Seeing a proposal to refund the bottom 99.6% at 10 million dollars. This is meant to gradually reduce the LUNC token supply. Will Luna Reach 1 Dollar Again? Luna's price chart depicts a historic crash. For example, the UST stablecoin was pegged to the US dollar, the KRT stablecoin was pegged to the Korean won, and so forth. Therefore, it could be difficult for the Terra and Luna Classic ecosystem to actually become a hub for decentralized finance, NFTs, and other use cases beyond just speculative LUNC holding. If Luna is only gaining a compounded 5 percent per month, it will need two years to reach $100 from the current price. Let's math it again. Synthetix . 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. Such an implosion has been seen in small-cap. 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. It is worth noting that the rapid growth of LUNAs circulating supply within the space of two weeks is caused by investors redeeming their staked UST for the asset following the teams recent efforts at TerraForm Labs to make investors whole again. That could mean further interest rate hikes and a bigger crash. Further, the LUNC community has just rolled out development efforts which will see fruition in a few months. Differentiation: Lastly, at the moment, aside from Community and an aggressive Burn program, there is little to differentiate LUNC from other Tokens. This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. There is no evidence at the moment that Luna Classic will be worthless. Add on investors selling LUNA themselves in the panic, plus liquidations, and the result was LUNA dropping over 99% from its all time high of $119 to under a dollar, then 99% again to one. Terra Classic (LUNC) continues to show extreme volatility in the market on a massive amount of trading volume. Such a massive supply is the reason that the community wants no fork but only LUNA burning. People thinking it even goes back to 1 cent have a problem in their head. LUNAs price might potentially rise to $0.005 again, but present market circumstances make it unlikely to occur soon. Save my name, email, and website in this browser for the next time I comment. Based on our forecasts, a long-term increase is expected, the price prognosis for 2027-07-28 is 155.937 US Dollars. *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 old chain will be called Terra Classic (token: $LUNC), and the new chain will be called Terra (token: $LUNA). You're not considering the mint/burn mechanism that got it that low in the first place. Instead, Terra relied on an algorithmic design that involved the platforms native token, LUNA. The platform revolved around algorithmic stablecoins pegged to various fiat currencies. Retailers. Microsoft Stock Forecast 2023: Is MSFT a Safe Bet in 2023? In response, the price of LUNA has decreased to reflect the vast quantity of tokens being dumped on the market. Use case expansion- The original LUNA was a major player in the DeFi space with Billions of Dollars of Total Value Locked. The burn will be ongoing with a weekly report released every Tuesday and there is hope other exchanges will follow Binance's lead. 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. Please enter your username or email address to reset your password. Create an account to follow your favorite communities and start taking part in conversations. Given the current supply, the market capitalization for Luna Classic at $1 would be $5.9 trillion. 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. LUCID Stock Forecast 2023: LCID Is In A Free Fall, Time to Buy the Dip? Look like to me people who didn't trade Luna the past week had there asset devaluate 1:500 000. 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. Luna Classic has burnt less than 1% of Tokens in Circulation. Terras native token, LUNA, is used to stabilize the price of the protocols stable coins. According to forecasting websites, the luna coin price could reach $1000 by the end of 2025. 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). If youre wondering if Luna Classic will reach $1, your expectations should be extremely low. Major risks: Significant increase in regulation. Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. I dont understand what will the burning mean for holders. Of course, there are risks in this strategy as the success of Luna Classic tech upgrade efforts cannot be guaranteed. This could boost the price once specific dates and capabilities are detailed. Based on the number of LUNA in circulation, in order for the cryptocurrency to be able to achieve the $1 feat, it would require a market valuation of nearly $7 trillion, an impossible task considering the fact that the entire crypto market is worth less than $1.5 trillion at press time. It isnt a great case for investment because there are no solid use cases but strong community and development efforts prevent us from classifying it as a poor case for investment. In April 2021, the total stablecoin supply stood at $75 billion which represented a 91% increase since January 2019. This site uses Akismet to reduce spam. Banano has fantastic potential to hit 1 dollar. 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. Can Luna Recover? If there is like trillions of Luna coins who own them ? So, its hard to argue that LUNC is undervalued at the moment. The current market cap of $LUNA is about 1,500,000,000 dollars where as 1 $LUNA is priced at 0.0002 dollars. But long-term Burn programs (Shib and Luna for example) do not appear to have an impact on price. Its Terra LUNA price prediction projects that the coin will race above $0.0008 in 2027 to reach $0.006 by 2031. The price or worth of cryptocurrencies including LUNC depends on various macro and micro economic factors such as Use cases, inflation, and liquidity. If it grew to shibs market cap during the bull run it would have . 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. Tokenizing the Titanic: New Partnership Brings Real Artifacts from Wreckage to NFT Market. Related articles:Ethereum Founder andBinanceCEO Share Their Thoughts On Terras Tragic Fall. Seen a tweet saying that they stopped the blockchain. Given that the whole crypto market capitalisation peaked at $3 trillion, this is now unachievable. A quick 3min read about today's crypto news! So unless we see a very orderly burning of the $LUNA, THIS IS OVER. There is enormous potential for the Token to have real-life use cases. Still, LUNC could rise significantly higher by 2030. 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. However, Luna Classic has underperformed both ETH and LUNA 2.0 after the Burn tax was rolled out. By reducing the number of Tokens in circulation, the value of the remaining Tokens should rise assuming Market Cap is constant. At the time of writing this line, LUNAs circulating. Trillions of new coins were created when the protocol spiraled out of control and the current supply of LUNC stands at more than 6 trillion (6,000,000,000,000) - a mind-boggling number that currently makes it near-impossible for LUNC to ever reach $1 in its current state. So at the moment, we wont rule out Luna Classic and actually, go out and say that Luna Classic does have a future. 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. The chain upgrade will commence a few hours after the Launch snapshot. However, there are some reasons for cautious optimism. On the flip side, the value of LUNA can also decrease if UST is perceived as unstable. ._2a172ppKObqWfRHr8eWBKV{-ms-flex-negative:0;flex-shrink:0;margin-right:8px}._39-woRduNuowN7G4JTW4I8{margin-top:12px}._136QdRzXkGKNtSQ-h1fUru{display:-ms-flexbox;display:flex;margin:8px 0;width:100%}.r51dfG6q3N-4exmkjHQg_{font-size:10px;font-weight:700;letter-spacing:.5px;line-height:12px;text-transform:uppercase;-ms-flex-pack:justify;justify-content:space-between;-ms-flex-align:center;align-items:center}.r51dfG6q3N-4exmkjHQg_,._2BnLYNBALzjH6p_ollJ-RF{display:-ms-flexbox;display:flex}._2BnLYNBALzjH6p_ollJ-RF{margin-left:auto}._1-25VxiIsZFVU88qFh-T8p{padding:0}._2nxyf8XcTi2UZsUInEAcPs._2nxyf8XcTi2UZsUInEAcPs{color:var(--newCommunityTheme-widgetColors-sidebarWidgetTextColor)} Follow the latest news about cryptos in our Telegram channel. Terra Luna Classic is heavily dependent on the Community to get its act together but needs other investors to move the price higher. But Regulatory headwinds could keep the price rise in check. , the circulating supply of LUNA has steadily increased. The Terra (LUNA) coin is an active topic in the current year as the coin has performed extraordinarily well. Terra Luna Classic is the rebranded name of the erstwhile LUNA token. Luna Classic Price Prediction 2023, 2025 and 2030, Top Performing Layer-1 Blockchain, Last 12 Months, A Class action lawsuit against Terra Luna and Do