Predictions

Terra Luna Classic Price Prediction, Will LUNC reach $0.36 in price?

LUNC, Terra Luna Classic, may reach $0.36 in 2023.
The most pessimistic price forecast from Terra Luna Classic values LUNC at $0.000044 in 2023.
The previous all-time high for Terra Luna Classic occurred on April 5, 2022, when LUNC traded for $119.18.

Last week, Terra Luna Classic cost $0.000058 at that moment. It has changed -2.17% over the last week and is now worth $0.000056. In reality, LUNC has dropped by -3.25% during the last 24 hours. A modest pessimistic mood pervades the cryptocurrency market. However, the long-term outlook is still positive, and in 2024, LUNC may reach $0.00027.

As of the time this article was written, Terra Luna Classic had a total market cap of $325,318,273 and a total supply of $5800354039733.48.

Disclaimer

The programme will automatically estimate a positive price for some coins with few to no data points and no previous data. Our AI bot is unable to understand the whitepaper, tokenomics, or the integrity of the team. Please invest prudently after reading the project’s whitepaper and keeping in mind that the coin’s price, which you are going to see here, can drop significantly based on a number of variables. This price forecast is currently being carried out by a computer that is still in its early beta stages. It must absolutely not be construed as investment advice. No human has independently confirmed the price projected below, so use your judgement and choose wisely even though the brightest engineers are currently fine-tuning and upgrading the algorithm.

About Terra Luna Classic

Terra Luna Classic (LUNC): An overview

Source: Twitter and the LUNC Classic Community

The open-source blockchain protocol Terra, now referred to as Terra Luna Classic (LUNC), supports a vibrant ecosystem of decentralised apps (dApps) and top-notch development tools. It is constructed using the Cosmos SDK. The blockchain uses the Tendermint proof-of-stake (PoS) consensus method to pave the way for the next-generation of decentralised finance (DeFi).

LUNC, the native coin of the network, is mostly employed for staking. In addition, it can be used for governance, which enables users to modify the Terra protocol.

It also functions as a payment platform for an algorithmic stablecoin. Its primary function was to act as a “counterpart” to TerraUSD (UST), now Terra Classic USD (USTC), by absorbing price swings.

The attack that changed it all

After an assault that took advantage of a flaw in the blockchain protocol, UST was unable to properly mint and burn its tokens to balance its supply and demand at the $1 peg. After losing its dollar peg, UST saw a catastrophic [nearly 99%] drop of value, one of the biggest crypto collapses in history.

Do Kwon stepped up the resurrection efforts as a result of the subsequent occurrences. He then suggested a hard fork, which received a majority of the community’s support.

As a result, two Terra blockchains now run concurrently:

The original Terra blockchain, with the token renamed to “Luna Classic (LUNC).”
Terra 2.0, a recently released blockchain platform, has a native token named “LUNA.”

The goal of Terra 2.0 was to take over all the existing network’s protocols and programmes. The network’s stablecoins also received a big improvement.

The names of all the original network stablecoins, such as UST, KRT, and EUT, were changed. At the time, they were referred to as Terra Classic stablecoins and had the respective designations USTC, KRTC, and EUTC.

Notably, there were no stablecoins with the “Terra” trademark on the latest blockchain generation. This differentiation served to further distinguish the old chain apart from the new one, preserving the heritage of the former while paving the way for the latter’s new products and services.

What does LUNC’s road ahead look like?

Source: LUNC classic community/Twitter

Community sentiment

LUNC’s community showed encouraging signals of resuscitation despite the demise of its network, as “#LUNCcommunity” was trending on Twitter.

By voting against controversial suggestions on LUNC’s burn in the hopes of recovering the losses from the last meltdown, the community contributed to the coin’s recovery.

Luna Classic was turned over to its community to manage while Kwon and his team concentrated on Terra 2.0’s development.

Effects of LUNC’s burn tax

The community started a token burn process in an effort to repair the harm caused by over-minting. at the intention of lowering the supply from 6.8 trillion to 10 billion, this initiative started at a burn rate of 1.2% for each LUNC transaction. In addition to reducing supply, the goal was to increase demand and value, particularly in the wake of a significant market meltdown.

This reduction was orchestrated in large part by validators, and their efforts weren’t ignored. An increase in social media mentions and interaction, especially on sites like LunarCrush, suggested that the community had an optimistic reaction.

Binance and KuCoin, two significant exchanges, stepped up and supported the burn mechanism, sending positive signals to other platforms to help LUNC’s recovery. The combination of social traction and exchange backing prepared the ground for the possible rise of the cryptocurrency.

Approximately 74.91 billion LUNC have been destroyed since May 2022. While the initial burn rate for each transaction was 1.2%, it was adjusted to 0.2% in an effort to boost blockchain activity.

However, the circulating supply was not sufficiently affected by this rate. In March 2023, a proposal was made in response to this realisation, and by May of that same year, the burn rate had been raised to 0.5%. There are 5.82 trillion LUNC in use as of September 2023.

