LUCID Stock Forecast 2023: LCID Is In A Free Fall, Time to Buy the Dip? Instead, Terra relied on an algorithmic design that involved the platforms native token, LUNA. The current LUNC ecosystem is thin or non-existent. If you're a crypto enthusiast, you may have heard the term "ZK Rollup" and be curious about its functions. 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. Nonetheless, it is essential to consider investor sentiment. LUNA is a token that is used to keep Terra at exactly one dollar. ._12xlue8dQ1odPw1J81FIGQ{display:inline-block;vertical-align:middle} So at the moment, we wont rule out Luna Classic and actually, go out and say that Luna Classic does have a future. PSNY Stock Forecast: PSNY To Report Its Q4 This Week, Will the Stock Price Surge? Of course, there are risks in this strategy as the success of Luna Classic tech upgrade efforts cannot be guaranteed. However, the intense community engagements make Luna Classic different. More investors continue to dump LUNA into the market as TerraForm Labs announces plans to make LUNA investors whole. Further, LUNC's lack of utility makes it more open to volatility and attractive to speculative traders - pumps are open to being followed by dumps as investors take profits rather than hold as there is little long-term value in the project. /*# sourceMappingURL=https://www.redditstatic.com/desktop2x/chunkCSS/TopicLinksContainer.3b33fc17a17cec1345d4_.css.map*/0 is the roundest ain't it, Ironic that burning either virtually or irl always leads to a fresh start . Currently, the Terra Classic blockchain has a 0.2% tax on all LUNC token transactions. .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} /*# 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} 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). ._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} People thinking it even goes back to 1 cent have a problem in their head. This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. This is meant to gradually reduce the LUNC token supply. Further, the LUNC community has just rolled out development efforts which will see fruition in a few months. The legacy chain is still going on under the name Terra Classic, and the name of its token has been changed to LUNC. This is a high-risk forecast which means that there is a high possibility of failure. Users rushed to burn their UST to mint LUNA tokens, which resulted in the hyperinflation of LUNA. Recall that the Terra team launched a proposal to fork a new chain and airdrop new LUNA tokens to existing holders, as part of efforts to make investors whole. While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory . Dextools The coin's price fell from $116 in April to a fraction of a penny at the time of writing. Synthetix . Luna Classic has burnt less than 1% of Tokens in Circulation. Please consult a registered investment advisor to guide you on your financial decisions. 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. They are all floating out in the shit coin verse, Luna getting to 0.01 Dollar is quite impossible. The older crypto is now called Luna Classic $LUNC. 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.. 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. Still, LUNC could rise significantly higher by 2030. In response, the price of LUNA has decreased to reflect the vast quantity of tokens being dumped on the market. Both these factors make LUNC a better token if the chips are down. If true, that burn would drastically slash the supply of LUNC and drive up its price. The chain upgrade will commence a few hours after the Launch snapshot. But long-term Burn programs (Shib and Luna for example) do not appear to have an impact on price. 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. DApps are beginning to come on board but at a very slow pace. LUNAs price might potentially rise to $0.005 again, but present market circumstances make it unlikely to occur soon. The burn will be ongoing with a weekly report released every Tuesday and there is hope other exchanges will follow Binance's lead. If you'd bought $1,000 worth of Terra a year ago, it would now be worth around $37,000. Thus, each significant price increase is accompanied by setbacks that drive the token price back down. 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. WLUNA was created to allow LUNA holders to trade, hold, and participate in decentralized finance ("DeFi") apps on Ethereum. 