Terra Luna Classic Price Prediction 2030: Will LUNC Reach $5 by 2030?

2022/11/17By: C, Fiona

 

The $0.00019 level, which is supported by a triple bottom pattern, is where the price of Terra Luna Classic is forecast to stay rather positive. Following the demise of the original LUNA cryptocurrency, Terra Luna Classic rebranded and has since struggled in the market.

 

The LUNC price drop this week can be attributed to the FTX scandal, which has had a negative impact on the entire cryptocurrency market. LUNC, like every other token, has seen its value plummet by 15% recently.

 

Nearly 40 dApps already exist for Luna Classic (LUNC), and that number is growing. The asset is expected to shortly overtake Dogecoin and Shiba Inu after the leading exchange by volume declared a higher frequency of LUNC burn.

 

Despite the recent decline, the price of LUNC may have investors worried about its future. The Terra 2.0 network uses a consensus process known as proof-of-stake (PoS) to verify transactions.

 

Similarly, Ethereum, the most popular cryptocurrency, has switched from a proof-of-work to a proof-of-stake consensus method. This has increased the already fierce competition between PoS blockchains.

 

Currently, there are 130 validators active in the network. It’s widely regarded as a token that’s kind to the environment when used on a PoS platform.

 

Price and Volume of LUNC

 

Price of LUNC has been fluctuating between $0.2 and $1.3 since its 2019 debut and is expected to remain in this range until April 2021. Midway through 2021, the cryptocurrency industry had a boom, and the price of bitcoin began to rise. And by the end of the year, it had come close to $100.

 

Beginning in 2022, the price ranged from $50 to $100 before peaking at $119.18 on April 5, 2022. The Terra system crashed in the middle of May, sending its price plummeting. At press time, it was trading at $0.00018121.

 

 

 

It was reported by Bloomberg in May of 2022 that the market had dropped by about $45 billion in the week following the Terra crash. Terraform Labs and its co-founder Do Kwon were penalized $78.4 million in company and income tax by the Korean National Tax Service.

 

According to Bloomberg, the network released a new version of the LUNA cryptocurrency on May 25th, 2022. The original crypto, currently known as Luna Classic (LUNC), has been renamed Luna 2.0. (LUNA).

 

Despite the fact that the original cryptocurrency, LUNC, has not been completely phased out, many investors are switching to LUNA. It is important to highlight that LUNC has had very poor performance thus far.

 

The price of LUNC on the market is an indication of how investors feel about cryptocurrencies generally. It didn’t even go close to $500 million in 2019 and 2020, but it started rising again in 2021. Right around the start of February, it hit the $1 billion barrier. More than $36 billion by the end of 2022.

 

In April of 2022, LUNC surpassed $41 billion, continuing its rising trend from the previous year. But after the decline in May of 2022, it has varied between $300 million and $1.5 billion ever since.

 

Now, South Korea wants Kwon’s passport revoked, which could force him to return home. According to Bloomberg, a request to have the travel passport revoked has been sent to the country’s Foreign Ministry. He and the other members have already had arrest warrants issued for them.

 

Prosecutors in South Korea have apparently requested a Red Notice be issued against Kwon from Interpol, as reported by the Financial Times. However, in a series of tweets, Kwon assured his followers that he was not hiding from the law and that the company had nothing to hide.

 

The entire cryptocurrency market has been hit hard by the crypto crisis that ensued after the demise of Terra USD and Luna Classic, two identical twin coins. Under these conditions, LUNC is especially at risk.

 

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Terra Luna Classic Price Prediction 2025

It’s important to note up front that forecasts from various cryptocurrency platforms and analysts might vary substantially because each uses a unique set of measures to draw their conclusions.

These forecasts often end up being spectacularly inaccurate. No one could have anticipated the crypto ban in China or the situation between Russia and Ukraine. Now, let us examine the predictions of many experts for LUNC in the year 2025.

According to Telegaon’s projections, the low end of LUNC’s pricing range in 2025 will be $0.0089 and the high end will be $0.028.

Based on an examination of LUNC’s historical performance, several analysts have pegged its average price for the year ahead at $0.015.

However, Coinpedia is pessimistic about the long-term viability of Luna Classic. It forecasts that the price of one LUNC token will range from $0.002846 in 2020 to $0.001094 in 2025. To put it another way, during that year it will cost an average of $0.001776.

Terra Luna Classic Price Prediction 2030

 

Even in 2030, Telegaon is still confident in LUNC’s prospects. In 2030, the report estimated that the price of LUNC would range from $5.23 to $1.93, with an average of $3.11.

Bitcoin Wisdom, on the other hand, forecast that LUNC’s price will remain fluctuating between $0.002603 and $0.002834 in 2030. According to the forecast, its average price that year will be $0.002719.

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Conclusion

 

We hope that this brief overview of LUNA Classic has been helpful (LUNC). Reiterating our earlier statement that bitcoin price estimates should not be taken at face value is important because many people are considering buying cryptocurrency before it has been launched. And before putting money into LUNC, you should do your own due diligence.

 

Token burning is the only option left to save the coin, as it will increase prices by lowering the surplus of coins in circulation. In September, when Binance and other major CEXs began burning LUNC tokens, the price of LUNC rocketed by 60% in just a few hours.

 

Bearish sentiment persists in the bitcoin market, and volatility is expected to persist for the foreseeable future.

 

According to a Bloomberg article, pending legislation will outlaw algorithmic stablecoins like TerraUSD, the collapse of which caused a global crypto crisis. The aforementioned legislation is now in the process of being developed in the United States House. In its current form, the bill would outlaw the creation or distribution of any “endogenously collateralized stablecoins.”

 

Vitalik Buterin, co-founder of Ethereum, was recently interviewed by the New York Times, where he made claims that the Terra Luna team had tried market manipulation in order to increase the value of the local cryptocurrency. He recalled that many intelligent people had said Terra was inherently flawed.

 

Likewise, we need to keep a watch on how the Terrans respond to technological and economic shifts. As a result, it will show whether or not these changes have restored confidence among investors.

 

Kwon stated that he moved from South Korea to Singapore prior to the destruction of the Terra environment in an interview with Laura Shin on the “Unchained” podcast on October 28. He also denied rumors that he is hiding from the police.

 

Kwon claimed, “I take full responsibility for whatever problems existed in Terra’s design, whatever weaknesses it had in responding to the brutality of the markets.”

 

On 5 November, Terra Rebels announced on Twitter that the first round of its lottery game had concluded, with the winner receiving almost 24 million Terra Luna Classic (LUNC). Over 11,000,000 LUNC were transferred to the burn wallet. It is clear that some sort of attempt is being made in this direction.

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