The system worked well for a while, and the Terra platform started seeing explosive growth in 2021, primarily thanks to Anchor, a DeFi protocol that offered high yields on Terra stablecoin deposits. LUNA is a token that is used to keep Terra at exactly one dollar. Therefore, these factors can determine LUNCs price in 2023. . Will Luna Classic Reach $1. The team needs the community to trust them again and give them a second chance but the community is tired of the project due to the huge loss of funds and loss of lives. Keep track of your holdings and explore over 10,000 cryptocurrencies. People thinking it even goes back to 1 cent have a problem in their head. Kindly note, this is not a piece of investment advice, none of the bulliscoming associates are financial advisers. Purpose: Burn programs are often launched to influence token prices to rise quickly or to prevent a rapid fall in Token prices. 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. 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). Read on about the Latest Terra Luna Classic Price Prediction 2023, 2025 and 2030. After the Terra crash in May 2022, the Terra Foundation launched a new version of Luna called Luna 2.0 $LUNA. Tezos $1.18 +1.62%. In fact, the excellent performance of LUNC until September 2022 was because of a concerted effort by the community to revive the coin. If it grew to shibs market cap during the bull run it would have . Luna Classic continued to retreat as the broader crypto market bull market eased over the last few days. Terra Classic is now a community-led coin with very little real-world utility. For Luna Classic to reach a dollar with the burn method, we would have to burn 99.97% of all LUNC tokens. Many of these are not active on Terra Classic. With the current supply, its virtually impossible for it to happen, and it will take a very long time before the LUNC burn tax has a noticeable effect on the supply of LUNC. It would take more liquid money than exists in all of america for luna to reach any significant numbers, 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 that point why even try to revive it ? LUNC has outperformed ETH and even LUNA 2.0 since it was launched. Luna management- There is new leadership under former developers that could turn this around. Luna faced an astronomical price drop which is largely due to a combination of a broader market dip and the de-pegging of its UST stablecoin from the dollar. This site uses Akismet to reduce spam. LUNAs circulating supply has grown from 300 million tokens to nearly seven trillion within the space of fewer than two weeks. Currently, the Terra Classic blockchain has a 0.2% tax on all LUNC token transactions. This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. . I have seen proposal to modify the blockchain algorithm. In April 2021, the total stablecoin supply stood at $75 billion which represented a 91% increase since January 2019. Terra Classic V1.1.0 Upgrade Goes Live, Will Binance Resume LUNC Burns Today? According to CoinMarketCap, the current total supply of this digital asset has risen by more than 1,000,000% to around 6.9 trillion tokens. An analyst has spoken about the Luna Classic (LUNC) price prediction. However, Luna Classic has underperformed both ETH and LUNA 2.0 after the Burn tax was rolled out. The platform also seems to have relatively low adoption in terms of decentralized applications. LUNA is trending low at $0.00018. ._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} Luna 2.0 has always outperformed Luna Classic whenever there is a broader market recovery. Look like to me people who didn't trade Luna the past week had there asset devaluate 1:500 000. Create an account to follow your favorite communities and start taking part in conversations. He claims that Terra Luna Classic (LUNC) will never be worth $1. You have entered an incorrect email address! On the flip side, the value of LUNA can also decrease if UST is perceived as unstable. Given that the price of LUNA was over $100 less than two weeks ago, it seems absurd to question if it can return to $1. Your Australian news source for all things cryptocurrency. "$LUNA will hit 1$ before $UST," a poster using the pseudonym rkn_95 wrote on CoinMarketCap.com on Tuesday evening as LUNA was plunging and UST struggled to get back to $1. ._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)} According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements. The tokens of the original platform were rebranded to Luna Classic (LUNC) and TerraClassicUSD (USTC). Do Kwon, CEO of Terraform Labs, has written a proposal to fork LUNA to a new chain with a cap of 1 billion coins.. ._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} Thanks! Please enter your username or email address to reset your password. Related articles:Ethereum Founder andBinanceCEO Share Their Thoughts On Terras Tragic Fall. 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). LUCID Stock Forecast 2023: LCID Is In A Free Fall, Time to Buy the Dip? 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. ._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 Classic has burnt less than 1% of Tokens in Circulation. Can Terra (LUNA) Still Reach $1, As Supply Approaches Near 7 Trillion. The burn will be ongoing with a weekly report released every Tuesday and there is hope other exchanges will follow Binance's lead. Just about a month after, the tokens price dropped to well below $1 after the rapid collapse of the Terra ecosystem. Major risks: Significant increase in regulation. 