Terra Luna Classic Price Prediction: Will Luna Classic Reach $1? (2024)

Terra LunaClassic Price PredictionOverview: It is predicted that the maximum price LUNC coin can reach is $0.000135 in 2023, $0.000304 in 2025, and $0.000739 in 2030.

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Luna Classic (LUNC), the original Terra LUNA coin, has been at the root of the crypto market’s difficulties since May 2022, when the old UST stablecoin lost its peg to the dollar and caused the whole Terra ecosystem to collapse suddenly. After the Terra Luna crash, the network established a new Terra chain called Terra 2.0, and the previous chain was renamed Terra Classic with the tokens LUNA Classic (LUNC) and Terra Classic USD (USTC).

For the first few years after launched in 2019, LUNC has been performing well. And, by the end of 2021, it nearly touched $100 and then among the top 10 cryptocurrencies by market capitalization. But the coin which once trades with triple digits now trades with four zeros in front of its decimal point. Such sudden crash has shocked the entire crypto market, with many investors still concerned about whether the price of LUNC will rise again, as the future of this coin is undoubtedly crucial in determining if a failed crypto can make a comeback and grow.

Will Luna Classic rise again? Can LUNC coin reach $1? Does LUNC coin have a future? In this article, we will review Terra Luna Classic (LUNC) and dive into the future Terra Luna Classic price prediction for 2023, 2025 and 2030, from market trends and technological developments to wider economic influences.

Before we start with a detailedTerraLuna Classic price prediction, let’sdive intothe coin’s overview.

Terra Luna Classic (LUNC) Overview

What Happened to Terra Luna?

After the Terra Luna crash in May 2022, its founder Do Kwon launched a Terra Revival Plan, which introduced a new version of Luna. The older crypto (original Luna) is now called Luna Classic (LUNC) and the new launched one is called Luna 2.0 (LUNA). Both versions of the Luna token can exist.

The term “classic”most likelyrefers tothe hard fork of EthereumandEthereum Classicthat occurred after Ethereum’s 2017decentralized automated organization (DAO)breach. As Kwon stated, this seems to be another ploy to promote the UST crash as “Terra’s DAO hack moment” .

Terra was developed by Terraform Labs in 2018. Do Kwon and Daniel Shin founded this South Korea-based lab to infuse the best features of a fiat currency and Bitcoin (BTC) into a price-stable coin. It is an open-source blockchain protocol for hosting a dynamic ecosystem of dApps and top-tier development tools. Terra’s blockchain carves a path for the next-gen DeFi experience by harnessing a proof-of-stake consensus mechanism.

In addition to this, Terra is also a payments platform for an algorithmic stablecoin designed to chase the price of a fiat (government-backed) currency.

The native token, Terra (LUNA) wasthe staking and governance assetof the network. Users stake LUNA to earn a place in governance and become validators and earn rewards. Users can also burn LUNA to mint Terra’s UST token or one tied to their local fiat. However, it’s important to note that while thesestablecoins are peggedto the value of fiat, they’re not backed by fiat. Instead,the Terra Luna cryptocurrency was considered analgorithmic stablecoin. Terra Luna crypto’s chief role was to serve the purpose of a ‘counterpart’ in absorbing price fluctuations of Terra’s algorithmic stablecoin, terraUSD (UST).

However, on May 9, the so-called stablecoin UST wasunpegged, after nearly 18 months of retaining its value against the US dollar. The decoupling created a chain reaction that led to the collapse of UST, Terra LUNA, and Bitcoin, as well as the more significant crypto sector that has yet to fully recover. Luna Classic’s market cap has dropped from $1.5 billion to $595 million since then.

Despite all this, investor interests in Terra Luna Classic are still high. Read on to find out what affects the LUNC price.

Related:

Terra LUNA 2.0 vs. Luna Classic (LUNC): What Are the Differences?

Terra LUNA 2.0 And LUNA Classic (LUNC): Get It All in One Guide

Luna Classic Burn

While most crypto developers and projects left this collapsed blockchain, some community members attempted to bring new life to the network by introducing the Luna Classic Token Burn program. By burning the LUNC, holders hoped this will increase the scarcity of their coins, pushing the price back towards $1.

