Terra Luna Classic Price Prediction, will LUNC’s price hit $0.0003?
Terra Luna Classic’s price at the same time last week was $0.000077. It has moved by 103.66 % in the past week and is currently at $0.00018. Infact, in the past 24 hours, LUNC has pumped by 31.31 %. There is a slight bullish sentiment in the crypto market. The long term sentiment, however, remains bullish and LUNC could hit $0.0003 in 2024.
The total circulating supply of Terra Luna Classic as of writing this article was $5,821,753,638,689 and the marketcap of LUNC remains at $1,105,060,519
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, now known as Terra Luna Classic (LUNC), is an open-source blockchain protocol for hosting a dynamic ecosystem of decentralized applications (dApps) and top-tier development tools. It is built on the Cosmos SDK. The blockchain carves a path for the next-gen decentralized finance (DeFi) experience by harnessing a proof-of-stake (PoS) consensus mechanism called Tendermint.
The network’s native token, LUNC, is mainly used for staking. Apart from this, it can also be used for governance that allows users to make changes to the Terra protocol.
It is also a payment platform for an algorithmic stablecoin, and its chief role was to serve the purpose of a “counterpart” in absorbing price fluctuations of terraUSD (UST), which is now known as Terra Classic USD (USTC).
The attack that changed it all
Post an attack that exploited a loophole in the blockchain's protocol, UST failed to aptly mint and burn its tokens to create a balance of its demand and supply at the $1 peg. Subsequent to losing its dollar peg, UST witnessed a catastrophic [almost 99%] loss of value, one that has gone down the history of major crypto collapses.
The resultant events led Do Kwon to rev up the revival efforts. In doing so, he proposed a hard fork for which the majority of the community members voted in favor.
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 USTC, KRTC, and 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.
What does LUNC's road ahead look like?
Source: LUNC classic community/X
Community sentiment
Despite the crumbling of its network, LUNC's community exhibited promising signs of revival as “#LUNCcommunity” was trending on Twitter.
The community aided the coin's recovery by passing critical proposals on LUNC's burn in the hope of recouping the losses of the previous meltdown.
While Kwon and his team focused on the developmental aspects of Terra 2.0, Luna Classic was handed over and is now run by its community.
Effects of LUNC's burn tax
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. A surge in social mentions and engagement, particularly on platforms like LunarCrush, indicated a positive response from the community.
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 74.91 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%. As of November 2023, 5.84 trillion LUNC are in circulation.
What’s happening with USTC?
In September 2023, the Terra LUNA Classic community voted in favor of suspending the minting of USTC. The primary concern was the USTC-LUNA swap mechanism, which allowed users to easily exchange UST and LUNA. However, this method became problematic during financial crises.
To safeguard investor interests, a proposal was made to discontinue this swapping mechanism. This proposal is essentially an attempt to restore the coin’s peg to the U.S. dollar.
History of Terra
Source: Terra.money
The Terra blockchain was developed by Terraform Labs. The company was founded by Daniel Shin and Kwon and debuted in January 2018. Following its introduction, an Initial Coin Offering (ICO) for its native token, LUNA, was conducted in early 2019. Terra's exceptional performance in the subsequent years propelled it into the top 10 largest cryptocurrencies globally based on market capitalization.
Terra's white paper elucidates the vision of its founders: they aspired to actualize Bitcoin’s (BTC) initial ambition—a decentralized peer-to-peer (P2P) electronic cash system. In their pursuit of this vision, they devised a unique approach using stablecoins.
Before co-founding Terra, Shin's entrepreneurial journey included launching Ticket Monster (TMON), a prominent e-commerce entity in South Korea. He later co-initiated Fast Track Asia, an incubator assisting entrepreneurs in sculpting their fledgling companies into robust enterprises.
On the other hand, Kwon's resume boasts the founding of Anyfi, a startup dedicated to decentralized wireless mesh networking solutions. He has further sharpened his skills during stints as a software engineer with industry giants like Microsoft and Apple.
Terra Luna Classic (LUNC) Price Analysis
The daily chart of LUNC presented an intriguing narrative of the constant tug-of-war between bearish and bullish forces. The market dynamics during the analyzed period revealed a fluctuating yet compelling trajectory for LUNC’s price.
