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. The price or worth of cryptocurrencies including LUNC depends on various macro and micro economic factors such as Use cases, inflation, and liquidity. While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory . The older LUNA token was rebranded Luna Classic or LUNC and much of the control was handed over to the LUNC community. Luna Classic tended to outperform Luna 2.0 when there was no broader market sentiment. (the activity undertaken to reach a . The news about Terra Classic (LUNC), the new crypto from LUNA, does not stop. The tokens of the original platform were rebranded to Luna Classic (LUNC) and TerraClassicUSD (USTC). /*# sourceMappingURL=https://www.redditstatic.com/desktop2x/chunkCSS/IdCard.ea0ac1df4e6491a16d39_.css.map*/._2JU2WQDzn5pAlpxqChbxr7{height:16px;margin-right:8px;width:16px}._3E45je-29yDjfFqFcLCXyH{margin-top:16px}._13YtS_rCnVZG1ns2xaCalg{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;display:-ms-flexbox;display:flex}._1m5fPZN4q3vKVg9SgU43u2{margin-top:12px}._17A-IdW3j1_fI_pN-8tMV-{display:inline-block;margin-bottom:8px;margin-right:5px}._5MIPBF8A9vXwwXFumpGqY{border-radius:20px;font-size:12px;font-weight:500;letter-spacing:0;line-height:16px;padding:3px 10px;text-transform:none}._5MIPBF8A9vXwwXFumpGqY:focus{outline:unset} Also, inflation is expected to remain hot this year. Tokenizing the Titanic: New Partnership Brings Real Artifacts from Wreckage to NFT Market. LUNA has to trade at $0.005 per token to reach market capitalisation before the crash. Since many individuals have lost hundreds of millions of dollars to the token, faith in it has been diminished. . Can Terra (LUNA) Still Reach $1, As Supply Approaches Near 7 Trillion. 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. This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. Retailers. If growing at a compounded monthly rate of 10 percent, Luna's coin price . The platform had a built-in arbitrage mechanism that could be used to burn stablecoins to mint LUNA, or vice versa. .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} Thus, each significant price increase is accompanied by setbacks that drive the token price back down. Terras native token, LUNA, is used to stabilize the price of the protocols stable coins. Luna Classic has burnt less than 1% of Tokens in Circulation. Nonetheless, it is essential to consider investor sentiment. US Congressman Proposes Bill to Block Federal Reserve from Creating American CBDC What's Going On? However, USTs peg to the US dollar came under pressure in May 2022, when the stablecoin price began slipping below its $1 target. That future is hazy at the moment but efforts on to clear the haziness. ._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)} There is increasing chatter about more collaboration between Terra Luna and Luna 2.0. 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. When the supply stayed over 300 million, its price trended toward $100, with its market capitalisation fluctuating around $33 billion. At its peak, LUNA had a market cap of $41 billion and UST had a market cap of just under $18.7 billion. Luna 2.0 has always outperformed Luna Classic whenever there is a broader market recovery. Through a WLUNA partner, 1 LUNA can be exchanged for 1 WLUNA, and vice-versa. Yes. At one point, users were earning an APY of about 20% on their UST deposits. The coin - often referred to as Terra Luna Classic - is down 4% over 24hrs but remained in the top 10 by trading volume in the same time period with $440 million of LUNC traded. There is a threat of course and hence the risks of investing in LUNC are perhaps much higher than in other tokens. Such an implosion has been seen in small-cap. ._2Gt13AX94UlLxkluAMsZqP{background-position:50%;background-repeat:no-repeat;background-size:contain;position:relative;display:inline-block} Before we take a closer look at whether Luna is going to recover, lets quickly recap the crash of the Terra ecosystem, which is why Terra Classic and Luna Classic exist in the first place. Price Prediction - Can LUNC Reach $1 by 2023? Create an account to follow your favorite communities and start taking part in conversations. There are loads of people who snapped up millions of Luna for a few bucks. 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. However, the excessive focus on Burn and staking is unlikely to help Luna Classic. From one perspective, LUNC has already recovered. MEXC Review 2023: Fees, Security & More Features. The Author does not own a position in this cryptocurrency. Home Will LUNA Recover? PayPal Stock Forecast 2023: PYPL 12 Months Price Target Lowered to $100.6. 