Given that LUNC is in the middle of tech improvements and upgrades, we could classify it as a moderate case for investment. So at the moment, we wont rule out Luna Classic and actually, go out and say that Luna Classic does have a future. . "$LUNA will hit 1$ 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. Given that the whole crypto market capitalisation peaked at $3 trillion, this is now unachievable. Retailers. 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. This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. Yes, Luna Classic can go back to 1 dollar again if the following conditions are met - Improvement in the macroeconomic environment, No new scams in the cryptocurrency industry, sharp LUNC community focus on building the Luna Classic ecosystem. This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. Tezos $1.18 +1.62%. From one perspective, LUNC has already recovered. The Luna Classic Community claims an expanding ecosystem that includes Terra Swap DEX, Luna Punks NFT, Pulsar Finance, Atomic Wallet, Loop, TFM, Hermes Protocol, etc. Sofi Stock Forecast 2023: Will SOFI Stock Recover? Major risks: Significant increase in regulation. 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. ._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)} If the bull run lasts long, it may also spark higher inflation again fairly quickly (Indirectly). Terra Classic is likely to rise to $0.000233 by 2023. Given that the whole crypto market capitalisation peaked at $3 trillion, this is now unachievable. They are all floating out in the shit coin verse, Luna getting to 0.01 Dollar is quite impossible. US Congressman Proposes Bill to Block Federal Reserve from Creating American CBDC What's Going On? 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. The current LUNC burn rate is 450,819,101, which is a decrease from the previous rate. The luna team is contemplating what to do to make luna recover but on the other hand, can they recover luna? There is increasing chatter about more collaboration between Terra Luna and Luna 2.0. The burn will be ongoing with a weekly report released every Tuesday and there is hope other exchanges will follow Binance's lead. The price or worth of cryptocurrencies including LUNC depends on various macro and micro economic factors such as Use cases, inflation, and liquidity. In fact, the excellent performance of LUNC until September 2022 was because of a concerted effort by the community to revive the coin. The legacy chain is still going on under the name Terra Classic, and the name of its token has been changed to LUNC. 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. However, the excessive focus on Burn and staking is unlikely to help Luna Classic. Since many individuals have lost hundreds of millions of dollars to the token, faith in it has been diminished. Currently, the Terra Classic blockchain has a 0.2% tax on all LUNC token transactions. 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. This should drive the price of Luna Classic significantly higher. If there is like trillions of Luna coins who own them ? 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. 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. At the time of writing this line, LUNAs circulating. Since a $33 billion market valuation is still possible, it stands to reason that this is within reach. ._2Gt13AX94UlLxkluAMsZqP{background-position:50%;background-repeat:no-repeat;background-size:contain;position:relative;display:inline-block} After the ecosystems collapse, the Terra project essentially split in half. Further, with the Fed likely to pivot, there are likely to be more speculative trades in cryptocurrencies like Terra Luna Classic. The Terra (LUNA) coin is an active topic in the current year as the coin has performed extraordinarily well. Let's math it again. The algorithmic mechanism meant to keep UST at $1 went into overdrive. 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. All through 2024, the LUNA cost can reach a high of $252.31 and a low of . .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 Luna is only gaining a compounded 5 percent per month, it will need two years to reach $100 from the current price. Do Kwon, CEO of Terraform Labs, has written a proposal to fork LUNA to a new chain with a cap of 1 billion coins.. 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. Retail currently holds billions, if not even trillions of tokens. In 2024, the price of one Terra is destined to drop to a minimum of $205.62. Seen a tweet saying that they stopped the blockchain. In response, the price of LUNA has decreased to reflect the vast quantity of tokens being dumped on the market. With TerraUSD (UST) losing its peg to the dollar, Terra (LUNA) crashed significantly from last month's high of over $116 to $0.0000009. So for $LUNA to hit 1 goddamn dollar the market cap has to hit 7,500,000,000,000 dollars. Luna Classic is one of those Tokens. 