LUNA to USD Terras native token, LUNA, is used to stabilize the price of the protocols stable coins. 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. Since a $33 billion market valuation is still possible, it stands to reason that this is within reach. .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} One part of the community abandoned the concept of algorithmic stablecoins and launched the Terra 2.0 project. Development on Terra began in January 2018, and its mainnet officially launched in April 2019. They are all floating out in the shit coin verse, Luna getting to 0.01 Dollar is quite impossible. Given that the whole crypto market capitalisation peaked at $3 trillion, this is now unachievable. There is a threat of course and hence the risks of investing in LUNC are perhaps much higher than in other tokens. Based on our forecasts, a long-term increase is expected, the price prognosis for 2027-07-28 is 155.937 US Dollars. In May of this year, the Terra Luna ecosystem failed, prompting Terraform labs to reorganize the system. Microsoft Stock Forecast 2023: Is MSFT a Safe Bet in 2023? Luna Classic has burnt less than 1% of Tokens in Circulation. Synthetix . Seeing a proposal to refund the bottom 99.6% at 10 million dollars. According to information provided by CoinMarketCap, the total number of tokens now in circulation that belong to the Luna Classic (LUNC). While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory days, its tokenomics does not support this widespread belief. Currently the total supply of luna is 6.9 trillion, so if luna hits a dollar its market cap is over 5x greater than all of crypto currently. There are multiple reasons why Luan 2.0 is gaining on Luna Classic. Instead, Terra relied on an algorithmic design that involved the platforms native token, LUNA. But the May crash has taken a toll on this potential. As of September 2021, it offers stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik, and the International Monetary Funds Special Drawing Rights basket of currencies and it intends to roll out additional options. In less than two weeks, the number of tokens in circulation has increased from over 300 million to almost 7 trillion. Luna's price chart depicts a historic crash. Can Luna Classic reach 1 dollar. Top Twitter account The Moon with 1M followers asks a simple question, LUNA supply is so close to 7 trillion. When UST is fixed it can recover, Dependsif they can get supply right then 1$ can work but the market cap will not increase above its ATH, I see $1 is quite impossible, but have you thought about $10? More investors continue to dump LUNA into the market as TerraForm Labs announces plans to make LUNA investors whole. Both the tokens have complementary strengths that could benefit everybody. The new . 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] . That's a return of . The situation took a turn for the worse on May 10, when the UST price slid all the way to $0.77, suggesting that there were serious problems with its design. 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. At its peak, LUNA had a market cap of $41 billion and UST had a market cap of just under $18.7 billion. At one point, users were earning an APY of about 20% on their UST deposits. Investors are now unsure if its price can ever recover. LUNA price plummets nearly 38% despite a 200% increase in trade volume. LUNA reached its all-time high on April 6, 2022, at a price of just under $120. Final Word: Will Luna Classic Reach The $1 Mark? The chain upgrade will commence a few hours after the Launch snapshot. Just about a month after, the tokens price dropped to well below $1 after the rapid collapse of the Terra ecosystem. 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. They couldnt save UST, recovering luna is now a problem. LUNA reached its all-time high on April 6, 2022, at a price of just under $120. /*# 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} 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). 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. The newer LUNA 2.0 token retained the original symbol $LUNA. 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. The LUNA price has now lost the lowermost support at $0.29 and continues to plunge below $0.25. 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. However, this is the case, given that the. CoinCodex is a cryptocurrency data website that tracks 23329 cryptocurrencies trading on 418 exchanges and provides live crypto prices. Luna Classic is one of those Tokens. With the community-led effort, will Luna Classic reach $1 once again? Is $1 Still Possible? 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. LUNA has to trade at $0.005 per token to reach market capitalisation before the crash. 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. Given that LUNC is in the middle of tech improvements and upgrades, we could classify it as a moderate case for investment. Now, the token will continue. When the supply stayed over 300 million, its price trended toward $100, with its market capitalisation fluctuating around $33 billion. The cryptocurrency Terra (Luna) is showing no signs of recovery after losing all of its value in last week's dramatic crash. supply is so close to 7 trillion. ._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} Trillions of new coins were created when the protocol . 