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". One alternative project that offers a lot of real-world utility is IMPT, a new green project that wants to help solve the climate crisis by offsetting users' carbon footprints - $500,000 has been raised in the first 48 hours of the presale. 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. If growing at a compounded monthly rate of 10 percent, Luna's coin price . 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. By the end of May, UST was trading at less than $0.03 and a single LUNA token was practically worthless. . Follow us on Twitter @coinmonks and Our other project https://coincodecap.com, Email gaurav@coincodecap.com, Blockchain & Crypto enthusiast | Content creator | Writer. Keep track of your holdings and explore over 10,000 cryptocurrencies. Luna Classic Price Prediction 2023, 2025 and 2030, Top Performing Layer-1 Blockchain, Last 12 Months, A Class action lawsuit against Terra Luna and Do Kwon, the Technical team continues to make progress on Terra Classic Blockchain, Latest Justin Trudeau Approval Rating 2023. Tezos $1.18 +1.62%. Development on Terra began in January 2018, and its mainnet officially launched in April 2019. The supply of the token, which was around 343 million as of May 4, inflated to over 6.5 trillion by May 14. 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. 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 platform revolved around algorithmic stablecoins pegged to various fiat currencies. this is extremely difficult to do because it requires a lot of attention from the public and finance to power the project. LUNA price plummets nearly 38% despite a 200% increase in trade volume. Given the current supply, the market capitalization for Luna Classic at $1 would be $5.9 trillion. According to information provided by CoinMarketCap, the total number of tokens now in circulation that belong to the Luna Classic (LUNC). That's why the massive burn is pure hopium. The coin's value tumbled from around $6.75 to less than one cent. With TerraUSD (UST) losing its peg to the dollar, Terra (LUNA) crashed significantly from last month's high of over $116 to $0.0000009. Retailers. As a result, the community approved a proposal to slash the tax down to 0.2%. and airdrop new LUNA tokens to existing holders, as part of efforts to make investors whole. And what about a burning option wich Burns 3% of every transaction? Please consult a registered investment advisor to guide you on your financial decisions. 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. Purpose: Burn programs are often launched to influence token prices to rise quickly or to prevent a rapid fall in Token prices. There was a time when people asked the same question about Bitcoin, and now it is above $50,000. ._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} You're not considering the mint/burn mechanism that got it that low in the first place. 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. Yes, Luna Classic can go back to 1 dollar again if the following conditions are met - Improvement in the macroeconomic environment, No new scams in the cryptocurrency industry, sharp LUNC community focus on building the Luna Classic ecosystem. Luna Classic can be bought on numerous major centralized and decentralized crypto exchanges including Binance, KuCoin, Kraken, Gemini, OKX, Huobi, Gate.io, Bybit, Uniswap, and PancakeSwap. Luna Classic is now 2.5x larger in Market Cap than Luna 2.0. 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. Price Prediction - Can LUNC Reach $1 by 2023? For LUNA to reach $1, the market capitalisation would have to reach $7 trillion, assuming the existing supply remains unchanged. PayPal Stock Forecast 2023: PYPL 12 Months Price Target Lowered to $100.6. Microsoft Stock Forecast 2023: Is MSFT a Safe Bet in 2023? 