We anticipate 2025-30 to be the golden era for Blockchains while also facing cyclical economic winds. At its peak, LUNA had a market cap of $41 billion and UST had a market cap of just under $18.7 billion. Users rushed to burn their UST to mint LUNA tokens, which resulted in the hyperinflation of LUNA. US Congressman Proposes Bill to Block Federal Reserve from Creating American CBDC What's Going On? Your Australian news source for all things cryptocurrency. LUNA is trending low at $0.00018. ._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} ._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} 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. If you are interested in investing in LUNC but dont know where to start, give our how to invest in crypto guide a read. Also, inflation is expected to remain hot this year. But, in my opinion, the most crucial thin. Can Terra (LUNA) Still Reach $1, As Supply Approaches Near 7 Trillion. The platform had a built-in arbitrage mechanism that could be used to burn stablecoins to mint LUNA, or vice versa. Additionally, you might want to watch the video below, which covers the latest LUNC bullish momentum and the reasons behind it. /*# 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} We anticipate the Luna Classic to drop to zero and the Tamadoge Meme Coin to reach one dollar before they are fully integrated into Terra Luna's economy.. However, this is the case, given that theLUNA tokens price has been recently below $0.0001. Based on our prediction, LUNA could hit $1,000 at some point in 2028. For example, if you held 10 UST, you could burn 10 UST to mint and receive $10 worth of LUNA. 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. 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. A total of 39,312,542,826 LUNC tokens have been burnt to date, which is around 0.55% of the total token supply. 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. 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. In fact, the excellent performance of LUNC until September 2022 was because of a concerted effort by the community to revive the coin. (the activity undertaken to reach a . Follow us on Twitter @coinmonks and Our other project https://coincodecap.com, Email gaurav@coincodecap.com, Blockchain & Crypto enthusiast | Content creator | Writer. One part of the community abandoned the concept of algorithmic stablecoins and launched the Terra 2.0 project. LUNA reached its all-time high on April 6, 2022, at a price of just under $120. Terras stablecoins did not follow the classic reserve-based model, in which an equivalent amount of fiat currency or similar assets (such as treasuries) is held to back every token in circulation. That would be about 6.1493 trillion out of the 6.1510 trillion tokens, and would leave about 1.7 billion remaining. Luna Classic Price Prediction 2023 is $0.000222, Luna Classic Price Prediction 2025 is $0.000483, Luna Classic Price Prediction 2030 is $0.00307, Top 5 Most Read Articles on CrowdwisdomLive. Luna Classic has burnt less than 1% of Tokens in Circulation. Vroom Stock Forecast: Will VRM Stock Rise Above $2? He claims that Terra Luna Classic (LUNC) will never be worth $1. Source: TradingView The supply of the token, which was around 343 million as of May 4, inflated to over 6.5 trillion by May 14. ._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)} Terra Classic is likely to rise to $0.000233 by 2023. The new . The liquidity injection by the Peoples Bank of China caused the price increase of Chinese crypto projects. There are loads of people who snapped up millions of Luna for a few bucks. It is also used for network fees. The chief developers of the platform were Terraform Labs, a company founded by Do Kwon. Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. If Luna is only gaining a compounded 5 percent per month, it will need two years to reach $100 from the current price. Therefore, displaying a huge chance of sliding below $0.1, adding up a zero to its value very soon. Investors are now unsure if its price can ever recover. ._12xlue8dQ1odPw1J81FIGQ{display:inline-block;vertical-align:middle} To determine if LUNA can rebound to $1, we must first examine its circulating supply. Following upgrades like Columbus-5, the supply of LUNA could become highly deflationary in the long run. 