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. Tokenizing the Titanic: New Partnership Brings Real Artifacts from Wreckage to NFT Market. Follow the latest news about cryptos in our Telegram channel. Many of these are not active on Terra Classic. The platform revolved around algorithmic stablecoins pegged to various fiat currencies. ._12xlue8dQ1odPw1J81FIGQ{display:inline-block;vertical-align:middle} ._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)} .s5ap8yh1b4ZfwxvHizW3f{color:var(--newCommunityTheme-metaText);padding-top:5px}.s5ap8yh1b4ZfwxvHizW3f._19JhaP1slDQqu2XgT3vVS0{color:#ea0027} Can Luna Recover? is around 6.53 trillion, thus prompting many to doubt that the digital currency would touch $1 anytime soon. Read on about the Latest Terra Luna Classic Price Prediction 2023, 2025 and 2030. Therefore, until and unless the newly minted LUNA tokens are not burnt, one cannot expect a recovery. LUCID Stock Forecast 2023: LCID Is In A Free Fall, Time to Buy the Dip? The current LUNC burn rate is 450,819,101, which is a decrease from the previous rate. The current LUNC ecosystem is thin or non-existent. This should drive the price of Luna Classic significantly higher. If the bull run lasts long, it may also spark higher inflation again fairly quickly (Indirectly). Luna Classic price prediction estimates are a function of various analyst opinions. If you're a crypto enthusiast, you may have heard the term "ZK Rollup" and be curious about its functions. Will Luna Reach 1 Dollar Again? There are loads of people who snapped up millions of Luna for a few bucks. Luna Coin Crash Will Luna Coin Recover. 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. The announcements of new burn programs often tend to have a positive impact on price. ._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} ._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} At the time of writing this line, LUNAs circulating. The platform also seems to have relatively low adoption in terms of decentralized applications. Can Terra (LUNA) Still Reach $1, As Supply Approaches Near 7 Trillion. By January 15th, 2023, over 37.5 Billion Tokens were Burnt. Updated Mar 1, 2023 at 4:48 p.m. UTC Puerto Rico is seen as a tax haven for crypto. Create an account to follow your favorite communities and start taking part in conversations. In 2024, the price of one Terra is destined to drop to a minimum of $205.62. Terra Classic is now a community-led coin with very little real-world utility. Luna Classic can be bought on numerous major centralized and decentralized crypto exchanges including Binance, KuCoin, Kraken, Gemini, OKX, Huobi, Gate.io, Bybit, Uniswap, and PancakeSwap. Related articles:Ethereum Founder andBinanceCEO Share Their Thoughts On Terras Tragic Fall. window.coinzilla_display=window.coinzilla_display||[];var c_display_preferences={};c_display_preferences.zone="325fe079eb73cc7840";c_display_preferences.width="300";c_display_preferences.height="250";coinzilla_display.push(c_display_preferences). Press question mark to learn the rest of the keyboard shortcuts. Banano has fantastic potential to hit 1 dollar. The price or worth of cryptocurrencies including LUNC depends on various macro and micro economic factors such as Use cases, inflation, and liquidity. $LUNC was launched in May 2022 after the crash of Terra Foundations UST (Stable Coin). ._2Gt13AX94UlLxkluAMsZqP{background-position:50%;background-repeat:no-repeat;background-size:contain;position:relative;display:inline-block} Terra Classic is likely to rise to $0.000233 by 2023. Since theUST stablecoin meltdown, the circulating supply of LUNA has steadily increased. Strong Community-The Luna Classic community has proven itself to be extremely resourceful in getting things done over the first 3 months. Therefore, displaying a huge chance of sliding below $0.1, adding up a zero to its value very soon. Home Will LUNA Recover? The other part of the community decided to stay on the original platform, keeping the algorithmic stablecoins. Can the digital currency LUNA reach 1 dollar? 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. On the flip side, the value of LUNA can also decrease if UST is perceived as unstable. An analyst has spoken about the Luna Classic (LUNC) price prediction. ._3-SW6hQX6gXK9G4FM74obr{display:inline-block;vertical-align:text-bottom;width:16px;height:16px;font-size:16px;line-height:16px} The macroeconomics picture is likely to improve in the second half of 2023 and the community may begin to roll out many of the discussions currently underway. That future is hazy at the moment but efforts on to clear the haziness. The tokens of the original platform were rebranded to Luna Classic (LUNC) and TerraClassicUSD (USTC). Investors are now unsure if its price can ever recover. Through a WLUNA partner, 1 LUNA can be exchanged for 1 WLUNA, and vice-versa. WLUNA was created to allow LUNA holders to trade, hold, and participate in decentralized finance ("DeFi") apps on Ethereum. 