Terra Luna Classic Price Prediction, will LUNC’s price hit $0.00039?
Terra Luna Classic’s price at the same time last week was $0.00014. It has moved by -24.48 % in the past week and is currently at $0.00017. Infact, in the past 24 hours, LUNC has dumped by -13.12 %. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and LUNC could hit $0.00039 in 2024.
The total circulating supply of Terra Luna Classic as of writing this article was $5832487979587.02 and the marketcap of LUNC remains at $1,030,737,613
Disclaimer
For some coins with little to no data points and inexistent historical data the model by default will show a positive price prediction. There is no way for our AI bot to decipher whitepaper, tokenomics and team integrity. The coin's price that you are about to see below can fall drastically depending on many factors, so please invest wisely after checking the team and project's whitepaper. This current price prediction is done by a machine crunching numbers and the model is still in the early beta stages. It should strictly not be taken as an investment advice. Although the best engineers are currently tweaking and updating the algorithm, no human has verified the price predicted below, so please use your discretion and make a decision wisely.
About Terra Luna Classic
Terra Luna Classic (LUNC): An overview
Source: LUNC classic community/X
Terra Luna Classic is a cutting-edge open-source blockchain protocol renowned for its capability to host a dynamic ecosystem of decentralized applications (dApps) and offer advanced development tools. This platform is uniquely built on the Cosmos SDK, distinguishing itself in the blockchain space.
At its core, Terra Luna Classic is designed to pioneer the next generation of decentralized finance (DeFi) by leveraging the Tendermint consensus mechanism, a proof-of-stake (PoS) system. The Terra Luna Classic network is tailored to support a broad spectrum of DeFi services. These include decentralized exchanges (DEXs), lending platforms, and a variety of financial applications that operate autonomously without the need for central authorities.
A key feature of Terra Luna Classic is its integration with smart contract functionality. This allows for the creation and execution of complex agreements and applications directly on the blockchain.
What is LUNC?
LUNC, the native token of Terra Luna Classic, is central to its ecosystem, mainly via staking. In staking, LUNC holders allocate their tokens to aid the network's functions, such as transaction validation. Stakers receive rewards, typically more LUNC tokens, for their support. Additionally, token holders can delegate their LUNC to validators, sharing in any revenue generated.
Luna Classic tokenomics
The tokenomics of LUNC can be summarized as follows:
- Total supply: The total supply of LUNC tokens, as of December 2023, is 6.822 trillion.
- Circulating supply: As of December 2023, 5.834 trillion LUNC are in circulation.
- Community pool: The community pool contains around 3.208 billion LUNC tokens. These tokens are typically allocated for community initiatives, development projects, or other purposes as determined by the governing body or community consensus of the Terra Luna Classic network.
- Pool staking: At present, 985.455 billion LUNC tokens are staked in the network.
The origin of Terra Luna Classic
Source: LUNC classic community/X
Terra Luna Classic is the rebranded version of the original Terra (LUNA) cryptocurrency, which emerged from Terraform Labs, co-founded by Do Kwon and Daniel Shin. Terra was a blockchain ecosystem featuring a stablecoin called TerraUSD (UST) and its sister token, LUNA. These two formed an algorithmic stablecoin system designed to maintain a 1:1 value with the US dollar. Luna acted as a floating rate cryptocurrency to support UST's dollar peg.
After its launch, Terraform Labs conducted an Initial Coin Offering (ICO) for the LUNA token in early 2019. The success of Terra saw it rise to become one of the top 10 cryptocurrencies by market capitalization.
The Terra collapse
In May 2022, the Terra ecosystem faced a devastating collapse, wiping out billions of dollars in market value. Central to this collapse was the Anchor protocol, a blockchain-based borrowing and lending platform.
To promote the use of its stablecoin, UST, the Anchor protocol offered an exceptionally high yield of 19.5% to depositors of UST. This attractive yield led to a substantial increase in the issuance of UST. However, as the volume of deposits surged, the financial burden to sustain these high yields became unsustainable.
By April 2022, the cost to maintain these yields reached about $6 million per day. During April 2022, early indicators of instability in the network began to surface. The value of LUNA started to decline. Concurrently, there was a reduction in new users joining the Anchor protocol, coupled with an increase in existing users leaving the platform.
The first signs of a crisis in the Terra ecosystem emerged on May 7, 2022, when several large holders withdrew substantial amounts of UST from Anchor. As the exchange of UST for LUNA accelerated, UST struggled to perform as intended amidst massive sell-offs. This failure led to UST losing its peg to the US Dollar.
