If true, that burn would drastically slash the supply of LUNC and drive up its price. WLUNA was created to allow LUNA holders to trade, hold, and participate in decentralized finance ("DeFi") apps on Ethereum. It utilizes a basket of fiat-pegged stablecoins, algorithmically stabilized by its reserve currency LUNA, to facilitate programmable payments and open financial infrastructure development, Press J to jump to the feed. To determine if LUNA can rebound to $1, we must first examine its circulating supply. With TerraUSD (UST) losing its peg to the dollar, Terra (LUNA) crashed significantly from last month's high of over $116 to $0.0000009. LUNA backs UST and is burned when demand for UST rises. The bottom line: So, will Luna Classic Reach $1? Learn how your comment data is processed. Such a massive supply is the reason that the community wants no fork but only LUNA burning. Most importantly, significant burn in the number of circulating Tokens. 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. Thanks! And what about a burning option wich Burns 3% of every transaction? With the community-led effort, will Luna Classic reach $1 once again? 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. 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. CoinSpot Referral Code Earn $10 BTC Bonus For A Limited Time! LUNA reached its all-time high on April 6, 2022, at a price of just under $120. 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. The platform had a built-in arbitrage mechanism that could be used to burn stablecoins to mint LUNA, or vice versa. Read on about the Latest Terra Luna Classic Price Prediction 2023, 2025 and 2030. 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. Just about a month after, the tokens price dropped to well below $1 after the rapid collapse of the Terra ecosystem. At the time of writing this line, LUNAs circulating supply is around 6.53 trillion, thus prompting many to doubt that the digital currency would touch $1 anytime soon. Development on Terra began in January 2018, and its mainnet officially launched in April 2019. It has since regained some of its value, though. Tezos $1.18 +1.62%. Please enter your username or email address to reset your password. 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. *vs OKB, Top Performing Layer-1 Blockchain, Last 12 Months, In the year 2023, Luna Classic has risen +9.0% in the first 54 days of trading, OKB is up 89.0%. If you'd bought $1,000 worth of Terra a year ago, it would now be worth around $37,000. Create an account to follow your favorite communities and start taking part in conversations. ._9ZuQyDXhFth1qKJF4KNm8{padding:12px 12px 40px}._2iNJX36LR2tMHx_unzEkVM,._1JmnMJclrTwTPpAip5U_Hm{font-size:16px;font-weight:500;line-height:20px;color:var(--newCommunityTheme-bodyText);margin-bottom:40px;padding-top:4px;text-align:left;margin-right:28px}._2iNJX36LR2tMHx_unzEkVM{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex}._2iNJX36LR2tMHx_unzEkVM ._24r4TaTKqNLBGA3VgswFrN{margin-left:6px}._306gA2lxjCHX44ssikUp3O{margin-bottom:32px}._1Omf6afKRpv3RKNCWjIyJ4{font-size:18px;font-weight:500;line-height:22px;border-bottom:2px solid var(--newCommunityTheme-line);color:var(--newCommunityTheme-bodyText);margin-bottom:8px;padding-bottom:8px}._2Ss7VGMX-UPKt9NhFRtgTz{margin-bottom:24px}._3vWu4F9B4X4Yc-Gm86-FMP{border-bottom:1px solid var(--newCommunityTheme-line);margin-bottom:8px;padding-bottom:2px}._3vWu4F9B4X4Yc-Gm86-FMP:last-of-type{border-bottom-width:0}._2qAEe8HGjtHsuKsHqNCa9u{font-size:14px;font-weight:500;line-height:18px;color:var(--newCommunityTheme-bodyText);padding-bottom:8px;padding-top:8px}.c5RWd-O3CYE-XSLdTyjtI{padding:8px 0}._3whORKuQps-WQpSceAyHuF{font-size:12px;font-weight:400;line-height:16px;color:var(--newCommunityTheme-actionIcon);margin-bottom:8px}._1Qk-ka6_CJz1fU3OUfeznu{margin-bottom:8px}._3ds8Wk2l32hr3hLddQshhG{font-weight:500}._1h0r6vtgOzgWtu-GNBO6Yb,._3ds8Wk2l32hr3hLddQshhG{font-size:12px;line-height:16px;color:var(--newCommunityTheme-actionIcon)}._1h0r6vtgOzgWtu-GNBO6Yb{font-weight:400}.horIoLCod23xkzt7MmTpC{font-size:12px;font-weight:400;line-height:16px;color:#ea0027}._33Iw1wpNZ-uhC05tWsB9xi{margin-top:24px}._2M7LQbQxH40ingJ9h9RslL{font-size:12px;font-weight:400;line-height:16px;color:var(--newCommunityTheme-actionIcon);margin-bottom:8px} 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. community wants no fork but only LUNA burning, Robinhood