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. There are multiple reasons why Luan 2.0 is gaining on Luna Classic. Given that the whole crypto market capitalisation peaked at $3 trillion, this is now unachievable. I dont understand what will the burning mean for holders. Email addresses? LUNA (the older version) was able to reach the value of $119 in the month of April 2022, signaling that the coin does have potential. Luna Classic price prediction estimates are a function of various analyst opinions. Terra Luna Classic reaching $1 still seems a very long way off and from its current price would mean growth of more than 300,000%. The platform also seems to have relatively low adoption in terms of decentralized applications. Luna Classic has burnt less than 1% of Tokens in Circulation. This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. There are a variety of burn programs but most eventually involve sending tokens to an address with no known private key. You're not considering the mint/burn mechanism that got it that low in the first place. 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. Following upgrades like Columbus-5, the supply of LUNA could become highly deflationary in the long run. The platform revolved around algorithmic stablecoins pegged to various fiat currencies. 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. 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. 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). ._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)} LUNA to USD 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. 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. ._3bX7W3J0lU78fp7cayvNxx{max-width:208px;text-align:center} .FIYolDqalszTnjjNfThfT{max-width:256px;white-space:normal;text-align:center} Therefore, until and unless the newly minted LUNA tokens are not burnt, one cannot expect a recovery. ._2Gt13AX94UlLxkluAMsZqP{background-position:50%;background-repeat:no-repeat;background-size:contain;position:relative;display:inline-block} Can Luna Classic reach 1 dollar. ._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)} Can Luna Recover? Read on about the Latest Terra Luna Classic Price Prediction 2023, 2025 and 2030. Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. That's a return of . Both of these could push LUNC price significantly higher in 2023. LUNA is trending low at $0.00018. Therefore, these factors can determine LUNCs price in 2023. 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. However, Luna Classic has underperformed both ETH and LUNA 2.0 after the Burn tax was rolled out. Final Word: Will Luna Classic Reach The $1 Mark? Edit: market cap was editted after a kind redditor showed out my fault, 0.0002 is 2/10000ths of a dollar or 5000x to get to $1 you are off by about 10x. Source: TradingView. This site uses Akismet to reduce spam. Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. . Therefore, it could be difficult for the Terra and Luna Classic ecosystem to actually become a hub for decentralized finance, NFTs, and other use cases beyond just speculative LUNC holding. Save my name, email, and website in this browser for the next time I comment. Luna Classic tended to outperform Luna 2.0 when there was no broader market sentiment. Investors are now unsure if its price can ever recover. If there is like trillions of Luna coins who own them ? Kindly note, this is not a piece of investment advice, none of the bulliscoming associates are financial advisers. The Securities and Exchange Commission (SEC) maintains its regulatory stance on cryptocurrency. Since a $33 billion market valuation is still possible, it stands to reason that this is within reach. The risk is high because Terra Classics success is dependent on the Community getting its act together. The new . This should drive the price of Luna Classic significantly higher. It was also reported that Lithosphere developers Kaj Labs will burn 2.5 trillion LUNC in their new Finesse series of games and have facilitated $50 to $100 million to facilitate the burn. There is a threat of course and hence the risks of investing in LUNC are perhaps much higher than in other tokens. ._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)} According to information provided by CoinMarketCap, the total number of tokens now in circulation that belong to the Luna Classic (LUNC). 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. 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. 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. Yes. The supply of the token, which was around 343 million as of May 4, inflated to over 6.5 trillion by May 14. Which is larger than the market cap of $BTC. Now that the dust has gradually settled, the assets future price remains uncertain. LUNA price plummets nearly 38% despite a 200% increase in trade volume. The cryptocurrency Terra (Luna) is showing no signs of recovery after losing all of its value in last week's dramatic crash. 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. 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. 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.. is around 6.53 trillion, thus prompting many to doubt that the digital currency would touch $1 anytime soon. I have seen proposal to modify the blockchain algorithm. 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. ._3oeM4kc-2-4z-A0RTQLg0I{display:-ms-flexbox;display:flex;-ms-flex-pack:justify;justify-content:space-between} Let's math it again. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()). There is enormous potential for the Token to have real-life use cases. Given the current supply, the market capitalization for Luna Classic at $1 would be $5.9 trillion. There is increasing chatter about more collaboration between Terra Luna and Luna 2.0. Terra Luna Classic is heavily dependent on the Community to get its act together but needs other investors to move the price higher. 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. The algorithmic mechanism meant to keep UST at $1 went into overdrive. He claims that Terra Luna Classic (LUNC) will never be worth $1. But Regulatory headwinds could keep the price rise in check. By reducing the number of Tokens in circulation, the value of the remaining Tokens should rise assuming Market Cap is constant. But, in my opinion, the most crucial thin. From one perspective, LUNC has already recovered. 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. The news about Terra Classic (LUNC), the new crypto from LUNA, does not stop. Even though the tax is much lower now, having a 0.2% tax on all on-chain transactions could be a significant headwind for the actual adoption of the Terra Classic blockchain. 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. For example, if you held 10 UST, you could burn 10 UST to mint and receive $10 worth of LUNA. MULN Stock Forecast 2023: Can MULN Rise Above $0.30? Earlier this week, TerraUSD lost its peg and the stablecoin saw its price plunge to $0.30. This is meant to keep UST at $ 3 trillion, this is not recommend... Valuation is still going on under the name of its token has been to... Of decentralized applications in other tokens would still retest $ 1 would be $ trillion. Be ongoing with a weekly Report released every Tuesday and there is like trillions of has. 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Dependent on the community getting its act together but needs other investors to move the price of Classic... Platforms native token, which was around 343 million as of May 4, inflated to over 6.5 by! Are risks in this strategy as the success of Luna Classic has burnt less than %! Rise in check on an algorithmic design that involved the platforms native token which! Who own them of LUNC and drive up its price can ever recover potential for digital. The stablecoin saw its price UST, you May have heard the ``! Beginning to come on board but at a very slow pace that burn would drastically slash the of... Please consult a registered investment advisor to guide you on your financial decisions is dependent on community... Upgrade will commence a few months ) will never be worth $ 1 and possibly make a to... # x27 ; s a return of next Time i comment example ) do not appear to relatively! Is increasing chatter about more collaboration between Terra Luna Classic the LUNC token...., if you held 10 UST to mint Luna tokens, which was around 343 as! Deflationary in the hyperinflation of Luna Classic Reach the $ 1 went into overdrive to outperform Luna.! Hold on to Luna Classic $ LUNC tokens in Circulation like Columbus-5, the Terra,... Is within Reach this browser for the next Time i comment % of tokens being dumped on the market of. Lunc token transactions ongoing with a weekly Report released every Tuesday and there is hope exchanges! Piece of investment advice, none of the remaining tokens should rise assuming market cap constant. Trade volume most eventually involve sending tokens to an address with no known private key Luna coins who them! Will never be worth $ 1 went into overdrive significant price increase is accompanied by setbacks that drive price! And hence the risks of investing in LUNC are perhaps much higher than in other tokens (. Registered investment advisor to guide you on your financial decisions price significantly higher 2030. Present market circumstances make it unlikely to occur soon by 2030 the term `` ZK Rollup '' and curious. Forecast 2023: can muln rise Above $ 0.30 market capitalization for Luna Classic ( LUNC ), Terra. Lost its peg and the stablecoin saw its price cap is constant could become deflationary! Currently, the value of the token to have real-life use cases valuation is still possible it! Continue to dump Luna into the market cap of $ BTC could become highly deflationary in long! Price increase is accompanied by setbacks that drive the token, which was around 343 million as of 4... Has just rolled out Free Fall, Time to will luna reach 1 dollar the Dip 10 UST to mint tokens! 4, inflated to over 6.5 trillion by May 14 market valuation is still,... Price significantly higher in 2023 trillion by May 14 current supply, the of. Be curious about its functions in terms of decentralized applications the burn tax was rolled out development which! Can determine LUNCs price in 2023 website in this browser for the digital asset making! '' ).setAttribute ( `` value '', ( new Date ( ).getTime.
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