From one perspective, LUNC has already recovered. 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. This is a high-risk forecast which means that there is a high possibility of failure. Home Will LUNA Recover? 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. This is certainly not out of the question if the cryptocurrency market as a whole enters a more bullish phase. 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. 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. 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. Answer (1 of 6): The future of cryptocurrency is still very much up in the air. This could boost the price once specific dates and capabilities are detailed. Therefore, until and unless the newly minted LUNA tokens are not burnt, one cannot expect a recovery. The LUNA price has now lost the lowermost support at $0.29 and continues to plunge below $0.25. Follow the latest news about cryptos in our Telegram channel. The old chain will be called Terra Classic (token: $LUNC), and the new chain will be called Terra (token: $LUNA). In 2024, the price of one Terra is destined to drop to a minimum of $205.62. Still, LUNC is one of the best penny cryptos, even if it doesnt manage to hit the psychological $1 level. Now that the dust has gradually settled, the assets future price remains uncertain. 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. supply is so close to 7 trillion. , the circulating supply of LUNA has steadily increased. Your 750 bil market cap puts it around $0.11 value. Its Terra LUNA price prediction projects that the coin will race above $0.0008 in 2027 to reach $0.006 by 2031. 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. Critics see nothing but risk, while supporters see nothing but boundless promise. Is $1 a pipe dream for $LUNA and $UST?. They couldnt save UST, recovering luna is now a problem. With TerraUSD (UST) losing its peg to the dollar, Terra (LUNA) crashed significantly from last month's high of over $116 to $0.0000009. The tokens of the original platform were rebranded to Luna Classic (LUNC) and TerraClassicUSD (USTC). It has since regained some of its value, though. However, Luna Classic has underperformed both ETH and LUNA 2.0 after the Burn tax was rolled out. ._3Z6MIaeww5ZxzFqWHAEUxa{margin-top:8px}._3Z6MIaeww5ZxzFqWHAEUxa ._3EpRuHW1VpLFcj-lugsvP_{color:inherit}._3Z6MIaeww5ZxzFqWHAEUxa svg._31U86fGhtxsxdGmOUf3KOM{color:inherit;fill:inherit;padding-right:8px}._3Z6MIaeww5ZxzFqWHAEUxa ._2mk9m3mkUAeEGtGQLNCVsJ{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;color:inherit} 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 . Now, the token will continue. Earlier this week, TerraUSD lost its peg and the stablecoin saw its price plunge to $0.30. Terra Luna Classic Price Prediction Can it Reach $1 by 2023? 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 . The cryptocurrency Terra (Luna) is showing no signs of recovery after losing all of its value in last week's dramatic crash. 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. Luna Classic price prediction estimates are a function of various analyst opinions. 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. 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 older LUNA token was rebranded Luna Classic or LUNC and much of the control was handed over to the LUNC community. Major risks: Disintegration of the Community. ._1aTW4bdYQHgSZJe7BF2-XV{display:-ms-grid;display:grid;-ms-grid-columns:auto auto 42px;grid-template-columns:auto auto 42px;column-gap:12px}._3b9utyKN3e_kzVZ5ngPqAu,._21RLQh5PvUhC6vOKoFeHUP{font-size:16px;font-weight:500;line-height:20px}._21RLQh5PvUhC6vOKoFeHUP:before{content:"";margin-right:4px;color:#46d160}._22W-auD0n8kTKDVe0vWuyK,._244EzVTQLL3kMNnB03VmxK{display:inline-block;word-break:break-word}._22W-auD0n8kTKDVe0vWuyK{font-weight:500}._22W-auD0n8kTKDVe0vWuyK,._244EzVTQLL3kMNnB03VmxK{font-size:12px;line-height:16px}._244EzVTQLL3kMNnB03VmxK{font-weight:400;color:var(--newCommunityTheme-metaText)}._2xkErp6B3LSS13jtzdNJzO{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex;margin-top:13px;margin-bottom:2px}._2xkErp6B3LSS13jtzdNJzO ._22W-auD0n8kTKDVe0vWuyK{font-size:12px;font-weight:400;line-height:16px;margin-right:4px;margin-left:4px;color:var(--newCommunityTheme-actionIcon)}._2xkErp6B3LSS13jtzdNJzO .je4sRPuSI6UPjZt_xGz8y{border-radius:4px;box-sizing:border-box;height:21px;width:21px}._2xkErp6B3LSS13jtzdNJzO .je4sRPuSI6UPjZt_xGz8y:nth-child(2),._2xkErp6B3LSS13jtzdNJzO .je4sRPuSI6UPjZt_xGz8y:nth-child(3){margin-left:-9px} A quick 3min read about today's crypto news! The announcements of new burn programs often tend to have a positive impact on price. At its peak, LUNA had a market cap of $41 billion and UST had a market cap of just under $18.7 billion. 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. Woodbois Stock Forecast: Is WBI a Worthy Penny Stock to Buy for Long Term? Please enter your username or email address to reset your password. Many of these are not active on Terra Classic. More investors continue to dump LUNA into the market as TerraForm Labs announces plans to make LUNA investors whole. 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? Retail currently holds billions, if not even trillions of tokens. Lastly, LUNCs worth is also dependent on the number of coins burnt in the future. We typically tend to be pessimistic about Tokens that dont have use cases. There are multiple reasons why Luan 2.0 is gaining on Luna Classic. 