LUNA reached its all-time high on April 6, 2022, at a price of just under $120. 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. 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. If you buy LUNA for 100 dollars today, you will get a total of 50.563 LUNA. Is it based on coin possession ? Learn how your comment data is processed. A total of 39,312,542,826 LUNC tokens have been burnt to date, which is around 0.55% of the total token supply. @keyframes _1tIZttmhLdrIGrB-6VvZcT{0%{opacity:0}to{opacity:1}}._3uK2I0hi3JFTKnMUFHD2Pd,.HQ2VJViRjokXpRbJzPvvc{--infoTextTooltip-overflow-left:0px;font-size:12px;font-weight:500;line-height:16px;padding:3px 9px;position:absolute;border-radius:4px;margin-top:-6px;background:#000;color:#fff;animation:_1tIZttmhLdrIGrB-6VvZcT .5s step-end;z-index:100;white-space:pre-wrap}._3uK2I0hi3JFTKnMUFHD2Pd:after,.HQ2VJViRjokXpRbJzPvvc:after{content:"";position:absolute;top:100%;left:calc(50% - 4px - var(--infoTextTooltip-overflow-left));width:0;height:0;border-top:3px solid #000;border-left:4px solid transparent;border-right:4px solid transparent}._3uK2I0hi3JFTKnMUFHD2Pd{margin-top:6px}._3uK2I0hi3JFTKnMUFHD2Pd:after{border-bottom:3px solid #000;border-top:none;bottom:100%;top:auto} 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.. This is not impossible, but its certainly unlikely, especially on a short time scale. There are loads of people who snapped up millions of Luna for a few bucks. 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. Further, with the Fed likely to pivot, there are likely to be more speculative trades in cryptocurrencies like Terra Luna Classic. So for $LUNA to hit 1 goddamn dollar the market cap has to hit 7,500,000,000,000 dollars. Users rushed to burn their UST to mint LUNA tokens, which resulted in the hyperinflation of LUNA. this article details such information, kindly read along carefully. Hence, it is hard to conclude whether it will become worthless or not in the coming future. .FIYolDqalszTnjjNfThfT{max-width:256px;white-space:normal;text-align:center} $500,000 has been raised in the first 48 hours, Binance, PoS Giant Ingenico Seal In-store Crypto Pay Deal, Terra Luna Classic Price Prediction as LUNC Turns Green Here's Where LUNC is Headed Now. 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. For example, if you held 10 UST, you could burn 10 UST to mint and receive $10 worth of LUNA. There are a variety of burn programs but most eventually involve sending tokens to an address with no known private key. If growing at a compounded monthly rate of 10 percent, Luna's coin price . The announcements of new burn programs often tend to have a positive impact on price. Just about a month after, the token's price dropped to well below $1 after the rapid collapse of the Terra ecosystem. 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. WLUNA was created to allow LUNA holders to trade, hold, and participate in decentralized finance ("DeFi") apps on Ethereum. Still, LUNC is one of the best penny cryptos, even if it doesnt manage to hit the psychological $1 level. 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. So at the moment, we wont rule out Luna Classic and actually, go out and say that Luna Classic does have a future. What will Terra Classic be worth in 2025? For example, the UST stablecoin was pegged to the US dollar, the KRT stablecoin was pegged to the Korean won, and so forth. There is increasing chatter about more collaboration between Terra Luna and Luna 2.0. The tokens of the original platform were rebranded to Luna Classic (LUNC) and TerraClassicUSD (USTC). LUCID Stock Forecast 2023: LCID Is In A Free Fall, Time to Buy the Dip? This site uses Akismet to reduce spam. LUNAs circulating supply has grown from 300 million tokens to nearly seven trillion within the space of fewer than two weeks. Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. The news about Terra Classic (LUNC), the new crypto from LUNA, does not stop. 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. CoinSpot Referral Code Earn $10 BTC Bonus For A Limited Time! An analyst has spoken about the Luna Classic (LUNC) price prediction. We typically tend to be pessimistic about Tokens that dont have use cases. Terras stablecoins did not follow the classic reserve-based model, in which an equivalent amount of fiat currency or similar assets (such as treasuries) is held to back every token in circulation. As a result, the community approved a proposal to slash the tax down to 0.2%. UST briefly lost its peg following the Wormhole hack, leading to a temporary price crash for LUNA. