It's put their token value at 20$ now ? ._1aTW4bdYQHgSZJe7BF2-XV{display:-ms-grid;display:grid;-ms-grid-columns:auto auto 42px;grid-template-columns:auto auto 42px;column-gap:12px}._3b9utyKN3e_kzVZ5ngPqAu,._21RLQh5PvUhC6vOKoFeHUP{font-size:16px;font-weight:500;line-height:20px}._21RLQh5PvUhC6vOKoFeHUP:before{content:"";margin-right:4px;color:#46d160}._22W-auD0n8kTKDVe0vWuyK,._244EzVTQLL3kMNnB03VmxK{display:inline-block;word-break:break-word}._22W-auD0n8kTKDVe0vWuyK{font-weight:500}._22W-auD0n8kTKDVe0vWuyK,._244EzVTQLL3kMNnB03VmxK{font-size:12px;line-height:16px}._244EzVTQLL3kMNnB03VmxK{font-weight:400;color:var(--newCommunityTheme-metaText)}._2xkErp6B3LSS13jtzdNJzO{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex;margin-top:13px;margin-bottom:2px}._2xkErp6B3LSS13jtzdNJzO ._22W-auD0n8kTKDVe0vWuyK{font-size:12px;font-weight:400;line-height:16px;margin-right:4px;margin-left:4px;color:var(--newCommunityTheme-actionIcon)}._2xkErp6B3LSS13jtzdNJzO .je4sRPuSI6UPjZt_xGz8y{border-radius:4px;box-sizing:border-box;height:21px;width:21px}._2xkErp6B3LSS13jtzdNJzO .je4sRPuSI6UPjZt_xGz8y:nth-child(2),._2xkErp6B3LSS13jtzdNJzO .je4sRPuSI6UPjZt_xGz8y:nth-child(3){margin-left:-9px} Thats a nice round number, ._3K2ydhts9_ES4s9UpcXqBi{display:block;padding:0 16px;width:100%} Blockchain-powered Gaming Company, Affyn Adds New Virtual Lands To The NEXUS World Metaverse, Bitcoin Soars Over $25K and MEXC (MX) Hits Intra-Year High. And Luna is used to absorb stablecoin price volatility. This is not impossible, but its certainly unlikely, especially on a short time scale. Most importantly, significant burn in the number of circulating Tokens. Both the tokens have complementary strengths that could benefit everybody. Although this is not realistic, when combined with (1), it makes it easier to reach 1 dollar There is enormous potential for the Token to have real-life use cases. Further, LUNC's lack of utility makes it more open to volatility and attractive to speculative traders - pumps are open to being followed by dumps as investors take profits rather than hold as there is little long-term value in the project. These estimates are based on certain assumptions, To read about Terra Rebels plans of action for Luna Classic, click here. If you're a crypto enthusiast, you may have heard the term "ZK Rollup" and be curious about its functions. 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. Meanwhile, the LUNA crypto forecast from PricePrediction.net suggests a resurgence is not likely, and that the cryptocurrency will only have an average $0.0004 price point in 2025. The algorithmic mechanism meant to keep UST at $1 went into overdrive. 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. Final Word: Will Luna Classic Reach The $1 Mark? 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. ._1sDtEhccxFpHDn2RUhxmSq{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;display:-ms-flexbox;display:flex;-ms-flex-flow:row nowrap;flex-flow:row nowrap}._1d4NeAxWOiy0JPz7aXRI64{color:var(--newCommunityTheme-metaText)}.icon._3tMM22A0evCEmrIk-8z4zO{margin:-2px 8px 0 0} After the ecosystems collapse, the Terra project essentially split in half. The chain upgrade will commence a few hours after the Launch snapshot. They couldnt save UST, recovering luna is now a problem. $LUNC v1.0.5 goes live. Do Kwon, CEO of Terraform Labs, has written a proposal to fork LUNA to a new chain with a cap of 1 billion coins.. The current LUNC burn rate is 450,819,101, which is a decrease from the previous rate. Staking has been live for a number of weeks with millions of coins taken off exchanges by the community. The Luna coin crash affect the crypto market, the CEO and the entire team wanted to save it stablecoin(UST) and repeg it to USD, they minted and print more luna to save UST, but to no avail. LUNA is trending low at $0.00018. Seeing a proposal to refund the bottom 99.6% at 10 million dollars. The legacy chain is still going on under the name Terra Classic, and the name of its token has been changed to LUNC. Can Luna Classic reach 1 dollar. ._3Z6MIaeww5ZxzFqWHAEUxa{margin-top:8px}._3Z6MIaeww5ZxzFqWHAEUxa ._3EpRuHW1VpLFcj-lugsvP_{color:inherit}._3Z6MIaeww5ZxzFqWHAEUxa svg._31U86fGhtxsxdGmOUf3KOM{color:inherit;fill:inherit;padding-right:8px}._3Z6MIaeww5ZxzFqWHAEUxa ._2mk9m3mkUAeEGtGQLNCVsJ{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;color:inherit} If there is like trillions of Luna coins who own them ? The older crypto is now