Terra Luna Classic’s price at the same time last week was $0.000088.It has moved by -3.31% in the past week and is currently at $0.000091.Infact, in the past 24 hours, LUNC has pumped by 2.12%.There is a slight bearish sentiment in the crypto market.The long term sentiment, However, remains bullish and LUNC could hit $0.00029 in 2024.
Terra is an open-source blockchain protocol for hosting a dynamic ecosystem of dApps and top-tier development tools.Terra’s blockchain carves a path for the next-gen DeFi experience by harnessing a proof-of-stake consensus mechanism.In addition to this, Terra is also a payments Platform for an algorithmic stablecoin designed to chase the price of a fiat (government-backed) currency.
Terra was developed by Terraform Labs in 2018.Do Kwon and Daniel Shin founded this South Korea-based lab to infuse the best features of a fiat currency and Bitcoin [BTC] into a price-stable coin.The Terra protocol’s native token is mainly used for staking.Apart from this, it can also be used for governance that allows users to make changes to the Terra protocol.
After its 2018 launch, the altcoin’s chief role was to serve the purpose of a ‘counterpart’ In absorbing price fluctuations of Terra’s algorithmic stablecoin, terraUSD (UST).Post an attack which exploited a loophole in the blockchain’s protocol, UST failed to aptly mint and burn its tokens to create a balance of its demand and supply at the $1 peg.Subsequent to losing its dollar peg, UST witnessed a catastrophic [almost 100%] Loss of value, one that has gone down the history of major crypto-collapses.The resultant events led Do Kwon to rev up the revival efforts.
In doing so, he proposed a hard fork for which the majority of the community members voted in favor.Thus, two Terra blockchains would now function parallelly: The original Terra blockchain with the token re-branded to ‘Luna Classic (LUNC)’ from ‘LUNA’ A newly launched blockchain protocol with its native token called ‘LUNA’ LUNA was ranked the seventh-largest crypto by market capitalization at some point this year.
After the most recent turn of events, LUNC’s ranking is well above 200.As we saw above, Terra’s breakdown propelled the creation of a new chain while the old chain was renamed ‘Terra Classic (LUNC)’.On the flip side, the aim of Terra 2.0 would be to inherit all the protocols and applications of the former network.This, however, does Leave us with the question of LUNC’s functional or practical utility in the coming times.Terra community reflected robust comeback inclinations as they keep their hopes alive amid LUNC’s burn process.So far, the broader sentiment toward this restructuring plan has Turned out to be quite positive, as evidenced by >170% weekly gains towards the end of August.
What does LUNC’s road ahead look like? Despite the recent crumbling of its network, LUNC’s community is exhibiting promising signs of revival as ‘#LUNCcommunity’ has been trending on Twitter.The community has aided the coin’s recovery by passing critical proposals on LUNC’s burn in the hope to recoup the losses of the previous meltdown.While Do Kwon and his team focus on the developmental aspects of Terra 2, Luna Classic would be run by its community.In the wake of increasing traction towards Positive sentiment among the community, LUNC’s price could keep rising in the coming months.
The rising social dominance, especially during the start of this month aided the coin in testing the $0.000517-resistance before facing some selling pressure.Nonetheless, with Bitcoin facing serious sell pressure over the last week, the broader market Sentiment has taken a toll.
It would be interesting to witness how LUNC’s social dominance would play out to ultimately affect its perception in investors’ minds.The community is now implementing a 1.2% burn tax on all of LUNC’s transactions (that includes Buying and selling).
These efforts could put LUNC in a better position to reverse the previously caused damages due to over-minting.This simply means that 1.2% of all LUNC tokens exchanged for a given value will be destroyed at the time of the transaction.This burn’s ultimate aim would be to bring Down the LUNC’s supply from 6.5 trillion to 10 Billion.