LUNC daily chart
LUNC's attempt to breach the resistance level at $0.0000655 in late September was met with a strong pushback, resulting in a progressive decline. This bearish momentum saw the price descending to the support level of $0.0000579 in October.
Notably, this level did not hold for long as the bears exerted further pressure, pushing the price down to its lowest support in the analyzed time frame at $0.0000552. However, this low point marked a pivotal moment for LUNC.
The bulls found renewed strength, driving a rebound that saw the price not only recover but also successfully surpass the previously unbreachable resistance at $0.0000655. By November, a new resistance level was established at $0.0000682.
At the close of our analysis, the price movement appeared to be tentatively crossing this new threshold, with LUNC trading at $0.00007355, suggesting an ongoing bullish momentum, although confirmation of sustained strength was pending.
The trading volume of LUNC remained low following the initial rejection. However, it started to increase in tandem with the price's upward trajectory. This correlation between volume and price indicated a growing interest and potentially a stronger commitment from the bulls.
As the price declined, breaching its support level at $0.0000618, the Relative Strength Index (RSI) dropped beneath the neutral threshold of 50, underscoring the dominance of bearish momentum.
However, following a bullish recovery, the RSI ascended, attaining a value of 75.28 at the time of writing. This rise in the RSI underscored the prevailing influence of bullish sentiment in shaping the market's direction.
The Chaikin Money Flow (CMF) oscillated above and below the zero line initially. However, as the bulls initiated a stronger rally, the CMF inclined positively, recording a value of 0.18 at the end of our analysis period. This positive CMF value indicated that money was flowing into LUNC, supporting the buying pressure.
Should you consider buying LUNC?
Based on the observed indicators, there are clear signs of a bullish resurgence in the LUNC market. The increase in volume, a rising RSI, and a positive CMF all suggest that the bulls are gaining ground.
Moreover, Binance’s recent announcement regarding adjustments in margin requirements and leverage levels has further resulted in a sharp increase in the prices of LUNC, as reflected in the chart.
For traders looking to buy LUNC, targeting a buying range between $0.000061 and $0.000064 might be strategic. This range considers the recent support and resistance levels, allowing traders to capitalize on potential upward movements while mitigating risks associated with volatility. It's crucial for investors to continuously monitor market trends and adjust their strategies accordingly.
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 614,773,641. Terra Luna Classic has gone up by 200.87% 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 0.00026 and the highest possible price for February 2024 would be $0.00027.
Further, according to our analysis in the long term, Terra Luna Classic price prediction for June 2024 shows the average price of LUNC at 0.00028 and the highest possible price for June 2024 would be $0.0003.
Terra Luna Classic's Short Term Price Prediction
Date | Avg Price | Lowest Price | Highest Price |
4 December 2023 | $0.77 | $0.72 | $0.83 |
5 December 2023 | $0.81 | $0.75 | $0.86 |
6 December 2023 | $0.9 | $0.83 | $0.96 |
7 December 2023 | $1.01 | $0.93 | $1.08 |
12 December 2023 | $2.17 | $2.02 | $2.32 |
17 December 2023 | $3.39 | $3.15 | $3.63 |
27 December 2023 | $6.09 | $5.66 | $6.51 |
Terra Luna Classic price prediction 4 December 2023: Terra Luna Classic's price for 4 December 2023 according to our analysis should range between $0.72 to $0.83 and the average price of LUNC should be around $0.77.
Terra Luna Classic price prediction 5 December 2023: Terra Luna Classic's price for 5 December 2023 according to our analysis should range between $0.75 to $0.86 and the average price of LUNC should be around $0.81.
Terra Luna Classic price prediction 6 December 2023: Terra Luna Classic's price for 6 December 2023 according to our analysis should range between $0.83 to $0.96 and the average price of LUNC should be around $0.9.
Terra Luna Classic price prediction 7 December 2023: Terra Luna Classic's price for 7 December 2023 according to our analysis should range between $0.93 to $1.08 and the average price of LUNC should be around $1.01.
Terra Luna Classic price prediction 12 December 2023: Terra Luna Classic's price for 12 December 2023 according to our analysis should range between $2.02 to $2.32 and the average price of LUNC should be around $2.17.