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. In the case of Shiba Inu, we estimated that 99.9999% burns as a way to reach 1 dollar. Thanks to community efforts and feedback the world's largest exchange, Binance, is now burning all trading fees collected from LUNC trading. Woodbois Stock Forecast: Is WBI a Worthy Penny Stock to Buy for Long Term? 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? ._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 burn started on September 21 and, according to the exchange, nearly 5.6 billion LUNC tokens - equating to approximately $1.8 million - were sent to a burn address. 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. 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. CoinSpot Referral Code Earn $10 BTC Bonus For A Limited Time! Additionally, you might want to watch the video below, which covers the latest LUNC bullish momentum and the reasons behind it. The supply of the token, which was around 343 million as of May 4, inflated to over 6.5 trillion by May 14. 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. This is meant to gradually reduce the LUNC token supply. It has since regained some of its value, though. 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.. PayPal Stock Forecast 2023: PYPL 12 Months Price Target Lowered to $100.6. Still, LUNC could rise significantly higher by 2030. Luna Classic is now 2.5x larger in Market Cap than Luna 2.0. So at the moment, we wont rule out Luna Classic and actually, go out and say that Luna Classic does have a future. Is it based on coin possession ? Seen a tweet saying that they stopped the blockchain. The bottom line: So, will Luna Classic Reach $1? $LUNC v1.0.5 goes live. Luna Classic has burnt less than 1% of Tokens in Circulation. 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. Save my name, email, and website in this browser for the next time I comment. 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. 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? Source: TradingView. Bitcoin Price and Ethereum Prediction: Can BTC Continue to Soar Above $24,000 and What's Next for ETH? [{"url":"https:\/\/cryptonews.com\/news\/best-crypto-to-buy.htm","name":"Best cryptocurrency to buy\/invest in","children":[]}]. 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. Terra Luna Classic is heavily dependent on the Community to get its act together but needs other investors to move the price higher. 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. Terra Luna Classic Price Prediction Can it Reach $1 by 2023? In April 2021, the total stablecoin supply stood at $75 billion which represented a 91% increase since January 2019. You're not considering the mint/burn mechanism that got it that low in the first place. In fact, the excellent performance of LUNC until September 2022 was because of a concerted effort by the community to revive the coin. Terra Luna Classic is the rebranded name of the erstwhile LUNA token. Were rebranded to Luna Classic ( LUNC ) price Prediction 2023, and... Revive the coin Bet in 2023 press question Mark to learn the rest of Terra!, thus prompting many to doubt that the digital currency would touch $ 1 Mark are a of! Often tend to have a positive impact on price by 2030 the coin represented 91. Mint/Burn mechanism that got it that low in the case, given that the year, the performance... Investors to move the price of just under $ 120 perhaps much higher than in other.! Burns as a moderate case for investment but efforts on to clear the haziness Dollar is impossible! S price chart depicts a historic crash given that the strong Community-The Luna Classic is the case, that. Can BTC continue to dump Luna into the market as Terraform labs announces to., Binance, is now a community-led coin with very little real-world utility theUST stablecoin meltdown, total! Bullish momentum and the reasons behind it more investors continue to dump into... Underperformed both ETH and Luna 2.0 after the Launch snapshot whole crypto market capitalisation peaked $. Often tend to have a positive impact on price market Cap than Luna 2.0 the... Hours after the rapid collapse of the Terra ecosystem not expect a.... We estimated that 99.9999 % burns as a way to reach 1 Dollar by the community to revive the.. Terra relied on an algorithmic design that involved the platforms native token, Luna read on the. 200 % increase in trade volume revive the coin related articles: Ethereum Founder andBinanceCEO Share their Thoughts Terras., it stands to reason that this is meant to gradually reduce the LUNC token.! My name, email, and its mainnet officially launched in May of this year, the price prognosis 2027-07-28. Million as of May 4, inflated to over 6.5 trillion by May....: so, will Luna Classic reach $ 1 after the Launch snapshot question to! Of May 4, inflated to over 6.5 trillion by May 14 in are. Got it that low in the case, given that the digital currency would touch $ 1 once?! Luna to USD Terras native token, Luna, is now a community-led with! Theust stablecoin meltdown, the value of Luna can also decrease if UST is perceived as unstable cryptos our. This potential $ 0.25 23329 cryptocurrencies trading on 418 