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. ._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)} 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. Can someone explain this to me? The Terra (LUNA) coin is an active topic in the current year as the coin has performed extraordinarily well. In April 2021, the total stablecoin supply stood at $75 billion which represented a 91% increase since January 2019. Luna Classic is one of those Tokens. The LUNA price has now lost the lowermost support at $0.29 and continues to plunge below $0.25. Create an account to follow your favorite communities and start taking part in conversations. In May of this year, the Terra Luna ecosystem failed, prompting Terraform labs to reorganize the system. Luna has done more harm to its investor, investing in luna again dont worth it due to some reasons, and luna hitting $1 might not be possible, see reasons in the video below. Dextools The coin's price fell from $116 in April to a fraction of a penny at the time of writing. LUNAs circulating supply has grown from 300 million tokens to nearly seven trillion within the space of fewer than two weeks. While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory . ._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)} So, its hard to argue that LUNC is undervalued at the moment. @keyframes ibDwUVR1CAykturOgqOS5{0%{transform:rotate(0deg)}to{transform:rotate(1turn)}}._3LwT7hgGcSjmJ7ng7drAuq{--sizePx:0;font-size:4px;position:relative;text-indent:-9999em;border-radius:50%;border:4px solid var(--newCommunityTheme-bodyTextAlpha20);border-left-color:var(--newCommunityTheme-body);transform:translateZ(0);animation:ibDwUVR1CAykturOgqOS5 1.1s linear infinite}._3LwT7hgGcSjmJ7ng7drAuq,._3LwT7hgGcSjmJ7ng7drAuq:after{width:var(--sizePx);height:var(--sizePx)}._3LwT7hgGcSjmJ7ng7drAuq:after{border-radius:50%}._3LwT7hgGcSjmJ7ng7drAuq._2qr28EeyPvBWAsPKl-KuWN{margin:0 auto} As a result, the community approved a proposal to slash the tax down to 0.2%. The active community could be the ace up Luna Classics sleeve, as LUNC holders are very active in promoting the coin on social media platforms such as Twitter. Still, LUNC is one of the best penny cryptos, even if it doesnt manage to hit the psychological $1 level. . Both these factors make LUNC a better token if the chips are down. The price or worth of cryptocurrencies including LUNC depends on various macro and micro economic factors such as Use cases, inflation, and liquidity. You're not considering the mint/burn mechanism that got it that low in the first place. If you buy LUNA for 100 dollars today, you will get a total of 50.563 LUNA. So unless we see a very orderly burning of the $LUNA, THIS IS OVER. In the case of Shiba Inu, we estimated that 99.9999% burns as a way to reach 1 dollar. They are on exchanges, currently being traded. Which is larger than the market cap of $BTC. Keep track of your holdings and explore over 10,000 cryptocurrencies. supply is so close to 7 trillion. The announcements of new burn programs often tend to have a positive impact on price. 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? WLUNA was created to allow LUNA holders to trade, hold, and participate in decentralized finance ("DeFi") apps on Ethereum. LUNAs price might potentially rise to $0.005 again, but present market circumstances make it unlikely to occur soon. Please consult a registered investment advisor to guide you on your financial decisions. The legacy chain is still going on under the name Terra Classic, and the name of its token has been changed to LUNC. and airdrop new LUNA tokens to existing holders, as part of efforts to make investors whole. The LUNA token and UST are mutually dependent, as the success of the Terra ecosystem is a function of the adoption of UST as a stablecoin. And its price per token went from just $0.52 on Aug. 15, 2020, to $19.25 a year later. Retailers. The luna team is contemplating what to do to make luna recover but on the other hand, can they recover luna? Can the digital currency LUNA reach 1 dollar? MEXC Review 2023: Fees, Security & More Features. 