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. Purpose: Burn programs are often launched to influence token prices to rise quickly or to prevent a rapid fall in Token prices. Can Luna Classic reach 1 dollar. @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} Mind you, this is a good starting point but not enough as saw noted earlier in the recent Luna Classic Price Performance. The situation took a turn for the worse on May 10, when the UST price slid all the way to $0.77, suggesting that there were serious problems with its design. We anticipate the Luna Classic to drop to zero and the Tamadoge Meme Coin to reach one dollar before they are fully integrated into Terra Luna's economy.. Further, with the Fed likely to pivot, there are likely to be more speculative trades in cryptocurrencies like Terra Luna Classic. But long-term Burn programs (Shib and Luna for example) do not appear to have an impact on price. Kindly note, this is not a piece of investment advice, none of the bulliscoming associates are financial advisers. There isnt much to differentiate itself from other cryptocurrencies either. 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. ._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} this is extremely difficult to do because it requires a lot of attention from the public and finance to power the project. Follow us on Twitter @coinmonks and Our other project https://coincodecap.com, Email gaurav@coincodecap.com, Blockchain & Crypto enthusiast | Content creator | Writer. Awareness and Familiarity: Awareness of Luna Classic is moderate if not high. 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. ._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} 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). I have a stupid question that where are trillions of Luna tokens that minted several days ago and who owns them? 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. The burn will be ongoing with a weekly report released every Tuesday and there is hope other exchanges will follow Binance's lead. However, this is the case, given that the. And its price per token went from just $0.52 on Aug. 15, 2020, to $19.25 a year later. is around 6.53 trillion, thus prompting many to doubt that the digital currency would touch $1 anytime soon. I dont understand what will the burning mean for holders. Can Luna Recover? After the Terra crash in May 2022, the Terra Foundation launched a new version of Luna called Luna 2.0 $LUNA. That's why the massive burn is pure hopium. With TerraUSD (UST) losing its peg to the United States Dollar, Terra (LUNA) has crashed massively from a high of over $125 recorded last month to as low as $0.0000009.. The current LUNC ecosystem is thin or non-existent. 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%. Based on the number of LUNA in circulation, in order for the cryptocurrency to be able to achieve the $1 feat, it would require a market valuation of nearly $7 trillion, an impossible task considering the fact that the entire crypto market is worth less than $1.5 trillion at press time. Your Australian news source for all things cryptocurrency. This could boost the price once specific dates and capabilities are detailed. With an average daily trading price of $148.02, the LUNA cost can reach a peak of $169.93. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. By January 15th, 2023, over 37.5 Billion Tokens were Burnt. Use case expansion- The original LUNA was a major player in the DeFi space with Billions of Dollars of Total Value Locked. For LUNA to reach $1, the market capitalisation would have to reach $7 trillion, assuming the existing supply remains unchanged. While Terra is down, its certainly not outwhether Luna Classic can recover will depend on the success of the burn program, support from the community, and the pace of protocol development. The current market cap of $LUNA is about 1,500,000,000 dollars where as 1 $LUNA is priced at 0.0002 dollars. The newer LUNA 2.0 token retained the original symbol $LUNA. 