Terra 2.0 (LUNA) Price Prediction: Will LUNC Reach $1?

Within the constantly changing and dynamic realm of cryptocurrencies, Terra (LUNA) is a project that stands out as very unique. Even after going through a huge setback that rocked the cryptocurrency world, LUNA has proven to be incredibly resilient. It still commands a sizable following and is still well-liked by traders and investors alike. This unwavering attention is proof not only of its accomplishments in the past but also of the possibilities that many see in its future. Prior to delving into LUNA price projections, it is imperative to comprehend the distinct features of this project, its trajectory through highs and lows, and the variables that could impact it in the volatile cryptocurrency market.

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Luna Classic (LUNC), the original Terra LUNA coin, has been at the root of the crypto market’s difficulties since May 2022, when the old UST stablecoin lost its peg to the dollar and caused the whole Terra ecosystem to collapse suddenly. After the Terra Luna crash, the network established a new Terra chain called Terra 2.0, and the previous chain was renamed Terra Classic with the tokens LUNA Classic (LUNC) and Terra Classic USD (USTC).

For the first few years after launched in 2019, LUNC has been performing well. And, by the end of 2021, it nearly touched $100 and then among the top 10 cryptocurrencies by market capitalization. But the coin which once trades with triple digits now trades with four zeros in front of its decimal point. Such sudden crash has shocked the entire crypto market, with many investors still concerned about whether the price of LUNC will rise again, as the future of this coin is undoubtedly crucial in determining if a failed crypto can make a comeback and grow.

Will Luna Classic rise again? Can LUNC coin reach $1? Does LUNC coin have a future? In this article, we will review Terra Luna Classic (LUNC) and dive into the future Terra Luna Classic price prediction for 2023, 2025 and 2030, from market trends and technological developments to wider economic influences.

Before we start with a detailed Terra Luna Classic price prediction, let’s dive into the coin’s overview.

Terra Luna Classic (LUNC) Overview

What Is Terra 2.0 (LUNA)?

The native token of the Terra blockchain, LUNA, has a fascinating and intricate history and functionality. At first, it was closely related to the original setup of the Terra ecosystem, which featured the algorithmic stablecoin UST. But after that configuration collapsed spectacularly, LUNA was given new life when Terra 2.0 was established in an attempt to save the environment from impending catastrophe.

The major function of LUNA in its original form on the Terra Classic blockchain was to uphold the UST stablecoin’s peg. A complex system that allowed UST to be exchanged for LUNA at a fixed price and algorithmically maintained its value helped to mitigate price volatility. Though creative, this technique became unsustainable, resulting in a disastrous de-pegging event that destroyed billions of dollars’ worth of market value and undermined investor confidence all throughout the world.

The resurrection of LUNA in Terra 2.0 was a momentous occasion. With this new version, LUNA no longer serves as a stablecoin and instead functions as a governance token for the redesigned Terra ecosystem. This updated version of LUNA appears to be more than simply a cryptocurrency; rather, it’s a symbol of the group’s tenacity and will to grow from its missteps in the past. Terra 2.0, which embodies a more conventional function for cryptocurrencies, places LUNA as a tool for governance and stakeholder engagement, free from the complications and hazards associated with maintaining an algorithmic stablecoin.

Related:

Terra LUNA 2.0 vs. Luna Classic (LUNC): What Are the Differences?

Terra LUNA 2.0 And LUNA Classic (LUNC): Get It All in One Guide

Luna Classic Burn

While most crypto developers and projects left this collapsed blockchain, some community members attempted to bring new life to the network by introducing the Luna Classic Token Burn program. By burning the LUNC, holders hoped this will increase the scarcity of their coins, pushing the price back towards $1.

The massive supply of Terra Luna Classic has been identified as a significant factor in the token’s lackluster performance. To tackle this challenge, the Luna Classic community has collaborated with Binance, the world’s largest crypto exchange by trading volume, to burn LUNC transaction fees. Binance implemented a mechanism to destroy the same amount of coins as the fees it collects from trading LUNC.

