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

2023/01/19By: L, Laura

Terra Luna Classic Price Prediction Overview: It is predicted that the maximum price LUNC coin can reach is $0.0075 in 2024, $0.028 in 2025, and $5.23 in 2030.


 

Terra Luna Classic (LUNC) has been at the root of the crypto market’s difficulties since May 2022, when the whole Terra LUNA ecosystem suddenly collapsed. LUNC is the original Terra LUNA coin left over after the Luna crash and the launch of a new Terra chain.

 

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. As such, its 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 cryptocurrency 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) coin and dive into the future Terra Luna Classic price prediction for 2025 and 2030 that is made as of 19 January 2023.

 

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

 

Terra Luna Classic (LUNC) Overview

Cryptocurrency Terra Luna Classic
Ticker Symbol LUNC
Rank 46
Price $0.000163
Price Change 24H -6.98%
Market Cap $973,296,882
Circulating Supply 5,975,227,136,173 LUNC
Trading Volume $193,819,658
All Time High $119.18
All Time Low $0.000000999967

 

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What Happened to Terra Luna?

After the Terra crash in May 2022, its founder Do Kwon launched a Terra Revival Plan, which introduced a new version of Luna. The older crypto (original Luna) is now called Luna Classic (LUNC) and the new launched one is called Luna 2.0 (LUNA). Both versions of the Luna token can exist.

 

The term “classic” most likely refers to the hard fork of Ethereum and Ethereum Classic that occurred after Ethereum’s 2017 decentralized automated organization (DAO) breach. As Kwon stated, this seems to be another ploy to promote the UST crash as “Terra’s DAO hack moment” .

 

Terra was developed by Terraform Labs in 2018. Do Kwon and Daniel Shin founded this South Korea-based lab to infuse the best features of a fiat currency and Bitcoin (BTC) into a price-stable coin. It is an open-source blockchain protocol for hosting a dynamic ecosystem of dApps and top-tier development tools. Terra’s blockchain carves a path for the next-gen DeFi experience by harnessing a proof-of-stake consensus mechanism.

 

In addition to this, Terra is also a payments platform for an algorithmic stablecoin designed to chase the price of a fiat (government-backed) currency.

 

The native token, Terra (LUNA) was the staking and governance asset of the network. Users stake LUNA to earn a place in governance and become validators and earn rewards. Users can also burn LUNA to mint Terra’s UST token or one tied to their local fiat. However, it’s important to note that while these stablecoins are pegged to the value of fiat, they’re not backed by fiat. Instead, the Terra Luna cryptocurrency was considered an algorithmic stablecoin.Terra Luna crypto’s chief role was to serve the purpose of a ‘counterpart’ in absorbing price fluctuations of Terra’s algorithmic stablecoin, terraUSD (UST).

 

However, on May 9, the so-called stablecoin UST was unpegged, after nearly 18 months of retaining its value against the US dollar. The decoupling created a chain reaction that led to the collapse of Terra LUNA cryptocurrency, UST, and Bitcoin, as well as the more significant crypto sector that has yet to fully recover.

 

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 a scheme that reduces the bloated supply of the token.

 

With this aim, LUNC community has introduced lots of recovery measures like Terra Luna Classic Burn, new Terra Classic NFT marketplace and LUNC Penguins NFT, in hopes to push the LUNC price up.

 

Terra Luna Classic tax 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.

 

By burning the LUNC, holders hoped this will increase the scarcity of their coins, pushing the price back towards $1. It was already put to the test in September when Binance and other significant CEXs began burning LUNC tokens, sending the price of $LUNC soaring 60% in just a few hours. Binance implemented a mechanism to destroy the same amount of coins as the fees it collects from trading LUNC.

 

However, the LUNC burn mechanism data still turned out to be underwhelming. Given that there are more than 6.8 trillion tokens in circulation, the burn rate works out to a meager 0.08% 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?

 

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Terra 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 still very bearish and is likely to remain volatile for the next few months. At press time, Terra Luna Classic price was trading at $0.000163. 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.

 

LUNC Crypto Price Analysis

Terra Luna Classic has dipped slightly to collect fresh liquidity after a rally of 25.7% in the past 30 days. The LUNC price has fallen by 6.98% in the past 24 hours, dropping to $0.000163 amid a dip for the crypto market as a whole. Before the pullback to $0.000163, LUNC traded new 2023 highs of $0.0001936.

 

On-chain data from Santiment reveals that investor interest is still high despite LUNC’s 24-hour transaction volume dropping to 130.18 million from 409 million tokens on January 14. We can deduce from the chart that the price of Luna Classic will likely increase as the daily transaction volume increases.

 

Terra Classic price
Terra Luna Classic Volume

 

The uptrend in LUNC price may have taken a breather, but it isn’t over yet and may be on cusp of another breakout. Based on the technical outlook on its eight-hour time frame chart, LUNC could stretch the leg to $0.00024 in the coming days.

 

A bullish outcome is most likely to materialize above the seller congestion at $0.0001831 in close proximity to the rising triangle horizontal resistance and the 100-day Exponential Moving Average (EMA) (in blue).

 

Terra Classic price
LUNC/USD eight-hour chart

 

As the price consolidates toward the triangle’s apex, bulls start to gain an edge above the bears, prompting a breakout above the resistance. Therefore, traders would be expecting Terra Classic price to explode by another 30.27% to $0.00024 once the seller congestion at $0.000183 has been broken.

