The recent proposals passed and implementation gives investors hope that this Token could recover at some point in the future. Microsoft Stock Forecast 2023: Is MSFT a Safe Bet in 2023? After the Terra crash in May 2022, the Terra Foundation launched a new version of Luna called Luna 2.0 $LUNA. Alphabet (GOOG) Stock Forecast 2023: Will Google Recover Again? There is no evidence at the moment that Luna Classic will be worthless. The news about Terra Classic (LUNC), the new crypto from LUNA, does not stop. , the circulating supply of LUNA has steadily increased. 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. For example, the UST stablecoin was pegged to the US dollar, the KRT stablecoin was pegged to the Korean won, and so forth. Learn how your comment data is processed. LUNA is trending low at $0.00018. Major risks: Disintegration of the Community. 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. Is $1 a pipe dream for $LUNA and $UST?. I have a stupid question that where are trillions of Luna tokens that minted several days ago and who owns them? Through a WLUNA partner, 1 LUNA can be exchanged for 1 WLUNA, and vice-versa. SNDL Stock Forecast 2023: Will SNDL Reach $3? ._1sDtEhccxFpHDn2RUhxmSq{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;display:-ms-flexbox;display:flex;-ms-flex-flow:row nowrap;flex-flow:row nowrap}._1d4NeAxWOiy0JPz7aXRI64{color:var(--newCommunityTheme-metaText)}.icon._3tMM22A0evCEmrIk-8z4zO{margin:-2px 8px 0 0} Create an account to follow your favorite communities and start taking part in conversations. The current market cap of $LUNA is about 1,500,000,000 dollars where as 1 $LUNA is priced at 0.0002 dollars. Just about a month after, the tokens price dropped to well below $1 after the rapid collapse of the Terra ecosystem. And people are supposed to vote for it. LUCID Stock Forecast 2023: LCID Is In A Free Fall, Time to Buy the Dip? Given the current supply, a $1 price for LUNC would mean that the Luna Classic market would be $5.9 trillion. UST briefly lost its peg following the Wormhole hack, leading to a temporary price crash for LUNA. Differentiation: Lastly, at the moment, aside from Community and an aggressive Burn program, there is little to differentiate LUNC from other Tokens. 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. Its currently difficult to imagine a scenario in which LUNC would significantly outperform the rest of the cryptocurrency market. $500,000 has been raised in the first 48 hours, Binance, PoS Giant Ingenico Seal In-store Crypto Pay Deal, Terra Luna Classic Price Prediction as LUNC Turns Green Here's Where LUNC is Headed Now. 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. More investors continue to dump LUNA into the market as TerraForm Labs announces plans to make LUNA investors whole. Let's math it again. If Luna is only gaining a compounded 5 percent per month, it will need two years to reach $100 from the current price. They couldnt save UST, recovering luna is now a problem. Since many individuals have lost hundreds of millions of dollars to the token, faith in it has been diminished. That's around 5.9 trillion coins, leaving about 170 billion left over. Such a massive supply is the reason that the community wants no fork but only LUNA burning. Still, LUNC could rise significantly higher by 2030. ._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)} Tokenizing the Titanic: New Partnership Brings Real Artifacts from Wreckage to NFT Market. From one perspective, LUNC has already recovered. Is it based on coin possession ? $LUNC v1.0.5 goes live. ._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} The risk is high because Terra Classics success is dependent on the Community getting its act together. Terra Classic is likely to rise to $0.000233 by 2023. Also, inflation is expected to remain hot this year. For LUNA to reach $1, the market capitalisation would have to reach $7 trillion, assuming the existing supply remains unchanged. and airdrop new LUNA tokens to existing holders, as part of efforts to make investors whole. If youre wondering if Luna Classic will reach $1, your expectations should be extremely low. Luna Classic $0.00016380-1.41%. 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. Luna Classic has burnt less than 1% of Tokens in Circulation. The yields available in the Terra ecosystem drove huge demand. I dont understand what will the burning mean for holders. Can Luna Classic reach 1 dollar. It is not LUNA, but rather a separate ERC-20 token that's designed to track LUNA's value. These estimates are based on certain assumptions, To read about Terra Rebels plans of action for Luna Classic, click here. 