The ensuing loss of stability caused a rapid devaluation of LUNA. In an attempt to stabilize UST's value, more LUNA was created, but this only exacerbated the situation, leading to hyperinflation from 1 billion to over 6 trillion and further devaluation of LUNA's worth. Once valued highly, LUNA suffered a nearly 99% loss in its value as its price plummeted to a mere fraction of a dollar.
This devaluation of UST and LUNA led to a significant loss of investor confidence in the Terra ecosystem and had a pronounced negative impact on the broader cryptocurrency market. This event was marked as one of the most significant collapses in the history of cryptocurrency.
What happened after Terra collapsed?
In the aftermath, the Terra blockchain was forked. Thus, two Terra blockchains now function parallelly:
- The original Terra blockchain with the token rebranded to “Luna Classic (LUNC).”
- A newly launched blockchain protocol called Terra 2.0 with its native token called “LUNA.”
The aim of Terra 2.0 was to inherit all the protocols and applications of the former network. There was also a significant update related to the network's stablecoins.
All of the original network stablecoins, including UST, KRT, and EUT, underwent a renaming process. They were then known as Terra Classic stablecoins, designated as Terra Classic USD (USTC), TerraClassicKRW (KRTC), and TerraClassic EUT (EUTC), respectively.
Notably, the new blockchain iteration did not feature any "Terra" branded stablecoins. This distinction further differentiated the original from the new chain, reinforcing the legacy of the former while setting the stage for the innovations and offerings of the latter.
LUNC community
Source: LUNC classic community/X
Despite the introduction of a new Terra blockchain, the Luna Classic community has remained resilient and active. Many members of the community, including investors and traders, have expressed opposition to Kwon's plan for restoring the blockchain.
Moreover, the community is actively pursuing a variety of initiatives aimed at revitalizing the legacy project, demonstrating its commitment to its ongoing development and sustainability.
LUNC burning
In an effort to redress the damages from over-minting, the community initiated a token burn mechanism. This initiative began with a burn rate of 1.2% for every LUNC transaction, aiming to reduce the supply from 6.8 trillion to 10 billion. The intention was not just to limit supply but to bolster its demand and value, especially in the aftermath of a substantial market crash.
Validators took a front seat in orchestrating this reduction, and their efforts didn't go unnoticed. Major exchanges, namely Binance and KuCoin, stepped up, backing the burn mechanism, which, in turn, sent encouraging signals to other platforms to support LUNC's recovery. This amalgamation of social traction and exchange support set the stage for the cryptocurrency's potential growth.
Since May 2022, around 85 billion LUNC have been burned. While the initial burn rate was 1.2% per transaction, an adjustment saw it drop to 0.2%, aiming to invigorate blockchain activity.
However, this rate wasn't impactful enough on the circulating supply. Recognizing this, a proposal was made in March 2023, and by May of the same year, the burn rate was elevated to 0.5%.
Binance has significantly contributed to the burning of LUNC tokens. To date, they have burned over 40 billion LUNC, accounting for over half of the total LUNC burned. On December 1, 2023, in their 16th batch of LUNC burning, Binance burned nearly 4 billion LUNC tokens.
Will LUNC reach $1?
The Luna Classic Community has been actively involved in several initiatives aimed at increasing the value of LUNC, targeting a goal above the $1 mark. One notable effort is a recent proposal designed to re-enable the market module.
This strategic move is expected to assist USTC in regaining its dollar parity, which could positively influence LUNC’s value. In parallel, Daniel Hong, a former developer for Terra, has introduced a new stablecoin named Mint Cash, which is backed by Bitcoin (BTC).
To promote this new cryptocurrency, the team has planned an airdrop for holders of LUNC and USTC. This announcement has spurred increased trading activity around LUNC, contributing to a rise in its value.
Moreover, In December 2023, the Terra Classic community passed Proposal 11888, which proposed reducing the network's validator count from 135 to 100. This sparked a lively debate among community members due to concerns about potential centralization, which could undermine the fundamental decentralized ethos of blockchain networks.
Subsequently, Terra Classic's community approved Proposal 11889, introducing a "Pay-per-job and governance-ruled Job List" model. Garnering an impressive 91.99% approval in "Yes" votes, this proposal aims to supplant the existing monthly compensation model, which was seen as less effective.
On the technical front, the Terra Luna Classic network marked a significant milestone on December 8, 2023, with the successful implementation of version 2.3.2. This update was executed at block 15751600 and represents a key step in the network's ongoing development.