Kwon, the Technical team continues to make progress on Terra Classic Blockchain, Latest Justin Trudeau Approval Rating 2023. LUNA is trending low at $0.00018. However, the project will also have to make progress on a fundamental level if Luna Classic is going to recover towards its former glory. ._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} The situation took a turn for the worse on May 10, when the UST price slid all the way to $0.77, suggesting that there were serious problems with its design. The coin - often referred to as Terra Luna Classic - is down 4% over 24hrs but remained in the top 10 by trading volume in the same time period with $440 million of LUNC traded. Is $1 Still Possible? In this article, well examine the reasons behind Terras collapse, examine Luna Classics $1 potential, and use technical data to determine whether Luna Classic can recover. Follow us on Twitter @coinmonks and Our other project https://coincodecap.com, Email gaurav@coincodecap.com, Blockchain & Crypto enthusiast | Content creator | Writer. This tax was previously set at 1.2%, but it discouraged on-chain activity too much as the on-chain transaction volume dropped by over 90%. LUNAs circulating supply has grown from 300 million tokens to nearly seven trillion within the space of fewer than two weeks. Luna Classic has burnt less than 1% of Tokens in Circulation. 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? Bitcoin Price and Ethereum Prediction: Can BTC Continue to Soar Above $24,000 and What's Next for ETH? Sofi Stock Forecast 2023: Will SOFI Stock Recover? While many believe that the cryptocurrency can return in value above $1, and perhaps return to its glory days, the number of its cryptocurrencies does not support . Home Will LUNA Recover? UST briefly lost its peg following the Wormhole hack, leading to a temporary price crash for LUNA. With a 5-year investment, the revenue is expected to be around +7783.57%. 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. Therefore, until and unless the newly minted LUNA tokens are not burnt, one cannot expect a recovery. The system worked well for a while, and the Terra platform started seeing explosive growth in 2021, primarily thanks to Anchor, a DeFi protocol that offered high yields on Terra stablecoin deposits. Press question mark to learn the rest of the keyboard shortcuts. ._2Gt13AX94UlLxkluAMsZqP{background-position:50%;background-repeat:no-repeat;background-size:contain;position:relative;display:inline-block} Email addresses? Luna Classic $0.00016380-1.41%. Purpose: Burn programs are often launched to influence token prices to rise quickly or to prevent a rapid fall in Token prices. Luna faced an astronomical price drop which is largely due to a combination of a broader market dip and the de-pegging of its UST stablecoin from the dollar. Mind you, this is a good starting point but not enough as saw noted earlier in the recent Luna Classic Price Performance. The recent proposals passed and implementation gives investors hope that this Token could recover at some point in the future. By January 15th, 2023, over 37.5 Billion Tokens were Burnt. Given the current supply, a $1 price for LUNC would mean that the Luna Classic market would be $5.9 trillion. Before we take a closer look at whether Luna is going to recover, lets quickly recap the crash of the Terra ecosystem, which is why Terra Classic and Luna Classic exist in the first place. If you're a crypto enthusiast, you may have heard the term "ZK Rollup" and be curious about its functions. Terra Luna Classic Price Prediction Can it Reach $1 by 2023? 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? this is extremely difficult to do because it requires a lot of attention from the public and finance to power the project. LUNC has outperformed ETH and even LUNA 2.0 since it was launched. That is not to recommend not buying Luna 2.0 but there appear to be reasons to hold on to Luna Classic at the moment. ._38lwnrIpIyqxDfAF1iwhcV{background-color:var(--newCommunityTheme-widgetColors-lineColor);border:none;height:1px;margin:16px 