 

The Stochastic oscillator solidifies the optimistic outlook in Terra Luna Classic price as it ascends toward the overbought region in the same eight-hour time frame. A sharp move in LUNC toward $0.00024 would coincide with the Stochastic crossing above the falling trend line.

 

However, it is challenging to prove the bullish outlook on the daily time frame chart, especially with the TD Sequential indicator sending a sell signal. As seen on the chart below, the call to sell LUNC manifested in a green nine candlestick, which may compel investors to offload their bags in the short-term, with the hope of buying again at a lower level.

 

Terra Classic price

 

Nevertheless, traders must confirm the signal by checking if the high of the sixth and seventh candles in the count is exceeded by that of the eighth or ninth bar. On other hand, bulls must be ready to deal with the supply area at $0.00020, otherwise, declines may intensify toward $0.00012.

 

Despite this technical uncertainty, LUNC is in a good position to enjoy significant rallies this year. This is mostly because of the positive Luna Classic news of ongoing token burns that are taking place on-chain and on crypto exchanges like Binance. With Luna Classic burning likely to increase in the near future, LUNC looks set to have a good 2023.

 

So far, some 37.1 billion LUNC has been burned, out of a total circulating supply of 6.87 trillion. This may not seem like too much relative to the total supply, but it will continue increasing as the year progresses, especially given the amount of community effort dedicated to increasing the burn rate.

 

For instance, the Terra Luna Classic community is continually producing proposals to burn more LUNC. This includes a recent proposal to halt the re-minting of burned tokens (which had been intended to support development work). Other recent proposals include the idea of introducing the ability to enable users to voluntarily burn extra LUNC when withdrawing rewards.

 

Together, such proposals indicate the extent to which the LUNC community is absolutely focused on reducing its supply and boosting its price. Increased development would help LUNC attract more users and provide its network with more utility, which is what will ultimately support its growth in the longer term.

 

As such, it is entirely possible that LUNC may witness a significant price appreciation this year, with a 10x gain taking it to $0.0016.

 

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Terra Luna Classic Price Prediction 2025 and 2030

We’ve covered most of the important things you need to know about LUNC before considering Luna Classic prediction, as well as the detailed market analysis, history price data and LUNC technical analysis. If you are really interested in investing in the coin, this is the time to be more attentive.


 

Luna Classic Price Prediction 2025 

Now let’s have a look at what different analysts say about the future Terra Classic price prediction in 2025.

 

Telegaon predicts a minimum and maximum price for LUNC in 2025 of $0.0089 and $0.028, respectively.

 

Other experts, after analyzing LUNC’s previous performance, predict an average price of $0.015 in that year.

 

However, Coinpedia is not optimistic about the future of Luna Classic. According to its Terra Luna Classic price prediction, by 2025, LUNC is expected to trade at a high of $0.002846 and a low of $0.001094, with an average price of $0.001776 in the current year.

 

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Luna Classic Price Prediction 2030

Telegaon also continues to be optimistic about LUNC’s future in 2030. It predicts that by 2030, LUNC will trade at a high of $5.23 and a low of $1.93, while its average price will remain at $3.11.

 

On the other hand, Bitcoin Wisdom’s Luna Classic price prediction 2030 forecasts that the price of LUNC will oscillate between $0.002603 and $0.002834 in 2030. According to the forecast, the average price for that year is $0.002719.

 

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

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

 

The coin’s technical front depicted an increasing buying edge. The bulls must now aim to break the $0.00024 hurdle to claim better chances of the targets aforementioned.

 

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.

 

The voluminous circulating supply is the biggest hindrance to Terra Luna Classic rising to $1. Despite the token burn program, the protocol has more than 5.9 trillion LUNC in circulating supply, with the network’s total supply standing at 6.8 trillion.

 

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. We 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.

 

It is only fair that we conclude this section by sounding the warning that Luna Classic is a highly volatile asset. It is also important that we state that the future of LUNC coin may not follow the predictions here. Just as the coin has a high chance of gaining value in the future, there is a chance that it will drop more over time. You must always be cautious while investing.

 

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Luna Classic Price Prediction FAQs


Will Luna Classic recover? 

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.

 

Can LUNC coin reach $1 in 2023?

Although a meteoric rise to $1 could be impossible in 2023, Terra Luna Classic price has the potential to return massive gains to investors who buy it as it recovers. LUNC’s value is up 25.7% in the past 30 days, thus outperforming many cryptocurrencies in the market.

 

What will Luna Classic be worth in 2024?

Terra Classic price prediction forecasts the maximum price LUNC can reach is estimated at $0.0075 by the end of 2024.

 

How much will Luna Classic be worth in 2025?

According to Terra Luna Classic price predictions from the experts, the minimum and maximum LUNC price is expected to be $0.0011 and $0.028 by 2025, with an average price trading at $0.01455.

 

What will Terra Luna Classic be worth in 2030?

Telegaon is optimistic about LUNC’s future in 2030. Its LUNC price prediction forecasts that by 2030, LUNC is expected to trade at a high of $5.23 and a low of $1.93, while its average price is estimated at $3.11.

 

How to stake LUNC?

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

How to Stake LUNC: Everything You Need to Know

 


 

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