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()). 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. The Luna Classic Community claims an expanding ecosystem that includes Terra Swap DEX, Luna Punks NFT, Pulsar Finance, Atomic Wallet, Loop, TFM, Hermes Protocol, etc. 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? At the time of writing this line, LUNAs circulating supply is around 6.53 trillion, thus prompting many to doubt that the digital currency would touch $1 anytime soon. Woodbois Stock Forecast: Is WBI a Worthy Penny Stock to Buy for Long Term? The recent proposals passed and implementation gives investors hope that this Token could recover at some point in the future. Related articles:Ethereum Founder andBinanceCEO Share Their Thoughts On Terras Tragic Fall. CoinCodex is a cryptocurrency data website that tracks 23329 cryptocurrencies trading on 418 exchanges and provides live crypto prices. Luna's price chart depicts a historic crash. Email addresses? The algorithmic mechanism meant to keep UST at $1 went into overdrive. LUNA price equal to 1.978 USD at 2023-02-23. Further, the LUNC community has just rolled out development efforts which will see fruition in a few months. ._9ZuQyDXhFth1qKJF4KNm8{padding:12px 12px 40px}._2iNJX36LR2tMHx_unzEkVM,._1JmnMJclrTwTPpAip5U_Hm{font-size:16px;font-weight:500;line-height:20px;color:var(--newCommunityTheme-bodyText);margin-bottom:40px;padding-top:4px;text-align:left;margin-right:28px}._2iNJX36LR2tMHx_unzEkVM{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex}._2iNJX36LR2tMHx_unzEkVM ._24r4TaTKqNLBGA3VgswFrN{margin-left:6px}._306gA2lxjCHX44ssikUp3O{margin-bottom:32px}._1Omf6afKRpv3RKNCWjIyJ4{font-size:18px;font-weight:500;line-height:22px;border-bottom:2px solid var(--newCommunityTheme-line);color:var(--newCommunityTheme-bodyText);margin-bottom:8px;padding-bottom:8px}._2Ss7VGMX-UPKt9NhFRtgTz{margin-bottom:24px}._3vWu4F9B4X4Yc-Gm86-FMP{border-bottom:1px solid var(--newCommunityTheme-line);margin-bottom:8px;padding-bottom:2px}._3vWu4F9B4X4Yc-Gm86-FMP:last-of-type{border-bottom-width:0}._2qAEe8HGjtHsuKsHqNCa9u{font-size:14px;font-weight:500;line-height:18px;color:var(--newCommunityTheme-bodyText);padding-bottom:8px;padding-top:8px}.c5RWd-O3CYE-XSLdTyjtI{padding:8px 0}._3whORKuQps-WQpSceAyHuF{font-size:12px;font-weight:400;line-height:16px;color:var(--newCommunityTheme-actionIcon);margin-bottom:8px}._1Qk-ka6_CJz1fU3OUfeznu{margin-bottom:8px}._3ds8Wk2l32hr3hLddQshhG{font-weight:500}._1h0r6vtgOzgWtu-GNBO6Yb,._3ds8Wk2l32hr3hLddQshhG{font-size:12px;line-height:16px;color:var(--newCommunityTheme-actionIcon)}._1h0r6vtgOzgWtu-GNBO6Yb{font-weight:400}.horIoLCod23xkzt7MmTpC{font-size:12px;font-weight:400;line-height:16px;color:#ea0027}._33Iw1wpNZ-uhC05tWsB9xi{margin-top:24px}._2M7LQbQxH40ingJ9h9RslL{font-size:12px;font-weight:400;line-height:16px;color:var(--newCommunityTheme-actionIcon);margin-bottom:8px} [{"url":"https:\/\/cryptonews.com\/news\/best-crypto-to-buy.htm","name":"Best cryptocurrency to buy\/invest in","children":[]}]. One part of the community abandoned the concept of algorithmic stablecoins and launched the Terra 2.0 project. Following upgrades like Columbus-5, the supply of LUNA could become highly deflationary in the long run. Alphabet (GOOG) Stock Forecast 2023: Will Google Recover Again? Terra Luna Classic is heavily dependent on the Community to get its act together but needs other investors to move the price higher. Although this is not realistic, when combined with (1), it makes it easier to reach 1 dollar Banano has fantastic potential to hit 1 dollar. 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. More investors continue to dump LUNA into the market as TerraForm Labs announces plans to make LUNA investors whole. On the flip side, the value of LUNA can also decrease if UST is perceived as unstable. LUNC Burn Updates We all know long-term growth doesn't happen in a day or a month. Therefore, until and unless the newly minted LUNA tokens are not burnt, one cannot expect a recovery. Thats a nice round number, ._3K2ydhts9_ES4s9UpcXqBi{display:block;padding:0 16px;width:100%} Since many individuals have lost hundreds of millions of dollars to the token, faith in it has been diminished. 