Follow us on Twitter @coinmonks and Our other project https://coincodecap.com, Email gaurav@coincodecap.com, Blockchain & Crypto enthusiast | Content creator | Writer. 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). The older crypto is now called Luna Classic $LUNC. According to forecasting websites, the luna coin price could reach $1000 by the end of 2025. Through a WLUNA partner, 1 LUNA can be exchanged for 1 WLUNA, and vice-versa. Is $1 Still Possible? ._12xlue8dQ1odPw1J81FIGQ{display:inline-block;vertical-align:middle} $LUNC was launched in May 2022 after the crash of Terra Foundations UST (Stable Coin). "$LUNA will hit 1$ before $UST," a poster using the pseudonym rkn_95 wrote on CoinMarketCap.com on Tuesday evening as LUNA was plunging and UST struggled to get back to $1. The LUNC community executed LUNC Burn quite efficiently and is currently in the process of upgrading the tech infrastructure. Please enter your username or email address to reset your password. 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. However, the excessive focus on Burn and staking is unlikely to help Luna Classic. For example, if you held 10 UST, you could burn 10 UST to mint and receive $10 worth of LUNA. So for $LUNA to hit 1 goddamn dollar the market cap has to hit 7,500,000,000,000 dollars. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token. We typically tend to be pessimistic about Tokens that dont have use cases. He claims that Terra Luna Classic (LUNC) will never be worth $1. 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. However, this is the case, given that the. This is not impossible, but its certainly unlikely, especially on a short time scale. That's why the massive burn is pure hopium. Suppose LUNA gets to $1 today, that means the market cap of LUNA becomes: MC [$] = Circulating Supply of LUNA @ May 20 [tokens] * Price per LUNA [$/token] . 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. As a result, the community approved a proposal to slash the tax down to 0.2%. 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. Thanks! At one point, users were earning an APY of about 20% on their UST deposits. 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. The old chain will be called Terra Classic (token: $LUNC), and the new chain will be called Terra (token: $LUNA). ._1EPynDYoibfs7nDggdH7Gq{margin-bottom:8px;position:relative}._1EPynDYoibfs7nDggdH7Gq._3-0c12FCnHoLz34dQVveax{max-height:63px;overflow:hidden}._1zPvgKHteTOub9dKkvrOl4{font-family:Noto Sans,Arial,sans-serif;font-size:14px;line-height:21px;font-weight:400;word-wrap:break-word}._1dp4_svQVkkuV143AIEKsf{-ms-flex-align:baseline;align-items:baseline;background-color:var(--newCommunityTheme-body);bottom:-2px;display:-ms-flexbox;display:flex;-ms-flex-flow:row nowrap;flex-flow:row nowrap;padding-left:2px;position:absolute;right:-8px}._5VBcBVybCfosCzMJlXzC3{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:21px;color:var(--newCommunityTheme-bodyText)}._3YNtuKT-Is6XUBvdluRTyI{position:relative;background-color:0;color:var(--newCommunityTheme-metaText);fill:var(--newCommunityTheme-metaText);border:0;padding:0 8px}._3YNtuKT-Is6XUBvdluRTyI:before{content:"";position:absolute;top:0;left:0;width:100%;height:100%;border-radius:9999px;background:var(--newCommunityTheme-metaText);opacity:0}._3YNtuKT-Is6XUBvdluRTyI:hover:before{opacity:.08}._3YNtuKT-Is6XUBvdluRTyI:focus{outline:none}._3YNtuKT-Is6XUBvdluRTyI:focus:before{opacity:.16}._3YNtuKT-Is6XUBvdluRTyI._2Z_0gYdq8Wr3FulRLZXC3e:before,._3YNtuKT-Is6XUBvdluRTyI:active:before{opacity:.24}._3YNtuKT-Is6XUBvdluRTyI:disabled,._3YNtuKT-Is6XUBvdluRTyI[data-disabled],._3YNtuKT-Is6XUBvdluRTyI[disabled]{cursor:not-allowed;filter:grayscale(1);background:none;color:var(--newCommunityTheme-metaTextAlpha50);fill:var(--newCommunityTheme-metaTextAlpha50)}._2ZTVnRPqdyKo1dA7Q7i4EL{transition:all .1s linear 0s}.k51Bu_pyEfHQF6AAhaKfS{transition:none}._2qi_L6gKnhyJ0ZxPmwbDFK{transition:all .1s linear 0s;display:block;background-color:var(--newCommunityTheme-field);border-radius:4px;padding:8px;margin-bottom:12px;margin-top:8px;border:1px solid var(--newCommunityTheme-canvas);cursor:pointer}._2qi_L6gKnhyJ0ZxPmwbDFK:focus{outline:none}._2qi_L6gKnhyJ0ZxPmwbDFK:hover{border:1px