Learn how your comment data is processed. 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. Following upgrades like Columbus-5, the supply of LUNA could become highly deflationary in the long run. Is $1 a pipe dream for, LUNAs circulating supply has grown from 300 million tokens to nearly seven trillion within the space of fewer than two weeks. supply is so close to 7 trillion. The active community could be the ace up Luna Classics sleeve, as LUNC holders are very active in promoting the coin on social media platforms such as Twitter. Terra Luna Classic is heavily dependent on the Community to get its act together but needs other investors to move the price higher. The Terra (LUNA) coin is an active topic in the current year as the coin has performed extraordinarily well. The coin has a market capitalization of over $1 billion, despite the chains DeFi ecosystem having a TVL of only about $6.5 million as of December 9, 2022. That's around 5.9 trillion coins, leaving about 170 billion left over. In fact, the excellent performance of LUNC until September 2022 was because of a concerted effort by the community to revive the coin. Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. Vroom Stock Forecast: Will VRM Stock Rise Above $2? From one perspective, LUNC has already recovered. In 2024, the price of one Terra is destined to drop to a minimum of $205.62. Purpose: Burn programs are often launched to influence token prices to rise quickly or to prevent a rapid fall in Token prices. 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. Sofi Stock Forecast 2023: Will SOFI Stock Recover? The Terra Classic community is banking on the tokens new burn tax to reduce the supply of LUNC, which became hyperinflated when the UST stablecoin was drifting further below its $1 peg, leading the system to mint LUNC (which was called LUNA at the time) as holders used the systems built-in mechanism to convert their UST positions to LUNC. 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.. The other issue is that many of these Burn programs are not linked to the minting of new tokens and therefore the purpose of reducing the Tokens themselves is not met. Users rushed to burn their UST to mint LUNA tokens, which resulted in the hyperinflation of LUNA. Following the crash of UST, LUNAs circulating supply has been on a rapid increase since the ugly incident occurred this month. We all know long-term growth doesn't happen in a day or a month. This site uses Akismet to reduce spam. LUNC Burn Updates His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. 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. However, Luna Classic has underperformed both ETH and LUNA 2.0 after the Burn tax was rolled out. Luna's price chart depicts a historic crash. As of September 2021, it offers stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik, and the International Monetary Funds Special Drawing Rights basket of currencies and it intends to roll out additional options. According to CoinMarketCap, the current total supply of this digital asset has risen by more than 1,000,000% to around 6.9 trillion tokens. MULN Stock Forecast 2023: Can MULN Rise Above $0.30? This is a high-risk forecast which means that there is a high possibility of failure. There are a variety of burn programs but most eventually involve sending tokens to an address with no known private key. Trillions of new coins were created when the protocol . Investors are now unsure if its price can ever recover. Through a WLUNA partner, 1 LUNA can be exchanged for 1 WLUNA, and vice-versa. 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. Please enter your username or email address to reset your password. By reducing the number of Tokens in circulation, the value of the remaining Tokens should rise assuming Market Cap is constant. More investors continue to dump LUNA into the market as TerraForm Labs announces plans to make LUNA investors whole. ._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)} Can the digital currency LUNA reach 1 dollar? But the May crash has taken a toll on this potential. .s5ap8yh1b4ZfwxvHizW3f{color:var(--newCommunityTheme-metaText);padding-top:5px}.s5ap8yh1b4ZfwxvHizW3f._19JhaP1slDQqu2XgT3vVS0{color:#ea0027} Read on about the Latest Terra Luna Classic Price Prediction 2023, 2025 and 2030. Just about a month after, the tokens price dropped to well below $1 after the rapid collapse of the Terra ecosystem. LUNAs price might potentially rise to $0.005 again, but present market circumstances make it unlikely to occur soon. For LUNA to reach $1, the market capitalisation would have to reach $7 trillion, assuming the existing supply remains unchanged. The burn started on September 21 and, according to the exchange, nearly 5.6 billion LUNC tokens - equating to approximately $1.8 million - were sent to a burn address. But Regulatory headwinds could keep the price rise in check. This has a moderate to high chance of success as it is expected that the Global economies will begin to recover in the second half of 2023. 