LUNC burn is seen as a potential recovery plan for the crashed Terra ecosystem. Actually many investors believe it is the only thing that can save the coin, which will raise prices by reducing oversupply in the market. This burn’s ultimate aim would be to bring down the LUNC’s supply from 5.9 trillion to 10 Billion.

When Binance and other significant CEXs began burning LUNC tokens in September 2022, the price of $LUNC soared 60% in just a few hours. Through this token burn program, the community has so far succeeded in removing 52.5 billion tokens from the circulating supply, with Binance contributing the most significant share of around 30.5 billion LUNC or 58% of the total tokens burned.

However, the LUNC burn mechanism data still turned out to be underwhelming. Despite efforts to reduce Terra Luna Classic’s supply in the market, its circulating supply is still in trillions. As there are nearly 5.9 trillion tokens in circulation, the burn rate works out to a meager 0.089% of the total LUNC supply – extrapolating to a reduction of only a few percentage points on an annualized basis, too minuscule to have any measurable impact on the tokens’ hyperinflated supply.

Binance’s scheme “is meaningless in its direct impact,” a crypto trader, who goes by the pseudonym of Ogle, commented in a Telegram chat, adding, “At this rate, assuming the volume continued to be as high as now (which I doubt), it would take 15 years to get to the total burn goal.”

Related:

Luna Classic Burn: Will LUNC Burn Its Supply?

Luna Classic Burn: Can the Program Really Pump LUNC Price to $1.00?

Terra Luna Classic Price History

Since its launch in 2019, LUNC’s price kept floating around $0.2 and $1.3 until April 2021. When the crypto market boomed in mid-2021, its price began to increase. And, it nearly touched $100 by the end of 2021.

Then in early 2022, LUNC price kept oscillating between $50 and $100 and reached an all-time high (ATH) of $119.18 on 5 April 2022. The next month, its price began to fall and the whole Terra network ecosystem suddenly collapsed in mid-May, with LUNC falling almost to zero. The entire crypto market was adversely affected and lost near $45 billion within a week following the Terra crash, as Bloomberg reported.

The crypto market is likely to remain volatile for the next few months. At press time, Terra Luna Classic price was trading at $0.000091. LUNC remains particularly vulnerable. So far, its performance after the crash in May 2022 is not something to celebrate.

Well, However, if LUNC trades well in the future, it will be a celebration not only for this particular cryptocurrency, but for many others.

Luna Classic Price Analysis

Terra Luna Classic (LUNC) has been on an overall downtrend since topping out for the year above $0.0002 in February. The coin has recently attracted attention in the crypto market as it rebounds after a period of inactivity.

At the time of writing, LUNC was trading at $0.000091 with a market capitalization of $530,039,302, ranking #79 amongst all cryptocurrencies by that metric. In the past 24 hours, the price of Luna Classic has decreased by 1.68% with a trading volume of $78,574,277.

From a technical perspective, LUNC has witnessed a rebound above a significant support level at 0.00009063. This bounce may propel the price towards the $0.00009522 level.

It is important to closely monitor the immediate resistance level at $0.00009517, as a breakout above this level could potentially propel LUNC’s price towards $0.0001028.

The current price means that LUNC is up by 9.5% in a week, although it remains down by 37% since the beginning of the year, with the market becoming increasingly frustrated with the Terra Luna Classic community’s lack of progress in re-pegging sister stablecoin USTC.

This lack of progress has been worsened in recent weeks by disagreement over upgrade proposals, including proposals related to reverse splitting USTC and also to reducing LUNC’s staking undelegation period.

As such, it may take some time for LUNC to mount a serious recovery, although with the coin still undervalued, now may still be a very good time to buy the coin at a discount.

Analyzing technical indicators, LUNC’s chart suggests that it may be in a position to make further gains in the short-term.

Source: TradingView

For one, LUNC’s relative strength index (purple) has risen to 60, indicating an influx of buying momentum that could push the altcoin higher.

At the same time, the coin’s 30-day moving average (yellow) has been well below its 200-day average (blue) for far too long, meaning that a reversal towards a more positive position is long overdue.

