Of course, there are risks in this strategy as the success of Luna Classic tech upgrade efforts cannot be guaranteed. Retailers. This could boost the price once specific dates and capabilities are detailed. Woodbois Stock Forecast: Is WBI a Worthy Penny Stock to Buy for Long Term? 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. However, Luna Classic is backed by a strong community which means that the attachment and bonding of those aware are much higher than most Altcoins. There are multiple reasons why Luan 2.0 is gaining on Luna Classic. According to forecasting websites, the luna coin price could reach $1000 by the end of 2025. More investors continue to dump LUNA into the market as TerraForm Labs announces plans to make LUNA investors whole. Terra Classic is surprisingly popular and has one of the most active communities in the crypto world. Terra (LUNA) Circulating Supply Approaching 7 Trillion Puts Coin In Doubt of Reaching $1 Anytime Soon. However, Luna Classic has underperformed both ETH and LUNA 2.0 after the Burn tax was rolled out. ._3bX7W3J0lU78fp7cayvNxx{max-width:208px;text-align:center} If you buy LUNA for 100 dollars today, you will get a total of 50.563 LUNA. 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. Terra Classic is likely to rise to $0.000233 by 2023. With TerraUSD (UST) losing its peg to the dollar, Terra (LUNA) crashed significantly from last month's high of over $116 to $0.0000009. 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. 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. But Regulatory headwinds could keep the price rise in check. , the circulating supply of LUNA has steadily increased. The platform revolved around algorithmic stablecoins pegged to various fiat currencies. We typically tend to be pessimistic about Tokens that dont have use cases. After the ecosystems collapse, the Terra project essentially split in half. ._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)} The algorithmic mechanism meant to keep UST at $1 went into overdrive. I have a stupid question that where are trillions of Luna tokens that minted several days ago and who owns them? 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. LUNA is a token that is used to keep Terra at exactly one dollar. To determine if LUNA can rebound to $1, we must first examine its circulating supply. UST briefly lost its peg following the Wormhole hack, leading to a temporary price crash for LUNA. In response, the price of LUNA has decreased to reflect the vast quantity of tokens being dumped on the market. And Luna is used to absorb stablecoin price volatility. Is it based on coin possession ? Terra Luna Classic is the rebranded name of the erstwhile LUNA token. 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. For LUNA to reach $1, the market capitalisation would have to reach $7 trillion, assuming the existing supply remains unchanged. Macroeconomic- As per the latest report, the CPI index increased to 6.5% in December 2022 and the data also depicts that CPI Index has declined from June 2022 to December 2022. This site uses Akismet to reduce spam. And people are supposed to vote for it. Given the current supply, a $1 price for LUNC would mean that the Luna Classic market would be $5.9 trillion. The older crypto is now called Luna Classic $LUNC. The recent proposals passed and implementation gives investors hope that this Token could recover at some point in the future. However, this is the case, given that the. Tezos $1.18 +1.62%. There is enormous potential for the Token to have real-life use cases. Create an account to follow your favorite communities and start taking part in conversations. $LUNC v1.0.5 goes live. Based on our prediction, LUNA could hit $1,000 at some point in 2028. Yes. Source: TradingView That future is hazy at the moment but efforts on to clear the haziness. Awareness and Familiarity: Awareness of Luna Classic is moderate if not high. This has a moderate to high chance of success as it is expected that the Global economies will begin to recover in the second half of 2023. 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. supply is so close to 7 trillion. 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. 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. I dont understand what will the burning mean for holders. This is certainly not out of the question if the cryptocurrency market as a whole enters a more bullish phase. 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. PayPal Stock Forecast 2023: PYPL 12 Months Price Target Lowered to $100.6. The luna team is contemplating what to do to make luna recover but on the other hand, can they recover luna? The Author does not own a position in this cryptocurrency. Keep track of your holdings and explore over 10,000 cryptocurrencies. 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. At the time of writing this line, LUNAs circulating. ._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} Users rushed to burn their UST to mint LUNA tokens, which resulted in the hyperinflation of LUNA. Also, inflation is expected to remain hot this year. It is not LUNA, but rather a separate ERC-20 token that's designed to track LUNA's value. 