While this mechanism creates a clear path for a decrease in supply, the corresponding demand could also see a substantial rise in the coming times.All in all, the value of the digital asset is still significantly down from where it Was trading before the crash, but a sustained burn could help recover some of those losses.It will be the validators who reduce the supply and repair the damage.Optimism is quite evident, however, especially from the triple-digit gains in social mentions and engagement, as seen on LunarCrush.With Exchanges like Binance and KuCoin showing their willingness to support the above burn, LUNC has seen promising revival signs.This could in turn encourage more exchanges to exhibit well-needed support for the community’s recouping endeavours.Finally, the culmination of improved social perception alongside LUNC’s burn mechanism Plan has set a solid foundation for the altcoin’s near-term growth prospects.
Also, sustained support from top exchanges would help LUNC ramp up the trading volumes to sustain its bull run in the months to come.Terra Luna Classic (LUNC) Price Analysis Post some downward movement in November 2022, LUNC witnessed an uptrend.The primary resistance and support levels have been at $0.000181 and $0.000172.LUNC Daily Chart On the daily chart, LUNC fell from $0.000259 to $0.000148 in November 2022.However, some northbound movement was seen in mid-December, with the price going up to $0.000184.Since LUNC has been on an uptrend, the Relative Strength Index (RSI) has been above the neutral 50 line, and the On-Balance Volume (OBV) has been ascending, providing more scope for bulls in the market.Additionally, on the lower time frame (6-hour chart), $0.000237, $0.000226, and $0.000198 resistance levels were found above the $0.000184 level in November 2022.
Should you consider buying LUNC? Considering the relentless efforts of the LUNC community to decrease the token’s supply and uphold its value in their minds, LUNC definitely has bright futuristic prospects.The technical front for the coin depicted an increasing buying edge.However, one must bear in mind the risks associated with investing In a project that has been subjected to a major mishap.
Should the coin fall prey to pump-and-dump schemes, the price could tumble down in the coming sessions.Terra Luna Classic Price Prediction Terra Luna Classic has had an eventful 2021.To simplify the latest LUNC price prediction, We have divided up the prediction by short term Terra Luna Classic price prediction and long term Terra Luna Classic price prediction.
At the time of recording, LUNC had a trading volume of $37,835,997.Terra Luna Classic has gone up by 5.09% in the past 30 days.According to our analysis in the short term, Terra Luna Classic price prediction for August 2023 shows the average price of LUNC at $10.41 and the highest possible price for August 2023 would be $11.14.Further, according to our analysis in the long term, Terra Luna Classic price prediction For December 2023 shows the average price of LUNC at $10.41 and the highest possible price for December 2023 would be $11.14.Terra Luna Classic’s Short Term Price Prediction Terra Luna Classic price prediction 22 Jun 2023: Terra Luna Classic’s price for 22 Jun 2023 according to our analysis should range between $1.08 to $1.25 and the average price of LUNC should be around $1.17.
Terra Luna Classic price prediction 23 Jun 2023: Terra Luna Classic’s price for 23 Jun 2023 according to our analysis should Range between $1.12 to $1.29 and the average price of LUNC should be around $1.20.Terra Luna Classic price prediction 24 Jun 2023: Terra Luna Classic’s price for 24 Jun 2023 according to our analysis should range between $1.22 to $1.40 and the average Price of LUNC should be around $1.31.Terra Luna Classic price prediction 25 Jun 2023: Terra Luna Classic’s price for 25 Jun 2023 according to our analysis should range between $1.41 to $1.62 and the average price of LUNC should be around $1.52.Terra Luna Classic price prediction 30 Jun 2023: Terra Luna Classic’s price for 30 Jun 2023 according to our analysis should range between $2.84 to $3.27 and the average price of LUNC should be around $3.06.
Terra Luna Classic price prediction 5 Jul 2023: Terra Luna Classic’s price for 5 Jul 2023 according to our analysis should range between $4.30 to $4.95 and the average price of LUNC should be around $4.62.Terra Luna Classic price prediction 15 Jul 2023: Terra Luna Classic’s price for 15 Jul 2023 according to our analysis should range between $7.49 to $8.62 and the average price of LUNC should be around $8.05.
Terra Luna Classic price prediction August 2023: Terra Luna Classic’s price for August 2023 according to our analysis should range Between $9.68 to $11.14 and the average price of LUNC should be around $10.41.Terra Luna Classic price prediction September 2023: Terra Luna Classic’s price for September 2023 according to our analysis should range between $9.68 to $11.14 and the average price of LUNC should be around $10.41.
