Jan 28, 2023 at 06:17Contents
The Terra Luna Classic (LUNA) price hovers around $0.000178 USD, with a 24-hour trading volume of over $96 million. It’s important to note that this price constantly fluctuates and can change in real time. In the past 24 hours, we’ve seen a decline of 1.83% in the price of LUNA.
As per CoinMarketCap, Terra Luna Classic currently ranks at #50, with a market capitalization of over $1 billion. This is due to the circulating supply of 5,967,270,339,228 LUNA coins in the market, and it’s worth mentioning that the maximum supply is not available.
For those looking to buy Terra Luna Classic, the top cryptocurrency exchanges for trading LUNA include Binance, BingX, BTCEX, Deepcoin, and Bybit. These are just a few options, and you can find more on our crypto exchanges page. It’s essential to do your research and choose a reputable exchange that meets your needs.
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Terra Luna Classic (LUNC) Coin Overview
Terra Luna Classic (LUNA) is a blockchain protocol that aims to bring stability and adoption to the world of crypto payments. The protocol utilizes fiat-pegged stablecoins, allowing for fast and affordable transactions while maintaining the censorship resistance of Bitcoin (BTC). Development on Terra began in 2018, with the Mainnet officially launching in 2019.
As of September 2021, Terra offers stablecoins pegged to several fiat currencies, including the U.S. dollar, the South Korean won, and the International Monetary Fund’s Special Drawing Rights basket of currencies. The team behind Terra has plans to roll out additional options in the future.
On May 28, 2022, the Terra chain underwent a rebranding, launching a new chain and renaming the native token to Terra Luna Classic (LUNA) and the original token to Terra Luna Classic (LUNC). Additionally, the network’s stablecoins were also renamed to Terra Classic stablecoins. This rebranding is believed to be a reference to the Ethereum / Ethereum Classic split that occurred in 2017, with the collapse of UST in the spring of 2022 being compared to the DAO hack that took place in 2017.
Since the collapse of the Terra ecosystem in May 2022 and the crypto exchange FTX in November 2022, LUNC’s market capitalization has dropped from $1.5 billion to $0.9 billion. Transactions on the Terra 2.0 blockchain are validated through the proof-of-stake (PoS) consensus mechanism, making it an eco-friendlier option than proof-of-work blockchains. The network currently has 130 validators working at any given time.
As the leading cryptocurrency, Ethereum has also transitioned to a PoS mechanism, and competition among PoS blockchains has become more intense. However, Terra Luna Classic (LUNA) has its own unique value proposition and the potential to grow in the future.
Terra Luna Classic (LUNC) past price analysis
Terra Classic (LUNC) fundamental analysis
Despite being affected by the collapse of UST, Terra Classic has much potential for growth in the future.
Currently, the price of LUNC is relatively low compared to the value of the chain, and its circulating supply is still small. This presents an opportunity for investors to get in on the ground floor and see significant returns in the future. However, it’s important to note that the outcome of ongoing investigations into the UST crash may impact the price of LUNC and its chances of a comeback. While the study may delay the massive price growth of the chain, it may also catalyze enormous growth if the outcome is positive.
It’s worth keeping an eye on the developments of Terra Classic and the stablecoin market.
Scalability
One of the critical features of Terra Classic is its ability to offer instant transactions at a significantly low cost. This is achieved through its staking and validation design, which helps to improve transaction throughput. Additionally, Terra has a short block time and allows for a limited number of validators, which leads to increased scalability.
The Terra Classic has recently undergone the Columbus 5 upgrade, promoting interoperability between Terra products and other blockchain networks. This allows for seamless integration and the ability to take advantage of the strengths of multiple blockchain networks. This is a significant step forward in the development of Terra Classic, as it allows for the creation of more complex DeFi products and services.
Overall, Terra Classic aims to make blockchain technology more accessible and user-friendly for everyday transactions. Its fast and affordable transactions, scalability, and interoperability make it a promising option for anyone looking to participate in the DeFi space.
Collaborations
The team behind Terra has established and maintained several partnerships over the years, which helps add integrity and credibility to the network.
Some of Terra’s past and present collaborations include partnerships with organizations such as the Bush Foundation, Child Neurology Foundation, Fetzer Institute, Generation Next, the institution of mathematics and applications, and the University of Minnesota, among others. These partnerships demonstrate Terra’s commitment to promoting blockchain adoption and working with many organizations to achieve this goal.
Partnerships with such reputable organizations are a positive sign for Terra Luna Classic (LUNA) and its future potential. Furthermore, it’s worth noting that partnerships can provide the blockchain network with a broader audience, resources, and expertise, which can help to develop the network further and bring new developments to the network.
What happened to Terra Luna?
After the Terra crash in May 2022, its founder, Do Kwon, launched a Terra Revival Plan, which introduced a new version of Luna called Luna 2.0 (LUNA). The older crypto version is now called Luna Classic (LUNC), and both versions of the Luna token can exist simultaneously. The term “classic” most likely refers to the hard fork of Ethereum and Ethereum Classic that occurred after Ethereum’s 2017 decentralized automated organization (DAO) breach, with Kwon positioning the UST crash as “Terra’s DAO hack moment.”
Terraform Labs developed Terra in 2018, founded by Do Kwon and Daniel Shin, to infuse the best features of fiat currencies and Bitcoin (BTC) into a price-stable coin. It is an open-source blockchain protocol for hosting a dynamic ecosystem of dApps and top-tier development tools. It uses a proof-of-stake consensus mechanism to carve a path for the next-gen DeFi experience.