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. The chain upgrade will commence a few hours after the Launch snapshot. Trillions of new coins were created when the protocol . Meanwhile, the LUNA crypto forecast from PricePrediction.net suggests a resurgence is not likely, and that the cryptocurrency will only have an average $0.0004 price point in 2025. .Rd5g7JmL4Fdk-aZi1-U_V{transition:all .1s linear 0s}._2TMXtA984ePtHXMkOpHNQm{font-size:16px;font-weight:500;line-height:20px;margin-bottom:4px}.CneW1mCG4WJXxJbZl5tzH{border-top:1px solid var(--newRedditTheme-line);margin-top:16px;padding-top:16px}._11ARF4IQO4h3HeKPpPg0xb{transition:all .1s linear 0s;display:none;fill:var(--newCommunityTheme-button);height:16px;width:16px;vertical-align:middle;margin-bottom:2px;margin-left:4px;cursor:pointer}._1I3N-uBrbZH-ywcmCnwv_B:hover ._11ARF4IQO4h3HeKPpPg0xb{display:inline-block}._2IvhQwkgv_7K0Q3R0695Cs{border-radius:4px;border:1px solid var(--newCommunityTheme-line)}._2IvhQwkgv_7K0Q3R0695Cs:focus{outline:none}._1I3N-uBrbZH-ywcmCnwv_B{transition:all .1s linear 0s;border-radius:4px;border:1px solid var(--newCommunityTheme-line)}._1I3N-uBrbZH-ywcmCnwv_B:focus{outline:none}._1I3N-uBrbZH-ywcmCnwv_B.IeceazVNz_gGZfKXub0ak,._1I3N-uBrbZH-ywcmCnwv_B:hover{border:1px solid var(--newCommunityTheme-button)}._35hmSCjPO8OEezK36eUXpk._35hmSCjPO8OEezK36eUXpk._35hmSCjPO8OEezK36eUXpk{margin-top:25px;left:-9px}._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP,._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP:focus-within,._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP:hover{transition:all .1s linear 0s;border:none;padding:8px 8px 0}._25yWxLGH4C6j26OKFx8kD5{display:inline}._2YsVWIEj0doZMxreeY6iDG{font-size:12px;font-weight:400;line-height:16px;color:var(--newCommunityTheme-metaText);display:-ms-flexbox;display:flex;padding:4px 6px}._1hFCAcL4_gkyWN0KM96zgg{color:var(--newCommunityTheme-button);margin-right:8px;margin-left:auto;color:var(--newCommunityTheme-errorText)}._1hFCAcL4_gkyWN0KM96zgg,._1dF0IdghIrnqkJiUxfswxd{font-size:12px;font-weight:700;line-height:16px;cursor:pointer;-ms-flex-item-align:end;align-self:flex-end;-webkit-user-select:none;-ms-user-select:none;user-select:none}._1dF0IdghIrnqkJiUxfswxd{color:var(--newCommunityTheme-button)}._3VGrhUu842I3acqBMCoSAq{font-weight:700;color:#ff4500;text-transform:uppercase;margin-right:4px}._3VGrhUu842I3acqBMCoSAq,.edyFgPHILhf5OLH2vk-tk{font-size:12px;line-height:16px}.edyFgPHILhf5OLH2vk-tk{font-weight:400;-ms-flex-preferred-size:100%;flex-basis:100%;margin-bottom:4px;color:var(--newCommunityTheme-metaText)}._19lMIGqzfTPVY3ssqTiZSX._19lMIGqzfTPVY3ssqTiZSX._19lMIGqzfTPVY3ssqTiZSX{margin-top:6px}._19lMIGqzfTPVY3ssqTiZSX._19lMIGqzfTPVY3ssqTiZSX._19lMIGqzfTPVY3ssqTiZSX._3MAHaXXXXi9Xrmc_oMPTdP{margin-top:4px} In 2024, the price of one Terra is destined to drop to a minimum of $205.62. Do Burn programs have an impact on price? Luna Coin Crash Will Luna Coin Recover. The news about Terra Classic (LUNC), the new crypto from LUNA, does not stop. Is $1 a pipe dream for $LUNA and $UST?. 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. What will Terra Classic be worth in 2025? The newer LUNA 2.0 token retained the original symbol $LUNA. ._3bX7W3J0lU78fp7cayvNxx{max-width:208px;text-align:center} Staking has been live for a number of weeks with millions of coins taken off exchanges by the community. This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. Top ZK Rollup Projects Early 2023: A Curated List, Chinese Coins Gains Double-Digit As $92 Billion Injected Into Market, Stablecoin War Intensified Amid Regulatory Crackdown, LUNA tokens price has been recently below $0.0001, CEO Share Their Thoughts On Terras Tragic Fall, Messari Report: GameFi Adoption Declines 30% Since October 2022, Bank of England Governor Says There Will Be A Flee From Crypto Assets, Best Crypto Youtube Channels For Crypto Enthusiasts 2023, 11 Best Crypto Debit Cards In Australia: A Curated List 2022, Bybit Australia Review 2023: Fees, Security & More Features, CoinSpot Review 2023: Details, Fees & Features, Kucoin Review 2023: Features, Fees & More, Lawyers Flame SEC Chair Over Claims All Crypto Are Securities. Just about a month after, the token's price dropped to well below $1 after the rapid collapse of the Terra ecosystem. If it grew to shibs market cap during the bull run it would have . However, the excessive focus on Burn and staking is unlikely to help Luna Classic. The Author does not own a position in this cryptocurrency. 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. 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. According to forecasting websites, the luna coin price could reach $1000 by the end of 2025. The other part of the community decided to stay on the original platform, keeping the algorithmic stablecoins. Since many individuals have lost hundreds of millions of dollars to the token, faith in it has been diminished. If youre wondering if Luna Classic will reach $1, your expectations should be extremely low. 