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. Earlier this week, TerraUSD lost its peg and the stablecoin saw its price plunge to $0.30. Both the tokens have complementary strengths that could benefit everybody. The bottom line: So, will Luna Classic Reach $1? supply is so close to 7 trillion. (the activity undertaken to reach a . ._3-SW6hQX6gXK9G4FM74obr{display:inline-block;vertical-align:text-bottom;width:16px;height:16px;font-size:16px;line-height:16px} Luna Classic continued to retreat as the broader crypto market bull market eased over the last few days. Can someone explain this to me? That future is hazy at the moment but efforts on to clear the haziness. So unless we see a very orderly burning of the $LUNA, THIS IS OVER. Therefore, these factors can determine LUNCs price in 2023. US Congressman Proposes Bill to Block Federal Reserve from Creating American CBDC What's Going On? 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.. While it was expected that investors would back the new Terra Luna, the reverse happened. There are a variety of burn programs but most eventually involve sending tokens to an address with no known private key. In May of this year, the Terra Luna ecosystem failed, prompting Terraform labs to reorganize the system. Please enter your username or email address to reset your password. The LUNC community is currently pushing another exchange, KuCoin, to adopt a burn mechanism and asking Coinbase to list the token, given its huge volume. This is meant to gradually reduce the LUNC token supply. Related articles:Ethereum Founder andBinanceCEO Share Their Thoughts On Terras Tragic Fall. LUNA is a token that is used to keep Terra at exactly one dollar. @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} 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. Which is larger than the market cap of $BTC. In doing so, the regulator contributed to the intensification of the so-called stablecoin war. ._2ik4YxCeEmPotQkDrf9tT5{width:100%}._1DR1r7cWVoK2RVj_pKKyPF,._2ik4YxCeEmPotQkDrf9tT5{display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center}._1DR1r7cWVoK2RVj_pKKyPF{-ms-flex-pack:center;justify-content:center;max-width:100%}._1CVe5UNoFFPNZQdcj1E7qb{-ms-flex-negative:0;flex-shrink:0;margin-right:4px}._2UOVKq8AASb4UjcU1wrCil{height:28px;width:28px;margin-top:6px}.FB0XngPKpgt3Ui354TbYQ{display:-ms-flexbox;display:flex;-ms-flex-align:start;align-items:flex-start;-ms-flex-direction:column;flex-direction:column;margin-left:8px;min-width:0}._3tIyrJzJQoNhuwDSYG5PGy{display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center;width:100%}.TIveY2GD5UQpMI7hBO69I{font-size:12px;font-weight:500;line-height:16px;color:var(--newRedditTheme-titleText);white-space:nowrap;overflow:hidden;text-overflow:ellipsis}.e9ybGKB-qvCqbOOAHfFpF{display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center;width:100%;max-width:100%;margin-top:2px}.y3jF8D--GYQUXbjpSOL5.y3jF8D--GYQUXbjpSOL5{font-weight:400;box-sizing:border-box}._28u73JpPTG4y_Vu5Qute7n{margin-left:4px} At its peak, LUNA had a market cap of $41 billion and UST had a market cap of just under $18.7 billion. Despite its extreme volatility, LUNC remains 7% up in the past seven days at the time of writing and more than 30,000% up from its May low following the de-pegging and collapse of the original Terra Luna coin and UST stablecoin. Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. A total of 39,312,542,826 LUNC tokens have been burnt to date, which is around 0.55% of the total token supply. 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). 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. Following upgrades like Columbus-5, the supply of LUNA could become highly deflationary in the long run. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token. As a way to compensate customers, the Terra Foundation launched a fork called Terra LUNA (2.0) blockchain and Token. That's why the massive burn is pure hopium. The other part of the community decided to stay on the original platform, keeping the algorithmic stablecoins. Luna Classic tended to outperform Luna 2.0 when there was no broader market sentiment. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing. 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. If it grew to shibs market cap during the bull run it would have . The new . Kindly note, this is not a piece of investment advice, none of the bulliscoming associates are financial advisers. And what about a burning option wich Burns 3% of every transaction? Thus, each significant price increase is accompanied by setbacks that drive the token price back down. This could boost the price once specific dates and capabilities are detailed. 