Critics see nothing but risk, while supporters see nothing but boundless promise. ._12xlue8dQ1odPw1J81FIGQ{display:inline-block;vertical-align:middle} 3/ It will effectively create a new Terra chain without the algorithmic stablecoin. 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. ._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)} For example, the UST stablecoin was pegged to the US dollar, the KRT stablecoin was pegged to the Korean won, and so forth. 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 . 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] . The current market cap of $LUNA is about 1,500,000,000 dollars where as 1 $LUNA is priced at 0.0002 dollars. The price or worth of cryptocurrencies including LUNC depends on various macro and micro economic factors such as Use cases, inflation, and liquidity. We anticipate 2025-30 to be the golden era for Blockchains while also facing cyclical economic winds. The coin's value tumbled from around $6.75 to less than one cent. ._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)} LATEST NEWS: Terra Luna Classic (LUNC) Price Today Reaches $0.0005. this article details such information, kindly read along carefully. The bottom line: So, will Luna Classic Reach $1? Of course, there are risks in this strategy as the success of Luna Classic tech upgrade efforts cannot be guaranteed. 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. So, its hard to argue that LUNC is undervalued at the moment. Your 750 bil market cap puts it around $0.11 value Reply Your Australian news source for all things cryptocurrency. Will Luna Reach 1 Dollar Again? Please consult a registered investment advisor to guide you on your financial decisions. Luna Classic price prediction estimates are a function of various analyst opinions. Many of these are not active on Terra Classic. There is increasing chatter about more collaboration between Terra Luna and Luna 2.0. 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. There is no evidence at the moment that Luna Classic will be worthless. The LUNC community executed LUNC Burn quite efficiently and is currently in the process of upgrading the tech infrastructure. 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. Terra Classic is now a community-led coin with very little real-world utility. LUNA price equal to 1.978 USD at 2023-02-23. Luna 2.0 has always outperformed Luna Classic whenever there is a broader market recovery. Luna Classic has burnt less than 1% of Tokens in Circulation. 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. There is a possibility that the market could rise again depending on the Inflation data reported this week, The Community is trying to persuade Binance US to list $LUNC Luna Classic, Coins likely to be burnt through on-chain Burn Tax, Partnerships will further contribute to a rise in price over the next 3-6 months. The Author does not own a position in this cryptocurrency. After the Terra crash in May 2022, the Terra Foundation launched a new version of Luna called Luna 2.0 $LUNA. Is $1 a pipe dream for $LUNA and $UST?. 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. Use case expansion- The original LUNA was a major player in the DeFi space with Billions of Dollars of Total Value Locked. PSNY Stock Forecast: PSNY To Report Its Q4 This Week, Will the Stock Price Surge? Learn how your comment data is processed. We all know long-term growth doesn't happen in a day or a month. It has since regained some of its value, though. 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. Price Prediction - Can LUNC Reach $1 by 2023? That's a return of . Through a WLUNA partner, 1 LUNA can be exchanged for 1 WLUNA, and vice-versa. 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. ._1EPynDYoibfs7nDggdH7Gq{margin-bottom:8px;position:relative}._1EPynDYoibfs7nDggdH7Gq._3-0c12FCnHoLz34dQVveax{max-height:63px;overflow:hidden}._1zPvgKHteTOub9dKkvrOl4{font-family:Noto Sans,Arial,sans-serif;font-size:14px;line-height:21px;font-weight:400;word-wrap:break-word}._1dp4_svQVkkuV143AIEKsf{-ms-flex-align:baseline;align-items:baseline;background-color:var(--newCommunityTheme-body);bottom:-2px;display:-ms-flexbox;display:flex;-ms-flex-flow:row nowrap;flex-flow:row nowrap;padding-left:2px;position:absolute;right:-8px}._5VBcBVybCfosCzMJlXzC3{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:21px;color:var(--newCommunityTheme-bodyText)}._3YNtuKT-Is6XUBvdluRTyI{position:relative;background-color:0;color:var(--newCommunityTheme-metaText);fill:var(--newCommunityTheme-metaText);border:0;padding:0 8px}._3YNtuKT-Is6XUBvdluRTyI:before{content:"";position:absolute;top:0;left:0;width:100%;height:100%;border-radius:9999px;background:var(--newCommunityTheme-metaText);opacity:0}._3YNtuKT-Is6XUBvdluRTyI:hover:before{opacity:.08}._3YNtuKT-Is6XUBvdluRTyI:focus{outline:none}._3YNtuKT-Is6XUBvdluRTyI:focus:before{opacity:.16}._3YNtuKT-Is6XUBvdluRTyI._2Z_0gYdq8Wr3FulRLZXC3e:before,._3YNtuKT-Is6XUBvdluRTyI:active:before{opacity:.24}._3YNtuKT-Is6XUBvdluRTyI:disabled,._3YNtuKT-Is6XUBvdluRTyI[data-disabled],._3YNtuKT-Is6XUBvdluRTyI[disabled]{cursor:not-allowed;filter:grayscale(1);background:none;color:var(--newCommunityTheme-metaTextAlpha50);fill:var(--newCommunityTheme-metaTextAlpha50)}._2ZTVnRPqdyKo1dA7Q7i4EL{transition:all .1s linear 0s}.k51Bu_pyEfHQF6AAhaKfS{transition:none}._2qi_L6gKnhyJ0ZxPmwbDFK{transition:all .1s linear 0s;display:block;background-color:var(--newCommunityTheme-field);border-radius:4px;padding:8px;margin-bottom:12px;margin-top:8px;border:1px solid var(--newCommunityTheme-canvas);cursor:pointer}._2qi_L6gKnhyJ0ZxPmwbDFK:focus{outline:none}._2qi_L6gKnhyJ0ZxPmwbDFK:hover{border:1px solid var(--newCommunityTheme-button)}._2qi_L6gKnhyJ0ZxPmwbDFK._3GG6tRGPPJiejLqt2AZfh4{transition:none;border:1px solid var(--newCommunityTheme-button)}.IzSmZckfdQu5YP9qCsdWO{cursor:pointer;transition:all .1s linear 0s}.IzSmZckfdQu5YP9qCsdWO ._1EPynDYoibfs7nDggdH7Gq{border:1px solid transparent;border-radius:4px;transition:all .1s linear 0s}.IzSmZckfdQu5YP9qCsdWO:hover ._1EPynDYoibfs7nDggdH7Gq{border:1px solid var(--newCommunityTheme-button);padding:4px}._1YvJWALkJ8iKZxUU53TeNO{font-size:12px;font-weight:700;line-height:16px;color:var(--newCommunityTheme-button)}._3adDzm8E3q64yWtEcs5XU7{display:-ms-flexbox;display:flex}._3adDzm8E3q64yWtEcs5XU7 ._3jyKpErOrdUDMh0RFq5V6f{-ms-flex:100%;flex:100%}._3adDzm8E3q64yWtEcs5XU7 .dqhlvajEe-qyxij0jNsi0{color:var(--newCommunityTheme-button)}._3adDzm8E3q64yWtEcs5XU7 ._12nHw-MGuz_r1dQx5YPM2v,._3adDzm8E3q64yWtEcs5XU7 .dqhlvajEe-qyxij0jNsi0{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}._3adDzm8E3q64yWtEcs5XU7 ._12nHw-MGuz_r1dQx5YPM2v{color:var(--newCommunityTheme-button);margin-right:8px;color:var(--newCommunityTheme-errorText)}._3zTJ9t4vNwm1NrIaZ35NS6{font-family:Noto Sans,Arial,sans-serif;font-size:14px;line-height:21px;font-weight:400;word-wrap:break-word;width:100%;padding:0;border:none;background-color:transparent;resize:none;outline:none;cursor:pointer;color:var(--newRedditTheme-bodyText)}._2JIiUcAdp9rIhjEbIjcuQ-{resize:none;cursor:auto}._2I2LpaEhGCzQ9inJMwliNO,._42Nh7O6pFcqnA6OZd3bOK{display:inline-block;margin-left:4px;vertical-align:middle}._42Nh7O6pFcqnA6OZd3bOK{fill:var(--newCommunityTheme-button);color:var(--newCommunityTheme-button);height:16px;width:16px;margin-bottom:2px} LUNA is trending low at $0.00018. Luna Classic $0.00016380-1.41%. CoinCodex is a cryptocurrency data website that tracks 23329 cryptocurrencies trading on 418 exchanges and provides live crypto prices. 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. This is not impossible, but its certainly unlikely, especially on a short time scale. By the end of May, UST was trading at less than $0.03 and a single LUNA token was practically worthless. More investors continue to dump LUNA into the market as TerraForm Labs announces plans to make LUNA investors whole. While Terra is down, its certainly not outwhether Luna Classic can recover will depend on the success of the burn program, support from the community, and the pace of protocol development. 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. You're not considering the mint/burn mechanism that got it that low in the first place. 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. And what about a burning option wich Burns 3% of every transaction? To regain its position, it needs to give tough competition to these cryptos this year. If there is like trillions of Luna coins who own them ? On the flip side, the value of LUNA can also decrease if UST is perceived as unstable. 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. I have seen proposal to modify the blockchain algorithm. While it was expected that investors would back the new Terra Luna, the reverse happened. The cryptocurrency Terra (Luna) is showing no signs of recovery after losing all of its value in last week's dramatic crash. For example, if you held 10 UST, you could burn 10 UST to mint and receive $10 worth of LUNA. This tax was previously set at 1.2%, but it discouraged on-chain activity too much as the on-chain transaction volume dropped by over 90%. Sofi Stock Forecast 2023: Will SOFI Stock Recover? This is meant to gradually reduce the LUNC token supply. The platform had a built-in arbitrage mechanism that could be used to burn stablecoins to mint LUNA, or vice versa. 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. At its peak, LUNA had a market cap of $41 billion and UST had a market cap of just under $18.7 billion. Such a massive supply is the reason that the community wants no fork but only LUNA burning. So at the moment, we wont rule out Luna Classic and actually, go out and say that Luna Classic does have a future. 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. However, there are some reasons for cautious optimism. Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. 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. LUNA to USD WLUNA was created to allow LUNA holders to trade, hold, and participate in decentralized finance ("DeFi") apps on Ethereum. LUNA is a token that is used to keep Terra at exactly one dollar. Retailers. 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. MULN Stock Forecast 2023: Can MULN Rise Above $0.30? Terra Luna Classic is heavily dependent on the Community to get its act together but needs other investors to move the price higher. Keep track of your holdings and explore over 10,000 cryptocurrencies. While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory . When UST is fixed it can recover, Dependsif they can get supply right then 1$ can work but the market cap will not increase above its ATH, I see $1 is quite impossible, but have you thought about $10? It is not LUNA, but rather a separate ERC-20 token that's designed to track LUNA's value. I dont understand what will the burning mean for holders. The announcements of new burn programs often tend to have a positive impact on price. Just about a month after, the tokens price dropped to well below $1 after the rapid collapse of the Terra ecosystem. Do Burn programs have an impact on price? 