The massive supply of Terra Luna Classic has been identified as a significant factor in the token’s lackluster performance. To tackle this challenge, the Luna Classic community has collaborated with Binance, the world’s largest crypto exchange by trading volume, to burn LUNC transaction fees. Binanceimplementeda mechanism to destroy the same amount of coins as the fees it collects from trading LUNC.

LUNC burn is seen as a potential recovery plan for the crashed Terra ecosystem. Actually many investors believe it is the only thing that can save the coin, which will raise prices by reducing oversupply in the market. This burn’s ultimate aim would be to bring down the LUNC’s supply from 5.9 trillion to 10 Billion.

When Binance and other significant CEXs began burning LUNC tokens in September 2022, the price of $LUNC soared 60% in just a few hours. Through this token burn program, the community has so far succeeded in removing 52.5 billion tokens from the circulating supply, with Binance contributing the most significant share of around 30.5 billion LUNC or 58% of the total tokens burned.

However, the LUNC burn mechanism data still turned out to be underwhelming. Despite efforts to reduce Terra Luna Classic’s supply in the market, its circulating supply is still in trillions. As there are nearly 5.9 trillion tokens in circulation, the burn rate works out to a meager 0.089% of the total LUNC supply – extrapolating to a reduction of only a few percentage points on an annualized basis, too minuscule to have any measurable impact on the tokens’ hyperinflated supply.

Binance’s scheme “is meaningless in its direct impact,” a crypto trader, who goes by the pseudonym ofOgle, commented in a Telegram chat, adding, “At this rate, assuming the volume continued to be as high as now (which I doubt), it would take 15 years to get to the total burn goal.”

Related:

Luna Classic Burn: Will LUNC Burn Its Supply?

Luna Classic Burn: Can the Program Really Pump LUNC Price to $1.00?

Terra Luna ClassicPrice History

Since its launch in 2019, LUNC’sprice kept floating around $0.2 and $1.3 until April 2021. When the crypto market boomed in mid-2021, its price began to increase. And, it nearly touched $100 by the end of 2021.

Then inearly 2022, LUNC pricekept oscillating between $50 and $100 and reached an all-time high (ATH) of $119.18 on 5 April 2022. The next month, its price began to fall and the whole Terra network ecosystemsuddenly collapsed in mid-May, with LUNCfalling almost to zero. Theentire crypto marketwas adversely affected and lostnear$45 billionwithin a week following the Terra crash, as Bloombergreported.

The crypto market is likely to remain volatile for the next few months. At press time, Terra Luna Classic price was trading at $0.000091. LUNC remains particularly vulnerable. So far, its performance after the crash in May 2022 is not something to celebrate.

Well, However, if LUNC trades well in the future, it will be a celebration not only for this particular cryptocurrency, but for many others.

Luna Classic Price Analysis

Terra Luna Classic (LUNC) has been on an overall downtrend since topping out for the year above $0.0002 in February. The coin has recently attracted attention in the crypto market as it rebounds after a period of inactivity.

At the time of writing, LUNC was trading at $0.000091with a market capitalization of $530,039,302, ranking #79amongst all cryptocurrencies by that metric. In the past 24 hours, the price of Luna Classic has decreased by 1.68%with a trading volume of $78,574,277.

From a technical perspective, LUNC has witnessed a rebound above a significant support level at 0.00009063. This bounce may propel the price towards the $0.00009522 level.

It is important to closely monitor the immediate resistance level at $0.00009517, as a breakout above this level could potentially propel LUNC’s price towards $0.0001028.

The current price means that LUNC is up by 9.5% in a week, although it remains down by 37% since the beginning of the year, with the market becoming increasingly frustrated with the Terra Luna Classic community’s lack of progress in re-pegging sister stablecoin USTC.

This lack of progress has been worsened in recent weeks by disagreement over upgrade proposals, including proposals related to reverse splitting USTC and also to reducing LUNC’s staking undelegation period.

As such, it may take some time for LUNC to mount a serious recovery, although with the coin still undervalued, now may still be a very good time to buy the coin at a discount.

Analyzing technical indicators, LUNC’s chart suggests that it may be in a position to make further gains in the short-term.

Source: TradingView

For one, LUNC’s relative strength index (purple) has risen to 60, indicating an influx of buying momentum that could push the altcoin higher.

