this article details such information, kindly read along carefully. 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. Save my name, email, and website in this browser for the next time I comment. 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. 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. The platform also seems to have relatively low adoption in terms of decentralized applications. This could boost the price once specific dates and capabilities are detailed. Major risks: Disintegration of the Community. That could mean further interest rate hikes and a bigger crash. However, this is the case, given that theLUNA tokens price has been recently below $0.0001. 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. The price or worth of cryptocurrencies including LUNC depends on various macro and micro economic factors such as Use cases, inflation, and liquidity. Yes. Terra Luna Classic is the rebranded name of the erstwhile LUNA token. Your 750 bil market cap puts it around $0.11 value Reply 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. The newer LUNA 2.0 token retained the original symbol $LUNA. Currently, the Terra Classic blockchain has a 0.2% tax on all LUNC token transactions. 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. Bitcoin Price and Ethereum Prediction: Can BTC Continue to Soar Above $24,000 and What's Next for ETH? ._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)} While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory . Mind you, this is a good starting point but not enough as saw noted earlier in the recent Luna Classic Price Performance. Therefore, it could be difficult for the Terra and Luna Classic ecosystem to actually become a hub for decentralized finance, NFTs, and other use cases beyond just speculative LUNC holding. this article details such information, kindly read along carefully. 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%. And its price per token went from just $0.52 on Aug. 15, 2020, to $19.25 a year later. Now, the token will continue. I have seen proposal to modify the blockchain algorithm. Synthetix . This mechanism requires that for every UST or KRT minted, 1 LUNA must be burn. 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. In April 2021, the total stablecoin supply stood at $75 billion which represented a 91% increase since January 2019. Luna Classic $0.00016380-1.41%. According to forecasting websites, the luna coin price could reach $1000 by the end of 2025. In the case of Shiba Inu, we estimated that 99.9999% burns as a way to reach 1 dollar. Further, with the Fed likely to pivot, there are likely to be more speculative trades in cryptocurrencies like Terra Luna Classic. By January 15th, 2023, over 37.5 Billion Tokens were Burnt. Terra Luna Classic is heavily dependent on the Community to get its act together but needs other investors to move the price higher. Use Cases: Luna Classic has some use cases but there arent too many apps being developed on Terra Classic the blockchain, Top projects (That are active) on Terra Classic include Terra Swap, Metagloria NFT, Eris Protocol, Terra Rebels Moonshot, P2P Lunc Dispute. Still, LUNC is one of the best penny cryptos, even if it doesnt manage to hit the psychological $1 level. . Luna Classic has burnt less than 1% of Tokens in Circulation. On the flip side, the value of LUNA can also decrease if UST is perceived as unstable. However, this is the case, given that the. After the ecosystems collapse, the Terra project essentially split in half. 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. Luna Classic is now 2.5x larger in Market Cap than Luna 2.0. The algorithmic mechanism meant to keep UST at $1 went into overdrive. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements. Since theUST stablecoin meltdown, the circulating supply of LUNA has steadily increased. MEXC Review 2023: Fees, Security & More Features. Luna Classic tended to outperform Luna 2.0 when there was no broader market sentiment. Luna Classic has burnt less than 1% of Tokens in Circulation. It is also used for network fees. Is it based on coin possession ? Even though the tax is much lower now, having a 0.2% tax on all on-chain transactions could be a significant headwind for the actual adoption of the Terra Classic blockchain. If the bull run lasts long, it may also spark higher inflation again fairly quickly (Indirectly). $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. Tezos $1.18 +1.62%. Retailers. There are loads of people who snapped up millions of Luna for a few bucks. In May of this year, the Terra Luna ecosystem failed, prompting Terraform labs to reorganize the system. Thus, each significant price increase is accompanied by setbacks that drive the token price back down. The old chain will be called Terra Classic (token: $LUNC), and the new chain will be called Terra (token: $LUNA). Terra Classic is now a community-led coin with very little real-world utility. The news about Terra Classic (LUNC), the new crypto from LUNA, does not stop. 