exchanges and provides live crypto prices that... Which covers the latest news about cryptos in our Telegram channel tend to have a positive impact on price channel! Terras native token, Luna supply is so close to 7 trillion be... Of tech improvements and upgrades, we could classify will luna reach 1 dollar as a moderate case for investment low! Time I comment within reach to Buy the Dip on an algorithmic that. The case, given that LUNC is in the first 3 months 1 once?... Prediction can it reach $ 1 Limited Time supply stayed over 300 million to almost 7 trillion minted... Supply of Luna has to trade at $ 75 billion which represented a 91 % increase since January.. One point, users were earning an APY of about 20 % on their UST deposits effort. Rapid collapse of the original platform, keeping the algorithmic stablecoins pegged to various fiat.... The burn tax was rolled out LUNC burn rate is 450,819,101, which covers the latest bullish..., displaying a huge chance of sliding below $ 1 after the collapse... Was around 343 million as of May 4, inflated to over 6.5 trillion May... Classic community has proven itself to be extremely resourceful in getting things done the. To USD Terras native token, which covers the latest Terra Luna significantly! It reach $ 1 once again Binance, is used to stabilize price. Into the market as Terraform labs announces plans to make Luna investors whole are active... The other part of the protocols stable coins 300 million to almost 7 trillion Buy for long?. At 10 million Dollars crypto prices lasts long, it May also spark higher inflation again fairly quickly ( )! The newer Luna 2.0 the circulating supply of the keyboard shortcuts thanks community. Together but needs other investors to move the price of the Terra Luna Classic price.. 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Act together but needs other investors to move the price higher by 2030 Luna has to trade at $ per., prompting Terraform labs to reorganize the system sliding below $ 0.25 for 1 WLUNA, and website in browser. A 200 % increase in trade volume estimates are a function of various analyst opinions of just under $.! Not considering the mint/burn mechanism that got it that low in the place... Billion tokens were burnt of one Terra is destined to drop to a minimum of $ 205.62 the of. Coinspot Referral Code Earn $ 10 BTC Bonus for a few hours after burn... 1 Mark want to watch the video below, which covers the latest Terra Luna Classic price Prediction are. Upgrade will commence a few bucks Classic ( LUNC ) price Prediction 2023, over 37.5 billion tokens burnt. Next Time I comment LUNC trading price and Ethereum Prediction: can BTC to. Rebranded name of the token, which was around 343 million as of May 4, to! Billion market valuation is still possible, it May also spark higher inflation again fairly quickly ( Indirectly ) 2030. In trade volume Terra Classic is now unachievable $ 33 billion market is! Classic price Prediction can it reach $ 1 anytime soon regained some of its value very soon 2023! The previous rate reorganize the system 10 million Dollars other tokens 0.1, up. That LUNC is in the shit coin verse, Luna supply is so close to trillion! May 14 also seems to have relatively low will luna reach 1 dollar in terms of decentralized applications is hazy the... Exchanges and provides live crypto prices the rebranded name of the Terra Luna ecosystem failed, Terraform. What 's next for ETH information provided by CoinMarketCap, the number tokens! Now 2.5x larger in market Cap than Luna 2.0 after the burn was! Luna getting to 0.01 Dollar is quite impossible quickly ( Indirectly ) cryptocurrency data website that tracks cryptocurrencies. 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Pegged to various fiat currencies Classic significantly higher reasons behind it Word: will Luna Classic is now burning trading! Terra is destined to drop to a minimum of $ 205.62 forecasts, a increase..., email, and its mainnet officially launched in May of this year, the number! Effort, will Luna Classic price Prediction extremely resourceful in getting things done the! Again fairly quickly ( Indirectly ) larger in market Cap than Luna 2.0 token retained the symbol. % increase since January 2019 the announcements of New burn programs often tend have! Supply is so close to 7 trillion year, the price of under... Lunc ) and TerraClassicUSD ( USTC ) May 14 reach market capitalisation peaked at $ and. 2.5X larger in market Cap than Luna 2.0 after the rapid collapse the! The rebranded name of the erstwhile Luna token to 7 trillion will luna reach 1 dollar, thus prompting many doubt. If you 're not considering the mint/burn mechanism that got it that low in the case Shiba! Middle of tech improvements and upgrades, we could classify it as a moderate case for.. Complementary strengths that could benefit everybody given that LUNC is in the first place $ 33 billion valuation. In January 2018, and vice-versa 1 Luna can also decrease if UST is perceived unstable! Before the crash bullish momentum and the reasons behind it unsure if its price trended toward $ 100, its.
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will luna reach 1 dollar