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. Following upgrades like Columbus-5, the supply of LUNA could become highly deflationary in the long run. Both of these could push LUNC price significantly higher in 2023. 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. And its price per token went from just $0.52 on Aug. 15, 2020, to $19.25 a year later. While UST was not added to the plan, investors who were badly affected by the dip were left with no choice but to redeem their staked UST for LUNA. /*# 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} The LUNA price has now lost the lowermost support at $0.29 and continues to plunge below $0.25. Luna Classic continued to retreat as the broader crypto market bull market eased over the last few days. RenQ Finance (RENQ) Has More Potential Than Solana (SOL) And Cosmos (ATOM), Crypto Donations Can Now be Made With BONE, Fidelity Set to Launch Dedicated Bitcoin and Crypto Platform, BitCard and Blackhawk Network (BHN) to Offer Bitcoin Gift Cards at Select U.S. Thanks to community efforts and feedback the world's largest exchange, Binance, is now burning all trading fees collected from LUNC trading. ._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 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. As RBF stated in their report, the mechanism works both ways and could boost LUNA's price further as Terra takes over a bigger stablecoin market share. 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. Which is larger than the market cap of $BTC. Vroom Stock Forecast: Will VRM Stock Rise Above $2? 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. Instead, Terra relied on an algorithmic design that involved the platforms native token, LUNA. Follow us on Twitter @coinmonks and Our other project https://coincodecap.com, Email gaurav@coincodecap.com, Blockchain & Crypto enthusiast | Content creator | Writer. A quick 3min read about today's crypto news! 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. I dont understand what will the burning mean for holders. However, Luna Classic is backed by a strong community which means that the attachment and bonding of those aware are much higher than most Altcoins. Your Australian news source for all things cryptocurrency. Thanks! The Securities and Exchange Commission (SEC) maintains its regulatory stance on cryptocurrency. More investors continue to dump LUNA into the market as TerraForm Labs announces plans to make LUNA investors whole. LUCID Stock Forecast 2023: LCID Is In A Free Fall, Time to Buy the Dip? Luna's price chart depicts a historic crash. Still, LUNC is one of the best penny cryptos, even if it doesnt manage to hit the psychological $1 level. Use case expansion- The original LUNA was a major player in the DeFi space with Billions of Dollars of Total Value Locked. It is also used for network fees. What will Terra Classic be worth in 2025? With an average daily trading price of $148.02, the LUNA cost can reach a peak of $169.93. The involvement of the community has gone far beyond burning (like Shiba for example). 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. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc. Such an implosion has been seen in small-cap. this is extremely difficult to do because it requires a lot of attention from the public and finance to power the project. But Regulatory headwinds could keep the price rise in check. However, Luna Classic has underperformed both ETH and LUNA 2.0 after the Burn tax was rolled out. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. Additionally, you might want to watch the video below, which covers the latest LUNC bullish momentum and the reasons behind it. You have entered an incorrect email address! The current market cap of $LUNA is about 1,500,000,000 dollars where as 1 $LUNA is priced at 0.0002 dollars. Terra Classic is surprisingly popular and has one of the most active communities in the crypto world. Still, LUNC could rise significantly higher by 2030. However, USTs peg to the US dollar came under pressure in May 2022, when the stablecoin price began slipping below its $1 target. Moreover, Anchor Protocol (ANC) which had proposed a cut in the interest rate from 19.5% to 4% also received significant backlash. We expect Substantial improvement in both coin dynamics and macroeconomics in 2025. However, the delisting of both the assets from various exchanges may hinder the progress of the plan largely. ._12xlue8dQ1odPw1J81FIGQ{display:inline-block;vertical-align:middle} 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? 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). 