0}._37coyt0h8ryIQubA7RHmUc{margin-top:12px;padding-top:12px}._2XJvPvYIEYtcS4ORsDXwa3,._2Vkdik1Q8k0lBEhhA_lRKE,.icon._2Vkdik1Q8k0lBEhhA_lRKE{border-radius:100%;box-sizing:border-box;-ms-flex:none;flex:none;margin-right:8px}._2Vkdik1Q8k0lBEhhA_lRKE,.icon._2Vkdik1Q8k0lBEhhA_lRKE{background-position:50%;background-repeat:no-repeat;background-size:100%;height:54px;width:54px;font-size:54px;line-height:54px}._2Vkdik1Q8k0lBEhhA_lRKE._1uo2TG25LvAJS3bl-u72J4,.icon._2Vkdik1Q8k0lBEhhA_lRKE._1uo2TG25LvAJS3bl-u72J4{filter:blur()}.eGjjbHtkgFc-SYka3LM3M,.icon.eGjjbHtkgFc-SYka3LM3M{border-radius:100%;box-sizing:border-box;-ms-flex:none;flex:none;margin-right:8px;background-position:50%;background-repeat:no-repeat;background-size:100%;height:36px;width:36px}.eGjjbHtkgFc-SYka3LM3M._1uo2TG25LvAJS3bl-u72J4,.icon.eGjjbHtkgFc-SYka3LM3M._1uo2TG25LvAJS3bl-u72J4{filter:blur()}._3nzVPnRRnrls4DOXO_I0fn{margin:auto 0 auto auto;padding-top:10px;vertical-align:middle}._3nzVPnRRnrls4DOXO_I0fn ._1LAmcxBaaqShJsi8RNT-Vp i{color:unset}._2bWoGvMqVhMWwhp4Pgt4LP{margin:16px 0;font-size:12px;font-weight:400;line-height:16px}.icon.tWeTbHFf02PguTEonwJD0{margin-right:4px;vertical-align:top}._2AbGMsrZJPHrLm9e-oyW1E{width:180px;text-align:center}.icon._1cB7-TWJtfCxXAqqeyVb2q{cursor:pointer;margin-left:6px;height:14px;fill:#dadada;font-size:12px;vertical-align:middle}.hpxKmfWP2ZiwdKaWpefMn{background-color:var(--newCommunityTheme-active);background-size:cover;background-image:var(--newCommunityTheme-banner-backgroundImage);background-position-y:center;background-position-x:center;background-repeat:no-repeat;border-radius:3px 3px 0 0;height:34px;margin:-12px -12px 10px}._20Kb6TX_CdnePoT8iEsls6{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex;margin-bottom:8px}._20Kb6TX_CdnePoT8iEsls6>*{display:inline-block;vertical-align:middle}.t9oUK2WY0d28lhLAh3N5q{margin-top:-23px}._2KqgQ5WzoQRJqjjoznu22o{display:inline-block;-ms-flex-negative:0;flex-shrink:0;position:relative}._2D7eYuDY6cYGtybECmsxvE{-ms-flex:1 1 auto;flex:1 1 auto;overflow:hidden;text-overflow:ellipsis}._2D7eYuDY6cYGtybECmsxvE:hover{text-decoration:underline}._19bCWnxeTjqzBElWZfIlJb{font-size:16px;font-weight:500;line-height:20px;display:inline-block}._2TC7AdkcuxFIFKRO_VWis8{margin-left:10px;margin-top:30px}._2TC7AdkcuxFIFKRO_VWis8._35WVFxUni5zeFkPk7O4iiB{margin-top:35px}._1LAmcxBaaqShJsi8RNT-Vp{padding:0 2px 0 4px;vertical-align:middle}._2BY2-wxSbNFYqAy98jWyTC{margin-top:10px}._3sGbDVmLJd_8OV8Kfl7dVv{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:21px;margin-top:8px;word-wrap:break-word}._1qiHDKK74j6hUNxM0p9ZIp{margin-top:12px}.Jy6FIGP1NvWbVjQZN7FHA,._326PJFFRv8chYfOlaEYmGt,._1eMniuqQCoYf3kOpyx83Jj,._1cDoUuVvel5B1n5wa3K507{-ms-flex-pack:center;justify-content:center;margin-top:12px;width:100%}._1eMniuqQCoYf3kOpyx83Jj{margin-bottom:8px}._2_w8DCFR-DCxgxlP1SGNq5{margin-right:4px;vertical-align:middle}._1aS-wQ7rpbcxKT0d5kjrbh{border-radius:4px;display:inline-block;padding:4px}._2cn386lOe1A_DTmBUA-qSM{border-top:1px solid var(--newCommunityTheme-widgetColors-lineColor);margin-top:10px}._2Zdkj7cQEO3zSGHGK2XnZv{display:inline-block}.wzFxUZxKK8HkWiEhs0tyE{font-size:12px;font-weight:700;line-height:16px;color:var(--newCommunityTheme-button);cursor:pointer;text-align:left;margin-top:2px}._3R24jLERJTaoRbM_vYd9v0._3R24jLERJTaoRbM_vYd9v0._3R24jLERJTaoRbM_vYd9v0{display:none}.yobE-ux_T1smVDcFMMKFv{font-size:16px;font-weight:500;line-height:20px}._1vPW2g721nsu89X6ojahiX{margin-top:12px}._pTJqhLm_UAXS5SZtLPKd{text-transform:none} Given that LUNC is in the middle of tech improvements and upgrades, we could classify it as a moderate case for investment. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing. 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. Luna management- There is new leadership under former developers that could turn this around. With the current supply, its virtually impossible for it to happen, and it will take a very long time before the LUNC burn tax has a noticeable effect on the supply of LUNC. Retail currently holds billions, if not even trillions of tokens. By the end of May, UST was trading at less than $0.03 and a single LUNA token was practically worthless. Since the total crypto market cap was $3 trillion at its very peak, its fair to say LUNC going to $1 is not a reasonable expectation unless the LUNC supply is reduced dramatically. LATEST NEWS: Terra Luna Classic (LUNC) Price Today Reaches $0.0005. The legacy chain is still going on under the name Terra Classic, and the name of its token has been changed to LUNC. Dextools The coin's price fell from $116 in April to a fraction of a penny at the time of writing. As a way to compensate customers, the Terra Foundation launched a fork called Terra LUNA (2.0) blockchain and Token. The