the massive burn is pure hopium. Terra (LUNA) Circulating Supply Approaching 7 Trillion Puts Coin In Doubt of Reaching $1 Anytime Soon. The news about Terra Classic (LUNC), the new crypto from LUNA, does not stop. This could boost the price once specific dates and capabilities are detailed. We anticipate 2025-30 to be the golden era for Blockchains while also facing cyclical economic winds. .LalRrQILNjt65y-p-QlWH{fill:var(--newRedditTheme-actionIcon);height:18px;width:18px}.LalRrQILNjt65y-p-QlWH rect{stroke:var(--newRedditTheme-metaText)}._3J2-xIxxxP9ISzeLWCOUVc{height:18px}.FyLpt0kIWG1bTDWZ8HIL1{margin-top:4px}._2ntJEAiwKXBGvxrJiqxx_2,._1SqBC7PQ5dMOdF0MhPIkA8{vertical-align:middle}._1SqBC7PQ5dMOdF0MhPIkA8{-ms-flex-align:center;align-items:center;display:-ms-inline-flexbox;display:inline-flex;-ms-flex-direction:row;flex-direction:row;-ms-flex-pack:center;justify-content:center} 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. But long-term Burn programs (Shib and Luna for example) do not appear to have an impact on price. This is a high-risk forecast which means that there is a high possibility of failure. Luna Classic is one of those Tokens. Still, LUNC is one of the best penny cryptos, even if it doesnt manage to hit the psychological $1 level. CoinSpot Referral Code Earn $10 BTC Bonus For A Limited Time! According to forecasting websites, the luna coin price could reach $1000 by the end of 2025. 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. More investors continue to dump LUNA into the market as TerraForm Labs announces plans to make LUNA investors whole. People thinking it even goes back to 1 cent have a problem in their head. The risk is high because Terra Classics success is dependent on the Community getting its act together. 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. Save my name, email, and website in this browser for the next time I comment. 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. Awareness and Familiarity: Awareness of Luna Classic is moderate if not high. Terra Classic (LUNC) continues to show extreme volatility in the market on a massive amount of trading volume. As a way to compensate customers, the Terra Foundation launched a fork called Terra LUNA (2.0) blockchain and Token. Luna Classic price prediction estimates are a function of various analyst opinions. With TerraUSD (UST) losing its peg to the dollar, Terra (LUNA) crashed significantly from last month's high of over $116 to $0.0000009. This is not impossible, but its certainly unlikely, especially on a short time scale. Technical analysts believe, LUNC could rise from here on the back of increased Burn, increased staking and technology upgrades, To read about Will Luna Classic reach $1, Click here. The older LUNA token was rebranded Luna Classic or LUNC and much of the control was handed over to the LUNC community. 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. If you're a crypto enthusiast, you may have heard the term "ZK Rollup" and be curious about its functions. Answer (1 of 6): The future of cryptocurrency is still very much up in the air. ._2a172ppKObqWfRHr8eWBKV{-ms-flex-negative:0;flex-shrink:0;margin-right:8px}._39-woRduNuowN7G4JTW4I8{margin-top:12px}._136QdRzXkGKNtSQ-h1fUru{display:-ms-flexbox;display:flex;margin:8px 0;width:100%}.r51dfG6q3N-4exmkjHQg_{font-size:10px;font-weight:700;letter-spacing:.5px;line-height:12px;text-transform:uppercase;-ms-flex-pack:justify;justify-content:space-between;-ms-flex-align:center;align-items:center}.r51dfG6q3N-4exmkjHQg_,._2BnLYNBALzjH6p_ollJ-RF{display:-ms-flexbox;display:flex}._2BnLYNBALzjH6p_ollJ-RF{margin-left:auto}._1-25VxiIsZFVU88qFh-T8p{padding:0}._2nxyf8XcTi2UZsUInEAcPs._2nxyf8XcTi2UZsUInEAcPs{color:var(--newCommunityTheme-widgetColors-sidebarWidgetTextColor)} Now, the token will continue. 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] . Banano has fantastic potential to hit 1 dollar. Can the digital currency LUNA reach 1 dollar? Microsoft Stock Forecast 2023: Is MSFT a Safe Bet in 2023? Can someone explain this to me? If true, that burn would drastically slash the supply of LUNC and drive up its price. 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.. However, the project will also have to make progress on a fundamental level if Luna Classic is going to recover towards its former glory. Your favorite communities and start taking part in conversations to almost 7 trillion Puts coin in Doubt Reaching! Cap during the bull run it would have not considering the mint/burn mechanism that got that! The first place it as a way to compensate customers, the value LUNA. Will sofi Stock recover dependent on the community getting its act together active topic in the crypto world that it. 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