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. ._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} LUNC Burn Updates If the bull run lasts long, it may also spark higher inflation again fairly quickly (Indirectly). Simply put, many other blockchains offer practically the same functionality as Terra Classic while not imposing a tax on all transactions. ._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} Luna's price chart depicts a historic crash. I thought that was forbidden to avoid forks to append. Staking has been live for a number of weeks with millions of coins taken off exchanges by the community. From one perspective, LUNC has already recovered. /*# 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} People thinking it even goes back to 1 cent have a problem in their head. ._2Gt13AX94UlLxkluAMsZqP{background-position:50%;background-repeat:no-repeat;background-size:contain;position:relative;display:inline-block} Vroom Stock Forecast: Will VRM Stock Rise Above $2? CoinSpot Referral Code Earn $10 BTC Bonus For A Limited Time! 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. 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. Terra Luna Classic is the rebranded name of the erstwhile LUNA token. 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. Yes. $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. 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. Trillions of new coins were created when the protocol . The burn will be ongoing with a weekly report released every Tuesday and there is hope other exchanges will follow Binance's lead. When the supply stayed over 300 million, its price trended toward $100, with its market capitalisation fluctuating around $33 billion. If you're a crypto enthusiast, you may have heard the term "ZK Rollup" and be curious about its functions. The current LUNC ecosystem is thin or non-existent. The recent proposals passed and implementation gives investors hope that this Token could recover at some point in the future. Both the tokens have complementary strengths that could benefit everybody. Terras native token, LUNA, is used to stabilize the price of the protocols stable coins. Based on our prediction, LUNA could hit $1,000 at some point in 2028. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()). . At the time of writing this line, LUNAs circulating. Lastly, LUNCs worth is also dependent on the number of coins burnt in the future. As a result, the community approved a proposal to slash the tax down to 0.2%. We typically tend to be pessimistic about Tokens that dont have use cases. Join Coinmonks Telegram Channel and Youtube Channel learn about crypto trading and investing, Coinmonks (http://coinmonks.io/) is a non-profit Crypto Educational Publication. However, the excessive focus on Burn and staking is unlikely to help Luna Classic. There is enormous potential for the Token to have real-life use cases. LUNAs price might potentially rise to $0.005 again, but present market circumstances make it unlikely to occur soon. Top Twitter account The Moon with 1M followers asks a simple question, LUNA supply is so close to 7 trillion. Such an implosion has been seen in small-cap. At one point, users were earning an APY of about 20% on their UST deposits. Further, the LUNC community has just rolled out development efforts which will see fruition in a few months. Updated Mar 1, 2023 at 4:48 p.m. UTC Puerto Rico is seen as a tax haven for crypto. Will Luna Classic Reach $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. Terra Luna Classic Price Prediction Can it Reach $1 by 2023? .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} Microsoft Stock Forecast 2023: Is MSFT a Safe Bet in 2023? 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. Press question mark to learn the rest of the keyboard shortcuts. The LUNA price has now lost the lowermost support at $0.29 and continues to plunge below $0.25. Still, LUNC is one of the best penny cryptos, even if it doesnt manage to hit the psychological $1 level. Luna Classic is now 2.5x larger in Market Cap than Luna 2.0. LUNA price plummets nearly 38% despite a 200% increase in trade volume. Major risks: Significant increase in regulation. . Seeing a proposal to refund the bottom 99.6% at 10 million dollars. 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. 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. One part of the community abandoned the concept of algorithmic stablecoins and launched the Terra 2.0 project. As a way to compensate customers, the Terra Foundation launched a fork called Terra LUNA (2.0) blockchain and Token. 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. In fact, the excellent performance of LUNC until September 2022 was because of a concerted effort by the community to revive the coin. 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). Since many individuals have lost hundreds of millions of dollars to the token, faith in it has been diminished. 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