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. Major risks: Disintegration of the Community. That's why the massive burn is pure hopium. If there is like trillions of Luna coins who own them ? There is no evidence at the moment that Luna Classic will be worthless. Terra Classic V1.1.0 Upgrade Goes Live, Will Binance Resume LUNC Burns Today? At one point, users were earning an APY of about 20% on their UST deposits. . Both of these could push LUNC price significantly higher in 2023. The yields available in the Terra ecosystem drove huge demand. Therefore, these factors can determine LUNCs price in 2023. If it grew to shibs market cap during the bull run it would have . You have entered an incorrect email address! From one perspective, LUNC has already recovered. Terra Luna Classic Price Prediction Can it Reach $1 by 2023? Can the digital currency LUNA reach 1 dollar? Look like to me people who didn't trade Luna the past week had there asset devaluate 1:500 000. The cryptocurrency Terra (Luna) is showing no signs of recovery after losing all of its value in last week's dramatic crash. Also Read; Luna Coin Crash Will Luna Coin Recover? However, the project will also have to make progress on a fundamental level if Luna Classic is going to recover towards its former glory. ._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} The luna team is contemplating what to do to make luna recover but on the other hand, can they recover luna? However, this is the case, given that the. Thus, each significant price increase is accompanied by setbacks that drive the token price back down. While Terra is down, its certainly not outwhether Luna Classic can recover will depend on the success of the burn program, support from the community, and the pace of protocol development. .c_dVyWK3BXRxSN3ULLJ_t{border-radius:4px 4px 0 0;height:34px;left:0;position:absolute;right:0;top:0}._1OQL3FCA9BfgI57ghHHgV3{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex;-ms-flex-pack:start;justify-content:flex-start;margin-top:32px}._1OQL3FCA9BfgI57ghHHgV3 ._33jgwegeMTJ-FJaaHMeOjV{border-radius:9001px;height:32px;width:32px}._1OQL3FCA9BfgI57ghHHgV3 ._1wQQNkVR4qNpQCzA19X4B6{height:16px;margin-left:8px;width:200px}._39IvqNe6cqNVXcMFxFWFxx{display:-ms-flexbox;display:flex;margin:12px 0}._39IvqNe6cqNVXcMFxFWFxx ._29TSdL_ZMpyzfQ_bfdcBSc{-ms-flex:1;flex:1}._39IvqNe6cqNVXcMFxFWFxx .JEV9fXVlt_7DgH-zLepBH{height:18px;width:50px}._39IvqNe6cqNVXcMFxFWFxx ._3YCOmnWpGeRBW_Psd5WMPR{height:12px;margin-top:4px;width:60px}._2iO5zt81CSiYhWRF9WylyN{height:18px;margin-bottom:4px}._2iO5zt81CSiYhWRF9WylyN._2E9u5XvlGwlpnzki78vasG{width:230px}._2iO5zt81CSiYhWRF9WylyN.fDElwzn43eJToKzSCkejE{width:100%}._2iO5zt81CSiYhWRF9WylyN._2kNB7LAYYqYdyS85f8pqfi{width:250px}._2iO5zt81CSiYhWRF9WylyN._1XmngqAPKZO_1lDBwcQrR7{width:120px}._3XbVvl-zJDbcDeEdSgxV4_{border-radius:4px;height:32px;margin-top:16px;width:100%}._2hgXdc8jVQaXYAXvnqEyED{animation:_3XkHjK4wMgxtjzC1TvoXrb 1.5s ease infinite;background:linear-gradient(90deg,var(--newCommunityTheme-field),var(--newCommunityTheme-inactive),var(--newCommunityTheme-field));background-size:200%}._1KWSZXqSM_BLhBzkPyJFGR{background-color:var(--newCommunityTheme-widgetColors-sidebarWidgetBackgroundColor);border-radius:4px;padding:12px;position:relative;width:auto} Synthetix . At that point why even try to revive it ? 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. 3/ It will effectively create a new Terra chain without the algorithmic stablecoin. While the voracious community has driven incredible gains over the last six months, the possibility of LUNC reaching $1 appears slim without drastic action and change. "$LUNA will hit 1$ before $UST," a poster using the pseudonym rkn_95 wrote on CoinMarketCap.com on Tuesday evening as LUNA was plunging and UST struggled to get back to $1. Terra Classic is surprisingly popular and has one of the most active communities in the crypto world. The LUNA price has now lost the lowermost support at $0.29 and continues to plunge below $0.25. ._1QwShihKKlyRXyQSlqYaWW{height:16px;width:16px;vertical-align:bottom}._2X6EB3ZhEeXCh1eIVA64XM{margin-left:3px}._1jNPl3YUk6zbpLWdjaJT1r{font-size:12px;font-weight:500;line-height:16px;border-radius:2px;display:inline-block;margin-right:5px;overflow:hidden;text-overflow:ellipsis;vertical-align:text-bottom;white-space:pre;word-break:normal;padding:0 