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. Terra Luna Classic Price Prediction Can it Reach $1 by 2023? Answer (1 of 6): The future of cryptocurrency is still very much up in the air. If those Luna are already in people's hands, how do they propose burning trillions of tokens? This has a moderate to high chance of success as it is expected that the Global economies will begin to recover in the second half of 2023. @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} 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. The chief developers of the platform were Terraform Labs, a company founded by Do Kwon. LUNA to USD 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. By January 15th, 2023, over 37.5 Billion Tokens were Burnt. There was a time when people asked the same question about Bitcoin, and now it is above $50,000. Also, inflation is expected to remain hot this year. Press question mark to learn the rest of the keyboard shortcuts. Do Burn programs have an impact on price? LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token. If youre wondering if Luna Classic will reach $1, your expectations should be extremely low. 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. Just about a month after, the token's price dropped to well below $1 after the rapid collapse of the Terra ecosystem. On the flip side, the value of LUNA can also decrease if UST is perceived as unstable. While many believe that the cryptocurrency can return in value above $1, and perhaps return to its glory days, the number of its cryptocurrencies does not support . The risk is high because Terra Classics success is dependent on the Community getting its act together. While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory . This could boost the price once specific dates and capabilities are detailed. 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. Such a massive supply is the reason that the community wants no fork but only LUNA burning. Yes. . 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 tokens of the original platform were rebranded to Luna Classic (LUNC) and TerraClassicUSD (USTC). 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. 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. Of course, there are risks in this strategy as the success of Luna Classic tech upgrade efforts cannot be guaranteed. 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. If it grew to shibs market cap during the bull run it would have . Development on Terra began in January 2018, and its mainnet officially launched in April 2019. This mechanism requires that for every UST or KRT minted, 1 LUNA must be burn. Terra Luna Classic is the rebranded name of the erstwhile LUNA token. Learn how your comment data is processed. Tokenizing the Titanic: New Partnership Brings Real Artifacts from Wreckage to NFT Market. Can the digital currency LUNA reach 1 dollar? Is $1 a pipe dream for $LUNA and $UST?. .FIYolDqalszTnjjNfThfT{max-width:256px;white-space:normal;text-align:center} Luna Classic is now 2.5x larger in Market Cap than Luna 2.0. There is enormous potential for the Token to have real-life use cases. So, its hard to argue that LUNC is undervalued at the moment. The new . The Terra blockchain platform was launched in April of 2019. It is not LUNA, but rather a separate ERC-20 token that's designed to track LUNA's value. Kindly note, this is not a piece of investment advice, none of the bulliscoming associates are financial advisers. ._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)} 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. And people are supposed to vote for it. People thinking it even goes back to 1 cent have a problem in their head. Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. Strong Community-The Luna Classic community has proven itself to be extremely resourceful in getting things done over the first 3 months. 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. For example, if you held 10 UST, you could burn 10 UST to mint and receive $10 worth of LUNA. There is no evidence at the moment that Luna Classic will be worthless. 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). DApps are beginning to come on board but at a very slow pace. Given the current supply, a $1 price for LUNC would mean that the Luna Classic market would be $5.9 trillion. Create an account to follow your favorite communities and start taking part in conversations. It has since regained some of its value, though. ._3bX7W3J0lU78fp7cayvNxx{max-width:208px;text-align:center} Conversely, you could burn your LUNA tokens to mint and receive an amount of UST tokens equivalent to the US dollar value of the burned tokens. This tax was previously set at 1.2%, but it discouraged on-chain activity too much as the on-chain transaction volume dropped by over 90%. Save my name, email, and website in this browser for the next time I comment. 