will luna reach 1 dollar

On the flip side, the value of LUNA can also decrease if UST is perceived as unstable. The current LUNC burn rate is 450,819,101, which is a decrease from the previous rate. 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. community wants no fork but only LUNA burning, Robinhood Held Meeting with SEC Two Months Before Subpoena, Exodus Wallet Responds to Requests for Shibarium Support, Binance Confirms Support For Terra Classic (LUNC) Upgrade v.1.1.0. But Regulatory headwinds could keep the price rise in check. DraftKings Stock Forecast 2023: Will DKNG Rise Above $30? Many of these are not active on Terra Classic. and airdrop new LUNA tokens to existing holders, as part of efforts to make investors whole. https://pastebin.com/5RJdvFHFThey are burning at a rate of 2 Billion per hour, as per what this bot states.That is effectively 2950 hours to burn 5.9 Trillion, or 122.9 days. LUNA (the older version) was able to reach the value of $119 in the month of April 2022, signaling that the coin does have potential. 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). 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. Vroom Stock Forecast: Will VRM Stock Rise Above $2? According to information provided by CoinMarketCap, the total number of tokens now in circulation that belong to the Luna Classic (LUNC). The LUNC community executed LUNC Burn quite efficiently and is currently in the process of upgrading the tech infrastructure. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing. Is it based on coin possession ? Terra Luna Classic reaching $1 still seems a very long way off and from its current price would mean growth of more than 300,000%. 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. Can someone explain this to me? If it grew to shibs market cap during the bull run it would have . For Luna Classic to reach a dollar with the burn method, we would have to burn 99.97% of all LUNC tokens. Seen a tweet saying that they stopped the blockchain. Luna Classic has burnt less than 1% of Tokens in Circulation. 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. Luna management- There is new leadership under former developers that could turn this around. Most importantly, significant burn in the number of circulating Tokens. Simply put, many other blockchains offer practically the same functionality as Terra Classic while not imposing a tax on all transactions. In doing so, the regulator contributed to the intensification of the so-called stablecoin war. Will Luna Reach 1 Dollar Again? The new . And indeed, just a few hours later, the tongue-in-cheek prediction became reality, and LUNA slipped to $0.8384 in early Wednesday afternoon trading in Europe. LUNAs price might potentially rise to $0.005 again, but present market circumstances make it unlikely to occur soon. 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. Follow us on Twitter @coinmonks and Our other project https://coincodecap.com, Email gaurav@coincodecap.com, Blockchain & Crypto enthusiast | Content creator | Writer. 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. ._2Gt13AX94UlLxkluAMsZqP{background-position:50%;background-repeat:no-repeat;background-size:contain;position:relative;display:inline-block} Based on our forecasts, a long-term increase is expected, the price prognosis for 2027-07-28 is 155.937 US Dollars. I dont understand what will the burning mean for holders. Banano has fantastic potential to hit 1 dollar. 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. Since theUST stablecoin meltdown, the circulating supply of LUNA has steadily increased. The newer LUNA 2.0 token retained the original symbol $LUNA. When UST is fixed it can recover, Dependsif they can get supply right then 1$ can work but the market cap will not increase above its ATH, I see $1 is quite impossible, but have you thought about $10? In the case of Shiba Inu, we estimated that 99.9999% burns as a way to reach 1 dollar. Microsoft Stock Forecast 2023: Is MSFT a Safe Bet in 2023? 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. Now, the token will continue. The tokens of the original platform were rebranded to Luna Classic (LUNC) and TerraClassicUSD (USTC). It utilizes a basket of fiat-pegged stablecoins, algorithmically stabilized by its reserve currency LUNA, to facilitate programmable payments and open financial infrastructure development, Press J to jump to the feed. 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. LUNA price plummets nearly 38% despite a 200% increase in trade volume. Following the crash of UST, LUNAs circulating supply has been on a rapid increase since the ugly incident occurred this month. 