Terra Luna Classic (LUNC) Price Analysis
The trading activity of LUNC on its daily chart revealed a significant dominance by the bulls, especially evident in the observed price movements. Initially, the market witnessed a consolidation phase, where the price oscillated between $0.000061 and $0.000069.
LUNC daily chart
After the first week of November, a notable upward momentum emerged, propelling the price to test the higher resistance at $0.000094. However, this surge was short-lived, resulting in a rejection at this level, which subsequently led to a minor pullback.
The price eventually retracted to $0.000069, a level that the bulls effectively utilized as a foundation for a renewed upward push. This bullish sentiment was further bolstered by Binance’s announcement of launching a new USTC perpetual contract, adding fuel to the upward trajectory.
In early December, a robust buying momentum was apparent as LUNC reached a peak resistance at $0.000258. Nevertheless, this level also marked a point of rejection, causing a slight decline to a support level of $0.000178. At the time of this analysis, LUNC was trading at $0.000183, with bulls actively attempting to counter any downward pressure.
The trading volume for LUNC closely followed the fluctuations in its price action. Initially, the volume was quite modest, reflecting the period of price consolidation. As the price neared the $0.000094 mark, a temporary increase in trading volume occurred, but it was not sustained.
Subsequently, as the price embarked on its upward trajectory, the trading volume experienced a resurgence, indicating heightened market activity. However, this increase in volume slightly tapered off when the price encountered resistance at its peak, showcasing the market's response to the shifting price dynamics.
The On-Balance Volume (OBV) indicator remained relatively stagnant until the close of November. After this period, the OBV mirrored the price's ascent, indicating a growing buying interest. As the price was rejected from its peak, a minor downward shift in the OBV was also noted, reflecting the slight decrease in buying momentum.
The Moving Average Convergence Divergence (MACD) further corroborated the bullish sentiment in the market. The MACD line consistently stayed above the signal line for most of the analyzed time frame, only dipping below following the first price rejection.
As the bulls regained strength, the MACD line ascended once again, suggesting a revival in bullish momentum. The histogram mostly displayed positive values, aligning with the bullish market sentiment, and only briefly shifted to negative following the initial rejection, quickly reverting to positive as the price climbed.
As the analysis concluded, the histogram stood at 0.0000009, with the signal line at 0.000030 and the MACD line at 0.000031.
Should you consider buying LUNC?
Based on the indicators examined, LUNC appears to offer a promising opportunity for traders. Additionally, external elements such as Binance's token burn of LUNC and initiatives from the Terra Classic community have favorably influenced this perspective.
Nevertheless, the recent slight downturn indicates a need for caution. Traders should vigilantly observe the current support level, as a breach below this level could precipitate further declines.
LUNC target price
Traders contemplating an entry into LUNC can likely target a buying range between $0.000068 and $0.000076. However, it's crucial to note that market conditions can rapidly change, and investors should exercise due diligence and consider risk management strategies in their decision-making process.
Terra Luna Classic Price Prediction
Terra Luna Classic has had an eventful 2021. To simplify the latest LUNC price prediction, we have divided up the prediction by short term Terra Luna Classic price prediction and long term Terra Luna Classic price prediction. As of writing this article, LUNC had a trading volume of 392,378,875. Terra Luna Classic has gone up by 111.84% in the past 30 days.
According to our analysis in the short term, Terra Luna Classic price prediction for February 2024 shows the average price of LUNC at 0.00028 and the highest possible price for February 2024 would be $0.0003.
Further, according to our analysis in the long term, Terra Luna Classic price prediction for June 2024 shows the average price of LUNC at 0.0003 and the highest possible price for June 2024 would be $0.00032.