Terra Luna Classic price prediction October 2023: Terra Luna Classic’s price for October 2023 according to our analysis should range between $9.68 to $11.14 and the average price of LUNC should be around $10.41.Terra Luna Classic price prediction November 2023: Terra Luna Classic’s price for November 2023 according to our analysis should range between $9.68 to $11.14 and the average price of LUNC should be around $10.41.Terra Luna Classic price prediction December 2023: Terra Luna Classic’s price for December 2023 according to our analysis should range between $9.68 to $11.14 and the average price of LUNC should be around $10.41.Terra Luna Classic’s Long Term Price Prediction Terra Luna Classic’s long term Price Prediction below is a look at LUNC’s future prospect with regards to price.
Terra Luna Classic was last seen at $0.000091, with a market cap of $536,201,181 and trading volumes of $37,835,997.LUNC’s price prediction is possible by analyzing historical price action, Current developments and social sentiment from the community.Terra Luna Classic price prediction 2023: Terra Luna Classic’s price for 2023 according to our analysis should range between $8.33 to $12.49 and the average price of LUNC should be around $10.41.Terra Luna Classic price prediction 2024: Terra Luna Classic’s price for 2024 according to our analysis should range between $0.00019 to $0.00029 and the average price of LUNC should be around $0.00024.Terra Luna Classic price prediction 2025: Terra Luna Classic’s price for 2025 according to our analysis should range between $0.00026 to $0.00039 and the average price of LUNC Should be around $0.00032.Terra Luna Classic price prediction 2026: Terra Luna Classic’s price for 2026 according to our analysis should range between $0.00034 to $0.00052 and the average price of LUNC should be around $0.00043.Terra Luna Classic price prediction 2027: Terra Luna Classic’s price for 2027 according To our analysis should range between $0.00045 to $0.00068 and the average price of LUNC should be around $0.00057.Terra Luna Classic price prediction 2028: Terra Luna Classic’s price for 2028 according to our analysis should range between $0.0006 to $0.0009 and the average price of LUNC should be around $0.00075.
Terra Luna Classic price prediction 2029: Terra Luna Classic’s price for 2029 according to our analysis should range between $0.0008 to $0.0012 and the average price of LUNC should be around $0.001.Terra Luna Classic price prediction 2030: Terra Luna Classic’s price for 2030 according to our analysis should range between $0.001 To $0.0015 and the average price of LUNC should be around $0.0013.Terra Luna Classic price prediction 2031: Terra Luna Classic’s price for 2031 according to our analysis should range between $0.0013 to $0.002 and the average price of LUNC should be around $0.0017.Terra Luna Classic price prediction 2032: Terra Luna Classic’s price for 2032 according to our analysis should range between $0.0018 to $0.0027 and the average price of LUNC should be around $0.0023.
Terra Luna Classic price prediction 2033: Terra Luna Classic’s price for 2033 according to our analysis should range between $0.0024 to $0.0036 and the average price of LUNC should Be around $0.003.Terra Luna Classic price prediction 2034: Terra Luna Classic’s price for 2034 according to our analysis should range between $0.0032 to $0.0048 and the average price of LUNC should be around $0.004.What do you think of it? What’s your prediction? Leave your opinion in a comment section! Also Don’t forget about daily giveaway were you can win 50,000 luna classic tokens.All you have to do is to be subscribed, leave a like and leave a comment #terraluna.Things are gonna get real flashy.EXPERTS JUST PROVED $10.00 TERRA LUNA CLASSIC IS REAL!!! (PREDICTION) – LUNC NEWS TODAY ✉️ Contact Crypto Millionaire (Channel`s owner): 🤫 [[email protected]](/cdn-cgi/l/email-protection) 🤫 https://t.me/veeqyt 🤫 https://www.instagram.com/mycryptomillionaire/ Disclaimer: All videos are provided for informational purposes only.Nothing contained herein should be construed as an offer, solicitation, or recommendation to buy or sell any investment or security or to provide you with an investment strategy.
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