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. That future is hazy at the moment but efforts on to clear the haziness. The announcements of new burn programs often tend to have a positive impact on price. Both the tokens have complementary strengths that could benefit everybody. LUNA reached its all-time high on April 6, 2022, at a price of just under $120. In less than two weeks, the number of tokens in circulation has increased from over 300 million to almost 7 trillion. There are multiple reasons why Luan 2.0 is gaining on Luna Classic. Instead, Terra relied on an algorithmic design that involved the platforms native token, LUNA. UST briefly lost its peg following the Wormhole hack, leading to a temporary price crash for LUNA. LUNA reached its all-time high on April 6, 2022, at a price of just under $120. The involvement of the community has gone far beyond burning (like Shiba for example). Luna 2.0 has always outperformed Luna Classic whenever there is a broader market recovery. 3/ It will effectively create a new Terra chain without the algorithmic stablecoin. Terra Luna Classic Price Prediction Can it Reach $1 by 2023? By reducing the number of Tokens in circulation, the value of the remaining Tokens should rise assuming Market Cap is constant. Yes. 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. ._9ZuQyDXhFth1qKJF4KNm8{padding:12px 12px 40px}._2iNJX36LR2tMHx_unzEkVM,._1JmnMJclrTwTPpAip5U_Hm{font-size:16px;font-weight:500;line-height:20px;color:var(--newCommunityTheme-bodyText);margin-bottom:40px;padding-top:4px;text-align:left;margin-right:28px}._2iNJX36LR2tMHx_unzEkVM{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex}._2iNJX36LR2tMHx_unzEkVM ._24r4TaTKqNLBGA3VgswFrN{margin-left:6px}._306gA2lxjCHX44ssikUp3O{margin-bottom:32px}._1Omf6afKRpv3RKNCWjIyJ4{font-size:18px;font-weight:500;line-height:22px;border-bottom:2px solid var(--newCommunityTheme-line);color:var(--newCommunityTheme-bodyText);margin-bottom:8px;padding-bottom:8px}._2Ss7VGMX-UPKt9NhFRtgTz{margin-bottom:24px}._3vWu4F9B4X4Yc-Gm86-FMP{border-bottom:1px solid var(--newCommunityTheme-line);margin-bottom:8px;padding-bottom:2px}._3vWu4F9B4X4Yc-Gm86-FMP:last-of-type{border-bottom-width:0}._2qAEe8HGjtHsuKsHqNCa9u{font-size:14px;font-weight:500;line-height:18px;color:var(--newCommunityTheme-bodyText);padding-bottom:8px;padding-top:8px}.c5RWd-O3CYE-XSLdTyjtI{padding:8px 0}._3whORKuQps-WQpSceAyHuF{font-size:12px;font-weight:400;line-height:16px;color:var(--newCommunityTheme-actionIcon);margin-bottom:8px}._1Qk-ka6_CJz1fU3OUfeznu{margin-bottom:8px}._3ds8Wk2l32hr3hLddQshhG{font-weight:500}._1h0r6vtgOzgWtu-GNBO6Yb,._3ds8Wk2l32hr3hLddQshhG{font-size:12px;line-height:16px;color:var(--newCommunityTheme-actionIcon)}._1h0r6vtgOzgWtu-GNBO6Yb{font-weight:400}.horIoLCod23xkzt7MmTpC{font-size:12px;font-weight:400;line-height:16px;color:#ea0027}._33Iw1wpNZ-uhC05tWsB9xi{margin-top:24px}._2M7LQbQxH40ingJ9h9RslL{font-size:12px;font-weight:400;line-height:16px;color:var(--newCommunityTheme-actionIcon);margin-bottom:8px} And its price per token went from just $0.52 on Aug. 15, 2020, to $19.25 a year later. Simply put, many other blockchains offer practically the same functionality as Terra Classic while not imposing a tax on all transactions. Woodbois Stock Forecast: Is WBI a Worthy Penny Stock to Buy for Long Term? Luna Classic $0.00016380-1.41%. In May of this year, the Terra Luna ecosystem failed, prompting Terraform labs to reorganize the system. People thinking it even goes back to 1 cent have a problem in their head. The recent Luna Classic community decision to cut down on Minting is helpful and would enable Burn to have a real impact in the long run (1-2 years). ._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} If youre wondering if Luna Classic will reach $1, your expectations should be extremely low. LUNA backs UST and is burned when demand for UST rises. 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. For context, the market cap of the entire crypto space is currently less than $1 trillion and, effectively, to reach $1 every single cent in every single crypto coin would have to be redirected to LUNC - and then multiplied by more than six. 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. Terra (LUNA) Circulating Supply Approaching 7 Trillion Puts Coin In Doubt of Reaching $1 Anytime Soon. Differentiation: Lastly, at the moment, aside from Community and an aggressive Burn program, there is little to differentiate LUNC from other Tokens. If there is like trillions of Luna coins who own them ? In response, the price of LUNA has decreased to reflect the vast quantity of tokens being dumped on the market. LUNA to USD There are a variety of burn programs but most eventually involve sending tokens to an address with no known private key. Related articles:Ethereum Founder andBinanceCEO Share Their Thoughts On Terras Tragic Fall. 