What’s happening with USTC?

Recently, the Terra LUNA Classic community decided to halt the production of USTC. The USTC-LUNA switch system, which made it simple for users to interchange UST and LUNA, was the main cause for concern. However, during financial crises, this approach became troublesome.

A proposal to stop using this swapping mechanism was made in order to protect investment interests. In essence, the goal of this plan is to reestablish the coin’s peg to the dollar.

History of Terra

Terra.money is the source

Terraform Labs created the Terra blockchain.Daniel Shin and Kwon founded the business, which made its debut in January 2018. After its launch, an Initial Coin Offering (ICO) for its native token, LUNA, was held in the early months of 2019. Based on market capitalization, Terra’s outstanding performance over the ensuing years put it into the top ten largest cryptocurrencies globally.

The white paper of Terra explains the founding team’s philosophy: they aimed to realise Bitcoin’s (BTC) original goal of a decentralised peer-to-peer electronic currency system. In order to achieve this aim, they came up with a novel strategy utilising stablecoins.

Before helping to start Terra, Shin established Ticket Monster (TMON), a well-known South Korean e-commerce company. Later, he helped co-found Fast Track Asia, an incubator that helps business owners build strong businesses from scratch.

The founding of Anyfi, a company focused on decentralised wireless mesh networking technologies, is one of Kwon’s many accomplishments, on the other hand. During his time working as a software developer for companies like Apple and Microsoft, he significantly improved his abilities.

Terra Luna Classic (LUNC) Price Analysis

The LUNC market displayed a bearish trend on the daily chart, with the trading price ending the session at $0.00006296. The once-welcoming support levels became severe hurdles as the price went into a downward spiral.

LUNC Daily Chart

LUNC started off the examined period in a rather consistent manner, stabilising between $0.000082 and $0.000077. The lowest limit of this range, $0.000077, served as a reliable support level for a while.

However, everything changed when this support level was broken in the middle of August, turning it into newfound resistance. This inversion signalled the increasing strength of a pronounced bearish trend for LUNC, which drove the price lower.

Before finding stability around $0.000057, the price of LUNC encountered and tested a number of support levels during this drop. By the end of the period we looked at, there was a glimpse of hope as a tiny bullish rally was seen, however it is yet unclear whether it will continue.

The bulk of this time, the trade volume remained at a median level, neither excessively high nor exceptionally low. However, the increase in trade volume that became apparent towards the end of September is noteworthy.

During this time, unique patterns may be seen in the Bollinger Bands. The bands widened as LUNC’s price broke through its earlier consolidation, indicating a rise in volatility. The bands, however, started to close again as September drew to a close, indicating that the price volatility was lessening.

The price of LUNC largely traded below the 20-week moving average (MA) over this time, showing a strong negative trend. The price didn’t begin to move above this moving average until we were nearly finished with our analysis.

The negative environment was further highlighted by the Relative Strength Index (RSI). It mostly remained below the neutral level of 50. The initial steep price decrease coincided with a startling low of 19.30 in mid-August, indicating very oversold conditions. The RSI also made two more trips to the oversold area before rising over the 50 line and ending at 52.76.

Should you consider buying LUNC?

While the predominant trend has been bearish, the latest hints from the Bollinger Bands contraction, the RSI surpassing the 50 level, and a jump in volume can suggest a potential shift in trend or a pullback, taking into account the indicators studied. Additionally, the community’s choice to stop minting USDC has attracted a lot of media and investment interest.

In order to reduce risk, traders thinking about a “buy” should aim for a range that is closer to the previously indicated recent support level around $0.000057. However, it’s important to take caution and put strict risk management methods into place because of the current gloomy attitude and uncertainty regarding the sustainability of the recent positive advance.

Terra Luna Classic Price Prediction

The year 2021 was a busy one for Terra Luna Classic. Terra Luna Classic price predictions for the short term and the long term have been separated to make the most recent LUNC price prediction easier to understand. LUNC’s trading volume at the time this article was written was $11,252,074.The price of Terra Luna Classic has decreased over the last 30 days by -0.23%.

Our analysis indicates that the average price of Terra Luna Classic for December 2023 will be $0.3, and the highest price that can be predicted for December 2023 will be $0.32.

Additionally, based on our analysis of the long term, we project that the average price of Terra Luna Classic for April 2024 will be $0.00024 and that the highest price will be $0.00025.

Terra Luna Classic’s Short Term Price Prediction

Date Avg Price Lowest Price Highest Price
18 Oct 2023 $0.53 $0.49 $0.56
19 Oct 2023 $0.5 $0.47 $0.54
20 Oct 2023 $0.45 $0.42 $0.48
21 Oct 2023 $0.36 $0.34 $0.39
26 Oct 2023 $0.33 $0.31 $0.36
31 Oct 2023 $0.26 $0.25 $0.28
10 Nov 2023 $0.3 $0.28 $0.32
December 2023 $0.3 $0.28 $0.32

Terra Luna Classic price prediction 18 Oct 2023: Our estimate predicts that Terra Luna Classic’s price on October 18, 2023, will be between $0.49 and $0.56, with an average price of LUNC of about $0.53.