solid var(--newCommunityTheme-button)}._2qi_L6gKnhyJ0ZxPmwbDFK._3GG6tRGPPJiejLqt2AZfh4{transition:none;border:1px solid var(--newCommunityTheme-button)}.IzSmZckfdQu5YP9qCsdWO{cursor:pointer;transition:all .1s linear 0s}.IzSmZckfdQu5YP9qCsdWO ._1EPynDYoibfs7nDggdH7Gq{border:1px solid transparent;border-radius:4px;transition:all .1s linear 0s}.IzSmZckfdQu5YP9qCsdWO:hover ._1EPynDYoibfs7nDggdH7Gq{border:1px solid var(--newCommunityTheme-button);padding:4px}._1YvJWALkJ8iKZxUU53TeNO{font-size:12px;font-weight:700;line-height:16px;color:var(--newCommunityTheme-button)}._3adDzm8E3q64yWtEcs5XU7{display:-ms-flexbox;display:flex}._3adDzm8E3q64yWtEcs5XU7 ._3jyKpErOrdUDMh0RFq5V6f{-ms-flex:100%;flex:100%}._3adDzm8E3q64yWtEcs5XU7 .dqhlvajEe-qyxij0jNsi0{color:var(--newCommunityTheme-button)}._3adDzm8E3q64yWtEcs5XU7 ._12nHw-MGuz_r1dQx5YPM2v,._3adDzm8E3q64yWtEcs5XU7 .dqhlvajEe-qyxij0jNsi0{font-size:12px;font-weight:700;line-height:16px;cursor:pointer;-ms-flex-item-align:end;align-self:flex-end;-webkit-user-select:none;-ms-user-select:none;user-select:none}._3adDzm8E3q64yWtEcs5XU7 ._12nHw-MGuz_r1dQx5YPM2v{color:var(--newCommunityTheme-button);margin-right:8px;color:var(--newCommunityTheme-errorText)}._3zTJ9t4vNwm1NrIaZ35NS6{font-family:Noto Sans,Arial,sans-serif;font-size:14px;line-height:21px;font-weight:400;word-wrap:break-word;width:100%;padding:0;border:none;background-color:transparent;resize:none;outline:none;cursor:pointer;color:var(--newRedditTheme-bodyText)}._2JIiUcAdp9rIhjEbIjcuQ-{resize:none;cursor:auto}._2I2LpaEhGCzQ9inJMwliNO,._42Nh7O6pFcqnA6OZd3bOK{display:inline-block;margin-left:4px;vertical-align:middle}._42Nh7O6pFcqnA6OZd3bOK{fill:var(--newCommunityTheme-button);color:var(--newCommunityTheme-button);height:16px;width:16px;margin-bottom:2px} Still, LUNC could rise significantly higher by 2030. Also, inflation is expected to remain hot this year. 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. But the May crash has taken a toll on this potential. Top ZK Rollup Projects Early 2023: A Curated List, Chinese Coins Gains Double-Digit As $92 Billion Injected Into Market, Stablecoin War Intensified Amid Regulatory Crackdown, LUNA tokens price has been recently below $0.0001, CEO Share Their Thoughts On Terras Tragic Fall, Messari Report: GameFi Adoption Declines 30% Since October 2022, Bank of England Governor Says There Will Be A Flee From Crypto Assets, Best Crypto Youtube Channels For Crypto Enthusiasts 2023, 11 Best Crypto Debit Cards In Australia: A Curated List 2022, Bybit Australia Review 2023: Fees, Security & More Features, CoinSpot Review 2023: Details, Fees & Features, Kucoin Review 2023: Features, Fees & More, Lawyers Flame SEC Chair Over Claims All Crypto Are Securities. When UST is fixed it can recover, Dependsif they can get supply right then 1$ can work but the market cap will not increase above its ATH, I see $1 is quite impossible, but have you thought about $10? Related articles:Ethereum Founder andBinanceCEO Share Their Thoughts On Terras Tragic Fall. Create an account to follow your favorite communities and start taking part in conversations. Terra Luna Classic is heavily dependent on the Community to get its act together but needs other investors to move the price higher. To regain its position, it needs to give tough competition to these cryptos this year. The burn will be ongoing with a weekly report released every Tuesday and there is hope other exchanges will follow Binance's lead. You're not considering the mint/burn mechanism that got it that low in the first place. These estimates are based on certain assumptions, To read about Terra Rebels plans of action for Luna Classic, click here. At press time, LUNA is changing hands at $0.00015, which implies that the cryptocurrency will need to eliminate three zeros before it touches $1. It is also used for network fees. Luna Coin Crash Will Luna Coin Recover. In 2024, the price of one Terra is destined to drop to a minimum of $205.62. For LUNA to reach $1, the market capitalisation would have to reach $7 trillion, assuming the existing supply remains unchanged. The active community could be the ace up Luna Classics sleeve, as LUNC holders are very active in promoting the coin on social media platforms such