In addition, Terra serves as a payment platform for an algorithmic stablecoin designed to track the price of a fiat (government-backed) currency. The native token, Terra (LUNA), is the staking and governance asset of the network. Users stake LUNA to earn a place in governance and become validators, earning rewards in the process. Users can also burn LUNA to mint Terra’s UST token or one tied to their local fiat. However, it’s important to note that while these stablecoins are pegged to the value of fiat, they’re not backed by it. Instead, the Terra Luna cryptocurrency is considered an algorithmic stablecoin. Terra Luna crypto’s chief role was to serve as a “counterpart” in absorbing the price fluctuations of Terra’s algorithmic stablecoin, TerraUSD (UST).
However, on May 9, the so-called stablecoin UST was unpegged after nearly 18 months of retaining its value against the US dollar. The decoupling created a chain reaction that led to the collapse of Terra LUNC cryptocurrency, UST, and Bitcoin, as well as the broader crypto sector, which has yet to recover fully. Therefore, it’s worth keeping an eye on the developments of Terra Luna Classic and the stablecoin market.
Terra Luna Classic’s (LUNC) price prediction for 2023
You have not selected any currency to displayAt the beginning of 2023, Terra Luna Classic (LUNC) experienced an increase in value, leading some crypto users to question whether the coin can reach a value of $1 and if it is a good investment. While LUNC did experience a growth of 5%, it is essential to note that the coin’s past performance and the current market conditions have led to a lack of trust in its potential among some users.
It is unlikely that LUNC will reach a value of $1 shortly. Predictions for the coin’s value vary, with some analysts forecasting a minimum value and others projecting a maximum value. It’s essential to keep in mind that cryptocurrency markets are highly volatile, and predictions are not always accurate.
Before making any investment decisions, it’s important to do your research, consult a financial advisor, and consider your risk tolerance. It’s also crucial to keep an eye on the developments of Terra Luna Classic and the broader crypto market. Finally, it’s important to remember that past performance is not necessarily indicative of future results.
This time two years ago, the original $luna was 84c with a m/cap of $1B. Remember what came after? It's coming back. #luna 🌕🚀🔥 pic.twitter.com/douTol2noh
— CJ 🌖 (@tweeterazzis) January 22, 2023
Terra Luna Classic’s (LUNC) price prediction 2025 – 2030
| Year | Minimum Price | Average Price | Maximum Price |
| 2023 | $0.000203 | $0.000237 | $0.000254 |
| 2024 | $0.000339 | $0.000373 | $0.000424 |
| 2025 | $0.000509 | $0.000542 | $0.000593 |
| 2026 | $0.000678 | $0.000712 | $0.000763 |
| 2027 | $0.000848 | $0.000881 | $0.000932 |
| 2028 | $0.001017 | $0.001051 | $0.001102 |
| 2029 | $0.001187 | $0.00122 | $0.001271 |
| 2030 | $0.001356 | $0.00139 | $0.001441 |
| 2031 | $0.001526 | $0.001593 | $0.001661 |
(Table sourced by Bitcoin Wisdom)
Telegaon predicts that the minimum and maximum prices of LUNC in 2025 will be $0.0089 and $0.028, respectively. After analyzing the previous performance of LUNC, other experts predict that its average price in the said year will be $0.015.
Coinpedia is, however, not so optimistic about the future of Luna Classic. It predicts that LUNC will be traded as high as $0.002846 and as low as $0.001094 in 2025. Its average price in the said year will be $0.001776. — Suzuki Shillsalot
At the beginning of 2023, Terra Luna Classic (LUNC) experienced an increase in value, leading some crypto users to question whether the coin can reach a value of $1 and if it is a good investment. While LUNC did experience a growth of 5%, it is essential to note that the coin’s past performance and the current market conditions have led to a lack of trust in its potential among some users.
It is unlikely that LUNC will reach a value of $1 soon. Predictions for the coin’s value vary, with some analysts forecasting a minimum value and others projecting a maximum value. It’s essential to keep in mind that cryptocurrency markets are highly volatile, and predictions are not always accurate.
Before making any investment decisions, it’s important to do your own research, consult a financial advisor, and consider your own risk tolerance. It’s also crucial to keep an eye on the developments of Terra Luna Classic and the broader crypto market. Finally, as always, it’s important to remember that past performance is not necessarily indicative of future results.
Telegaon also remains optimistic about the future of LUNC in 2030. It predicted that LUNC would be traded as high as $5.23 and as low as $1.93 in 2030, with its average price remaining at $3.11.
On the other hand, Bitcoin Wisdom predicted that LUNC’s price will keep oscillating between $0.002603 and $0.002834 in 2030. Its average price in the said year will be $0.002719, as per the prediction. — Suzuki Shillsalot
Guys there are 2 ways we can reduce #LUNC supplies & the 1st we can do #LUNCBURN & 2nd by staking them.
If you can burn $LUNC than stake them atleast you will help the #LUNACLASSIC chain also.
RT & Follow for more updates.#LUNCcommunity #LUNCARMY #USTC #LUNA $LUNC $LUNA $USTC pic.twitter.com/aCWT0YeSz8
— 🧩🐂Saqlain Ali🐂🧩 $BLOCK (@SaqlainAli888) January 25, 2023
Conclusion
Terra Luna Classic has been making some waves in the cryptocurrency market, and it will be interesting to see how it performs in the next few years. Of course, long-term prediction is always a difficult task. Still, it is worth noting that the price of LUNA can be influenced by factors such as adoption, network developments, and overall market sentiment. However, it is important to remember that all cryptocurrency investments are inherently risky, and investors should always do their research and consult a financial advisor before making any decisions.
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