At the same time, the coin’s 30-day moving average (yellow) has been well below its 200-day average (blue) for far too long, meaning that a reversal towards a more positive position is long overdue.

That further gains could be coming is also suggested by LUNC’s support level (green), which has been rising over the past week, with the coin not falling far at all whenever its gains have stalled.

This is a positive development, although the question of whether LUNC can make truly substantial returns all hinges on whether the Terra Luna Classic community can reach agreement on a plan for boosting the coin’s price, as well as that of its related stablecoin, USTC.

Recent weeks have witnessed some progress in this respect, with validators accepting a proposal to establish a test environment for trailling new updates, so as those related to re-pegging USTC and/or burning LUNC.

Unfortunately, not much has been achieved beyond such measures, with little concrete progress in terms of actually putting something into practice.

Real progress has been hampered to a large extent by disagreement within the LUNC community on how to boost the coin’s fortunes, with a number of recent proposals being rejected by validators.

While rejected proposals may have deserved to fail, the fact that numerous proposals are being put forward and then rejected highlights the unfortunate division at the heart of the Terra Luna Classic community.

For this reason, it may be some time before LUNC enjoys a really substantial gain, even if it could potentially rise to $0.0001 in the next few weeks, and possibly $0.0002 or $0.0003 by the end of the year.

TerraLuna Classic Price Prediction 2023, 2025 and 2030

We’ve covered most of the important things you need to know about LUNCbefore considering Luna Classic prediction, including the history price and LUNC technical analysis. If you are really interested in investing in the coin, this is the time to be more attentive.

Below pulls together all the latest Terra Luna Classic predictions for 2023, 2025 and 2030 to give you an idea of how the crypto might perform in the future.

Luna Classic Price Prediction2023

It is expected that the LUNC burning will accelerate and expand substantially this year. The Luna Classic price forecast for 2023 anticipates a potential increase in the year’s second half, possibly reaching a potential high of $0.000135 by the end of 2023.

As with other cryptocurrencies, the rise will be gradual, but no considerable drops are expected. Averaging $0.000112 in price is ambitious, but it is feasible in the near future given anticipated collaborations and advancements. On the other hand, if the project falls prey to the bears, LUNC price is expected to land at a minimum of $0.000101.

Luna Classic Price Prediction 2025

As per our Luna Classic price prediction 2025, if the uptrend continues until the year, LUNC could reach a maximum price of $0.000304. If the market experiences a decline, the goal may not be met. LUNC is expected to trade at an average price of $0.000278 and a low of $0.000261 in 2025.

Let’s look at what other analysts say about the Terra Luna Classic price prediction 2025.

Coinpediapredicts a minimum and maximum price for LUNC in 2025 of 0.000512and $0.000675, respectively.

Additionally, Telegaonis much morebullish about the future of Luna Classic. According to its Terra Luna Classic price prediction, by 2025, LUNC is expected to trade at a high of $0.0081 and a low of $0.0039, with an average price of $0.0065in the year.

Luna Classic Price Prediction 2030

If Luna Classic manages to attract investors and whalestats with its developmental and community-building initiatives, LUNC token might experience a significant increase in 2030. Our Terra Luna Classic price prediction 2030 forecasts that LUNC could potentially reach a maximum price value of $0.000739 and the minimum price could be $0.000692, averaging out at $0.000703.

Further, Telegaon’s Luna Classic price prediction 2030 forecasts that the price of LUNC will oscillate between$0.59 and$1.23 in 2030. According to the forecast, the average price for that year is $0.81.

Terra Luna Classic Price Prediction Conclusion: Will Luna Classic Reach $1?

Considering the tireless efforts on part of the Luna Classic community to reduce the token’s supply and maintain its value in their minds, LUNC seems to have bright future prospects.

Terra Luna Classic has been making positive development to attract more users and provide its network with more utility, which is what will ultimately support its growth in the longer term.

However, it is important to keep in mind the risks associated with investing in a project that has been subjected to a major mishap. Should the coin fall prey to pump and dump schemes, the price could plummet in the coming sessions.

Some think that LUNC could get some value through reasonable management and token burns, but it is improbable that it will ever reach $1 again.

The voluminous circulating supply is the biggest hindrance to Terra Luna Classic rising to $1. Investors are advised to keep a close eye on the number of tokens burned alongside the % of LUNC staked. A growing trend in these fronts may further confirm the current bullish sentiments.