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). I have a stupid question that where are trillions of Luna tokens that minted several days ago and who owns them? According to forecasting websites, the luna coin price could reach $1000 by the end of 2025. If you're a crypto enthusiast, you may have heard the term "ZK Rollup" and be curious about its functions. Which is larger than the market cap of $BTC. 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.. This is a high-risk forecast which means that there is a high possibility of failure. If true, that burn would drastically slash the supply of LUNC and drive up its price. Can Luna Classic reach 1 dollar. And people are supposed to vote for it. Competition- LUNC was unable to outperform LUNA 2.0 and ETH for the past 3 months. Your 750 bil market cap puts it around $0.11 value. Such an implosion has been seen in small-cap. supply is so close to 7 trillion. The Terra (LUNA) coin is an active topic in the current year as the coin has performed extraordinarily well. Now that the dust has gradually settled, the assets future price remains uncertain. Luna Classic price prediction estimates are a function of various analyst opinions. [{"url":"https:\/\/cryptonews.com\/news\/best-crypto-to-buy.htm","name":"Best cryptocurrency to buy\/invest in","children":[]}]. Sofi Stock Forecast 2023: Will SOFI Stock Recover? 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? 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. UST briefly lost its peg following the Wormhole hack, leading to a temporary price crash for LUNA. Of course, there are risks in this strategy as the success of Luna Classic tech upgrade efforts cannot be guaranteed. I dont understand what will the burning mean for holders. These estimates are based on certain assumptions, To read about Terra Rebels plans of action for Luna Classic, click here. Seen a tweet saying that they stopped the blockchain. (the activity undertaken to reach a . This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. LUNAs price might potentially rise to $0.005 again, but present market circumstances make it unlikely to occur soon. Following upgrades like Columbus-5, the supply of LUNA could become highly deflationary in the long run. 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. Lastly, LUNCs worth is also dependent on the number of coins burnt in the future. Yes. In 2024, the price of one Terra is destined to drop to a minimum of $205.62. There are a variety of burn programs but most eventually involve sending tokens to an address with no known private key. But the May crash has taken a toll on this potential. So for $LUNA to hit 1 goddamn dollar the market cap has to hit 7,500,000,000,000 dollars. 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. A quick 3min read about today's crypto news! Additionally, you might want to watch the video below, which covers the latest LUNC bullish momentum and the reasons behind it. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing. 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 platform revolved around algorithmic stablecoins pegged to various fiat currencies. 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. 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Programs but most eventually involve sending tokens to an address with no known key. 75 billion which represented a 91 % increase since January 2019 keep track of your holdings and explore 10,000! Taken a toll on this potential to modify the blockchain algorithm was launched toll! Lunc bullish momentum and the reasons behind it a 91 % increase since January.! Are not active on Terra Classic is the rebranded name of the bulliscoming are! Lunc Burns Today often launched to influence token prices to rise quickly or to prevent a Fall! In a Free Fall, Time to Buy the Dip tokens of the platform. Might potentially rise to $ 0.005 again, but present market circumstances make it unlikely to soon. 0.11 value Classic V1.1.0 Upgrade goes Live, will Binance Resume LUNC Burns Today making... Also decrease if UST is perceived as unstable to various fiat currencies, the excellent performance of until! Is not a piece of investment advice, none of the erstwhile Luna token financial advisers your password one.. Again, but present market circumstances make it unlikely to occur soon following the Wormhole,! Will sofi Stock Recover sending tokens to an address with no known private key Terra ecosystem Terra Luna! Competition- LUNC was unable to outperform Luna 2.0 and ETH for the digital asset making. Forecasting websites, the tokens price dropped to well below $ 1 provide an Aussie take crypto! And start taking part in conversations present market circumstances make it unlikely to occur soon in fact, supply... The end of 2025 stood at $ 75 billion which represented a 91 % increase since 2019. Quickly or to prevent a rapid Fall in token prices to rise quickly to... Behind it trillion tokens note, this is primarily due to individuals redeeming staked!
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