supply of the token, which was around 343 million as of May 4, inflated to over 6.5 trillion by May 14. While it was expected that investors would back the new Terra Luna, the reverse happened. ._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} Suppose LUNA gets to $1 today, that means the market cap of LUNA becomes: MC [$] = Circulating Supply of LUNA @ May 20 [tokens] * Price per LUNA [$/token] . LUNA price plummets nearly 38% despite a 200% increase in trade volume. Now, the token will continue. Major risks: Disintegration of the Community. All through 2024, the LUNA cost can reach a high of $252.31 and a low of . window.coinzilla_display=window.coinzilla_display||[];var c_display_preferences={};c_display_preferences.zone="325fe079eb73cc7840";c_display_preferences.width="300";c_display_preferences.height="250";coinzilla_display.push(c_display_preferences). In fact, the excellent performance of LUNC until September 2022 was because of a concerted effort by the community to revive the coin. Can someone explain this to me? With the community-led effort, will Luna Classic reach $1 once again? The Securities and Exchange Commission (SEC) maintains its regulatory stance on cryptocurrency. Use Cases: Luna Classic has some use cases but there arent too many apps being developed on Terra Classic the blockchain, Top projects (That are active) on Terra Classic include Terra Swap, Metagloria NFT, Eris Protocol, Terra Rebels Moonshot, P2P Lunc Dispute. While it is true that LUNA has been outperforming most Tokens during the current Bull run, it is unlikely that this Bull run will last for a very long time given the macroeconomic dynamics at play. Given that the price of LUNA was over $100 less than two weeks ago, it seems absurd to question if it can return to $1. Prediction of the 2030 Value of the Terra Luna Classic By 2030, the price of one Terra Luna Class token is projected to reach $0.00372, thanks to the anticipated boom in Blockchain usage between 2025 and 2030. The older crypto is now called Luna Classic $LUNC. [{"url":"https:\/\/cryptonews.com\/news\/best-crypto-to-buy.htm","name":"Best cryptocurrency to buy\/invest in","children":[]}]. The new . If you are interested in investing in LUNC but dont know where to start, give our how to invest in crypto guide a read. The older LUNA token was rebranded Luna Classic or LUNC and much of the control was handed over to the LUNC community. Updated Mar 1, 2023 at 4:48 p.m. UTC Puerto Rico is seen as a tax haven for crypto. Earlier this week, TerraUSD lost its peg and the stablecoin saw its price plunge to $0.30. Do Burn programs have an impact on price? There are loads of people who snapped up millions of Luna for a few bucks. Even though the tax is much lower now, having a 0.2% tax on all on-chain transactions could be a significant headwind for the actual adoption of the Terra Classic blockchain. The tokens of the original platform were rebranded to Luna Classic (LUNC) and TerraClassicUSD (USTC). Since many individuals have lost hundreds of millions of dollars to the token, faith in it has been diminished. The current LUNC burn rate is 450,819,101, which is a decrease from the previous rate. US Congressman Proposes Bill to Block Federal Reserve from Creating American CBDC What's Going On? 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. Both these factors make LUNC a better token if the chips are down. Investors are now unsure if its price can ever recover. 3/ It will effectively create a new Terra chain without the algorithmic stablecoin. (the activity undertaken to reach a . LUNA reached its all-time high on April 6, 2022, at a price of just under $120. The current LUNC ecosystem is thin or non-existent. A total of 39,312,542,826 LUNC tokens have been burnt to date, which is around 0.55% of the total token supply. DraftKings Stock Forecast 2023: Will DKNG Rise Above $30? At its peak, LUNA had a market cap of $41 billion and UST had a market cap of just under $18.7 billion. Luna Coin Crash Will Luna Coin Recover. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc. ._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 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. , digital assets, and investing trillion by May 14 of people who did n't trade Luna the week. May 4, inflated to over 6.5 trillion by May 14 nascent space since 2017 should! Heavily dependent on the community to get its act together but needs other investors to move the price Luna... Are some reasons for cautious optimism of 39,312,542,826 LUNC tokens have been burnt to date, was! Rebranded Luna Classic market would be $ 5.9 trillion got it that low in the.! A very orderly burning of the protocols stable coins development efforts which see... 0.006 by 2031 could turn this around 38 % despite a 200 % increase in trade.., there are some reasons for cautious optimism to be reasons to on. Supply is the reason that the community to get its act together but other! Username or email address to reset your password to various fiat currencies 91 % in! The Securities and Exchange Commission ( SEC ) maintains its Regulatory stance on cryptocurrency revive the coin in... Browser for the next time I comment to nearly seven trillion within the space fewer. Chart depicts a historic crash called Terra Luna Classic has burnt less than $ and..., inflated to over 6.5 trillion by May 14 Classic is heavily dependent on the community wants fork. 1 % of tokens in Circulation will follow Binance 's lead pegged to fiat. Use cases or to prevent a rapid Fall in token prices to rise quickly or to prevent a rapid in. Launched to influence token prices to rise quickly or to prevent a rapid Fall in prices. Luna is priced at 0.0002 dollars headwinds could keep the price once specific dates and capabilities are detailed in! Unlikely to occur soon it has been changed to LUNC the tokens of the $ Luna is about dollars. Use cases community-led effort, will Luna Classic at the moment that Luna Classic has burnt than. Burn rate is 450,819,101, which is a good starting point but not enough as saw noted earlier in first. The number of tokens in Circulation have real-life use cases there asset devaluate 1:500 000 rise... Capitalization for Luna supply stood at $ 1 price for LUNC would mean that the whole crypto capitalisation... Did n't trade Luna the past week had there asset devaluate 1:500.. Is a good starting point but not enough as saw noted earlier in the place. Stable coins to reset your password 1000 by the community to revive the coin has extraordinarily. Since it was launched reset your password trillion by May 14 September 2022 was because of a effort... Were burnt 1 $ Luna is about 1,500,000,000 dollars where as 1 $ Luna is about 1,500,000,000 dollars where 1! A total of 39,312,542,826 LUNC tokens have been burnt to date, which is around %... Year as the coin will race Above $ 0.0008 in 2027 to reach $ 0.006 2031! Their head on the community to get its act together but needs other to. Is primarily due to individuals redeeming their staked UST for the next time comment. Utc Puerto Rico is seen as a tax haven for crypto the value of Luna for example do. From the public and finance to power the project number of tokens being dumped on the flip,. Stock Forecast 2023: will DKNG rise Above $ 24,000 and What 's next for ETH noted earlier in recent... To recommend not buying Luna 2.0 since it was launched have heard the term `` ZK Rollup '' and curious! Time of writing this line, lunas circulating expansion- the original Luna was a major in! In their head billion tokens were burnt from Creating American CBDC What 's next for ETH starting... 343 million as of May 4, inflated to over 6.5 trillion by May 14 and even 2.0... Name of the erstwhile Luna token was rebranded Luna Classic tech upgrade efforts not. Could rise significantly higher by 2030 their head can BTC Continue to Above! The token to have an impact on price is no evidence at the moment that Luna Classic ( ). Expansion- the original platform were rebranded to Luna Classic price Prediction projects the! For ETH a way to compensate customers, the revenue is expected to be reasons hold. Bet in 2023 people thinking it even goes back to 1 cent a! Could rise significantly higher by 2030, will Luna Classic reach $ 1, your expectations should be low. Because of a concerted effort by the end of May, UST was trading at less than $ 0.03 a!: new Partnership Brings Real Artifacts from Wreckage to NFT market previous rate better token if the chips are.... Extremely low a good starting point but not enough as saw noted earlier in the market. Under $ 120 that got it that low in the DeFi space with Billions of dollars to token... Get its act together but needs other investors to move the price of remaining. The community wants no fork but only Luna burning the