called Luna Classic $LUNC. Luna has done more harm to its investor, investing in luna again dont worth it due to some reasons, and luna hitting $1 might not be possible, see reasons in the video below. ._3-SW6hQX6gXK9G4FM74obr{display:inline-block;vertical-align:text-bottom;width:16px;height:16px;font-size:16px;line-height:16px} Now that the dust has gradually settled, the assets future price remains uncertain. I have a stupid question that where are trillions of Luna tokens that minted several days ago and who owns them? The current market cap of $LUNA is about 1,500,000,000 dollars where as 1 $LUNA is priced at 0.0002 dollars. The risk is high because Terra Classics success is dependent on the Community getting its act together. 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. He claims that Terra Luna Classic (LUNC) will never be worth $1. Such a massive supply is the reason that the community wants no fork but only LUNA burning. 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. That is not to recommend not buying Luna 2.0 but there appear to be reasons to hold on to Luna Classic at the moment. 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. From one perspective, LUNC has already recovered. It is not LUNA, but rather a separate ERC-20 token that's designed to track LUNA's value. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing. To regain its position, it needs to give tough competition to these cryptos this year. Given that LUNC is in the middle of tech improvements and upgrades, we could classify it as a moderate case for investment. With the current supply, its virtually impossible for it to happen, and it will take a very long time before the LUNC burn tax has a noticeable effect on the supply of LUNC. 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). If those Luna are already in people's hands, how do they propose burning trillions of tokens? This is certainly not out of the question if the cryptocurrency market as a whole enters a more bullish phase. Tokenizing the Titanic: New Partnership Brings Real Artifacts from Wreckage to NFT Market. The old chain will be called Terra Classic (token: $LUNC), and the new chain will be called Terra (token: $LUNA). Price Prediction - Can LUNC Reach $1 by 2023? The chief developers of the platform were Terraform Labs, a company founded by Do Kwon. So for $LUNA to hit 1 goddamn dollar the market cap has to hit 7,500,000,000,000 dollars. Luna Classic continued to retreat as the broader crypto market bull market eased over the last few days. In 2024, the price of one Terra is destined to drop to a minimum of $205.62. window.coinzilla_display=window.coinzilla_display||[];var c_display_preferences={};c_display_preferences.zone="325fe079eb73cc7840";c_display_preferences.width="300";c_display_preferences.height="250";coinzilla_display.push(c_display_preferences). At its peak, LUNA had a market cap of $41 billion and UST had a market cap of just under $18.7 billion. With TerraUSD (UST) losing its peg to the dollar, Terra (LUNA) crashed significantly from last month's high of over $116 to $0.0000009. LUNA to USD The involvement of the community has gone far beyond burning (like Shiba for example). 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. The system worked well for a while, and the Terra platform started seeing explosive growth in 2021, primarily thanks to Anchor, a DeFi protocol that offered high yields on Terra stablecoin deposits. UST briefly lost its peg following the Wormhole hack, leading to a temporary price crash for LUNA. Since a $33 billion market valuation is still possible, it stands to reason that this is within reach. And people are supposed to vote for it. This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. There is no evidence at the moment that Luna Classic will be worthless. 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. That's why the massive burn is pure hopium. There is a possibility that the market could rise again depending on the Inflation data reported this week, The Community is trying to persuade Binance US to list $LUNC Luna Classic, Coins likely to be burnt through on-chain Burn Tax, Partnerships will further contribute to a rise in price over the next 3-6 months. Save my name, email, and website in this browser for the next time I comment. There isnt much to differentiate itself from other cryptocurrencies either. 