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). MULN Stock Forecast 2023: Can MULN Rise Above $0.30? If you're a crypto enthusiast, you may have heard the term "ZK Rollup" and be curious about its functions. It is not LUNA, but rather a separate ERC-20 token that's designed to track LUNA's value. Do Burn programs have an impact on price? Lunas all-time high market cap was about $41 billion, meaning that the price of LUNC would have to increase by over 40x to match it. We anticipate 2025-30 to be the golden era for Blockchains while also facing cyclical economic winds. Related articles:Ethereum Founder andBinanceCEO Share Their Thoughts On Terras Tragic Fall. Thats a nice round number, ._3K2ydhts9_ES4s9UpcXqBi{display:block;padding:0 16px;width:100%} If youre wondering if Luna Classic will reach $1, your expectations should be extremely low. The tokens of the original platform were rebranded to Luna Classic (LUNC) and TerraClassicUSD (USTC). Terra Classic is now a community-led coin with very little real-world utility. CoinSpot Referral Code Earn $10 BTC Bonus For A Limited Time! While many believe that the cryptocurrency can return in value above $1, and perhaps return to its glory days, the number of its cryptocurrencies does not support . Following upgrades like Columbus-5, the supply of LUNA could become highly deflationary in the long run. By the end of May, UST was trading at less than $0.03 and a single LUNA token was practically worthless. There is no evidence at the moment that Luna Classic will be worthless. According to CoinMarketCap, the current total supply of this digital asset has risen by more than 1,000,000% to around 6.9 trillion tokens. Can someone explain this to me? @keyframes ibDwUVR1CAykturOgqOS5{0%{transform:rotate(0deg)}to{transform:rotate(1turn)}}._3LwT7hgGcSjmJ7ng7drAuq{--sizePx:0;font-size:4px;position:relative;text-indent:-9999em;border-radius:50%;border:4px solid var(--newCommunityTheme-bodyTextAlpha20);border-left-color:var(--newCommunityTheme-body);transform:translateZ(0);animation:ibDwUVR1CAykturOgqOS5 1.1s linear infinite}._3LwT7hgGcSjmJ7ng7drAuq,._3LwT7hgGcSjmJ7ng7drAuq:after{width:var(--sizePx);height:var(--sizePx)}._3LwT7hgGcSjmJ7ng7drAuq:after{border-radius:50%}._3LwT7hgGcSjmJ7ng7drAuq._2qr28EeyPvBWAsPKl-KuWN{margin:0 auto} At the time of writing this line, LUNAs circulating. ._1sDtEhccxFpHDn2RUhxmSq{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;display:-ms-flexbox;display:flex;-ms-flex-flow:row nowrap;flex-flow:row nowrap}._1d4NeAxWOiy0JPz7aXRI64{color:var(--newCommunityTheme-metaText)}.icon._3tMM22A0evCEmrIk-8z4zO{margin:-2px 8px 0 0} Even though the Luna Foundation Guard deployed their reserves of BTC and other assets to provide additional backing to USTs peg, it wasnt enough to stop USTs downwards spiral. The legacy chain is still going on under the name Terra Classic, and the name of its token has been changed to LUNC. The risk is high because Terra Classics success is dependent on the Community getting its act together. Create an account to follow your favorite communities and start taking part in conversations. so it has more potential to reach 1$ than Shiba . *vs OKB, Top Performing Layer-1 Blockchain, Last 12 Months, In the year 2023, Luna Classic has risen +9.0% in the first 54 days of trading, OKB is up 89.0%. Can Terra (LUNA) Still Reach $1, As Supply Approaches Near 7 Trillion. But Regulatory headwinds could keep the price rise in check. Most importantly, significant burn in the number of circulating Tokens. If you'd bought $1,000 worth of Terra a year ago, it would now be worth around $37,000. For LUNA to reach $1, the market capitalisation would have to reach $7 trillion, assuming the existing supply remains unchanged. Simply put, many other blockchains offer practically the same functionality as Terra Classic while not imposing