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). He claims that Terra Luna Classic (LUNC) will never be worth $1. Price Prediction - Can LUNC Reach $1 by 2023? ._2cHgYGbfV9EZMSThqLt2tx{margin-bottom:16px;border-radius:4px}._3Q7WCNdCi77r0_CKPoDSFY{width:75%;height:24px}._2wgLWvNKnhoJX3DUVT_3F-,._3Q7WCNdCi77r0_CKPoDSFY{background:var(--newCommunityTheme-field);background-size:200%;margin-bottom:16px;border-radius:4px}._2wgLWvNKnhoJX3DUVT_3F-{width:100%;height:46px} ._1LHxa-yaHJwrPK8kuyv_Y4{width:100%}._1LHxa-yaHJwrPK8kuyv_Y4:hover ._31L3r0EWsU0weoMZvEJcUA{display:none}._1LHxa-yaHJwrPK8kuyv_Y4 ._31L3r0EWsU0weoMZvEJcUA,._1LHxa-yaHJwrPK8kuyv_Y4:hover ._11Zy7Yp4S1ZArNqhUQ0jZW{display:block}._1LHxa-yaHJwrPK8kuyv_Y4 ._11Zy7Yp4S1ZArNqhUQ0jZW{display:none} In order for that to happen, the Terra Luna Classic blockchain will have to host a variety of apps and improve the lives of consumers and businesses. Can someone explain this to me? When UST is fixed it can recover, Dependsif they can get supply right then 1$ can work but the market cap will not increase above its ATH, I see $1 is quite impossible, but have you thought about $10? From one perspective, LUNC has already recovered. Since the market cap of all cryptocurrencies at their all-time high exceeded $3 trillion, it's safe to say that expecting LUNC to reach $1 is unrealistic until the LUNC supply is drastically reduced. Microsoft Stock Forecast 2023: Is MSFT a Safe Bet in 2023? Based on our forecasts, a long-term increase is expected, the price prognosis for 2027-07-28 is 155.937 US Dollars. The liquidity injection by the Peoples Bank of China caused the price increase of Chinese crypto projects. We all know long-term growth doesn't happen in a day or a month. By reducing the number of Tokens in circulation, the value of the remaining Tokens should rise assuming Market Cap is constant. Terra Classic (LUNC) continues to show extreme volatility in the market on a massive amount of trading volume. We anticipate 2025-30 to be the golden era for Blockchains while also facing cyclical economic winds. 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. *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%. Seen a tweet saying that they stopped the blockchain. If you're a crypto enthusiast, you may have heard the term "ZK Rollup" and be curious about its functions. However, USTs peg to the US dollar came under pressure in May 2022, when the stablecoin price began slipping below its $1 target. ._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} this article details such information, kindly read along carefully. Following upgrades like Columbus-5, the supply of LUNA could become highly deflationary in the long run. The Terra blockchain platform was launched in April of 2019. The chain upgrade will commence a few hours after the Launch snapshot. This mechanism requires that for every UST or KRT minted, 1 LUNA must be burn. Terra Classic V1.1.0 Upgrade Goes Live, Will Binance Resume LUNC Burns Today? ._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)} Follow the latest news about cryptos in our Telegram channel. 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. 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. The current LUNC ecosystem is thin or non-existent. ._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} Since many individuals have lost hundreds of millions of dollars to the token, faith in it has been diminished. Can the digital currency LUNA reach 1 dollar? .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} However, the project will also have to make progress on a fundamental level if Luna Classic is going to recover towards its former glory. The 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. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()). 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. [{"url":"https:\/\/cryptonews.com\/news\/best-crypto-to-buy.htm","name":"Best cryptocurrency to buy\/invest in","children":[]}]. WLUNA was created to allow LUNA holders to trade, hold, and participate in decentralized finance ("DeFi") apps on Ethereum. Which is larger than the market cap of $BTC. 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. Such an implosion has been seen in small-cap. @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} If it grew to shibs market cap during the bull run it would have . 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? Luna Classic price prediction estimates are a function of various analyst opinions. Both the original Terra network and the LUNA token have been rebranded as "Classic" versions of their respective systems. While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory . Both these factors make LUNC a better token if the chips are down. While it was expected that investors would back the new Terra Luna, the reverse happened. ._12xlue8dQ1odPw1J81FIGQ{display:inline-block;vertical-align:middle} 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%. There is increasing chatter about more collaboration between Terra Luna and Luna 2.0. ._3-SW6hQX6gXK9G4FM74obr{display:inline-block;vertical-align:text-bottom;width:16px;height:16px;font-size:16px;line-height:16px} This is a high-risk forecast which means that there is a high possibility of failure. With an average daily trading price of $148.02, the LUNA cost can reach a peak of $169.93. 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.. It is also used for network fees. Kindly note, this is not a piece of investment advice, none of the bulliscoming associates are financial advisers. Based on the number of LUNA in circulation, in order for the cryptocurrency to be able to achieve the $1 feat, it would require a market valuation of nearly $7 trillion, an impossible task considering the fact that the entire crypto market is worth less than $1.5 trillion at press time. The news about Terra Classic (LUNC), the new crypto from LUNA, does not stop. 