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. However, the intense community engagements make Luna Classic different. DApps are beginning to come on board but at a very slow pace. Source: TradingView. Following the crash of UST, LUNAs circulating supply has been on a rapid increase since the ugly incident occurred this month. The involvement of the community has gone far beyond burning (like Shiba for example). Email addresses? At one point, users were earning an APY of about 20% on their UST deposits. DraftKings Stock Forecast 2023: Will DKNG Rise Above $30? Top Twitter account The Moon with 1M followers asks a simple question, LUNA supply is so close to 7 trillion. 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. 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. At the time of writing this line, LUNAs circulating. ._1sDtEhccxFpHDn2RUhxmSq{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;display:-ms-flexbox;display:flex;-ms-flex-flow:row nowrap;flex-flow:row nowrap}._1d4NeAxWOiy0JPz7aXRI64{color:var(--newCommunityTheme-metaText)}.icon._3tMM22A0evCEmrIk-8z4zO{margin:-2px 8px 0 0} If there is like trillions of Luna coins who own them ? ._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. LUNA reached its all-time high on April 6, 2022, at a price of just under $120. 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. However, there are some reasons for cautious optimism. By January 15th, 2023, over 37.5 Billion Tokens were Burnt. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. 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. All through 2024, the LUNA cost can reach a high of $252.31 and a low of . , the circulating supply of LUNA has steadily increased. There isnt much to differentiate itself from other cryptocurrencies either. However, the delisting of both the assets from various exchanges may hinder the progress of the plan largely. https://pastebin.com/5RJdvFHFThey are burning at a rate of 2 Billion per hour, as per what this bot states.That is effectively 2950 hours to burn 5.9 Trillion, or 122.9 days. Still, LUNC could rise significantly higher by 2030. Given the current supply, a $1 price for LUNC would mean that the Luna Classic market would be $5.9 trillion. That's around 5.9 trillion coins, leaving about 170 billion left over. 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. ._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} This mechanism requires that for every UST or KRT minted, 1 LUNA must be burn. 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. Microsoft Stock Forecast 2023: Is MSFT a Safe Bet in 2023? Terra Classic is now a community-led coin with very little real-world utility. Both the tokens have complementary strengths that could benefit everybody. .ehsOqYO6dxn_Pf9Dzwu37{margin-top:0;overflow:visible}._2pFdCpgBihIaYh9DSMWBIu{height:24px}._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu{border-radius:2px}._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu:focus,._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu:hover{background-color:var(--newRedditTheme-navIconFaded10);outline:none}._38GxRFSqSC-Z2VLi5Xzkjy{color:var(--newCommunityTheme-actionIcon)}._2DO72U0b_6CUw3msKGrnnT{border-top:none;color:var(--newCommunityTheme-metaText);cursor:pointer;padding:8px 16px 8px 8px;text-transform:none}._2DO72U0b_6CUw3msKGrnnT:hover{background-color:#0079d3;border:none;color:var(--newCommunityTheme-body);fill:var(--newCommunityTheme-body)} If those Luna are already in people's hands, how do they propose burning trillions of tokens? And indeed, just a few hours later, the tongue-in-cheek prediction became reality, and LUNA slipped to $0.8384 in early Wednesday afternoon trading in Europe. What Luna will he burn. Although this is not realistic, when combined with (1), it makes it easier to reach 1 dollar By January 15th, 2023, over 37.5 Billion Tokens were Burnt. With TerraUSD (UST) losing its peg to the dollar, Terra (LUNA) crashed significantly from last month's high of over $116 to $0.0000009. On the flip side, the value of LUNA can also decrease if UST is perceived as unstable. Yes. If the bull run lasts long, it may also spark higher inflation again fairly quickly (Indirectly). There is enormous potential for the Token to have real-life use cases. 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. 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