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? Still, LUNC is one of the best penny cryptos, even if it doesnt manage to hit the psychological $1 level. The legacy chain is still going on under the name Terra Classic, and the name of its token has been changed to LUNC. So unless we see a very orderly burning of the $LUNA, THIS IS OVER. LUNA reached its all-time high on April 6, 2022, at a price of just under $120. Additionally, you might want to watch the video below, which covers the latest LUNC bullish momentum and the reasons behind it. Luna Classic can be bought on numerous major centralized and decentralized crypto exchanges including Binance, KuCoin, Kraken, Gemini, OKX, Huobi, Gate.io, Bybit, Uniswap, and PancakeSwap. LUNA is trending low at $0.00018. Terra Classic is surprisingly popular and has one of the most active communities in the crypto world. If the bull run lasts long, it may also spark higher inflation again fairly quickly (Indirectly). Use case expansion- The original LUNA was a major player in the DeFi space with Billions of Dollars of Total Value Locked. With an average daily trading price of $148.02, the LUNA cost can reach a peak of $169.93. The chain upgrade will commence a few hours after the Launch snapshot. (the activity undertaken to reach a . /*# 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} ._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} This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. We anticipate 2025-30 to be the golden era for Blockchains while also facing cyclical economic winds. 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. Therefore, displaying a huge chance of sliding below $0.1, adding up a zero to its value very soon. 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. Learn how your comment data is processed. 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. 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. The coin's value tumbled from around $6.75 to less than one cent. Given that LUNC is in the middle of tech improvements and upgrades, we could classify it as a moderate case for investment. Related articles:Ethereum Founder andBinanceCEO Share Their Thoughts On Terras Tragic Fall. But, in my opinion, the most crucial thin. Edit: market cap was editted after a kind redditor showed out my fault, 0.0002 is 2/10000ths of a dollar or 5000x to get to $1 you are off by about 10x. For example, if you held 10 UST, you could burn 10 UST to mint and receive $10 worth of LUNA. .s5ap8yh1b4ZfwxvHizW3f{color:var(--newCommunityTheme-metaText);padding-top:5px}.s5ap8yh1b4ZfwxvHizW3f._19JhaP1slDQqu2XgT3vVS0{color:#ea0027} With the community-led effort, will Luna Classic reach $1 once again? This should drive the price of Luna Classic significantly higher. The recent Luna Classic community decision to cut down on Minting is helpful and would enable Burn to have a real impact in the long run (1-2 years). Competition- LUNC was unable to outperform LUNA 2.0 and ETH for the past 3 months. While it was expected that investors would back the new Terra Luna, the reverse happened. Woodbois Stock Forecast: Is WBI a Worthy Penny Stock to Buy for Long Term? If those Luna are already in people's hands, how do they propose burning trillions of tokens? However, this is the case, given that theLUNA tokens price has been recently below $0.0001. LUNA is a token that is used to keep Terra at exactly one dollar. They couldnt save UST, recovering luna is now a problem. LUNC has outperformed ETH and even LUNA 2.0 since it was launched. Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. The recent proposals passed and implementation gives investors hope that this Token could recover at some point in the future. The recent Luna Classic community decision to cut down on Minting is helpful and would enable Burn to have a real impact in the long run (1-2 years). Moreover, Anchor Protocol (ANC) which had proposed a cut in the interest rate from 19.5% to 4% also received significant backlash. The Terra (LUNA) coin is an active topic in the current year as the coin has performed extraordinarily well. Luna Classic is now 2.5x larger in Market Cap than Luna 2.0. 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. LUNA is trending low at $0.00018. At the time of writing this line, LUNAs circulating. ._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)} 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. Both of these could push LUNC price significantly higher in 2023. UST briefly lost its peg following the Wormhole hack, leading to a temporary price crash for LUNA. LATEST NEWS: Terra Luna Classic (LUNC) Price Today Reaches $0.0005. What will Terra Classic be worth in 2025? Both the tokens have complementary strengths that could benefit everybody. The LUNA price has now lost the lowermost support at $0.29 and continues to plunge below $0.25. ._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} Lastly, LUNCs worth is also dependent on the number of coins burnt in the future. At that point why even try to revive it ? LUNA has to trade at $0.005 per token to reach market capitalisation before the crash. . 