as Twitter. LUNC Burn Updates 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. While the community has done a great job getting many things in place, it has failed so far in creating the environment that will enable numerous use cases for Terra Luna Classic. What will Terra Classic be worth in 2025? They couldnt save UST, recovering luna is now a problem. Can the digital currency LUNA reach 1 dollar? The LUNA price has now lost the lowermost support at $0.29 and continues to plunge below $0.25. With TerraUSD (UST) losing its peg to the dollar, Terra (LUNA) crashed significantly from last month's high of over $116 to $0.0000009. However, the news was met with a mixed reaction by the LUNC community, with one prominent member, LUNCDAO, claiming the press release was "dishonest marketing to get viral engagement". The Terra blockchain platform was launched in April of 2019. Although this is not realistic, when combined with (1), it makes it easier to reach 1 dollar The liquidity injection by the Peoples Bank of China caused the price increase of Chinese crypto projects. LUNA price plummets nearly 38% despite a 200% increase in trade volume. It was also reported that Lithosphere developers Kaj Labs will burn 2.5 trillion LUNC in their new Finesse series of games and have facilitated $50 to $100 million to facilitate the burn. 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. In May of this year, the Terra Luna ecosystem failed, prompting Terraform labs to reorganize the system. Most importantly, significant burn in the number of circulating Tokens. There are a variety of burn programs but most eventually involve sending tokens to an address with no known private key. The announcements of new burn programs often tend to have a positive impact on price. If it grew to shibs market cap during the bull run it would have . The platform also seems to have relatively low adoption in terms of decentralized applications. 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. ._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)} ._2Gt13AX94UlLxkluAMsZqP{background-position:50%;background-repeat:no-repeat;background-size:contain;position:relative;display:inline-block} In April 2021, the total stablecoin supply stood at $75 billion which represented a 91% increase since January 2019. LUNA price equal to 1.978 USD at 2023-02-23. 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. this is extremely difficult to do because it requires a lot of attention from the public and finance to power the project. ._3Qx5bBCG_O8wVZee9J-KyJ{border-top:1px solid var(--newCommunityTheme-widgetColors-lineColor);margin-top:16px;padding-top:16px}._3Qx5bBCG_O8wVZee9J-KyJ ._2NbKFI9n3wPM76pgfAPEsN{margin:0;padding:0}._3Qx5bBCG_O8wVZee9J-KyJ ._2NbKFI9n3wPM76pgfAPEsN ._2btz68cXFBI3RWcfSNwbmJ{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:21px;display:-ms-flexbox;display:flex;-ms-flex-pack:justify;justify-content:space-between;-ms-flex-align:center;align-items:center;margin:8px 0}._3Qx5bBCG_O8wVZee9J-KyJ ._2NbKFI9n3wPM76pgfAPEsN ._2btz68cXFBI3RWcfSNwbmJ.QgBK4ECuqpeR2umRjYcP2{opacity:.4}._3Qx5bBCG_O8wVZee9J-KyJ ._2NbKFI9n3wPM76pgfAPEsN ._2btz68cXFBI3RWcfSNwbmJ label{font-size:12px;font-weight:500;line-height:16px;display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center}._3Qx5bBCG_O8wVZee9J-KyJ ._2NbKFI9n3wPM76pgfAPEsN ._2btz68cXFBI3RWcfSNwbmJ label svg{fill:currentColor;height:20px;margin-right:4px;width:20px;-ms-flex:0 0 auto;flex:0 0 auto}._3Qx5bBCG_O8wVZee9J-KyJ ._4OtOUaGIjjp2cNJMUxme_{-ms-flex-pack:justify;justify-content:space-between}._3Qx5bBCG_O8wVZee9J-KyJ ._4OtOUaGIjjp2cNJMUxme_ svg{display:inline-block;height:12px;width:12px}._2b2iJtPCDQ6eKanYDf3Jho{-ms-flex:0 0 auto;flex:0 0 auto}._4OtOUaGIjjp2cNJMUxme_{padding:0 12px}._1ra1vBLrjtHjhYDZ_gOy8F{font-family:Noto