That further gains could be coming is also suggested by LUNC’s support level (green), which has been rising over the past week, with the coin not falling far at all whenever its gains have stalled.

This is a positive development, although the question of whether LUNC can make truly substantial returns all hinges on whether the Terra Luna Classic community can reach agreement on a plan for boosting the coin’s price, as well as that of its related stablecoin, USTC.

Recent weeks have witnessed some progress in this respect, with validators accepting a proposal to establish a test environment for trailling new updates, so as those related to re-pegging USTC and/or burning LUNC.

Unfortunately, not much has been achieved beyond such measures, with little concrete progress in terms of actually putting something into practice.

Real progress has been hampered to a large extent by disagreement within the LUNC community on how to boost the coin’s fortunes, with a number of recent proposals being rejected by validators.

While rejected proposals may have deserved to fail, the fact that numerous proposals are being put forward and then rejected highlights the unfortunate division at the heart of the Terra Luna Classic community.

For this reason, it may be some time before LUNC enjoys a really substantial gain, even if it could potentially rise to $0.0001 in the next few weeks, and possibly $0.0002 or $0.0003 by the end of the year.

Terra Luna Classic Price Prediction 2024, 2025 and 2030

A flexible asset, LUNA addresses issues with availability, scalability, and performance. All of the aforementioned will make it more noticeable to market participants, and if the bulls seize control, its price could soar to new heights. Price estimates for Terra LUNA 2.0 for 2024 suggest a range of $0.50 to $1.67.

Terra Luna Classic Price Prediction June 2024

The price of Terra LUNA has recovered after showing poor price action for more than a month, and it has recorded a surge of about 18% in the last day. Additionally, there has been a 25.25 percent growth in the Terra token’s value this month, suggesting that there is more demand for the altcoin on the market.

A bullish convergence in the 1D time frame of the Simple Moving Average (SMA) indicates that the price will keep gaining value in the coming period.

The MACD technical indicator is showing a bullish curve with averages that are constantly rising in the green histogram. The future of the altcoin seems bright as a result of this.

The LUNA token is poised to test its upper resistance level of $0.90 if the bulls keep gaining momentum and break out of their critical barrier level. If, on the other hand, the trend becomes negative, the LUNA classic price will fall in the following weeks to test the critical support level of $0.56.

Terra Luna Classic Price Prediction 2024

A key concept in the network of the rapidly expanding Terra ecosystem is LUNA. Due to the large demand for Terra LUNA coins, the price of LUNA has the potential to continue rising to an all-time high. Given the importance of maintaining stable Terra token values.

Following a complete overhaul of the global payment system. It is possible that LUNA price will go on a path that will make a lasting impression in this cryptocurrency market. A price spike to Terra LUNA’s theoretical high of $1.67 is possible in this optimistic scenario.

Alternatively, the price could drop to $0.50 if the company’s attitude weakens, negative reviews follow, and volumes decline. However, if selling pressures were equal to purchasing pressures, the cryptocurrency price may settle around $1.185.

Terra Luna Classic Price Prediction 2025

Given that the network is able to win back the confidence of the cryptocurrency community through improvements and outreach programs. The price of one Terra currency has the potential to reach $3.38.

However, if it is unable to regain its former significance, its price could go as low as $1.12. After taking into consideration the highest and lowest points, the average price of Luna 2.0 can end up at $2.05.

Luna Classic Price Prediction 2030

In 2030, the price of Terra 2.0 might drop as low as $7.04, rise as high as $10.38, and average out to $8.71.

Is Terra LUNA a Good Investment?

Terra 2.0 is definitely a groundbreaking experiment in the world of blockchain and cryptocurrency, building on the preceding conversation about LUNA’s investment potential and its basic analysis. Crisis management and the robustness of decentralized systems can be gleaned from its trajectory. Investors must exercise caution in this atmosphere, though, and it is critical that they comprehend the dangers of this uncertain setting.