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. As of September 2021, it offers stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik, and the International Monetary Funds Special Drawing Rights basket of currencies and it intends to roll out additional options. The chief developers of the platform were Terraform Labs, a company founded by Do Kwon. ._2cHgYGbfV9EZMSThqLt2tx{margin-bottom:16px;border-radius:4px}._3Q7WCNdCi77r0_CKPoDSFY{width:75%;height:24px}._2wgLWvNKnhoJX3DUVT_3F-,._3Q7WCNdCi77r0_CKPoDSFY{background:var(--newCommunityTheme-field);background-size:200%;margin-bottom:16px;border-radius:4px}._2wgLWvNKnhoJX3DUVT_3F-{width:100%;height:46px} LUNAs price might potentially rise to $0.005 again, but present market circumstances make it unlikely to occur soon. However, the intense community engagements make Luna Classic different. Given the current supply, a $1 price for LUNC would mean that the Luna Classic market would be $5.9 trillion. 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. Purpose: Burn programs are often launched to influence token prices to rise quickly or to prevent a rapid fall in Token prices. is around 6.53 trillion, thus prompting many to doubt that the digital currency would touch $1 anytime soon. LUNA is trending low at $0.00018. Both the original Terra network and the LUNA token have been rebranded as "Classic" versions of their respective systems. The news about Terra Classic (LUNC), the new crypto from LUNA, does not stop. ._3bX7W3J0lU78fp7cayvNxx{max-width:208px;text-align:center} 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%. 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DApps are beginning to come on board but at a very slow pace. That could mean further interest rate hikes and a bigger crash. 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. By the end of May, UST was trading at less than $0.03 and a single LUNA token was practically worthless. Just about a month after, the tokens price dropped to well below $1 after the rapid collapse of the Terra ecosystem. RenQ Finance (RENQ) Has More Potential Than Solana (SOL) And Cosmos (ATOM), Crypto Donations Can Now be Made With BONE, Fidelity Set to Launch Dedicated Bitcoin and Crypto Platform, BitCard and Blackhawk Network (BHN) to Offer Bitcoin Gift Cards at Select U.S. Nonetheless, it is essential to consider investor sentiment. However, the excessive focus on Burn and staking is unlikely to help Luna Classic. 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. /*# 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} There isnt much to differentiate itself from other cryptocurrencies either. We all know long-term growth doesn't happen in a day or a month. 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. That's a return of . The risk is high because Terra Classics success is dependent on the Community getting its act together. So for $LUNA to hit 1 goddamn dollar the market cap has to hit 7,500,000,000,000 dollars. 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. Since many individuals have lost hundreds of millions of dollars to the token, faith in it has been diminished. The coin's value tumbled from around $6.75 to less than one cent. This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. The new . The legacy chain is still going on under the name Terra Classic, and the name of its token has been changed to LUNC. At one point, users were earning an APY of about 20% on their UST deposits. Such an implosion has been seen in small-cap. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()). Can someone explain this to me? PSNY Stock Forecast: PSNY To Report Its Q4 This Week, Will the Stock Price Surge? Its currently difficult to imagine a scenario in which LUNC would significantly outperform the rest of the cryptocurrency market. Instead, Terra relied on an algorithmic design that involved the platforms native token, LUNA. There are loads of people who snapped up millions of Luna for a few bucks. However, this is the case, given that the. It is worth noting that the rapid growth of LUNAs circulating supply within the space of two weeks is caused by investors redeeming their staked UST for the asset following the teams recent efforts at TerraForm Labs to make investors whole again. *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%. WLUNA was created to allow LUNA holders to trade, hold, and participate in decentralized finance ("DeFi") apps on Ethereum. 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. With an average daily trading price of $148.02, the LUNA cost can reach a peak of $169.93. In less than two weeks, the number of tokens in circulation has increased from over 300 million to almost 7 trillion. 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.. 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. Is it based on coin possession ? Thanks! Additionally, you might want to watch the video below, which covers the latest LUNC bullish momentum and the reasons behind it. As a way to compensate customers, the Terra Foundation launched a fork called Terra LUNA (2.0) blockchain and Token. Also Read; Luna Coin Crash Will Luna Coin Recover? If the bull run lasts long, it may also spark higher inflation again fairly quickly (Indirectly). And its price per token went from just $0.52 on Aug. 15, 2020, to $19.25 a year later. 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. Development on Terra began in January 2018, and its mainnet officially launched in April 2019. An analyst has spoken about the Luna Classic (LUNC) price prediction. There is enormous potential for the Token to have real-life use cases. Currently, the Terra Classic blockchain has a 0.2% tax on all LUNC token transactions. this is extremely difficult to do because it requires a lot of attention from the public and finance to power the project. Follow us on Twitter @coinmonks and Our other project https://coincodecap.com, Email gaurav@coincodecap.com, Blockchain & Crypto enthusiast | Content creator | Writer. LUNC has outperformed ETH and even LUNA 2.0 since it was launched. 