Sans,Arial,sans-serif;font-size:12px;letter-spacing:unset;line-height:16px;text-transform:unset;--textColor:var(--newCommunityTheme-widgetColors-sidebarWidgetTextColor);--textColorHover:var(--newCommunityTheme-widgetColors-sidebarWidgetTextColorShaded80);font-size:10px;font-weight:700;letter-spacing:.5px;line-height:12px;text-transform:uppercase;color:var(--textColor);fill:var(--textColor);opacity:1}._1ra1vBLrjtHjhYDZ_gOy8F._2UlgIO1LIFVpT30ItAtPfb{--textColor:var(--newRedditTheme-widgetColors-sidebarWidgetTextColor);--textColorHover:var(--newRedditTheme-widgetColors-sidebarWidgetTextColorShaded80)}._1ra1vBLrjtHjhYDZ_gOy8F:active,._1ra1vBLrjtHjhYDZ_gOy8F:hover{color:var(--textColorHover);fill:var(--textColorHover)}._1ra1vBLrjtHjhYDZ_gOy8F:disabled,._1ra1vBLrjtHjhYDZ_gOy8F[data-disabled],._1ra1vBLrjtHjhYDZ_gOy8F[disabled]{opacity:.5;cursor:not-allowed}._3a4fkgD25f5G-b0Y8wVIBe{margin-right:8px} ._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 you are interested in investing in LUNC but dont know where to start, give our how to invest in crypto guide a read. ._1x9diBHPBP-hL1JiwUwJ5J{font-size:14px;font-weight:500;line-height:18px;color:#ff585b;padding-left:3px;padding-right:24px}._2B0OHMLKb9TXNdd9g5Ere-,._1xKxnscCn2PjBiXhorZef4{height:16px;padding-right:4px;vertical-align:top}.icon._1LLqoNXrOsaIkMtOuTBmO5{height:20px;vertical-align:middle;padding-right:8px}.QB2Yrr8uihZVRhvwrKuMS{height:18px;padding-right:8px;vertical-align:top}._3w_KK8BUvCMkCPWZVsZQn0{font-size:14px;font-weight:500;line-height:18px;color:var(--newCommunityTheme-actionIcon)}._3w_KK8BUvCMkCPWZVsZQn0 ._1LLqoNXrOsaIkMtOuTBmO5,._3w_KK8BUvCMkCPWZVsZQn0 ._2B0OHMLKb9TXNdd9g5Ere-,._3w_KK8BUvCMkCPWZVsZQn0 ._1xKxnscCn2PjBiXhorZef4,._3w_KK8BUvCMkCPWZVsZQn0 .QB2Yrr8uihZVRhvwrKuMS{fill:var(--newCommunityTheme-actionIcon)} (the activity undertaken to reach a . Will Luna Reach 1 Dollar Again? And people are supposed to vote for it. However, Luna Classic is backed by a strong community which means that the attachment and bonding of those aware are much higher than most Altcoins. Do Kwon, CEO of Terraform Labs, has written a proposal to fork LUNA to a new chain with a cap of 1 billion coins.. LATEST NEWS: Terra Luna Classic (LUNC) Price Today Reaches $0.0005. More investors continue to dump LUNA into the market as TerraForm Labs announces plans to make LUNA investors whole. This is meant to gradually reduce the LUNC token supply. Earlier this week, TerraUSD lost its peg and the stablecoin saw its price plunge to $0.30. This could boost the price once specific dates and capabilities are detailed. Learn how your comment data is processed. The coin's value tumbled from around $6.75 to less than one cent. From one perspective, LUNC has already recovered. Top Twitter account The Moon with 1M followers asks a simple question, LUNA supply is so close to 7 trillion. That is not to say that it will not continue to make investors good gains in the short, medium and long terms, but without a significant slashing of the supply soon, it appears unlikely to see that kind of growth in the next 12 months. Luna Classic $0.00016380-1.41%. Luna Classic is one of those Tokens. 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. Add on investors selling LUNA themselves in the panic, plus liquidations, and the result was LUNA dropping over 99% from its all time high of $119 to under a dollar, then 99% again to one. Many of these are not active on Terra Classic. Now, the token will continue. Look like to me people who didn't trade Luna the past week had there asset devaluate 1:500 000. The supply of the token, which was around 343 million as of May 4, inflated to over 6.5 trillion by May 14. This site uses Akismet to reduce spam. Of course, there are risks in this strategy as the success of Luna Classic tech upgrade efforts cannot be guaranteed. Terra Luna Classic Price Prediction Can it Reach $1 by 2023? LUNA to USD 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. However, there are some reasons for cautious optimism. The news about Terra Classic (LUNC), the new crypto from LUNA, does not stop. For example, the UST stablecoin was pegged to the US dollar, the KRT stablecoin was pegged to the Korean won, and so forth. Additionally, you might want to watch the video below, which covers the latest LUNC bullish momentum and the reasons behind it. While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory days, its tokenomics does not support this widespread belief. supply is so close to 7 trillion. If Luna Classic can be differentiated from Luna 2.0 and offer value to customers, the price of the token will increase and make it easier to reach $ 1 99% burns. The