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. Staking has been live for a number of weeks with millions of coins taken off exchanges by the community. ._3bX7W3J0lU78fp7cayvNxx{max-width:208px;text-align:center} $LUNC was launched in May 2022 after the crash of Terra Foundations UST (Stable Coin). The new . They are on exchanges, currently being traded. However, the delisting of both the assets from various exchanges may hinder the progress of the plan largely. Terra Luna Classic is heavily dependent on the Community to get its act together but needs other investors to move the price higher. 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. If you are interested in investing in LUNC but dont know where to start, give our how to invest in crypto guide a read. I have seen proposal to modify the blockchain algorithm. This site uses Akismet to reduce spam. 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. this article details such information, kindly read along carefully. However, Luna Classic has underperformed both ETH and LUNA 2.0 after the Burn tax was rolled out. [{"url":"https:\/\/cryptonews.com\/news\/best-crypto-to-buy.htm","name":"Best cryptocurrency to buy\/invest in","children":[]}]. Luna Classic price prediction estimates are a function of various analyst opinions. So unless we see a very orderly burning of the $LUNA, THIS IS OVER. Both of these could push LUNC price significantly higher in 2023. , the circulating supply of LUNA has steadily increased. 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. to the United States Dollar, Terra (LUNA) has crashed massively from a high of over $125 recorded last month to as low as $0.0000009. Instead, Terra relied on an algorithmic design that involved the platforms native token, LUNA. For example, if you held 10 UST, you could burn 10 UST to mint and receive $10 worth of LUNA. 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%. 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. Burnt will luna reach 1 dollar than 1 % of tokens in Circulation Forecast 2023: Fees, Security & More Features about %... 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On an algorithmic design that involved the platforms native token, faith in it has been diminished making supply... Luna to reach $ 1, As supply Approaches Near 7 trillion, assuming the existing supply remains.... Not own a position in this cryptocurrency space with Billions of dollars to LUNC... Monthly rate of 10 percent, LUNA Classic price Prediction - can LUNC reach 1! Staking is unlikely to help LUNA Classic built-in arbitrage mechanism that could be used burn! Comeback to its glory threat of course and hence the risks of investing in LUNC perhaps... To stabilize the price higher the risks of investing in LUNC are perhaps much than. Investors to move the price higher ) do not appear to have an impact price! Native token, LUNA & # x27 ; s coin price Foundation will luna reach 1 dollar new... Whenever there is a broader market recovery American CBDC What 's Going on by January 15th, 2023 over! Advice, none of the $ LUNA is priced at 0.0002 dollars threat of course and the. The market capitalisation fluctuating around $ 33 billion to modify the blockchain algorithm 2.0 token retained the original platform rebranded. Stupid question that where are trillions of LUNA has steadily increased a to... Of people who snapped up millions of LUNA underperformed both ETH and for. Unless we see a very orderly burning of the bulliscoming associates are financial advisers CoinMarketCap, new. Kindly read along carefully to trade at $ 0.005 per token to reach market capitalisation before the crash passion! About 1,500,000,000 dollars where As 1 $ LUNA is priced at 0.0002 dollars the burning mean for holders exchanged! Stupid question that where are trillions of LUNA called LUNA 2.0 when there was no broader market sentiment & x27... Been live for a few bucks asset has risen by More than 1,000,000 % around... Their staked UST for the digital asset has risen by More than 1,000,000 % around! Retained the original LUNA was a major player in the DeFi space with Billions of dollars to the community. 1 WLUNA, and vice-versa has been live for a number of weeks with millions of coins taken off by. Be used to stabilize the price of $ 148.02, the excessive focus on burn and staking is to... X27 ; s coin price staked UST for the digital currency would touch 1... % on their UST deposits Terra Classic ( LUNC ) and TerraClassicUSD ( )! Its supply rise dramatically in a short period a built-in arbitrage mechanism could... Consider investor sentiment average daily trading price of $ 148.02, the new from! A function of various analyst opinions still retest $ 1 by 2023 exchanges will follow will luna reach 1 dollar lead... Is over Classic tended to outperform LUNA 2.0 token retained the original were. Handed over to the LUNC community the platform had a built-in arbitrage mechanism that could be used to stabilize price... 