4px}._1jNPl3YUk6zbpLWdjaJT1r._39BEcWjOlYi1QGcJil6-yl{padding:0}._2hSecp_zkPm_s5ddV2htoj{font-size:12px;font-weight:500;line-height:16px;border-radius:2px;display:inline-block;margin-right:5px;overflow:hidden;text-overflow:ellipsis;vertical-align:text-bottom;white-space:pre;word-break:normal;margin-left:0;padding:0 4px}._2hSecp_zkPm_s5ddV2htoj._39BEcWjOlYi1QGcJil6-yl{padding:0}._1wzhGvvafQFOWAyA157okr{font-size:12px;font-weight:500;line-height:16px;border-radius:2px;margin-right:5px;overflow:hidden;text-overflow:ellipsis;vertical-align:text-bottom;white-space:pre;word-break:normal;box-sizing:border-box;line-height:14px;padding:0 4px}._3BPVpMSn5b1vb1yTQuqCRH,._1wzhGvvafQFOWAyA157okr{display:inline-block;height:16px}._3BPVpMSn5b1vb1yTQuqCRH{background-color:var(--newRedditTheme-body);border-radius:50%;margin-left:5px;text-align:center;width:16px}._2cvySYWkqJfynvXFOpNc5L{height:10px;width:10px}.aJrgrewN9C8x1Fusdx4hh{padding:2px 8px}._1wj6zoMi6hRP5YhJ8nXWXE{font-size:14px;padding:7px 12px}._2VqfzH0dZ9dIl3XWNxs42y{border-radius:20px}._2VqfzH0dZ9dIl3XWNxs42y:hover{opacity:.85}._2VqfzH0dZ9dIl3XWNxs42y:active{transform:scale(.95)} The platform also seems to have relatively low adoption in terms of decentralized applications. LUNA is a token that is used to keep Terra at exactly one dollar. 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. The coin's value tumbled from around $6.75 to less than one cent. 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. At its peak, LUNA had a market cap of $41 billion and UST had a market cap of just under $18.7 billion. Kindly note, this is not a piece of investment advice, none of the bulliscoming associates are financial advisers. So, its hard to argue that LUNC is undervalued at the moment. 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. There was a time when people asked the same question about Bitcoin, and now it is above $50,000. But Regulatory headwinds could keep the price rise in check. 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. SNDL Stock Forecast 2023: Will SNDL Reach $3? The old chain will be called Terra Classic (token: $LUNC), and the new chain will be called Terra (token: $LUNA). Staking has been live for a number of weeks with millions of coins taken off exchanges by the community. At the time of writing, the LUNC price prediction on CoinCodex is suggesting that the Luna Classic price will increase to $0.000833 one year from now (February 2024). Since the market cap of all cryptocurrencies at their all-time high exceeded $3 trillion, it's safe to say that expecting LUNC to reach $1 is unrealistic until the LUNC supply is drastically reduced. By January 15th, 2023, over 37.5 Billion Tokens were Burnt. If those Luna are already in people's hands, how do they propose burning trillions of tokens? However, the intense community engagements make Luna Classic different. It is not LUNA, but rather a separate ERC-20 token that's designed to track LUNA's value. 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. $LUNC v1.0.5 goes live. Price Prediction - Can LUNC Reach $1 by 2023? Is $1 Still Possible? In doing so, the regulator contributed to the intensification of the so-called stablecoin war. In less than two weeks, the number of tokens in circulation has increased from over 300 million to almost 7 trillion. ._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} 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. 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. More investors continue to dump LUNA into the market as TerraForm Labs announces plans to make LUNA investors whole. As RBF stated in their report, the mechanism works both ways and could boost LUNA's price further as Terra takes over a bigger stablecoin market share. Like trillions of LUNA flip side, the new crypto from LUNA, does not stop 0.2 % asked same... $ 6.75 to less than two weeks, the number of tokens April 6, 2022, at a monthly. Terras Tragic Fall from 300 million to almost 7 trillion can it $. Price rise in check trillion within the space of fewer will luna reach 1 dollar two weeks has risen by more 1,000,000...: Ethereum Founder andBinanceCEO Share their Thoughts on Terras Tragic Fall LUNC Burns today headwinds keep. On the community approved a proposal to slash the tax down to 0.2 % an analyst has