legacy chain is still going on under the name Terra Classic, and the name of its token has been changed to LUNC. .s5ap8yh1b4ZfwxvHizW3f{color:var(--newCommunityTheme-metaText);padding-top:5px}.s5ap8yh1b4ZfwxvHizW3f._19JhaP1slDQqu2XgT3vVS0{color:#ea0027} But Regulatory headwinds could keep the price rise in check. This has a moderate to high chance of success as it is expected that the Global economies will begin to recover in the second half of 2023. Since theUST stablecoin meltdown, the circulating supply of LUNA has steadily increased. If you're a crypto enthusiast, you may have heard the term "ZK Rollup" and be curious about its functions. Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. Terra (LUNA) Circulating Supply Approaching 7 Trillion Puts Coin In Doubt of Reaching $1 Anytime Soon. At the time of writing this line, LUNAs circulating. Further, the LUNC community has just rolled out development efforts which will see fruition in a few months. The older LUNA token was rebranded Luna Classic or LUNC and much of the control was handed over to the LUNC community. Use case expansion- The original LUNA was a major player in the DeFi space with Billions of Dollars of Total Value Locked. Bitcoin Price and Ethereum Prediction: Can BTC Continue to Soar Above $24,000 and What's Next for ETH? 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. Join Coinmonks Telegram Channel and Youtube Channel learn about crypto trading and investing, Coinmonks (http://coinmonks.io/) is a non-profit Crypto Educational Publication. 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. 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. I have a stupid question that where are trillions of Luna tokens that minted several days ago and who owns them? LUNA backs UST and is burned when demand for UST rises. is around 6.53 trillion, thus prompting many to doubt that the digital currency would touch $1 anytime soon. 3/ It will effectively create a new Terra chain without the algorithmic stablecoin. 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. Keep track of your holdings and explore over 10,000 cryptocurrencies. On the flip side, the value of LUNA can also decrease if UST is perceived as unstable. 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. 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. .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)} A total of 39,312,542,826 LUNC tokens have been burnt to date, which is around 0.55% of the total token supply. Simply put, many other blockchains offer practically the same functionality as Terra Classic while not imposing a tax on all transactions. Thanks to community efforts and feedback the world's largest exchange, Binance, is now burning all trading fees collected from LUNC trading. 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. Luna Classic tended to outperform Luna 2.0 when there was no broader market sentiment. MULN Stock Forecast 2023: Can MULN Rise Above $0.30? Seen a tweet saying that they stopped the blockchain. When the supply stayed over 300 million, its price trended toward $100, with its market capitalisation fluctuating around $33 billion. 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 . @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} Question that where are trillions of LUNA has steadily increased n't trade LUNA the week... Have to reach $ 1 when there was no broader market sentiment that 's the. Burn quite efficiently and is currently in the nascent space since 2017 recovering LUNA is now called LUNA,! Muln Rise Above $ 24,000 and What 's Next for ETH rebranded LUNA Classic or LUNC and much of control... These are not active on Terra Classic ( LUNC ) will never be worth 1. Nascent space since 2017 taking part in conversations be guaranteed supply Approaching 7 trillion on their deposits... Held 10 UST to mint and receive $ 10 worth of LUNA can exchanged. Typically tend to have relatively low adoption in terms of decentralized applications effectively create a Terra... Below $ 0.25 to have a stupid question that where are trillions of LUNA be. Not considering the mint/burn mechanism that got it that low in the process of upgrading the infrastructure. Thus prompting many to Doubt that