Terra Luna Classic's Short Term Price Prediction
Date | Avg Price | Lowest Price | Highest Price |
12 December 2023 | $0.63 | $0.58 | $0.67 |
13 December 2023 | $0.77 | $0.71 | $0.82 |
14 December 2023 | $0.84 | $0.78 | $0.9 |
15 December 2023 | $0.94 | $0.88 | $1.01 |
20 December 2023 | $2.07 | $1.92 | $2.21 |
25 December 2023 | $3.28 | $3.05 | $3.50 |
4 January 2024 | $5.95 | $5.54 | $6.37 |
February 2024 | $0.00028 | $0.00026 | $0.0003 |
March 2024 | $0.00029 | $0.00026 | $0.00031 |
April 2024 | $0.00029 | $0.00027 | $0.00031 |
May 2024 | $0.00029 | $0.00027 | $0.00031 |
June 2024 | $0.0003 | $0.00028 | $0.00032 |
July 2024 | $0.0003 | $0.00028 | $0.00032 |
August 2024 | $0.00031 | $0.00028 | $0.00033 |
September 2024 | $0.00031 | $0.00029 | $0.00033 |
October 2024 | $0.00031 | $0.00029 | $0.00034 |
November 2024 | $0.00032 | $0.0003 | $0.00034 |
December 2024 | $0.00032 | $0.0003 | $0.00034 |
Terra Luna Classic price prediction 12 December 2023: Terra Luna Classic's price for 12 December 2023 according to our analysis should range between $0.58 to $0.67 and the average price of LUNC should be around $0.63.
Terra Luna Classic price prediction 13 December 2023: Terra Luna Classic's price for 13 December 2023 according to our analysis should range between $0.71 to $0.82 and the average price of LUNC should be around $0.77.
Terra Luna Classic price prediction 14 December 2023: Terra Luna Classic's price for 14 December 2023 according to our analysis should range between $0.78 to $0.9 and the average price of LUNC should be around $0.84.
Terra Luna Classic price prediction 15 December 2023: Terra Luna Classic's price for 15 December 2023 according to our analysis should range between $0.88 to $1.01 and the average price of LUNC should be around $0.94.
Terra Luna Classic price prediction 20 December 2023: Terra Luna Classic's price for 20 December 2023 according to our analysis should range between $1.92 to $2.21 and the average price of LUNC should be around $2.07.
Terra Luna Classic price prediction 25 December 2023: Terra Luna Classic's price for 25 December 2023 according to our analysis should range between $3.05 to $3.50 and the average price of LUNC should be around $3.28.
Terra Luna Classic price prediction 4 January 2024: Terra Luna Classic's price for 4 January 2024 according to our analysis should range between $5.54 to $6.37 and the average price of LUNC should be around $5.95.
Terra Luna Classic price prediction February 2024: Terra Luna Classic's price for February 2024 according to our analysis should range between $0.00026 to $0.0003 and the average price of LUNC should be around $0.00028.
Terra Luna Classic price prediction March 2024: Terra Luna Classic's price for March 2024 according to our analysis should range between $0.00026 to $0.00031 and the average price of LUNC should be around $0.00029.
Terra Luna Classic price prediction April 2024: Terra Luna Classic's price for April 2024 according to our analysis should range between $0.00027 to $0.00031 and the average price of LUNC should be around $0.00029.
Terra Luna Classic price prediction May 2024: Terra Luna Classic's price for May 2024 according to our analysis should range between $0.00027 to $0.00031 and the average price of LUNC should be around $0.00029.
Terra Luna Classic price prediction June 2024: Terra Luna Classic's price for June 2024 according to our analysis should range between $0.00028 to $0.00032 and the average price of LUNC should be around $0.0003.
Terra Luna Classic price prediction July 2024: Terra Luna Classic's price for July 2024 according to our analysis should range between $0.00028 to $0.00032 and the average price of LUNC should be around $0.0003.
Terra Luna Classic price prediction August 2024: Terra Luna Classic's price for August 2024 according to our analysis should range between $0.00028 to $0.00033 and the average price of LUNC should be around $0.00031.
Terra Luna Classic price prediction September 2024: Terra Luna Classic's price for September 2024 according to our analysis should range between $0.00029 to $0.00033 and the average price of LUNC should be around $0.00031.
Terra Luna Classic price prediction October 2024: Terra Luna Classic's price for October 2024 according to our analysis should range between $0.00029 to $0.00034 and the average price of LUNC should be around $0.00031.
Terra Luna Classic price prediction November 2024: Terra Luna Classic's price for November 2024 according to our analysis should range between $0.0003 to $0.00034 and the average price of LUNC should be around $0.00032.
Terra Luna Classic price prediction December 2024: Terra Luna Classic's price for December 2024 according to our analysis should range between $0.0003 to $0.00034 and the average price of LUNC should be around $0.00032.
Terra Luna Classic's Long Term Price Prediction
Terra Luna Classic’s long term Price Prediction below is a look at LUNC’s future prospect with regards to price. Terra Luna Classic was last seen at $0.00017, with a market cap of $1,030,737,613 and trading volumes of $392,378,875. LUNC’s price prediction is possible by analyzing historical price action, current developments and social sentiment from the community.