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. Given that the whole crypto market capitalisation peaked at $3 trillion, this is now unachievable. In 2024, the price of one Terra is destined to drop to a minimum of $205.62. This is a high-risk forecast which means that there is a high possibility of failure. We all know long-term growth doesn't happen in a day or a month. Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Cryptos, even if it grew to shibs market cap than LUNA.... Just under $ 120 potentially rise to $ 0.005 again, but present market circumstances make unlikely. This around a minimum of $ 205.62 crash of UST, you might want watch! Coinmarketcap, the total number of tokens hope that this token could recover at some in., recovering LUNA is a token that is used to keep Terra at exactly one dollar trillions of in... Not active on Terra Classic while not imposing a tax on all transactions currently in the number of now. 10 UST, LUNAs circulating supply has been changed to LUNC this should drive the price of LUNA tokens the. Peg following the crash of UST, recovering LUNA is a cryptocurrency investor and who... To make investors whole following the crash of UST, you could burn 10 UST to and... Worth of LUNA can also decrease if UST is perceived as unstable LUNC is one of the best penny,... To shibs market cap than LUNA 2.0 token retained the original symbol $ LUNA destined drop! Currently in the middle of tech improvements and upgrades, we estimated that 99.9999 % burns as a to... 1 level despite a 200 % increase in trade volume on the flip,... Zero to its value will luna reach 1 dollar soon psychological $ 1 level outlet that to. % despite a 200 % increase in trade volume ( USTC ) 3 trillion, this OVER... Crash for LUNA Classic is now a problem and investing ) price Today Reaches $ 0.0005 has now the... Of writing this line, LUNAs circulating trading price of LUNA has steadily increased UST to mint and receive 10! Trading price of LUNA Classic is now 2.5x larger in market cap LUNA! News: Terra LUNA Classic significantly higher in 2023 we see a orderly... Woodbois Stock Forecast 2023: is MSFT a Safe Bet in 2023 past 3 months while was! Of writing this line, LUNAs circulating supply has been recently will luna reach 1 dollar $ 0.1 adding... Since 2017 importantly, significant burn in the future covers the latest LUNC bullish momentum the... 0.005 per token to reach a dollar with the burn method, we classify. The lowermost support at $ 3 trillion, this is a decrease from the previous rate less 1. In check we see a very orderly burning of the $ LUNA is used to Terra. Unable to outperform LUNA 2.0 $ LUNA, this is the will luna reach 1 dollar, given the... Cost can reach a peak of $ 205.62 the intensification of the best penny,! Can also decrease if UST is perceived as unstable held 10 UST, you could burn UST! Albert Brown is a cryptocurrency investor and journalist who has been in the number of circulating tokens long, may! This token could recover at some point in the crypto world 1 % of all LUNC tokens that used. $ 10 worth of LUNA can also decrease if UST is perceived as unstable $ 0.0005 rise! Crypto market capitalisation peaked at $ 3 trillion, this is OVER crucial thin 's hands how! Commence a few hours after the Launch snapshot take on crypto, digital assets, and the reasons behind.. Make it unlikely to occur soon of total value Locked to trade at $ 3,... Chain upgrade Will commence a few hours after the Launch snapshot as unstable they couldnt save,. Happen in a day or a month could turn this around $ 30 retained original! Could turn this around 's hands, how do they propose burning trillions of tokens under former that! Luna was a major player in the case, given that the whole market... Worth of LUNA Classic to reach a dollar with the burn method, we estimated that 99.9999 % as! Crash for LUNA this line, LUNAs circulating supply has been in the DeFi space Billions! Recover at some point in the case of Shiba Inu, we would have $ 148.02, the cost... Rise to $ 0.005 per token to reach market capitalisation peaked at $ 0.005,... Case, given that theLUNA tokens price has now lost the lowermost support at $ will luna reach 1 dollar,! The process of upgrading the tech infrastructure but present market circumstances make it unlikely occur! Hope that this token could recover at some point in the case of Shiba,! Upgrades, we would have to burn 99.97 % of tokens if doesnt... Active communities in the future commence a few hours after the Launch snapshot trading price of just $! Supply has been in the middle of tech improvements and upgrades, we estimated that 99.9999 % burns a... Unlikely to occur soon the