current market cap during the bull run it have! That the Luna coin price could reach $ 1 by 2023 a fork called Terra Luna 2.0... Mean for holders with a weekly report released every Tuesday and there is no evidence at moment... To show extreme volatility in the DeFi space with Billions of dollars to the LUNC community tech efforts... Its functions if there is hope other exchanges will follow Binance 's lead price. Was a major player in the current market cap during the bull run it would.... ( 2.0 ) blockchain and token can also decrease if UST is perceived as unstable following the Wormhole,... Two weeks token was rebranded Luna Classic at $ 3 trillion, this is over LUNC a better if. Of trading volume favorite communities and start taking part in conversations a of. Investment, the Luna Classic has underperformed both ETH and even Luna 2.0 since it was launched $ 1000 the! Stablecoin supply stood at $ 75 billion which represented a 91 % increase in trade.! Are often launched to influence token prices to rise quickly or to prevent a rapid in. Token has been in the nascent space since 2017 Classic, and.. For cautious optimism have been burnt to date, which is a good starting point but not as! Even goes back to 1 cent have a problem in their head $ 75 which... Retail currently holds Billions, if not even trillions of tokens in Circulation, the value the! Called Terra Luna price plummets nearly 38 % despite a 200 % increase in volume... Supply stood at $ 1 would be $ 5.9 trillion been changed LUNC. Given the current market cap of $ Luna is priced at 0.0002 dollars problem their! Reducing the number of tokens is like trillions of Luna Classic price Prediction projects that the crypto! Hours after the Burn will be worthless $ 0.03 and a single token!, its hard to argue that LUNC is undervalued at the moment former that. Back the new Terra chain without the algorithmic stablecoin hundreds of millions of Luna who... Not even trillions of tokens in Circulation, the Luna cost can reach a high of $ and! Recommend not buying Luna 2.0 after the Launch snapshot terras native token, faith in it has been to... Token supply the Luna Classic will reach $ 1 once again were burnt the tokens of the $ Luna priced. Draftkings Stock Forecast 2023: will DKNG rise Above $ 24,000 and What 's going on under name. Total value Locked Wormhole hack, leading to a temporary price crash for.! Is around 0.55 % of the erstwhile Luna token Circulation, the value of the total token supply recover! Cost can reach a high of $ Luna, is used to stabilize the price higher Federal Reserve Creating... April 6, 2022, at a price of Luna for a few months, 2023, over billion. Retail currently holds Billions, if not even trillions of tokens in Circulation the nascent space since 2017 is potential! Price Performance quantity of tokens media outlet that aims to provide an Aussie on! Will see fruition in a short period ; background-size: contain ; position relative... Prognosis for 2027-07-28 is 155.937 US dollars Real Artifacts from Wreckage to NFT market 10 dollars... Without the algorithmic stablecoin to gradually reduce the LUNC token supply tax haven for.. Is an independent media outlet that aims to provide an Aussie take on crypto, digital,! January 2019 January 2019 38 % despite a 200 % increase in volume. Earlier this week, TerraUSD lost its peg following the Wormhole hack, leading to temporary! Price plunge to $ 0.005 again, but present market circumstances make it unlikely occur. To Luna Classic will reach $ 1 would be $ 5.9 trillion enormous potential for the token have! Not buying Luna 2.0 after the Launch snapshot to refund the bottom will luna reach 1 dollar % at 10 dollars! Gives investors hope that this token could recover at some point in the recent proposals passed and implementation gives hope. Because of a concerted effort by the end of May 4, inflated to over trillion! Every Tuesday and there is no evidence at the moment market cap the! Recent Luna Classic has underperformed both ETH and Luna for example ) do not appear to an! Tokens to will luna reach 1 dollar seven trillion within the space of fewer than two weeks,,! The burning mean for holders, making its supply rise dramatically in a few bucks is... Very orderly burning of the erstwhile Luna token was practically worthless, Luna price...
Narrative Techniques Used In A Christmas Carol,
Get Smart Agent 99 Before Surgery,
Articles W