Success in rebranding and post-fork community support will determine Terra’s (LUNA) fate. There was hope for a turnaround at first, but the new LUNA coin’s tremendous volatility makes its investment potential even more uncertain. The speculative character of the investment is brought to light by this volatility, which makes long-term predictions problematic. High rewards are possible, but so are substantial hazards. Consider your risk tolerance and investing objectives while weighing these factors against Terra (LUNA).

Terra Luna Classic Price Prediction Conclusion: Will Luna Classic Reach $1? 

Considering the tireless efforts on part of the Luna Classic community to reduce the token’s supply and maintain its value in their minds, LUNC seems to have bright future prospects.

Terra Luna Classic has been making positive development to attract more users and provide its network with more utility, which is what will ultimately support its growth in the longer term.

However, it is important to keep in mind the risks associated with investing in a project that has been subjected to a major mishap. Should the coin fall prey to pump and dump schemes, the price could plummet in the coming sessions.

Some think that LUNC could get some value through reasonable management and token burns, but it is improbable that it will ever reach $1 again.

The voluminous circulating supply is the biggest hindrance to Terra Luna Classic rising to $1. Investors are advised to keep a close eye on the number of tokens burned alongside the % of LUNC staked. A growing trend in these fronts may further confirm the current bullish sentiments.

Investors should watch out for how the Terra ecosystem reacts to these developments and whether it can adapt to the emerging trends. These changes will determine whether LUNC can regain the trust of the investors and if Luna Classic can reach $1 again.

Typically, everything is possible in the crypto world and basically, investors shouldn’t rule out the chance that the original Terra blockchain may make a comeback and reconstruct a viable ecosystem. But, truth be told, that seems doubtful at this stage.

In closing, please know the forecast figures here are generated using our price prediction tool and in that matter, not a guarantee, that the actual price action will follow what we mentioned. Forecasts are not immune to changing circumstances and will be updated with new developments. Always do your own research and evaluate all necessary factors before making any investment.

BTCC will keep you updated with the latest Luna Classic news and LUNC price predictions.

Luna Classic Price Prediction FAQs

With the ongoing tokens burning activities, LUNC community is absolutely focused on reducing its supply and boosting its price. We should watch out for how the Terra ecosystem will react to the future developments. These changes will determine whether LUNC can regain the trust of the investors and if Luna Classic will rise again.

What will Luna Classic be worth in 2023?

Based on our Terra Luna Classic price prediction 2023, Luna Classic is expected to reach a maximum price of $0.000135 by the end of 2023, and the minimum price should be $0.000101.

Will Luna Classic reach $1 in 2025?

Most of the Terra Luna Classic price predictions suggest that a meteoric rise to $1 is impossible for Luna Classic in 2025. While the Luna Classic price may experience some upward movement, reaching such a significant milestone is unlikely based on the available data and market conditions.

What will Luna Classic be worth in 2025?

Based on our Luna Classic price prediction 2025, if the uptrend continues until the year, LUNC could reach a maximum price of $0.000304. If the project falls prey to the bears, LUNC price may land at a minimum of $0.000261 in 2025.

What will Terra Luna Classic be worth in 2030?

As per our Terra Luna Classic price prediction 2030, LUNC coin could potentially reach a maximum price value of $0.000739 and the minimum price could be $0.000692, averaging out at $0.000703.

Will Luna Classic reach $1 cent?

No. Our prediction model sees no possibility for Luna Classic to reach $1 cent in the future.

How to stake LUNC?

You can check our complete guide here to start staking LUNC now.

Where can I buy Luna Classic (LUNC)?

Notable options for purchasing Luna Classic include Binance, BTCC and KuCoin. Among these, BTCC is one of the best exchanges as it witnesses a large trading volume of LUNC. Compared to Binance, BTCC has no regulatory concerns and is available in U.S., Canada and many other countries in Europe. Furthermore, BTCC exchange is highly recommended due to its favourable attributes such as extremely low fees, user-friendly interface, excellent customer support, and robust security measures with no reported hacks or security breaches to date.

Buying LUNC on BTCC is simple. Check here to create an account on BTCC and choose to purchase LUNC with USDT and a leverage up to 50x. The transaction is safe, cheap, and fast with VERY easy steps.

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