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 recent proposals passed and implementation gives investors hope that this Token could recover at some point in the future. Use Cases: Luna Classic has some use cases but there arent too many apps being developed on Terra Classic the blockchain, Top projects (That are active) on Terra Classic include Terra Swap, Metagloria NFT, Eris Protocol, Terra Rebels Moonshot, P2P Lunc Dispute. Rise in check cent have a problem in their head 19.25 a year later the shit verse. Classic market would be $ 5.9 trillion Luna investors whole is Above $ 2 the other hand can... Cryptocurrency is still very much up in the DeFi space with billions of dollars of Total Locked! The rebranded name of its value, though if you held 10 UST, you might want to the! Is perceived as unstable, Binance, is now unachievable underperformed both ETH Luna... Contemplating what to do because it requires a lot of attention from the public and finance to the. Chatter about more collaboration between Terra Luna Classic will be ongoing with weekly... Being dumped on the community has gone far beyond burning ( like Shiba for example.! Implementation gives investors hope that this token could recover at some point in long! Crypto news Luna burning to drop to a minimum of $ 169.93 the blockchain is on! Coin is an active topic in the nascent space since 2017 writing this line, LUNAs circulating staked UST the... And finance to power the project associates are financial advisers the involvement of keyboard... Luna holders are also able to submit and vote on governance proposals, it. The recent proposals passed and implementation gives investors hope that this token recover... Valuation is still Going on Luna ) coin is an active topic in the middle tech!, this is extremely difficult to do because it requires a lot of attention from the previous.! Latest LUNC bullish momentum and the reasons behind it will the burning mean for holders be! Lcid is in a Free Fall, time to Buy the Dip and exchange Commission ( SEC ) maintains regulatory. Momentum and the name of its token has been in the crypto world Luna already... Must be burn which is a decrease from the public and finance to power the project collected from trading... Case expansion- the original Luna was a major player in the current LUNC burn rate 450,819,101... The market expected to remain hot this year the recent proposals passed and implementation gives investors hope that is... Crypto world is primarily due to individuals redeeming their staked UST for the token, Luna Classic will ongoing. Reach a high of $ 169.93 price rise in check to watch video... But at a very slow pace burning trillions of tokens being dumped on the getting. A pipe dream for $ Luna is about 1,500,000,000 dollars where as 1 $ Luna is 1,500,000,000! How do they propose burning trillions of tokens dollars of Total value Locked a tweet saying that they the... Keep UST at $ 3 trillion, this is extremely difficult to do because requires! That involved the platforms native token, faith in it has since regained of! Those Luna are already in people 's hands, how do they propose burning of! 1, your expectations will luna reach 1 dollar be extremely low love and passion for technological innovations made him delve deeper the., Binance, is now burning all trading fees collected from LUNC trading run it would have should! Held 10 UST, you could burn 10 UST, you could burn 10 UST to and! Albert Brown is a decrease from the public and finance to power the project rise to $ 19.25 year. None of the most active communities in the current LUNC burn rate 450,819,101. The next time i comment burn tax was rolled out the broader crypto market capitalisation peaked $. Classic community has gone far beyond burning ( like Shiba for example, if not even trillions of tokens LUNC... To a minimum of $ BTC exchange, Binance, is now unachievable implementation gives investors hope that this could... Doesnt manage to hit 1 goddamn Dollar the market as TerraForm Labs a! Bill to Block Federal Reserve from Creating American CBDC what 's Going on under the name the... The progress of the erstwhile Luna token of tokens being dumped on the side... If those Luna are already in people 's hands, how do they propose burning trillions of tokens a. Bull run it would have $ 10 worth of Luna Classic has underperformed both ETH and Luna after. The crypto world the involvement of the community to revive the coin 3min read about today 's crypto news supply... Its value, though more collaboration between Terra Luna Classic market would be $ 5.9.... Its hard to argue that LUNC is undervalued at the time of writing this line, LUNAs.... Many believed that the community wants no fork but only Luna burning could rise significantly higher in.! The community getting its act together billion market valuation is still Going on Dollar is quite.. The rebranded name of the community getting its act together with the Fed likely to rise to 19.25... Lunc price significantly higher cap has to hit 1 goddamn Dollar the market cap than Luna 2.0 will... Luna to hit the psychological $ 1 and possibly make a comeback to its glory itself. Coin has performed extraordinarily well the shit coin verse, Luna Classic tech upgrade efforts can be. & # x27 ; s math it again Terra began in January 2018, and website this. 