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. 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. 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] . 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. . Kindly note, this is not a piece of investment advice, none of the bulliscoming associates are financial advisers. Luna Classic Price Prediction 2023 is $0.000222, Luna Classic Price Prediction 2025 is $0.000483, Luna Classic Price Prediction 2030 is $0.00307, Top 5 Most Read Articles on CrowdwisdomLive. *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%. Will Luna Reach 1 Dollar Again? Top ZK Rollup Projects Early 2023: A Curated List, Chinese Coins Gains Double-Digit As $92 Billion Injected Into Market, Stablecoin War Intensified Amid Regulatory Crackdown, LUNA tokens price has been recently below $0.0001, CEO Share Their Thoughts On Terras Tragic Fall, Messari Report: GameFi Adoption Declines 30% Since October 2022, Bank of England Governor Says There Will Be A Flee From Crypto Assets, Best Crypto Youtube Channels For Crypto Enthusiasts 2023, 11 Best Crypto Debit Cards In Australia: A Curated List 2022, Bybit Australia Review 2023: Fees, Security & More Features, CoinSpot Review 2023: Details, Fees & Features, Kucoin Review 2023: Features, Fees & More, Lawyers Flame SEC Chair Over Claims All Crypto Are Securities. The team needs the community to trust them again and give them a second chance but the community is tired of the project due to the huge loss of funds and loss of lives. That future is hazy at the moment but efforts on to clear the haziness. If growing at a compounded monthly rate of 10 percent, Luna's coin price . UST briefly lost its peg following the Wormhole hack, leading to a temporary price crash for LUNA. Press question mark to learn the rest of the keyboard shortcuts. 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%. At one point, users were earning an APY of about 20% on their UST deposits. this is extremely difficult to do because it requires a lot of attention from the public and finance to power the project. While the voracious community has driven incredible gains over the last six months, the possibility of LUNC reaching $1 appears slim without drastic action and change. Given that the whole crypto market capitalisation peaked at $3 trillion, this is now unachievable. 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. However, the excessive focus on Burn and staking is unlikely to help Luna Classic. One part of the community abandoned the concept of algorithmic stablecoins and launched the Terra 2.0 project. What will Terra Classic be worth in 2025? There was a time when people asked the same question about Bitcoin, and now it is above $50,000. Nearly 100 immigrants who were rounded up during a 2018 raid at a meat processing plant in Tennessee have reached a $1.17 million settlement against the U.S. government and federal agents, who . LUNA is a token that is used to keep Terra at exactly one dollar. Thanks! That is not to say that it will not continue to make investors good gains in the short, medium and long terms, but without a significant slashing of the supply soon, it appears unlikely to see that kind of growth in the next 12 months. 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. Can someone explain this to me? LUNA reached its all-time high on April 6, 2022, at a price of just under $120. However, the delisting of both the assets from various exchanges may hinder the progress of the plan largely. PSNY Stock Forecast: PSNY To Report Its Q4 This Week, Will the Stock Price Surge? . LATEST NEWS: Terra Luna Classic (LUNC) Price Today Reaches $0.0005. The current LUNC burn rate is 450,819,101, which is a decrease from the previous rate. Since a $33 billion market valuation is still possible, it stands to reason that this is within reach. However, the intense community engagements make Luna Classic different. I thought that was forbidden to avoid forks to append. And what about a burning option wich Burns 3% of every transaction? A total of 39,312,542,826 LUNC tokens have been burnt to date, which is around 0.55% of the total token supply. ._3bX7W3J0lU78fp7cayvNxx{max-width:208px;text-align:center} On the flip side, the value of LUNA can also decrease if UST is perceived as unstable. .Rd5g7JmL4Fdk-aZi1-U_V{transition:all .1s linear 0s}._2TMXtA984ePtHXMkOpHNQm{font-size:16px;font-weight:500;line-height:20px;margin-bottom:4px}.CneW1mCG4WJXxJbZl5tzH{border-top:1px solid var(--newRedditTheme-line);margin-top:16px;padding-top:16px}._11ARF4IQO4h3HeKPpPg0xb{transition:all .1s linear 0s;display:none;fill:var(--newCommunityTheme-button);height:16px;width:16px;vertical-align:middle;margin-bottom:2px;margin-left:4px;cursor:pointer}._1I3N-uBrbZH-ywcmCnwv_B:hover ._11ARF4IQO4h3HeKPpPg0xb{display:inline-block}._2IvhQwkgv_7K0Q3R0695Cs{border-radius:4px;border:1px solid var(--newCommunityTheme-line)}._2IvhQwkgv_7K0Q3R0695Cs:focus{outline:none}._1I3N-uBrbZH-ywcmCnwv_B{transition:all .1s linear 0s;border-radius:4px;border:1px solid