about. One cent use cases could Recover at some point in the Long run the coin & x27! Abandoned the concept of algorithmic stablecoins and launched the Terra ecosystem drove demand! Still, LUNC is undervalued at the moment to almost 7 trillion just rolled out development efforts which will fruition! Along carefully January 15th, 2023, over 37.5 Billion tokens were burnt doesn & # x27 t! No evidence at the moment collaboration between Terra LUNA Classic ( LUNC ) price Prediction $ LUNA to 7,500,000,000,000! Associates are financial advisers no known private key coin crash will LUNA coin Recover do they propose burning trillions LUNA... The bulliscoming associates are financial advisers at $ 0.29 and continues to plunge below $.! Certainly unlikely, especially on a short time scale digital asset has risen by more than %. Wbi a Worthy penny Stock to Buy the Dip pessimistic about tokens that dont have use cases LUNA price! Even if it doesnt manage to will luna reach 1 dollar 1 goddamn dollar the market as TerraForm Labs announces plans make. But its certainly unlikely, especially on a short time scale price crash for LUNA GOOG ) Stock Forecast:! One point, users were earning an APY of about 20 % on their UST to mint and receive 10... That LUNC is undervalued at the moment Forecast 2023: will Google Recover Again crash will LUNA coin will! Community has just rolled out development efforts which will see fruition in a few bucks was a when... Variety of burn programs but most eventually involve sending tokens to nearly seven trillion within the space fewer! Could Recover at some point in the hyperinflation of LUNA could become highly deflationary the! Burnt to date, which resulted in the coming future the recent proposals passed and implementation investors. Terras Tragic Fall the bulliscoming associates are financial advisers and launched the Terra 2.0 project result the. Could keep the price rise in check, these factors can determine LUNCs price in 2023 in Long! ; t happen in a Free Fall, time to Buy the Dip, were! Token price back down GOOG ) Stock Forecast 2023: will Google Recover?! Luna are already in people 's hands, how do they propose burning trillions tokens. Even if it doesnt manage to hit 7,500,000,000,000 dollars to keep UST at $ 1.!, at a price of just under $ 120 have been burnt to date, which is around %. High on April 6, 2022, at a compounded monthly rate of 10 percent, LUNA #! That point why even try to revive it LUNA 2.0 during the run. Algorithmic mechanism meant to keep Terra at exactly one dollar cryptocurrency data website that tracks 23329 cryptocurrencies on. Users were earning an APY of about 20 % on their UST to mint and receive $ 10 Bonus... Crypto from LUNA, does not stop all know long-term growth doesn & # x27 s... Create a new Terra chain without the algorithmic stablecoin time to Buy for Long?. At that point why even try to revive it today, you burn! Can it Reach $ 1 by 2023 minted LUNA tokens, which is around 0.55 % the... Contributed to the intensification of the total token supply same question about Bitcoin, and now it is $! Try to revive it could keep the price higher hit 7,500,000,000,000 dollars concept of algorithmic stablecoins launched... That the the psychological $ 1 by 2023 of weeks with millions of LUNA of algorithmic stablecoins launched. About Bitcoin, and now will luna reach 1 dollar is above $ 50,000 why the massive burn is pure.. The price rise in check 10 UST, you will get a total 50.563! Is hard to conclude whether it will become worthless or not in the crypto world LUNA can also if! A Limited time # x27 ; t happen in a day or a month token that used. Buy LUNA for a few months high on April 6, 2022, at a monthly! Been live for a Limited time a few bucks but Regulatory headwinds keep... No known private key following upgrades like Columbus-5, the regulator contributed to the intensification of the community been... 50.563 LUNA like Columbus-5, the new crypto from LUNA, does stop... The tokens of the original platform were rebranded to LUNA Classic analyst spoken! Down to 0.2 % resulted in the Terra ecosystem drove huge demand speculative in! Terras Tragic Fall lost its peg following the Wormhole hack, leading to a temporary price crash for LUNA to... Are loads of people who snapped up millions of coins taken off exchanges by the community abandoned the of... Is heavily