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. 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). 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). window.coinzilla_display=window.coinzilla_display||[];var c_display_preferences={};c_display_preferences.zone="325fe079eb73cc7840";c_display_preferences.width="300";c_display_preferences.height="250";coinzilla_display.push(c_display_preferences). 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. 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. Use case expansion- The original LUNA was a major player in the DeFi space with Billions of Dollars of Total Value Locked. Therefore, these factors can determine LUNCs price in 2023. Given that the whole crypto market capitalisation peaked at $3 trillion, this is now unachievable. 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. The other part of the community decided to stay on the original platform, keeping the algorithmic stablecoins. .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 Coin Crash Will Luna Coin Recover. Terra (LUNA) Circulating Supply Approaching 7 Trillion Puts Coin In Doubt of Reaching $1 Anytime Soon. If you are interested in investing in LUNC but dont know where to start, give our how to invest in crypto guide a read. The liquidity injection by the Peoples Bank of China caused the price increase of Chinese crypto projects. The Securities and Exchange Commission (SEC) maintains its regulatory stance on cryptocurrency. If there is like trillions of Luna coins who own them ? Press question mark to learn the rest of the keyboard shortcuts. US Congressman Proposes Bill to Block Federal Reserve from Creating American CBDC What's Going On? The price or worth of cryptocurrencies including LUNC depends on various macro and micro economic factors such as Use cases, inflation, and liquidity. However, USTs peg to the US dollar came under pressure in May 2022, when the stablecoin price began slipping below its $1 target. If youre wondering if Luna Classic will reach $1, your expectations should be extremely low. Still, LUNC could rise significantly higher by 2030. CoinSpot Referral Code Earn $10 BTC Bonus For A Limited Time! Will Luna Reach 1 Dollar Again? A total of 39,312,542,826 LUNC tokens have been burnt to date, which is around 0.55% of the total token supply. Read on about the Latest Terra Luna Classic Price Prediction 2023, 2025 and 2030. Can the digital currency LUNA reach 1 dollar? Learn how your comment data is processed. It is also used for network fees. 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. These estimates are based on certain assumptions, To read about Terra Rebels plans of action for Luna Classic, click here. Source: TradingView. PayPal Stock Forecast 2023: PYPL 12 Months Price Target Lowered to $100.6. 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. 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. LATEST NEWS: Terra Luna Classic (LUNC) Price Today Reaches $0.0005. There are a variety of burn programs but most eventually involve sending tokens to an address with no known private key. 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. The current market cap of $LUNA is about 1,500,000,000 dollars where as 1 $LUNA is priced at 0.0002 dollars. The current LUNC ecosystem is thin or non-existent. It isnt a great case for investment because there are no solid use cases but strong community and development efforts prevent us from classifying it as a poor case for investment. 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. 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". Your Australian news source for all things cryptocurrency. Luna Classic is now 2.5x larger in Market Cap than Luna 2.0. (the activity undertaken to reach a . If growing at a compounded monthly rate of 10 percent, Luna's coin price . Given that LUNC is in the middle of tech improvements and upgrades, we could classify it as a moderate case for investment. Just about a month after, the token's price dropped to well below $1 after the rapid collapse of the Terra ecosystem. This should drive the price of Luna Classic significantly higher. 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. There is increasing chatter about more collaboration between Terra Luna and Luna 2.0. ._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} In order for that to happen, the Terra Luna Classic blockchain will have to host a variety of apps and improve the lives of consumers and businesses. Simply put, many other blockchains offer practically the same functionality as Terra Classic while not imposing a tax on all transactions. Investors are now unsure if its price can ever recover. For Luna Classic to reach a dollar with the burn method, we would have to burn 99.97% of all LUNC tokens. Is also dependent on the number of coins burnt in the middle of tech improvements and upgrades we. To help Luna Classic ( LUNC ) price Prediction variety of burn programs often. The original platform, keeping the algorithmic stablecoins be pessimistic about tokens that dont have cases... Just $ 0.52 on Aug. 15, 2020, to read about Terra Classic who snapped up of... Than Luna 2.0 but there appear to be pessimistic about tokens that dont have use cases out. Day or a month after, the number of coins burnt in the middle of tech improvements upgrades... Can it reach $ 1 by 2023 collaboration between Terra Luna Classic not active on Terra blockchain! 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