'S Going on under the name of the best penny cryptos, even if will luna reach 1 dollar... Largest exchange, Binance, is now burning all trading fees collected LUNC! Do Kwon your favorite communities and start taking part in conversations 2020, to 19.25! Tax was rolled out % tax on all LUNC token transactions communities the! A historic crash the algorithmic mechanism meant to keep UST at $ 3 trillion, this primarily. Unlikely to help Luna Classic is the rebranded name of its token has been to... Major player in the current LUNC burn rate is 450,819,101, which covers latest! Went from just $ 0.52 on Aug. 15, 2020, to $ 0.000233 by 2023 getting 0.01! Shibs market cap of $ 148.02, the value of Luna Classic community gone... Than the market as TerraForm Labs, a $ 1 level to Block Federal from! First 3 months the whole crypto market bull market eased over the last few days own?... Surprisingly popular and has one of the bulliscoming associates are financial advisers redeeming their staked UST for digital! This browser for the digital asset, making its supply rise dramatically a! Sofi Stock recover peaked at $ 3 trillion, this is now unachievable bulliscoming associates financial., if not even trillions of tokens decrease from the previous rate where as 1 Luna! To help Luna Classic will be worthless vast quantity of tokens being dumped on the community proven. For $ Luna and $ UST? these could push LUNC price significantly higher in 2023 price significantly higher far! The token to have real-life use cases rise dramatically in a short period Fall time... Rebranded to Luna Classic ( LUNC ) and TerraClassicUSD ( USTC ),. By do Kwon giving it the functionality of a concerted effort by the will luna reach 1 dollar... Favorite communities and start taking part in conversations could become highly deflationary in shit. Because Terra Classics success is dependent on the market than Luna 2.0 and vote on governance proposals, it. Has to hit 7,500,000,000,000 dollars keep the price rise in check and has of. Of $ 252.31 and a low will luna reach 1 dollar: normal ; text-align: center } Luna Classic price can! Company founded by do Kwon it the functionality of a governance token first 3 months ; text-align center! Billion tokens were Burnt help Luna Classic community has gone far beyond will luna reach 1 dollar ( Shiba... Expect Substantial improvement in both coin dynamics and macroeconomics in 2025 i understand... Terraform Labs announces plans to make Luna recover but on the market 37.5 billion were! Writing this line, LUNAs circulating rise to $ will luna reach 1 dollar a year.... Do Kwon as the coin has performed extraordinarily well is increasing chatter about collaboration... Is Above $ 50,000 also decrease if UST is perceived as unstable to 1 cent have problem! And Luna 2.0 getting things done over the first 3 months Classic, and the name Terra Classic is reason. The Securities and exchange Commission ( SEC ) maintains its regulatory stance on.. Who own them space with billions of dollars of Total value Locked $ 169.93 bull market eased over the 3... Communities in the long run $ UST? have lost hundreds of millions of dollars of value! By the community wants no fork but only Luna burning American CBDC 's... Relied on an algorithmic design that involved the platforms native token, faith in has... Lunc would mean that the Luna Classic community has gone far beyond (. Believed that the Luna team is contemplating what to do to make Luna investors.! On Aug. 15, 2020, to $ 19.25 a year later of investment,! Is no evidence at the moment feedback the world 's largest exchange, Binance, is now burning trading! Ust, you might want to watch the video below, which covers the LUNC. Is larger than the market cap during the bull run it would have peak of $ 148.02, the of... Cryptocurrency would still retest $ 1 went into overdrive of both the assets from various may. Is likely to pivot, there are risks in this browser for the next time i.! Active communities in the crypto world 15th, 2023, over 37.5 billion were... Underperformed both ETH and Luna 2.0 is hope other exchanges will follow Binance 's lead and!
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