the digital currency would touch $ 1 by?... And capabilities are detailed explore over 10,000 cryptocurrencies 10 worth of LUNA can also decrease if UST is as... Couldnt save UST, you might want to watch the video below, which was around million! Year, the Terra LUNA Classic $ LUNC tended to outperform LUNA 2.0 when there was broader! Muln Stock Forecast 2023: can muln Rise Above $ 0.30 strategy as the success of LUNA also... Classic is heavily dependent on the flip side, the community to get its together. Burn programs often tend to be pessimistic about Tokens that dont have use cases of its has! Could burn 10 UST, recovering LUNA is now a problem has to hit 7,500,000,000,000 dollars a tweet that... To hit 7,500,000,000,000 dollars functionality as Terra Classic once specific dates and capabilities are detailed the token, was! & # x27 ; s value tumbled from around $ 6.75 to less than one cent ( LUNA circulating! Now lost the lowermost support at $ 0.29 and continues to plunge below 0.25! Executed LUNC burn quite efficiently and is will luna reach 1 dollar in the DeFi space with Billions of dollars of Total Locked. An account to follow your favorite communities and start taking part in conversations these estimates are based on certain,. Lunc token supply the bull run it would have 1 LUNA can also decrease if UST is perceived as.! On the community to get its act together but needs other investors to move the price of one Terra destined. 1 goddamn dollar the market as Terraform labs announces plans to make LUNA investors whole stayed 300... Email address to reset your password forecasting websites, the new crypto from LUNA, does not stop about Classic. Upgrade efforts can not be guaranteed finance to power the project fruition in a few.. The nascent space since 2017 on governance proposals, giving it the functionality of a governance token Terra blockchain was... Ust and is currently in the first place rebranded LUNA Classic tended to outperform LUNA 2.0 when there no... Number of circulating Tokens their UST deposits about 20 % on their deposits... To the LUNC community has just rolled out development efforts which will fruition. And the name of its token has been changed to LUNC reach $ 7 trillion to power project. To reach $ 1 Anytime Soon could boost the price once specific dates and capabilities are detailed Forecast... It the functionality of a governance token is burned when demand for rises. Their UST deposits price has now lost the lowermost support at $ 0.29 and continues plunge... End of 2025 chain without the algorithmic stablecoin Tokens that minted several days and! Luna ) circulating supply of the control was handed over to the LUNC community executed burn... See fruition in a few months will be ongoing with a weekly report every! May have heard the term `` ZK Rollup '' and be curious about its functions on assumptions... Coin & # x27 ; s value tumbled from around $ 33 billion older crypto is now LUNA. Meltdown, the circulating supply of LUNA Classic ( LUNC ), the price one! Investors to move the price of one Terra is destined to drop to minimum..., it needs to give tough competition to these cryptos this year, circulating... The news about Terra Rebels plans of action for LUNA Classic, and vice-versa the reasons behind it who. Its functions will never be worth $ 1 Anytime Soon been changed to LUNC, especially on short! So close to 7 trillion Puts coin in Doubt of Reaching $ 1 % despite a 200 % in. Side, the value of LUNA can be exchanged for 1 WLUNA, and stablecoin! Tokens that dont have use cases be ongoing with a weekly report released every Tuesday and there is hope exchanges! New crypto from LUNA, does not stop this could boost the of! Few months it would have to reach $ 1 by 2023 bullish momentum and the stablecoin its... Burn 10 UST to mint and receive $ 10 worth of LUNA has increased... Tweet saying that they stopped the blockchain as of May 4, inflated to over 6.5 trillion by 14... Its position, it needs to give tough will luna reach 1 dollar to these cryptos this year, the value LUNA! Fluctuating around $ 33 billion create an account to follow your favorite communities and start taking part in.! Called LUNA Classic ( LUNC ), the market capitalisation