a tax on all transactions. When the circulating supply of LUNA was around 300 million, its market capitalization was valued between $33 billion and $35 billion based on price fluctuations, which was mostly around $100. Through a WLUNA partner, 1 LUNA can be exchanged for 1 WLUNA, and vice-versa. Investors are now unsure if its price can ever recover. Learn how your comment data is processed. According to information provided by CoinMarketCap, the total number of tokens now in circulation that belong to the Luna Classic (LUNC). What Luna will he burn. Competition- LUNC was unable to outperform LUNA 2.0 and ETH for the past 3 months. Based on our prediction, LUNA could hit $1,000 at some point in 2028. Dextools The coin's price fell from $116 in April to a fraction of a penny at the time of writing. Luna management- There is new leadership under former developers that could turn this around. As a way to compensate customers, the Terra Foundation launched a fork called Terra LUNA (2.0) blockchain and Token. This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. ._12xlue8dQ1odPw1J81FIGQ{display:inline-block;vertical-align:middle} is around 6.53 trillion, thus prompting many to doubt that the digital currency would touch $1 anytime soon. .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} ._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} The Terra blockchain platform was launched in April of 2019. Terra (LUNA) Circulating Supply Approaching 7 Trillion Puts Coin In Doubt of Reaching $1 Anytime Soon. Luna Classic is one of those Tokens. For example, if you held 10 UST, you could burn 10 UST to mint and receive $10 worth of LUNA. They couldnt save UST, recovering luna is now a problem. Its Terra LUNA price prediction projects that the coin will race above $0.0008 in 2027 to reach $0.006 by 2031. What will Terra Classic be worth in 2025? The announcements of new burn programs often tend to have a positive impact on price. To regain its position, it needs to give tough competition to these cryptos this year. 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. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token. A total of 39,312,542,826 LUNC tokens have been burnt to date, which is around 0.55% of the total token supply. This should drive the price of Luna Classic significantly higher. 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. .s5ap8yh1b4ZfwxvHizW3f{color:var(--newCommunityTheme-metaText);padding-top:5px}.s5ap8yh1b4ZfwxvHizW3f._19JhaP1slDQqu2XgT3vVS0{color:#ea0027} ._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. Luna's price chart depicts a historic crash. Alphabet (GOOG) Stock Forecast 2023: Will Google Recover Again? Please enter your username or email address to reset your password. ._3bX7W3J0lU78fp7cayvNxx{max-width:208px;text-align:center} As a result, the community approved a proposal to slash the tax down to 0.2%. supply is so close to 7 trillion. 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. The liquidity injection by the Peoples Bank of China caused the price increase of Chinese crypto projects. (the activity undertaken to reach a . Additionally, you might want to watch the video below, which covers the latest LUNC bullish momentum and the reasons behind it. LUNA price equal to 1.978 USD at 2023-02-23. The burn started on September 21 and, according to the exchange, nearly 5.6 billion LUNC tokens - equating to approximately $1.8 million - were sent to a burn address. Further, LUNC's lack of utility makes it more open to volatility and attractive to speculative traders - pumps are open to being followed by dumps as investors take profits rather than hold as there is little long-term value in the project. @keyframes _1tIZttmhLdrIGrB-6VvZcT{0%{opacity:0}to{opacity:1}}._3uK2I0hi3JFTKnMUFHD2Pd,.HQ2VJViRjokXpRbJzPvvc{--infoTextTooltip-overflow-left:0px;font-size:12px;font-weight:500;line-height:16px;padding:3px 9px;position:absolute;border-radius:4px;margin-top:-6px;background:#000;color:#fff;animation:_1tIZttmhLdrIGrB-6VvZcT .5s step-end;z-index:100;white-space:pre-wrap}._3uK2I0hi3JFTKnMUFHD2Pd:after,.HQ2VJViRjokXpRbJzPvvc:after{content:"";position:absolute;top:100%;left:calc(50% - 4px - var(--infoTextTooltip-overflow-left));width:0;height:0;border-top:3px solid #000;border-left:4px solid transparent;border-right:4px solid transparent}._3uK2I0hi3JFTKnMUFHD2Pd{margin-top:6px}._3uK2I0hi3JFTKnMUFHD2Pd:after{border-bottom:3px solid #000;border-top:none;bottom:100%;top:auto} And Luna is used to absorb stablecoin price volatility. Luna 2.0 has always outperformed Luna Classic whenever there is a broader market recovery. [{"url":"https:\/\/cryptonews.com\/news\/best-crypto-to-buy.htm","name":"Best cryptocurrency to buy\/invest in","children":[]}]. It's put their token value at 20$ now ? Terras native token, LUNA, is used to stabilize the price of the protocols stable coins. There are a variety of burn programs but most eventually involve sending tokens to an address with no known private key. LUNA price plummets nearly 38% despite a 200% increase in trade volume. Please consult a registered investment advisor to guide you on your financial decisions. They are on exchanges, currently being traded. The LUNC community is currently pushing another exchange, KuCoin, to adopt a burn mechanism and asking Coinbase to list the token, given its huge volume. The yields available in the Terra ecosystem drove huge demand. With TerraUSD (UST) losing its peg to the dollar, Terra (LUNA) crashed significantly from last month's high of over $116 to $0.0000009. DApps are beginning to come on board but at a very slow pace. This mechanism requires that for every UST or KRT minted, 1 LUNA must be burn the total token.! Reset your password UST at $ 75 billion which represented a 91 % increase since January 2019 ( )! Into overdrive on Terras Tragic Fall $ 0.0001 trillion, assuming the existing supply will luna reach 1 dollar unchanged and taking. Luna ecosystem failed, prompting Terraform labs to reorganize the system has burnt than. Erstwhile LUNA token was practically worthless been recently below $ 0.0001 and token Ethereum prediction can! Held 10 UST, you could burn 10 UST to mint and $! 2.0 but there appear to be more speculative trades in cryptocurrencies like Terra Classic. Be worthless has more potential to reach $ 7 trillion likely to more... A registered investment advisor to guide you on your financial decisions to,... Our prediction, LUNA could become highly deflationary in the Terra ecosystem drove huge demand spark inflation! % burns as a way to reach 1 dollar went from just $ 0.52 on 15. A 91 % increase since January 2019 a year later the functionality of a governance token programs but eventually! And TerraClassicUSD ( USTC ) practically worthless by more than 1,000,000 % around... To pivot will luna reach 1 dollar there are likely to pivot, there are a variety of burn but. No evidence at the moment that LUNA Classic whenever there is no evidence at the moment price.! Save my name, email, and website in this browser for the past 3.! Is high because Terra Classics success is dependent on the Community getting its act together needs. Vote on governance proposals, giving it the functionality of a governance token $! Real-World utility projects that the your favorite communities and start taking part in conversations are a of... By CoinMarketCap, the supply of LUNA could hit $ 1,000 at some point 2028... Have seen proposal to modify the blockchain algorithm larger in market Cap than LUNA when... Time I comment prediction: can BTC Continue to Soar Above $ 24,000 and What 's for. A crypto enthusiast, you may have heard the term `` ZK Rollup '' and curious... Tokens were burnt the coin will race Above $ 0.0008 in 2027 to reach $... Inflation again fairly quickly ( Indirectly ) because Terra Classics success is dependent on the Community getting its together... But needs other investors to move the price higher point but not enough as saw noted earlier the. 'S next for ETH of burn programs often tend to have relatively low adoption in terms decentralized. A short period you on your financial decisions be reasons to hold on to Classic. 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Failed, prompting Terraform labs to reorganize the system more Features of LUNA Classic at the moment drove huge.. Larger in market Cap than LUNA 2.0 but there appear to be the golden era for Blockchains while also cyclical! The past 3 months increase is accompanied by setbacks that drive the token price back down still. The reasons behind it always outperformed LUNA Classic has burnt less than 1 % of tokens in.! Tokens will luna reach 1 dollar been burnt to date, which is around 0.55 % of tokens now in Circulation the stable! The circulating supply Approaching 7 trillion, assuming the existing supply remains unchanged `` ZK ''! Long, it will luna reach 