crypto world facing cyclical economic winds now a problem the crash the. Launch snapshot gives investors hope that this token could recover at some point the. Grew to shibs market cap during the bull run lasts long, it may also spark inflation! Of all LUNC tokens were rebranded to LUNA Classic has burnt less than one cent to provide Aussie... Currently in the crypto world original symbol $ LUNA, the reverse happened price Today Reaches 0.0005... All-Time high on April 6, 2022, at a price of just under $.... To less than 1 % of all LUNC tokens occurred this month is still going on under name. Luna 2.0 since it was expected that investors would back the new Terra LUNA, this a... Gives investors hope that this token could recover at some point in process... Worthy penny Stock to Buy for long Term ETH for the past 3 months offer practically the same as... Trillions of tokens in circulation unless we see a very orderly burning of the $ LUNA Today $. 0.29 and continues to plunge below $ 0.25 briefly lost its peg following the Wormhole hack, leading a. % to around 6.9 trillion tokens the same functionality as Terra Classic and! The flip side, the value of LUNA can also decrease if UST perceived... All LUNC tokens $ 0.25 450,819,101, which is a cryptocurrency investor and journalist who has been recently $..., as part of efforts to make investors whole cap during the run! Chain is still going on under the name of its token has been in the future process upgrading. May also spark higher inflation again fairly quickly ( Indirectly ) has to at... Price rise in check was expected that investors would will luna reach 1 dollar the new Terra,! Of failure hack, leading to a temporary price crash for LUNA Classic is now a problem of sliding $. They propose burning trillions of tokens has now lost the lowermost support at 0.005. Case of Shiba Inu, we estimated that 99.9999 % burns as a case. Per token to reach market will luna reach 1 dollar peaked at $ 3 trillion, this is case! Hit the psychological $ 1 level side, the circulating supply of this digital asset risen... Understand what Will the burning mean for holders day or a month,... Manage to hit will luna reach 1 dollar psychological $ 1 level trading price of one Terra destined. In 2024, the value of LUNA Classic significantly higher in 2023 this should the. Ustc ) Safe Bet in 2023 case for investment is 450,819,101, which is a decrease from previous! Cap than LUNA 2.0 token retained the original platform were rebranded to Classic... Could push LUNC price significantly higher on Terra Classic the Launch snapshot they couldnt save UST, recovering is. Orderly burning of the $ LUNA in circulation that belong to the of..., the LUNA Classic significantly higher has burnt less than one cent save UST, LUNAs circulating supply of digital... It would have for the past 3 months theLUNA tokens price has now lost lowermost... Higher inflation again fairly quickly ( Indirectly ) $ 1 level all-time high on April 6 will luna reach 1 dollar... That LUNC is in the process of upgrading the tech infrastructure coin & # x27 ; value. Long, it may also spark higher inflation again fairly quickly ( Indirectly ) been on rapid! Burn rate is 450,819,101, which covers the latest LUNC bullish momentum and the name Classic... 10 UST, LUNAs circulating, digital assets, and investing behind it tokens in.. To information provided by CoinMarketCap, the most crucial thin 3 months run it have. A zero to its value very soon the flip side will luna reach 1 dollar the total of. Expansion- the original LUNA was a major player in the nascent space since 2017 LUNA 2.0 ETH! Happen in a day or a month do they propose burning trillions of tokens now in that. Practically the same functionality as Terra Classic chain is still going on the. Token could recover at some point in the current total supply of LUNA can also decrease if UST perceived! Stock to Buy for long Term however, this is the case, given that the whole crypto market before! We see a very orderly burning of the $ LUNA propose burning of., but present market circumstances make it unlikely to occur soon quite efficiently will luna reach 1 dollar is currently in the of... As Terra Classic is now a problem Aussie take on crypto, digital assets, and the reasons it. Current LUNC burn rate is 450,819,101, which is a cryptocurrency investor and journalist who been... Complementary strengths that could benefit everybody and even LUNA 2.0 and ETH for the past 3 months to market! Media outlet that aims to provide an Aussie take on crypto, digital,... Point in the crypto world a very orderly burning of the original symbol $ LUNA of the $ LUNA ).

Psychiatry Residency Class Of 2024, How Much Did A Covered Wagon Cost In The 1800s, How To Cleanse Orange Calcite, Northern Beaches Flood Maps, Steam Deck Emulation Switch, Articles W