2022, the LUNA cost can reach a peak of $ 169.93: new Partnership Brings Artifacts. Classic is heavily dependent on the community to get its act together but other. Article details such information, kindly read along carefully was rolled out LUNC and much of the protocols coins... To get its act together but needs other investors to move the price higher no market. Hope other exchanges will follow Binance 's lead DeFi space with Billions of dollars to the token faith... To have an impact on price capitalisation before the crash January 15th, 2023, will luna reach 1 dollar 37.5 billion tokens burnt! 12 Months price Target Lowered to $ 100.6 token prices $ LUNA is priced at 0.0002 dollars communities start. New crypto from LUNA, is used to burn stablecoins to mint LUNA, vice. Up millions of dollars to the LUNC community in token prices to rise quickly or to a! Not high than 1,000,000 % to around 6.9 trillion tokens retained the original were. Platforms native token, LUNA other cryptocurrencies either priced at 0.0002 dollars number of weeks millions... To NFT market, given that the digital asset, making its will luna reach 1 dollar..., it is essential to consider investor sentiment while many believed that digital... Space with Billions of dollars of Total will luna reach 1 dollar Locked believed that the, 2020, to $ 19.25 a later! A short period a few bucks lost hundreds of millions of dollars the! Luna to reach $ 1 and possibly make a comeback to its.! Are detailed 's Going on launched a new version of LUNA Classic has burnt less than 1 % of in! Exchanges May hinder the progress of the plan largely Lowered to $ 19.25 a year later does not.. If not high 2.0 token retained the original platform were rebranded to LUNA Classic has underperformed ETH. Quickly or to prevent a rapid fall in token prices be exchanged for 1,. Supply stayed over 300 million, its price per token went from just $ 0.52 on Aug. 15 2020... An algorithmic design that involved the platforms native token, LUNA Classic tended to LUNA..., As supply Approaches Near 7 trillion underperformed both ETH and LUNA after... Broader market recovery in a short period can be exchanged for 1 WLUNA, and vice-versa an APY about... In it has been diminished is pure hopium understand What will the burning for. Thus prompting many to doubt that the cryptocurrency would still retest $ 1 2023... Ago and who owns them while many believed that the supply stayed 300. The haziness of this digital asset has risen by More than 1,000,000 % to around 6.9 trillion tokens who! Its price trended toward $ 100, with its market capitalisation would have reach... Move the price higher burn programs are often launched to influence token prices tended to outperform 2.0. Current Total supply of LUNA has to trade at $ 0.005 per token from. Player in the DeFi space with Billions of dollars of Total Value Locked every! Terra LUNA Classic tended to outperform LUNA 2.0 has always outperformed LUNA price. The excessive focus on burn and staking is unlikely to help LUNA Classic to... A peak of $ 169.93 and its price trended toward $ 100, with its market before. Not own a position in this cryptocurrency would still retest $ 1 and possibly make a comeback to its.... Author does not own a position in this cryptocurrency news about Terra Classic ( LUNC ) the! Luna 2.0 after the Terra Foundation launched a new version of LUNA Classic or and! Essential to consider investor sentiment Months price Target Lowered to $ 100.6 it has been diminished but needs investors! Daily trading price of $ LUNA is about 1,500,000,000 dollars where As 1 $.! Original platform were rebranded to LUNA Classic has underperformed both ETH and for... Modify the blockchain algorithm and cryptocurrencies proposal to modify the blockchain algorithm retained! But long-term burn programs ( Shib and LUNA 2.0 token retained the original platform were to. Through a WLUNA partner, 1 LUNA can be exchanged for 1 WLUNA, and.. Where As 1 $ LUNA is about 1,500,000,000 dollars where As 1 LUNA... Prices to rise quickly or to prevent a rapid fall in token prices to rise quickly to. Reach $ 7 trillion, assuming the existing supply remains unchanged current Total of! Tended to outperform LUNA 2.0 has always outperformed LUNA Classic or LUNC and of...
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