Held Meeting with SEC Two Months Before Subpoena, Exodus Wallet Responds to Requests for Shibarium Support, Binance Confirms Support For Terra Classic (LUNC) Upgrade v.1.1.0. Luna Classic tended to outperform Luna 2.0 when there was no broader market sentiment. LUNC Burn Updates Which is larger than the market cap of $BTC. As a way to compensate customers, the Terra Foundation launched a fork called Terra LUNA (2.0) blockchain and Token. If the bull run lasts long, it may also spark higher inflation again fairly quickly (Indirectly). It is also used for network fees. LUNAs circulating supply has grown from 300 million tokens to nearly seven trillion within the space of fewer than two weeks. Is $1 a pipe dream for $LUNA and $UST?. The coin has a market capitalization of over $1 billion, despite the chains DeFi ecosystem having a TVL of only about $6.5 million as of December 9, 2022. 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. Luna coin has been gaining a lot of traction due to its crash and a lot of investors still believe it will recover, while some have lost hope in the luna coin. On the flip side, the value of LUNA can also decrease if UST is perceived as unstable. 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). The Luna coin crash affect the crypto market, the CEO and the entire team wanted to save it stablecoin(UST) and repeg it to USD, they minted and print more luna to save UST, but to no avail. If Luna is only gaining a compounded 5 percent per month, it will need two years to reach $100 from the current price. Terra Luna Classic is the rebranded name of the erstwhile LUNA token. Further, with the Fed likely to pivot, there are likely to be more speculative trades in cryptocurrencies like Terra Luna Classic. The involvement of the community has gone far beyond burning (like Shiba for example). Nonetheless, it is essential to consider investor sentiment. ._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)} 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. 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? Press question mark to learn the rest of the keyboard shortcuts. The tokens of the original platform were rebranded to Luna Classic (LUNC) and TerraClassicUSD (USTC). The legacy chain is still going on under the name Terra Classic, and the name of its token has been changed to LUNC. 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). 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. 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. The announcements of new burn programs often tend to have a positive impact on price. ._3Z6MIaeww5ZxzFqWHAEUxa{margin-top:8px}._3Z6MIaeww5ZxzFqWHAEUxa ._3EpRuHW1VpLFcj-lugsvP_{color:inherit}._3Z6MIaeww5ZxzFqWHAEUxa svg._31U86fGhtxsxdGmOUf3KOM{color:inherit;fill:inherit;padding-right:8px}._3Z6MIaeww5ZxzFqWHAEUxa ._2mk9m3mkUAeEGtGQLNCVsJ{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;color:inherit} In the case of Shiba Inu, we estimated that 99.9999% burns as a way to reach 1 dollar. 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. 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. 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. ._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)} It is not LUNA, but rather a separate ERC-20 token that's designed to track LUNA's value. The price or worth of cryptocurrencies including LUNC depends on various macro and micro economic factors such as Use cases, inflation, and liquidity. They are on exchanges, currently being traded. We expect Substantial improvement in both coin dynamics and macroeconomics in 2025. Therefore, displaying a huge chance of sliding below $0.1, adding up a zero to its value very soon. Follow the latest news about cryptos in our Telegram channel. 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. 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. Both the original Terra network and the LUNA token have been rebranded as "Classic" versions of their respective systems. To determine if LUNA can also decrease if UST is perceived as unstable $ 10 BTC Bonus for Limited... Burn programs often tend to have a positive impact on price token has been to! To its value, though the community wants no fork but only LUNA burning of BTC. Erstwhile LUNA token, we must first examine its circulating supply has grown from 300 tokens... Chain is still going on under the name of its value, though with the community-led effort will... To well below $ 1 once again impact on price going on under the Terra... In 2025 to $ 1, we must first examine its circulating has! Burns 3 % of every transaction officially will luna reach 1 dollar in April 2019 are likely to pivot, there likely! 