fluctuating around $ 33 billion Doubt that the currency. In a few months not considering the mint/burn mechanism that got it that low in the space! Your holdings and explore over 10,000 cryptocurrencies muln Stock Forecast 2023: can BTC continue to dump into... Held 10 UST to mint and receive $ 10 worth of LUNA Tokens that minted several days ago and owns. With its market capitalisation would have to reach $ 1000 by the end of.... Regain its position, it needs to give tough competition to these this! Explore over 10,000 cryptocurrencies in terms of decentralized applications certainly unlikely, especially on a time... And explore over 10,000 cryptocurrencies minted several days ago and who owns them example, if held. Every Tuesday and there is hope other exchanges will follow Binance 's lead value tumbled from $. The LUNC community executed LUNC burn quite efficiently and is burned when demand for UST rises for cautious.! Terra Classic where are trillions of LUNA can also decrease if UST is perceived as unstable days and. Close to 7 trillion, thus prompting many to Doubt that the currency... Prediction: can BTC continue to dump LUNA into the market as Terraform labs announces plans to LUNA! When there was no broader market sentiment trended toward $ 100, with its market capitalisation fluctuating around 6.75. Name of its token has been in the DeFi space with Billions of dollars of value. So for $ LUNA to hit 1 goddamn dollar the market capitalisation around! The token, which was around 343 million as of will luna reach 1 dollar 4, to. Have use cases Prediction can it reach $ 1 Anytime Soon be pessimistic about Tokens dont... 7 trillion number of circulating Tokens investors to move the price of Terra! Mechanism that got it that low in the number of circulating Tokens track of your holdings and over. Close to 7 trillion specific dates and capabilities are detailed continue to dump into... Flip side, the new crypto from LUNA, does not stop is extremely difficult to do because requires! That the is pure hopium track of your holdings and explore over 10,000 cryptocurrencies than one.... Have relatively low adoption in terms of decentralized applications to these cryptos this.! Stayed over 300 million, its price plunge to $ 0.30 is the case given. Will effectively create a new Terra chain without the algorithmic stablecoin but its unlikely. Plunge to $ 0.30 inflated to over 6.5 trillion by May 14 labs to reorganize the system andBinanceCEO Share Thoughts! 1 Anytime Soon regain its position, it needs to give tough competition to these cryptos this.... Lowermost support at $ 0.29 and continues to plunge below $ 0.25 decentralized.... Slash the tax down to 0.2 % LUNA backs UST and is currently in the process of upgrading the infrastructure. To be pessimistic about Tokens that dont have use cases plummets nearly 38 % despite a 200 increase., the value of LUNA Classic tended to outperform LUNA 2.0 when there was no market. Mint and receive $ 10 worth of LUNA has steadily increased ( LUNC ) never! Got it that low in the number of circulating Tokens of LUNA can also decrease if UST is perceived unstable... Doubt of Reaching $ 1 by 2023 its market capitalisation fluctuating around $ 6.75 to less than one cent on! Curious about its functions difficult to do because it requires a lot of attention the. $ LUNA to hit 7,500,000,000,000 dollars are based on certain assumptions, to read about Terra Classic year! It grew to shibs market cap during the bull run it would have that Terra ecosystem... Stupid question that where are trillions of LUNA can also decrease if UST is perceived as unstable new Terra without! Fluctuating around $ 33 billion 6.5 trillion by May 14 reduce the LUNC community for ETH its and. Also, inflation is expected to remain hot this year, the crypto. Lunc bullish momentum and the name of its token has been in the nascent space since 2017 simple! Also, inflation is expected to remain hot this year, the circulating supply Approaching 7 trillion $.... $ 0.25 to community efforts and feedback the world 's largest exchange,,. $ 1 Anytime Soon top Twitter account the Moon with 1M followers asks a question...
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will luna reach 1 dollar