Terra Luna Classic price prediction 19 Oct 2023: Our estimate predicts that Terra Luna Classic will cost between $0.47 and $0.54 on October 19, 2023, with the average price of LUNC being around $0.5.

Terra Luna Classic price prediction 20 Oct 2023: Our estimate predicts that Terra Luna Classic’s price on October 20, 2023, will be between $0.42 and $0.48, with an average price of LUNC of about $0.45.

Terra Luna Classic price prediction 21 Oct 2023: Our estimate predicts that Terra Luna Classic’s price on October 21, 2023, will be between $0.34 and $0.39, with an average price of LUNC of about $0.36.

Terra Luna Classic price prediction 26 Oct 2023: According to our analysis, the cost of Terra Luna Classic on October 26th, 2023, should be between $0.31 and $0.36, with the average cost of LUNC being around $0.33.

Terra Luna Classic price prediction 31 Oct 2023: According to our analysis, the price of Terra Luna Classic on October31, 2023, should be between $0.25 and $0.28, with the average price of LUNC being around $0.26.

Terra Luna Classic price prediction 10 Nov 2023: According to our analysis, the cost of Terra Luna Classic on November 10th, 2023, should be between $0.28 and $0.32, with the average cost of LUNC being around $0.3.

Terra Luna Classic price prediction December 2023: According to our study, the price of Terra Luna Classic in December 2023 should be between $0.28 and $0.32, and the average price of LUNC should be close to $0.3.

Terra Luna Classic’s Long Term Price Prediction

The long-term price forecast for Terra Luna Classic is shown below and looks at the pricing outlook for LUNC. The price of Terra Luna Classic was last seen at $0.000056, with a market capitalization of $325,318,273 and $11,252,074 in trading volume. By examining previous price movement, current events, and community mood, LUNC is able to anticipate future prices.

Years Avg Price Lowest Price Highest Price
2023 $0.3 $0.24 $0.36
2024 $0.00022 $0.00018 $0.00027
2025 $0.00028 $0.00022 $0.00034
2026 $0.00036 $0.00028 $0.00043
2027 $0.00045 $0.00036 $0.00054
2028 $0.00057 $0.00045 $0.00068
2029 $0.00072 $0.00057 $0.00086
2030 $0.0009 $0.00072 $0.001
2031 $0.0011 $0.00091 $0.0013
2032 $0.0014 $0.0011 $0.0017
2033 $0.0018 $0.0014 $0.0021
2034 $0.0022 $0.0018 $0.0027

Terra Luna Classic price prediction 2023: According to our study, the cost of Terra Luna Classic in 2023 should be between $0.24 and $0.36, and the average cost of LUNC should be close to $0.3.

Terra Luna Classic price prediction 2024: According to our analysis, the cost of Terra Luna Classic in 2024 should be between $0.00018 and $0.00027, with the average cost of LUNC being close to $0.00022.

Terra Luna Classic price prediction 2025:  According to our analysis, the cost of Terra Luna Classic for 2025 should be between $0.00022 and $0.00034, with the average cost of LUNC being around $0.00028.

Terra Luna Classic price prediction 2026:  According to our analysis, the cost of Terra Luna Classic for 2026 should be between $0.00028 and $0.00043, with the average cost of LUNC being around $0.00036.

Terra Luna Classic price prediction 2027:  According to our analysis, the cost of Terra Luna Classic for 2027 should be between $0.00036 and $0.00054, with the average cost of LUNC being around $0.00045.

Terra Luna Classic price prediction 2028:  According to our analysis, the cost of Terra Luna Classic in 2028 should be between $0.00045 and $0.00068, with the average cost of LUNC being around $0.00057.

Terra Luna Classic price prediction 2029:  According to our analysis, the cost of Terra Luna Classic in 2029 should be between $0.00057 and $0.00086, with the average cost of LUNC being around $0.00072.

Terra Luna Classic price prediction 2030:  According to our study, the price of Terra Luna Classic for 2030 should be between $0.00072 and $0.001, and the average price of LUNC should be around $0.0009.

Terra Luna Classic price prediction 2031:  Our analysis predicts that Terra Luna Classic will cost between $0.00091 and $0.0013 in 2031, with the average price of LUNC being around $0.0011.

Terra Luna Classic price prediction 2032:  According to our analysis, the cost of Terra Luna Classic for 2032 should be between $0.0011 and $0.0017, with the average cost of LUNC being close to $0.0014.

Terra Luna Classic price prediction 2033:  According to our analysis, the cost of Terra Luna Classic for 2033 should be between $0.0014 and $0.0021, with the average cost of LUNC being close to $0.0018.

Terra Luna Classic price prediction 2034:  According to our analysis, the cost of Terra Luna Classic for 2034 should be between $0.0018 and $0.0027, with the average cost of LUNC being close to $0.0022.

A Historical look at Terra Luna Classic, LUNC’s price:

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