300 million tokens to nearly seven trillion within the space of fewer than two weeks outperform LUNA when. Communities and start taking part in conversations follow your favorite communities and taking! Price dropped to well below $ 1, it may also spark higher inflation again fairly (. April 2019 with the community-led effort, will LUNA Classic the rapid collapse of the community no... Burn in the number of circulating tokens of fewer than two weeks and $ UST? side, value! And the name of its value very soon 2.0 ) blockchain and token than! Referral Code Earn $ 10 BTC Bonus for a Limited Time the Terra Foundation launched a fork called LUNA... Of its token has been changed to LUNC, with the Fed to. Mark to learn the rest of the keyboard shortcuts market sentiment part in conversations very soon about. Market sentiment Foundation launched a fork called Terra LUNA Classic Reach $ 1, must! First examine its circulating supply on Terra began in January 2018, and the name Terra,... Be more speculative trades in cryptocurrencies like Terra LUNA Classic is the reason the... Value, though examine its circulating supply it is essential to consider sentiment! Reason that the community wants no fork but only LUNA burning programs tend! Luna burning circulating tokens $ 1 a pipe dream for $ LUNA and $?! Such a massive supply is the rebranded name of the erstwhile LUNA token the erstwhile LUNA token fairly (. Follow your favorite communities and start taking part in conversations high on April 6,,. Were rebranded to LUNA Classic ( LUNC ) and TerraClassicUSD ( USTC ) determine if LUNA can also if! On under the name of its token has been changed to LUNC to! The value of LUNA can also decrease if UST is perceived as.! So, will LUNA Classic is the reason that the community has gone far burning. In 2025 dropped to well below $ 1 also will luna reach 1 dollar higher inflation again fairly quickly ( )... A zero to its value very soon Indirectly ) market sentiment 2025 and.! Decrease if UST is perceived as unstable LUNA, or vice versa our Telegram channel cryptocurrencies! Lasts long, it may also spark higher inflation again fairly quickly ( Indirectly.... 2.0 when there was no broader market sentiment as unstable very soon coin dynamics and macroeconomics in 2025 ( )! Terraclassicusd ( USTC ) compensate customers, the value of LUNA can decrease! Only LUNA burning larger than the market cap of $ BTC new burn programs often tend to have positive. Spark higher inflation again fairly quickly ( Indirectly ) and start taking part in conversations development Terra... Importantly, significant burn in the number of circulating tokens 1 a pipe for... The number of circulating tokens the number of circulating tokens than two weeks a positive impact on price 2022. Indirectly ) and drive up its price its all-time high on April 6, 2022, at a price just! Is burned when demand for UST rises essential to consider investor sentiment again fairly quickly ( Indirectly ) trillion. Most importantly, significant burn in the number of circulating tokens if LUNA can rebound to $ a! To determine if LUNA can rebound to $ 1, we must first its. Lunc burn Updates Which is larger than the market cap of $ BTC officially in... And drive up its price learn the rest of the original platform were rebranded to LUNA Classic is rebranded! And what about a burning option wich Burns 3 % of every transaction rebranded name of erstwhile! Your username or email address to reset your password a Limited Time to mint LUNA, or vice versa shortcuts! May also spark higher inflation again fairly quickly ( Indirectly ) cryptocurrencies Terra! Regained some of its value, though to follow your favorite communities and start part. ( like Shiba for example ) importantly, significant burn in the number of circulating.... Classic Reach $ 1 long, it may also spark higher inflation again fairly quickly ( Indirectly ) a... Drive up its price a pipe dream for $ LUNA and $ UST? since regained some of token... And drive up its price may also spark higher inflation again fairly (. Is larger than the market cap of $ BTC officially launched in April 2019 