Terra Luna Classic price prediction 17 December 2023: Terra Luna Classic's price for 17 December 2023 according to our analysis should range between $3.15 to $3.63 and the average price of LUNC should be around $3.39.
Terra Luna Classic price prediction 27 December 2023: Terra Luna Classic's price for 27 December 2023 according to our analysis should range between $5.66 to $6.51 and the average price of LUNC should be around $6.09.
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 $0.00018, with a market cap of $1,105,060,519 and trading volumes of $614,773,641. 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 | $0.00025 | $0.0002 | $0.0003 |
2025 | $0.00033 | $0.00026 | $0.0004 |
2026 | $0.00044 | $0.00035 | $0.00053 |
2027 | $0.00059 | $0.00047 | $0.00071 |
2028 | $0.00079 | $0.00063 | $0.00095 |
2029 | $0.001 | $0.00084 | $0.0012 |
2030 | $0.0014 | $0.0011 | $0.0016 |
2031 | $0.0018 | $0.0014 | $0.0022 |
2032 | $0.0024 | $0.0019 | $0.0029 |
2033 | $0.0032 | $0.0026 | $0.0039 |
Terra Luna Classic price prediction 2024: Terra Luna Classic's price for 2024 according to our analysis should range between $0.0002 to $0.0003 and the average price of LUNC should be around $0.00025.
Terra Luna Classic price prediction 2025: Terra Luna Classic's price for 2025 according to our analysis should range between $0.00026 to $0.0004 and the average price of LUNC should be around $0.00033.
Terra Luna Classic price prediction 2026: Terra Luna Classic's price for 2026 according to our analysis should range between $0.00035 to $0.00053 and the average price of LUNC should be around $0.00044.
Terra Luna Classic price prediction 2027: Terra Luna Classic's price for 2027 according to our analysis should range between $0.00047 to $0.00071 and the average price of LUNC should be around $0.00059.
Terra Luna Classic price prediction 2028: Terra Luna Classic's price for 2028 according to our analysis should range between $0.00063 to $0.00095 and the average price of LUNC should be around $0.00079.
Terra Luna Classic price prediction 2029: Terra Luna Classic's price for 2029 according to our analysis should range between $0.00084 to $0.0012 and the average price of LUNC should be around $0.001.
Terra Luna Classic price prediction 2030: Terra Luna Classic's price for 2030 according to our analysis should range between $0.0011 to $0.0016 and the average price of LUNC should be around $0.0014.
Terra Luna Classic price prediction 2031: Terra Luna Classic's price for 2031 according to our analysis should range between $0.0014 to $0.0022 and the average price of LUNC should be around $0.0018.
Terra Luna Classic price prediction 2032: Terra Luna Classic's price for 2032 according to our analysis should range between $0.0019 to $0.0029 and the average price of LUNC should be around $0.0024.
Terra Luna Classic price prediction 2033: Terra Luna Classic's price for 2033 according to our analysis should range between $0.0026 to $0.0039 and the average price of LUNC should be around $0.0032.
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FAQs about Terra Luna Classic
Terra Luna Classic’s current price is $0.00018 and witnessed a 31.31% increase in the past 24 hours. LUNC/BTC pair saw a 28.12% increase 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 31.31% increase and over the past 30 days Terra Luna Classic has increase by 200.87%. 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 $0.36 and $0.24. 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 $0.24 to $0.36 with the average price for December being $0.3
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2024 would be $0.00025. This price would however would range from $0.0003 and $0.0002.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2025 would be $0.00033. This price would however would range from $0.0004 and $0.00026.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2026 would be $0.00044. This price would however would range from $0.00053 and $0.00035.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2027 would be $0.00059. This price would however would range from $0.00071 and $0.00047.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2028 would be $0.00079. This price would however would range from $0.00095 and $0.00063.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2029 would be $0.001. This price would however would range from $0.0012 and $0.00084.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2030 would be $0.0014. This price would however would range from $0.0016 and $0.0011.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2031 would be $0.0018. This price would however would range from $0.0022 and $0.0014.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2032 would be $0.0024. This price would however would range from $0.0029 and $0.0019.
According to the Terra Luna Classic Price Prediction model above, LUNC’s price in 2033 would be $0.0032. This price would however would range from $0.0039 and $0.0026.
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 $0.00018