Years | Avg Price | Lowest Price | Highest Price |
2024 | $0.00033 | $0.00026 | $0.00039 |
2025 | $0.00038 | $0.00031 | $0.00046 |
2026 | $0.00045 | $0.00036 | $0.00054 |
2027 | $0.00053 | $0.00042 | $0.00064 |
2028 | $0.00062 | $0.0005 | $0.00075 |
2029 | $0.00073 | $0.00058 | $0.00088 |
2030 | $0.00086 | $0.00068 | $0.001 |
2031 | $0.001 | $0.0008 | $0.0012 |
2032 | $0.0011 | $0.00094 | $0.0014 |
2033 | $0.0013 | $0.0011 | $0.0016 |
Terra Luna Classic price prediction 2024: Terra Luna Classic's price for 2024 according to our analysis should range between $0.00026 to $0.00039 and the average price of LUNC should be around $0.00033.
Terra Luna Classic price prediction 2025: Terra Luna Classic's price for 2025 according to our analysis should range between $0.00031 to $0.00046 and the average price of LUNC should be around $0.00038.
Terra Luna Classic price prediction 2026: Terra Luna Classic's price for 2026 according to our analysis should range between $0.00036 to $0.00054 and the average price of LUNC should be around $0.00045.
Terra Luna Classic price prediction 2027: Terra Luna Classic's price for 2027 according to our analysis should range between $0.00042 to $0.00064 and the average price of LUNC should be around $0.00053.
Terra Luna Classic price prediction 2028: Terra Luna Classic's price for 2028 according to our analysis should range between $0.0005 to $0.00075 and the average price of LUNC should be around $0.00062.
Terra Luna Classic price prediction 2029: Terra Luna Classic's price for 2029 according to our analysis should range between $0.00058 to $0.00088 and the average price of LUNC should be around $0.00073.
Terra Luna Classic price prediction 2030: Terra Luna Classic's price for 2030 according to our analysis should range between $0.00068 to $0.001 and the average price of LUNC should be around $0.00086.
Terra Luna Classic price prediction 2031: Terra Luna Classic's price for 2031 according to our analysis should range between $0.0008 to $0.0012 and the average price of LUNC should be around $0.001.
Terra Luna Classic price prediction 2032: Terra Luna Classic's price for 2032 according to our analysis should range between $0.00094 to $0.0014 and the average price of LUNC should be around $0.0011.
Terra Luna Classic price prediction 2033: Terra Luna Classic's price for 2033 according to our analysis should range between $0.0011 to $0.0016 and the average price of LUNC should be around $0.0013.
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FAQs about Terra Luna Classic
Terra Luna Classic’s current price is $0.00017 and witnessed a -13.12% decrease in the past 24 hours. LUNC/BTC pair saw a -8.57% decrease in the past 24 hours
Investing in Terra Luna Classic, LUNC will purely depend on your personal risk appetite. As you can see over the past 24 hours Terra Luna Classic’s price has witnessed a -13.12% decrease and over the past 30 days Terra Luna Classic has increase by 111.84%. So it all depends on if this investment will hit your trading goals.
According to our latest Terra Luna Classic Price prediction for 2023, LUNC should vary between $0.00033 and $0.00022. Please keep in mind that the crypto market is very volatile and this Terra Luna Classic price prediction does not account for extreme wild swings in price.
As per the Terra Luna Classic price prediction 2023 model above, LUNC’s price for December 2023 should range between $0.00022 to $0.00033 with the average price for December being $0.00028
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2024 would be $0.00033. This price would however would range from $0.00039 and $0.00026.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2025 would be $0.00038. This price would however would range from $0.00046 and $0.00031.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2026 would be $0.00045. This price would however would range from $0.00054 and $0.00036.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2027 would be $0.00053. This price would however would range from $0.00064 and $0.00042.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2028 would be $0.00062. This price would however would range from $0.00075 and $0.0005.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2029 would be $0.00073. This price would however would range from $0.00088 and $0.00058.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2030 would be $0.00086. This price would however would range from $0.001 and $0.00068.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2031 would be $0.001. This price would however would range from $0.0012 and $0.0008.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2032 would be $0.0011. This price would however would range from $0.0014 and $0.00094.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2033 would be $0.0013. This price would however would range from $0.0016 and $0.0011.
The highest price for Terra Luna Classic was recorded in 5 April 2022 during which LUNC hit an All Time High of $119.18
The price of 1 Terra Luna Classic according to current market rate is $0.00017