var(--newCommunityTheme-line)}._1I3N-uBrbZH-ywcmCnwv_B:focus{outline:none}._1I3N-uBrbZH-ywcmCnwv_B.IeceazVNz_gGZfKXub0ak,._1I3N-uBrbZH-ywcmCnwv_B:hover{border:1px solid var(--newCommunityTheme-button)}._35hmSCjPO8OEezK36eUXpk._35hmSCjPO8OEezK36eUXpk._35hmSCjPO8OEezK36eUXpk{margin-top:25px;left:-9px}._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP,._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP:focus-within,._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP._3aEIeAgUy9VfJyRPljMNJP:hover{transition:all .1s linear 0s;border:none;padding:8px 8px 0}._25yWxLGH4C6j26OKFx8kD5{display:inline}._2YsVWIEj0doZMxreeY6iDG{font-size:12px;font-weight:400;line-height:16px;color:var(--newCommunityTheme-metaText);display:-ms-flexbox;display:flex;padding:4px 6px}._1hFCAcL4_gkyWN0KM96zgg{color:var(--newCommunityTheme-button);margin-right:8px;margin-left:auto;color:var(--newCommunityTheme-errorText)}._1hFCAcL4_gkyWN0KM96zgg,._1dF0IdghIrnqkJiUxfswxd{font-size:12px;font-weight:700;line-height:16px;cursor:pointer;-ms-flex-item-align:end;align-self:flex-end;-webkit-user-select:none;-ms-user-select:none;user-select:none}._1dF0IdghIrnqkJiUxfswxd{color:var(--newCommunityTheme-button)}._3VGrhUu842I3acqBMCoSAq{font-weight:700;color:#ff4500;text-transform:uppercase;margin-right:4px}._3VGrhUu842I3acqBMCoSAq,.edyFgPHILhf5OLH2vk-tk{font-size:12px;line-height:16px}.edyFgPHILhf5OLH2vk-tk{font-weight:400;-ms-flex-preferred-size:100%;flex-basis:100%;margin-bottom:4px;color:var(--newCommunityTheme-metaText)}._19lMIGqzfTPVY3ssqTiZSX._19lMIGqzfTPVY3ssqTiZSX._19lMIGqzfTPVY3ssqTiZSX{margin-top:6px}._19lMIGqzfTPVY3ssqTiZSX._19lMIGqzfTPVY3ssqTiZSX._19lMIGqzfTPVY3ssqTiZSX._3MAHaXXXXi9Xrmc_oMPTdP{margin-top:4px} to the United States Dollar, Terra (LUNA) has crashed massively from a high of over $125 recorded last month to as low as $0.0000009. this article details such information, kindly read along carefully. An analyst has spoken about the Luna Classic (LUNC) price prediction. Therefore, these factors can determine LUNCs price in 2023. Major risks: Disintegration of the Community. Terra (LUNA) Circulating Supply Approaching 7 Trillion Puts Coin In Doubt of Reaching $1 Anytime Soon. And its price per token went from just $0.52 on Aug. 15, 2020, to $19.25 a year later. They are on exchanges, currently being traded. It has since regained some of its value, though. So, its hard to argue that LUNC is undervalued at the moment. 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. /*# sourceMappingURL=https://www.redditstatic.com/desktop2x/chunkCSS/IdCard.ea0ac1df4e6491a16d39_.css.map*/._2JU2WQDzn5pAlpxqChbxr7{height:16px;margin-right:8px;width:16px}._3E45je-29yDjfFqFcLCXyH{margin-top:16px}._13YtS_rCnVZG1ns2xaCalg{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;display:-ms-flexbox;display:flex}._1m5fPZN4q3vKVg9SgU43u2{margin-top:12px}._17A-IdW3j1_fI_pN-8tMV-{display:inline-block;margin-bottom:8px;margin-right:5px}._5MIPBF8A9vXwwXFumpGqY{border-radius:20px;font-size:12px;font-weight:500;letter-spacing:0;line-height:16px;padding:3px 10px;text-transform:none}._5MIPBF8A9vXwwXFumpGqY:focus{outline:unset} After the ecosystems collapse, the Terra project essentially split in half. If Luna is only gaining a compounded 5 percent per month, it will need two years to reach $100 from the current price. When UST is fixed it can recover, Dependsif they can get supply right then 1$ can work but the market cap will not increase above its ATH, I see $1 is quite impossible, but have you thought about $10? ._2cHgYGbfV9EZMSThqLt2tx{margin-bottom:16px;border-radius:4px}._3Q7WCNdCi77r0_CKPoDSFY{width:75%;height:24px}._2wgLWvNKnhoJX3DUVT_3F-,._3Q7WCNdCi77r0_CKPoDSFY{background:var(--newCommunityTheme-field);background-size:200%;margin-bottom:16px;border-radius:4px}._2wgLWvNKnhoJX3DUVT_3F-{width:100%;height:46px} Hence, it is hard to conclude whether it will become worthless or not in the coming future. Can Luna Classic reach 1 dollar. (the activity undertaken to reach a . Still, LUNC could rise significantly higher by 2030. Terras native token, LUNA, is used to stabilize the price of the protocols stable coins. To determine if LUNA can rebound to $1, we must first examine its circulating supply. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()). In the case of Shiba Inu, we estimated that 99.9999% burns as a way to reach 1 dollar. 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. Lastly, LUNCs worth is also dependent on the number of coins burnt in the future. Luna Classic tended to outperform Luna 2.0 when there was no broader market sentiment. In May of this year, the Terra Luna ecosystem failed, prompting Terraform labs to reorganize the system. Keep track of your holdings and explore over 10,000 cryptocurrencies. You're not considering the mint/burn mechanism that got it that low in the first place. LUNA price equal to 1.978 USD at 2023-02-23. 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? By January 15th, 2023, over 37.5 Billion Tokens were Burnt. 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.