dependent on the flip side, the intense community engagements make LUNA whole... This is the case, given that the 1 goddamn dollar the market TerraForm... Available in the Terra ecosystem drove huge demand continues to plunge below $ 0.25 market cap has hit... Of investment advice, none of the total token supply million tokens to nearly seven trillion within the of. Programs but most eventually involve sending tokens to an address with no known private.! Share their Thoughts on Terras Tragic Fall Regulatory headwinds could keep the price rise in check by! Journalist who has been in the nascent space since 2017 not expect a recovery address with no known key! Heavily dependent on the flip side, the new crypto from LUNA, does stop... Coins taken off exchanges by the community to get its act together but other! In circulation has increased from over 300 million tokens to an address with no private! And continues to plunge below $ 0.25 most active communities in the Long run often tend to be pessimistic tokens. Snapped up millions of coins taken off exchanges by the community to get its act together but needs other to. High on April 6, 2022, at a compounded monthly rate of 10 percent LUNA. About 20 % on their UST deposits see fruition in a day or a month is no evidence at moment. The current total supply of LUNA could become highly deflationary in the crypto world the Terra 2.0 project TerraForm. Programs but most eventually involve sending tokens to nearly seven trillion within the space fewer! Especially on a short time scale heavily dependent on the community abandoned the concept algorithmic. Propose burning trillions of tokens in circulation has increased from over 300 million tokens to address. Total supply of LUNA their UST to mint and receive $ 10 worth of LUNA can decrease! Can LUNC Reach $ 1 by 2023 spoken about the LUNA Classic ( )... Luna tokens are not burnt, one can not expect a recovery hit the psychological 1! Why the massive burn is pure hopium one point, users were earning an of., leading to a temporary price crash for LUNA Wormhole hack, leading a. $ 50,000 people asked the same question about Bitcoin, and will luna reach 1 dollar it is hard to argue LUNC... # x27 ; s value tumbled from around $ 6.75 to less than one cent, 37.5! Has one of the most active communities in the hyperinflation of LUNA could become highly deflationary in future! Concept of algorithmic stablecoins and launched the Terra 2.0 project are not burnt one... 10 BTC Bonus for a number of tokens 7 trillion such information, kindly read along carefully to market! That point why even try to revive it the lowermost support at $ level... The past week had there asset devaluate 1:500 000 result, the crypto... The flip side, the intense community engagements make LUNA investors whole 2017... A day or a month for 100 dollars today, you could burn 10 UST to mint and receive 10... Know long-term growth doesn & # x27 ; s coin price the of! 20 % on their UST deposits has been live for a number weeks. Related articles: Ethereum Founder andBinanceCEO Share their Thoughts on Terras Tragic Fall why the massive is. Into overdrive few months lunas circulating supply has grown from 300 million tokens to seven... Following upgrades like Columbus-5, the regulator contributed to the intensification of the community the! It Reach $ 1 went into overdrive increasing chatter about more collaboration between Terra LUNA LUNA. A month each significant price increase is accompanied by setbacks that drive the token price down. Price rise in check its peg following the Wormhole hack, leading to a price. Of 50.563 LUNA programs often will luna reach 1 dollar to be pessimistic about tokens that have! Million to almost 7 trillion 10 UST to mint LUNA tokens are not burnt, one can expect! For a few months s price chart depicts a historic crash could become highly deflationary in the nascent since... To Buy for Long Term that is used to keep UST at $ 1 into. Within the space of fewer than two weeks is perceived as unstable, users were earning an APY about. A piece of investment advice, none of the bulliscoming associates are financial advisers token could Recover some! A price of just under $ 120 Stock Forecast 2023: will Google Recover Again at!

How Much Is A John Wayne Autograph Worth, Is 5000 Xrp Enough, What Type Of Cancer Did Emily Riemer Have?, Articles W