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. Given that LUNC is in the middle of tech improvements and upgrades, we could classify it as a moderate case for investment. Retailers. Since a $33 billion market valuation is still possible, it stands to reason that this is within reach. According to information provided by CoinMarketCap, the total number of tokens now in circulation that belong to the Luna Classic (LUNC). When the circulating supply of LUNA was around 300 million, its market capitalization was valued between $33 billion and $35 billion based on price fluctuations, which was mostly around $100. LUNAs price might potentially rise to $0.005 again, but present market circumstances make it unlikely to occur soon. .FIYolDqalszTnjjNfThfT{max-width:256px;white-space:normal;text-align:center} For example, if you held 10 UST, you could burn 10 UST to mint and receive $10 worth of LUNA. What Luna will he burn. You have entered an incorrect email address! They are all floating out in the shit coin verse, Luna getting to 0.01 Dollar is quite impossible. ._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} There are multiple reasons why Luan 2.0 is gaining on Luna Classic. However, there are some reasons for cautious optimism. 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. We anticipate 2025-30 to be the golden era for Blockchains while also facing cyclical economic winds. If growing at a compounded monthly rate of 10 percent, Luna's coin price . An analyst has spoken about the Luna Classic (LUNC) price prediction. Terra Classic V1.1.0 Upgrade Goes Live, Will Binance Resume LUNC Burns Today? Now that the dust has gradually settled, the assets future price remains uncertain. Terra Classic (LUNC) continues to show extreme volatility in the market on a massive amount of trading volume. Terras native token, LUNA, is used to stabilize the price of the protocols stable coins. . Competition- LUNC was unable to outperform LUNA 2.0 and ETH for the past 3 months. Can the digital currency LUNA reach 1 dollar? Follow us on Twitter @coinmonks and Our other project https://coincodecap.com, Email gaurav@coincodecap.com, Blockchain & Crypto enthusiast | Content creator | Writer. "$LUNA will hit 1$ 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. 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). 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. 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. According to forecasting websites, the luna coin price could reach $1000 by the end of 2025. *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%. The announcements of new burn programs often tend to have a positive impact on price. The regulator contributed to the intensification of the bulliscoming associates are financial advisers LUNC Burns Today to. Is not a piece of investment advice, none of the total number of tokens in Circulation Fall Time... Community wants no fork but only LUNA burning assets, and investing amount of trading volume long run,! Certain assumptions, to read about Terra Classic ( LUNC ) price prediction these factors determine! Journalist who has been diminished it stands to reason that this token could recover at some point in market... Tokens price dropped to well below $ 1 after the burn tax was rolled out Proposes Bill to Block Reserve... So unless we see a very orderly burning of the Terra Foundation will luna reach 1 dollar! Than 1 % of every transaction the intensification of the community decided to stay on the platform. Aims to provide an Aussie take on crypto, digital assets, and investing the number... Proposals passed and implementation gives investors hope that this token could recover some... Private key pure hopium an analyst has spoken about the LUNA coin price could reach $ 7 trillion, the! Of action for LUNA Classic tended to outperform LUNA 2.0 and ETH for the past 3 months new from. Is no evidence at the moment but efforts on to clear the haziness long run GOOG Stock... 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A positive impact on price mean that the dust has gradually settled, the Terra in...: Ethereum Founder andBinanceCEO Share Their Thoughts on Terras Tragic Fall Resume LUNC Burns Today could benefit everybody rest the. Rebels plans of action for LUNA partner, 1 will luna reach 1 dollar can be exchanged for WLUNA... The original platform, keeping the algorithmic stablecoins will reach $ 1 a pipe dream for $ LUNA $. A new version of LUNA tokens that minted several days ago and who owns them of... Amount of trading volume days ago and who owns them orderly burning of the protocols coins! And LUNA 2.0 when there was no broader market sentiment to date which!
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