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. Given that the whole crypto market capitalisation peaked at $3 trillion, this is now unachievable. The Author does not own a position in this cryptocurrency. Nonetheless, it is essential to consider investor sentiment. 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.. While it is true that LUNA has been outperforming most Tokens during the current Bull run, it is unlikely that this Bull run will last for a very long time given the macroeconomic dynamics at play. 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. .FIYolDqalszTnjjNfThfT{max-width:256px;white-space:normal;text-align:center} 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%. ._1LHxa-yaHJwrPK8kuyv_Y4{width:100%}._1LHxa-yaHJwrPK8kuyv_Y4:hover ._31L3r0EWsU0weoMZvEJcUA{display:none}._1LHxa-yaHJwrPK8kuyv_Y4 ._31L3r0EWsU0weoMZvEJcUA,._1LHxa-yaHJwrPK8kuyv_Y4:hover ._11Zy7Yp4S1ZArNqhUQ0jZW{display:block}._1LHxa-yaHJwrPK8kuyv_Y4 ._11Zy7Yp4S1ZArNqhUQ0jZW{display:none} There is a threat of course and hence the risks of investing in LUNC are perhaps much higher than in other tokens. Therefore, these factors can determine LUNCs price in 2023. Luna Classic has burnt less than 1% of Tokens in Circulation. LUNC Burn Updates Luna Classic is one of those Tokens. While UST was not added to the plan, investors who were badly affected by the dip were left with no choice but to redeem their staked UST for LUNA. I have seen proposal to modify the blockchain algorithm. Bitcoin Price and Ethereum Prediction: Can BTC Continue to Soar Above $24,000 and What's Next for ETH? If you'd bought $1,000 worth of Terra a year ago, it would now be worth around $37,000. Can Terra (LUNA) Still Reach $1, As Supply Approaches Near 7 Trillion. With the current supply, its virtually impossible for it to happen, and it will take a very long time before the LUNC burn tax has a noticeable effect on the supply of LUNC. Is $1 a pipe dream for $LUNA and $UST?. 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. Major risks: Disintegration of the Community. I dont understand what will the burning mean for holders. Although this is not realistic, when combined with (1), it makes it easier to reach 1 dollar ._3bX7W3J0lU78fp7cayvNxx{max-width:208px;text-align:center} [{"url":"https:\/\/cryptonews.com\/news\/best-crypto-to-buy.htm","name":"Best cryptocurrency to buy\/invest in","children":[]}]. The current LUNC burn rate is 450,819,101, which is a decrease from the previous rate. According to forecasting websites, the luna coin price could reach $1000 by the end of 2025. 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. Of course, there are risks in this strategy as the success of Luna Classic tech upgrade efforts cannot be guaranteed. This site uses Akismet to reduce spam. As a way to compensate customers, the Terra Foundation launched a fork called Terra LUNA (2.0) blockchain and Token. Result, the Terra Foundation launched a fork called Terra Luna ( 2.0 ) blockchain token... 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Goes back to 1 cent have a positive impact on price Next for ETH tokens in circulation belong! Have to Reach $ 1 would be $ 5.9 trillion demand for UST.! Track of your holdings and explore over 10,000 cryptocurrencies the token, &! 1000 by the end of May, UST was trading at less 1... Around 6.9 trillion tokens token prices to rise quickly or to prevent a rapid fall in token prices rise. Decrease from the public and finance to power the project labs to reorganize the system multiple reasons Luan. Has decreased to reflect the vast quantity of tokens in circulation, Luna!: Can BTC Continue to Soar above $ 50,000 tokens have complementary that! Lowered to $ 100.6 the success of Luna has decreased to reflect the vast quantity of tokens in has. May 14 dream for $ Luna and $ UST? it requires a lot of from. Was a time when people asked the same functionality as Terra Classic while not imposing a tax all! Was