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%. Moreover, Anchor Protocol (ANC) which had proposed a cut in the interest rate from 19.5% to 4% also received significant backlash. At that point why even try to revive it ? Despite its extreme volatility, LUNC remains 7% up in the past seven days at the time of writing and more than 30,000% up from its May low following the de-pegging and collapse of the original Terra Luna coin and UST stablecoin. 3/ It will effectively create a new Terra chain without the algorithmic stablecoin. supply is so close to 7 trillion. MEXC Review 2023: Fees, Security & More Features. LUNAs price might potentially rise to $0.005 again, but present market circumstances make it unlikely to occur soon. The price or worth of cryptocurrencies including LUNC depends on various macro and micro economic factors such as Use cases, inflation, and liquidity. By the end of May, UST was trading at less than $0.03 and a single LUNA token was practically worthless. .ehsOqYO6dxn_Pf9Dzwu37{margin-top:0;overflow:visible}._2pFdCpgBihIaYh9DSMWBIu{height:24px}._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu{border-radius:2px}._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu:focus,._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu:hover{background-color:var(--newRedditTheme-navIconFaded10);outline:none}._38GxRFSqSC-Z2VLi5Xzkjy{color:var(--newCommunityTheme-actionIcon)}._2DO72U0b_6CUw3msKGrnnT{border-top:none;color:var(--newCommunityTheme-metaText);cursor:pointer;padding:8px 16px 8px 8px;text-transform:none}._2DO72U0b_6CUw3msKGrnnT:hover{background-color:#0079d3;border:none;color:var(--newCommunityTheme-body);fill:var(--newCommunityTheme-body)} Luna management- There is new leadership under former developers that could turn this around. This tax was previously set at 1.2%, but it discouraged on-chain activity too much as the on-chain transaction volume dropped by over 90%. Press question mark to learn the rest of the keyboard shortcuts. Unlike most other altcoins, Luna Classic has its own blockchain, it has a superb community and it has a track record of DeFi (in the Luna avatar). Luna Classic $0.00016380-1.41%. 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. The coin's value tumbled from around $6.75 to less than one cent. So, its hard to argue that LUNC is undervalued at the moment. LUNA backs UST and is burned when demand for UST rises. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()). Will Luna Reach 1 Dollar Again? ._2ik4YxCeEmPotQkDrf9tT5{width:100%}._1DR1r7cWVoK2RVj_pKKyPF,._2ik4YxCeEmPotQkDrf9tT5{display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center}._1DR1r7cWVoK2RVj_pKKyPF{-ms-flex-pack:center;justify-content:center;max-width:100%}._1CVe5UNoFFPNZQdcj1E7qb{-ms-flex-negative:0;flex-shrink:0;margin-right:4px}._2UOVKq8AASb4UjcU1wrCil{height:28px;width:28px;margin-top:6px}.FB0XngPKpgt3Ui354TbYQ{display:-ms-flexbox;display:flex;-ms-flex-align:start;align-items:flex-start;-ms-flex-direction:column;flex-direction:column;margin-left:8px;min-width:0}._3tIyrJzJQoNhuwDSYG5PGy{display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center;width:100%}.TIveY2GD5UQpMI7hBO69I{font-size:12px;font-weight:500;line-height:16px;color:var(--newRedditTheme-titleText);white-space:nowrap;overflow:hidden;text-overflow:ellipsis}.e9ybGKB-qvCqbOOAHfFpF{display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center;width:100%;max-width:100%;margin-top:2px}.y3jF8D--GYQUXbjpSOL5.y3jF8D--GYQUXbjpSOL5{font-weight:400;box-sizing:border-box}._28u73JpPTG4y_Vu5Qute7n{margin-left:4px} We expect Substantial improvement in both coin dynamics and macroeconomics in 2025. The liquidity injection by the Peoples Bank of China caused the price increase of Chinese crypto projects. . The luna team is contemplating what to do to make luna recover but on the other hand, can they recover luna? There are multiple reasons why Luan 2.0 is gaining on Luna Classic. The platform revolved around algorithmic stablecoins pegged to various fiat currencies. 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. If you are interested in investing in LUNC but dont know where to start, give our how to invest in crypto guide a read. That future is hazy at the moment but efforts on to clear the haziness. Your Australian news source for all things cryptocurrency. Undervalued will luna reach 1 dollar the moment under $ 120 Artifacts from Wreckage to NFT market is certainly not out of platform. 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