Investors should watch out for how the Terra ecosystem reacts to these developments and whether it can adapt to the emerging trends. These changes will determine whether LUNC can regain the trust of the investors and if Luna Classic can reach $1 again.

Typically, everything is possible in the crypto world and basically, investors shouldn’t rule out the chance that the original Terra blockchain may make a comeback and reconstruct a viable ecosystem. But, truth be told, that seems doubtful at this stage.

In closing, please know the forecast figures here are generated using our price prediction tool and in that matter, not a guarantee, that the actual price action will follow what we mentioned. Forecasts are not immune to changing circ*mstances and will be updated with new developments. Always do your own research and evaluate all necessary factors before making any investment.

BTCCwill keep you updated with the latest Luna Classic news and LUNC price predictions.

Luna Classic Price Prediction FAQs

Will Luna Classic go up again?

With the ongoing tokens burning activities, LUNC community is absolutely focused on reducing its supply and boosting its price. We should watch out for how the Terra ecosystem will react to the future developments. These changes will determine whether LUNC can regain the trust of the investors and if Luna Classic will rise again.

What will Luna Classic be worth in 2023?

Based on our Terra Luna Classic price prediction 2023, Luna Classic is expected to reach a maximum price of $0.000135 by the end of 2023, and the minimum price should be $0.000101.

Will Luna Classic reach $1 in 2025?

Most of the Terra Luna Classic price predictions suggest that a meteoric rise to $1 is impossible for Luna Classicin 2025. While the Luna Classicprice may experience some upward movement, reaching such a significant milestone is unlikely based on the available data and market conditions.

What will Luna Classic be worth in 2025?

Based on our Luna Classic price prediction 2025, if the uptrend continues until the year, LUNC could reach a maximum price of $0.000304. If the project falls prey to the bears, LUNC price may land at a minimum of $0.000261 in 2025.

What will Terra Luna Classic be worth in 2030?

As per our Terra Luna Classic price prediction 2030, LUNC coin could potentially reach a maximum price value of $0.000739 and the minimum price could be $0.000692, averaging out at $0.000703.

Will Luna Classic reach $1 cent?

No. Our prediction model sees no possibility for Luna Classicto reach $1 centin the future.

How to stake LUNC?

You can check our complete guide here to start staking LUNC now.

Where can I buyLuna Classic (LUNC)?

Notable options for purchasing Luna Classicinclude Binance, BTCC andKuCoin. Among these,BTCCis one of the best exchanges as it witnesses a large trading volume ofLUNC.Compared to Binance, BTCC has no regulatory concerns and is available in U.S., Canada and many other countries in Europe. Furthermore, BTCC exchangeis highly recommended due to its favourable attributes such as extremelylow fees, user-friendly interface, excellent customer support, and robust security measureswith no reported hacks or security breaches to date.

Buying LUNConBTCCis simple.Check heretocreate an accountonBTCCand choose to purchase LUNCwithUSDT and a leverage up to 50x. The transaction is safe, cheap, and fast with VERY easy steps.

What are BTCC’s specs?

Sometimes, users feel more comfortable working with an exchange if they know that the exchange has a footprint in the industry. With12 years of stable and secure operating history, BTCCis one of thetop cryptocurrency derivatives exchangesin CoinMarketCap, which boasts a wide selection of 60+ cryptocurrenciesand millions of registered users, offering services in 100+ countries.

BTCCcharges 0.06% for both takers and makers, which are way below the industry average. According to the largest and most recent empirical study on crypto exchange trading fees, the average spot trading taker fee is 0.2294% and the maker fee is 0.1854%.

With high liquidity, low trading fees and fast transaction speed, BTCC allows users to open a trade immediately even when the crypto markets experience a sharp rise or plunge.

Apart from crypto trading, BTCCalso supports tokenized futures service, allowing users to trade stocksand commodities futures(Gold/Silver) with USDT as the margin.The maximum leverage is up to 100x.

Trading onBTCCbegins with registrationand log in, which only takes 30 seconds. New customers can now sign uphereto get a welcome bonus of 10 USDT, and complete the KYC verificationto access all BTCC’s features and BTCC bonus. Once verified, you can start trading LUNCnow.

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