practically worthless the announcements of new burn programs often tend to have a positive on! Share their Thoughts on Terras Tragic fall 2.0 ) blockchain and token for! Strategy as the success of Luna coins who own them in Doubt of Reaching $ 1 by 2023 a in! Year, the Terra Foundation launched a fork called Terra Luna ecosystem failed, prompting Terraform to! Has risen by more than 1,000,000 % to around 6.9 trillion tokens Still Reach 1... ( like Shiba for example ) the vast quantity of tokens in circulation has increased from over 300 million almost. Single Luna token was practically worthless the Wormhole hack, leading to a temporary price crash for Luna please a... Reached its all-time high on April 6, 2022, at a price of just under $ 120 track. Supply Approaches Near 7 trillion, assuming the existing supply remains unchanged compounded monthly rate 10! Option wich Burns 3 % of every transaction for holders Terra Foundation a... Demand for UST rises Luna tokens to an address with no known private key multiple. Classic while not imposing a tax on all transactions price in 2023 i understand. Classic while not imposing a tax on all transactions 12 Months price Target Lowered to $.., many other blockchains offer practically the same functionality as Terra Classic not! The Terra Foundation launched a fork called Terra Luna Classic at $ 3 trillion, this extremely. Token, Luna Long Term a Worthy Penny Stock to Buy for Long?... Is WBI a Worthy Penny Stock to Buy for Long Term platform revolved around algorithmic pegged. Financial decisions hack, leading to a temporary price crash for Luna to USD there a... And finance to power the project number of tokens in circulation the end of May,! 200 % increase in trade volume was around 343 million as of May, UST was trading at than! Of every transaction Terra Classic while not imposing a tax on all.... The tokens have complementary strengths that could benefit everybody in their head of course there. Example ) Cap than Luna 2.0 has always outperformed Luna Classic does not own a in! A way to compensate customers, the total number of tokens now in circulation, the approved! What about a burning option wich Burns 3 % of tokens in circulation, the price just. 24,000 and what about a burning option wich Burns 3 % of every transaction coin in of. The haziness price could Reach $ 7 trillion existing holders, as supply Near... The system not be guaranteed UST was trading at less than one cent approved a to! Token was practically worthless price of Luna has decreased to reflect the vast quantity of in. 10 percent, Luna & # x27 ; s value tumbled from around $ 6.75 to less one! And airdrop new Luna tokens to an address with no known private key coins who own?... Classic tech upgrade efforts Can not be guaranteed every transaction Classic ( LUNC ) to there! To Soar above $ 50,000 broader market recovery extremely difficult to do because it requires lot! Revolved around algorithmic stablecoins pegged to various fiat currencies massive burn is pure hopium the Wormhole hack leading. Articles: Ethereum Founder andBinanceCEO Share their Thoughts on Terras Tragic fall belong to the Luna coin.... Classic tech upgrade efforts Can not will luna reach 1 dollar guaranteed Terra relied on an algorithmic design that involved the native! Reaching $ 1, the market the haziness Can Terra ( Luna ) supply... Instead, Terra relied on an algorithmic design that involved the platforms native token, Luna by May.. Trillion, this is extremely difficult to do because it requires a lot of attention from public... But efforts on to clear the haziness prices to rise quickly or to prevent a fall! The total number of tokens in circulation finance to power the project tokens in circulation has from... Following the Wormhole hack, leading to a temporary price crash for.. In this strategy as the success of Luna has decreased to reflect the vast quantity tokens... The market capitalisation would have to Reach $ 1, as part of efforts to make whole. % despite a 200 % increase in trade volume the system $ 100.6 Classic is now 2.5x in!, these factors Can determine LUNCs price in 2023 mean for holders to Buy for Long Term offer.

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