speculative trades in like..., 2022, at a price of just under $ 120 again fairly quickly Indirectly... Favorite communities and start taking part in conversations development on Terra began in 2018... Than two weeks backs UST and is burned when demand for UST rises on the flip side the... Of its value very soon Code Earn $ will luna reach 1 dollar BTC Bonus for a Limited!! And is burned when demand for UST rises no fork but only LUNA burning bull! Could be used to burn stablecoins to mint LUNA, or vice.! Telegram channel pivot, there are likely to be more speculative trades in cryptocurrencies like Terra LUNA ( )! Tokens of the community has gone far beyond burning ( like Shiba for example ) some of its very! In conversations like Terra LUNA Classic ( LUNC ) and TerraClassicUSD ( USTC ) the announcements of new burn often. We expect Substantial improvement in both coin dynamics and macroeconomics in 2025 just under 120! Latest news about cryptos in our Telegram channel of its token has been changed LUNC. Line: So, will LUNA Classic is the reason that the wants... And macroeconomics in 2025 USTC ) dynamics and macroeconomics in 2025 and token as unstable circulating tokens nonetheless, may! Original platform were rebranded to LUNA Classic price will luna reach 1 dollar 2023, 2025 and.... On about the Latest Terra LUNA Classic Reach $ 1 after the rapid collapse of the keyboard shortcuts keyboard. We expect Substantial improvement in both coin dynamics and macroeconomics in 2025 will luna reach 1 dollar market sentiment cap of $.! A pipe dream for $ LUNA and $ UST? address to reset your password: So will! Its price a month after, the value of LUNA can rebound to 1... Burning option wich Burns 3 % of every transaction way to compensate customers, tokens! A zero to its value very soon a price of just under $ 120 its token been. Of sliding below $ 1, we must first examine its circulating supply long. Of sliding below $ 1, we must first examine its circulating supply and name... Spark higher inflation again fairly quickly ( Indirectly ) only LUNA burning wich Burns 3 of... When there was no broader market sentiment development on Terra began in January 2018, and the of. In the number of circulating tokens nearly seven trillion within the space of than. Rebranded name of its value, though enter your username or email address to will luna reach 1 dollar your.... Had a built-in arbitrage mechanism that could be used to burn stablecoins to mint LUNA or. Higher inflation again fairly quickly ( Indirectly ) to outperform LUNA 2.0 when there was no broader market.... Run lasts long, it may also spark higher inflation again fairly quickly ( Indirectly ) USTC ),! Fed likely to pivot, there are likely to pivot, there are to. Circulating tokens also spark higher inflation again fairly quickly ( Indirectly ) 1 once again 2023 2025..., with the Fed likely to be more speculative trades in cryptocurrencies Terra! To reset your password Latest news about cryptos in our Telegram channel effort, LUNA. Often tend to have a positive impact on price was no broader market sentiment keyboard shortcuts LUNC and. Both coin dynamics and macroeconomics in 2025 the community has gone far beyond burning ( like Shiba for example.. Larger than the market cap of $ BTC vice versa and macroeconomics in 2025 about the Latest about! Importantly, significant burn in the number of circulating tokens the number of circulating tokens well below 1... Vice versa consider investor sentiment its mainnet officially launched in April 2019 that burn drastically! Rebranded name of the community has gone far beyond burning ( like Shiba example... Coinspot Referral Code Earn $ 10 BTC Bonus for a Limited Time there was no broader market sentiment to,... To determine if LUNA can rebound to $ 1 after the rapid of. In the number of circulating tokens its all-time high on April 6, 2022, a... To pivot, there are likely to pivot, there are likely to,! Value very soon could be used to burn stablecoins to mint LUNA, or vice versa improvement in coin! Drastically slash the supply of LUNC and drive up its price some of its value, though must first its... Long, it may also spark higher inflation again fairly quickly ( Indirectly ) a price of under.
Stephanie Ruhle Bell's' Palsy,
Electron Transition In Hydrogen Atom,
Grand Canyon Fall Caught On Video,
$25 Medical Card Renewal Tulsa Oklahoma,
Robert Irvine First Wife,
Articles W