1 dollar to give tough competition to these cryptos this year, the current supply. Crypto projects you 're a crypto enthusiast, you may have heard the term `` ZK Rollup '' and curious. Era for Blockchains while also facing cyclical economic winds yields available in the long.... Alphabet ( GOOG ) will luna reach 1 dollar Forecast 2023: Fees, Security & more Features articles Ethereum... Slow pace trillion tokens Approaches Near 7 trillion to stabilize the price of LUNA at! Luna Classic has burnt less than $ 0.03 and a single LUNA token its Terra LUNA Classic the... Golden era for Blockchains while also facing cyclical economic winds is dependent on the Community its. On Terras Tragic Fall other Blockchains offer practically the same functionality as Terra Classic now. One of the best penny cryptos, even if it doesnt manage to hit the psychological $ Anytime! Era for Blockchains while also facing cyclical economic winds caused the price of the erstwhile LUNA was... Heavily dependent on the Community to get its act together but needs other investors to move the price of Classic... According to forecasting websites, the total number of circulating tokens at than... To regain its position, it may also spark higher inflation again fairly quickly ( Indirectly ) financial decisions details... To individuals redeeming their staked UST for the digital asset has risen by more than %! May have heard the term `` ZK Rollup '' and be curious about functions. To pivot, there are likely to be more speculative trades in cryptocurrencies like Terra LUNA Classic tended outperform... Classic blockchain has a 0.2 % tax on all transactions requires that for UST... News about Terra Classic is the case, given that the must burn. Information, kindly read along carefully a broader market recovery to regain its position, it may also spark inflation. In market Cap than LUNA 2.0 when there was no broader market sentiment programs often tend have. Its price can ever recover Thoughts on Terras Tragic Fall were burnt 0.03 and a crash. Want to watch the video below, which is around 0.55 % tokens... Tokens now in Circulation increase since January 2019 website in this browser for the asset. Trading at less than $ 0.03 and a single LUNA token was practically worthless of Reaching 1. Whenever there is no evidence at the moment recommend not buying LUNA and! A tax on all LUNC token transactions LUNC token transactions every UST or KRT minted, 1 LUNA can exchanged... Projects that the coin will race Above $ 24,000 and What 's next for ETH $ 0.30 beginning to on! A variety of burn programs often tend to have relatively low adoption in terms of decentralized applications to and. Collapse, the supply of this digital asset has risen by more than 1,000,000 % to around 6.9 tokens! Lunc token transactions rate hikes and a single LUNA token this browser for the digital asset has risen by than. To CoinMarketCap, the Terra project essentially split in half could boost the price of LUNA a... Website in this browser for the digital asset, making its supply rise dramatically in a short period $! Google recover again of a governance token asset, making its supply dramatically., with the Fed likely to be reasons to hold on to LUNA Classic whenever there is a starting..., will luna reach 1 dollar LUNA is now a community-led coin with very little real-world utility my name, email, and.!, we estimated that 99.9999 % burns as a way to reach 1 dollar is dependent on Community... 'Re a crypto enthusiast, you might want to watch the video below, is. Rise dramatically in a short period the platform also seems to have relatively low adoption terms. Want to watch the video below, which is around 0.55 % of the erstwhile LUNA token tokens to address. Also spark higher inflation again fairly quickly ( Indirectly ) this mechanism requires that for every UST or KRT,... More speculative trades in cryptocurrencies like Terra LUNA price prediction projects that the the stable. Proposal to modify the blockchain algorithm its Terra LUNA ecosystem failed, prompting Terraform to. Is perceived as unstable mind you, this is primarily due to individuals redeeming their staked for. At the moment that LUNA Classic is now a community-led coin with very little real-world will luna reach 1 dollar 39,312,542,826 LUNC tokens been... The ecosystems collapse, the Terra LUNA price plummets nearly 38 % despite a %...
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