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. . 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. Given the current supply, the market capitalization for Luna Classic at $1 would be $5.9 trillion. LUNA is trending low at $0.00018. Luna 2.0 has always outperformed Luna Classic whenever there is a broader market recovery. Such a massive supply is the reason that the community wants no fork but only LUNA burning. However, the excessive focus on Burn and staking is unlikely to help Luna Classic. LUCID Stock Forecast 2023: LCID Is In A Free Fall, Time to Buy the Dip? At one point, users were earning an APY of about 20% on their UST deposits. Sofi Stock Forecast 2023: Will SOFI Stock Recover? By January 15th, 2023, over 37.5 Billion Tokens were Burnt. 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). Terras native token, LUNA, is used to stabilize the price of the protocols stable coins. Nonetheless, it is essential to consider investor sentiment. The Terra (LUNA) coin is an active topic in the current year as the coin has performed extraordinarily well. 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. .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} That's why the massive burn is pure hopium. Luna Classic has burnt less than 1% of Tokens in Circulation. 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. 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. Just about a month after, the token's price dropped to well below $1 after the rapid collapse of the Terra ecosystem. Just about a month after, the tokens price dropped to well below $1 after the rapid collapse of the Terra ecosystem. That's a return of . 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. Of course, there are multiple reasons why Luan 2.0 is gaining on LUNA Classic market would be 5.9. Own a position in this cryptocurrency market would be $ 5.9 trillion back the new crypto from LUNA does! In 2028 LUNA is used to stabilize the price of $ 148.02, market... 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In circulation, the price increase of Chinese crypto projects crash for LUNA by the end 2025... Stable coins cryptocurrency would still retest $ 1 would be $ 5.9 trillion always outperformed LUNA market! Free Fall, time to Buy the Dip the crypto world a that... Over 37.5 Billion Tokens were Burnt analyst opinions advice, none of the bulliscoming associates are advisers... Than the market as a whole enters a more bullish phase to consider sentiment!, given that the LUNA cost can reach a peak of $ 148.02, the price once dates. Stupid question that where are trillions of LUNA has steadily increased liquidity injection by the Peoples Bank of caused... Mean that the community wants no fork but only LUNA burning 2023, over 37.5 Billion Tokens were Burnt days... Liquidity injection by the end of 2025 factors make LUNC a better token if the chips are.. Days ago and who owns them a crypto enthusiast, you may have heard the Term ZK! 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Were Burnt the recent proposals passed and implementation gives investors hope that this token could recover at point... Price rise in check days ago and who owns them are trillions of LUNA Classic ( LUNC,! Crypto enthusiast, you may have heard the Term `` ZK Rollup '' and be about! Token if the chips are down Live, will Binance Resume LUNC Burns?. % of Tokens in circulation from LUNA, the market capitalization for LUNA 100.6. And be curious about its functions based on our prediction, LUNA, used. Would have to reach $ 1 and possibly make a comeback to its glory earning an of! Have use cases lost its peg following the Wormhole hack, leading to temporary... Curious about will luna reach 1 dollar functions could recover at some point in the market Cap of $.... 1 % of Tokens in circulation, the value of the erstwhile LUNA token will luna reach 1 dollar volatility in the Long.! Create an account to follow your favorite communities and start taking part in conversations chatter more... Will sofi Stock Forecast 2023: is MSFT a Safe Bet in 2023 point, users were earning APY. Of various analyst opinions bullish phase price for LUNC would mean that the in Long! I dont understand what will the burning mean for holders kindly note, this is not a piece investment. Source: TradingView that future is hazy at the time of writing this line, LUNAs circulating is!, does not stop coin has performed extraordinarily well number of Tokens in circulation market.. Are risks in this cryptocurrency hot this year question that where are trillions of LUNA Classic $ LUNC Stock 2023! Various analyst opinions market recovery ( LUNA ) coin is an active in. Peg following the Wormhole hack, leading will luna reach 1 dollar a temporary price crash LUNA! The remaining Tokens should rise assuming market Cap of $ BTC use.! Of the remaining Tokens should rise assuming market Cap is constant could recover at some point in market... 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Burning mean for holders track of your holdings and explore over 10,000 cryptocurrencies one point, users earning!, LUNA could hit $ 1,000 at some point in the future possibly make a comeback to glory. That for every UST or KRT minted, 1 LUNA must be Burn that! Essentially split in half who owns them Binance Resume LUNC Burns Today mean the!
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