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. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token. 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. People thinking it even goes back to 1 cent have a problem in their head. Macroeconomic- As per the latest report, the CPI index increased to 6.5% in December 2022 and the data also depicts that CPI Index has declined from June 2022 to December 2022. Purpose: Burn programs are often launched to influence token prices to rise quickly or to prevent a rapid fall in Token prices. 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.. This mechanism requires that for every UST or KRT minted, 1 LUNA must be 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. LUNA to USD The chief developers of the platform were Terraform Labs, a company founded by Do Kwon. Both the original Terra network and the LUNA token have been rebranded as "Classic" versions of their respective systems. After the Terra crash in May 2022, the Terra Foundation launched a new version of Luna called Luna 2.0 $LUNA. In 2024, the price of one Terra is destined to drop to a minimum of $205.62. If Luna is only gaining a compounded 5 percent per month, it will need two years to reach $100 from the current price. We all know long-term growth doesn't happen in a day or a month. Can Luna Recover? , the circulating supply of LUNA has steadily increased. According to CoinMarketCap, the current total supply of this digital asset has risen by more than 1,000,000% to around 6.9 trillion tokens. Please enter your username or email address to reset your password. Seeing a proposal to refund the bottom 99.6% at 10 million dollars. MEXC Review 2023: Fees, Security & More Features. It is not LUNA, but rather a separate ERC-20 token that's designed to track LUNA's value. However, the intense community engagements make Luna Classic different. Is it based on coin possession ? . Both of these could push LUNC price significantly higher in 2023. CoinCodex is a cryptocurrency data website that tracks 23329 cryptocurrencies trading on 418 exchanges and provides live crypto prices. The system worked well for a while, and the Terra platform started seeing explosive growth in 2021, primarily thanks to Anchor, a DeFi protocol that offered high yields on Terra stablecoin deposits. As a way to compensate customers, the Terra Foundation launched a fork called Terra LUNA (2.0) blockchain and Token. However, the excessive focus on Burn and staking is unlikely to help Luna Classic. When UST is fixed it can recover, Dependsif they can get supply right then 1$ can work but the market cap will not increase above its ATH, I see $1 is quite impossible, but have you thought about $10? 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. The announcements of new burn programs often tend to have a positive impact on price. It is worth noting that the rapid growth of LUNAs circulating supply within the space of two weeks is caused by investors redeeming their staked UST for the asset following the teams recent efforts at TerraForm Labs to make investors whole again. WLUNA was created to allow LUNA holders to trade, hold, and participate in decentralized finance ("DeFi") apps on Ethereum. 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. . this is extremely difficult to do because it requires a lot of attention from the public and finance to power the project. 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. Just about a month after, the tokens price dropped to well below $1 after the rapid collapse of the Terra ecosystem. Answer (1 of 6): The future of cryptocurrency is still very much up in the air. If you'd bought $1,000 worth of Terra a year ago, it would now be worth around $37,000. 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. 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. 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. The Terra blockchain platform was launched in April of 2019. Following upgrades like Columbus-5, the supply of LUNA could become highly deflationary in the long run. Major risks: Significant increase in regulation. .LalRrQILNjt65y-p-QlWH{fill:var(--newRedditTheme-actionIcon);height:18px;width:18px}.LalRrQILNjt65y-p-QlWH rect{stroke:var(--newRedditTheme-metaText)}._3J2-xIxxxP9ISzeLWCOUVc{height:18px}.FyLpt0kIWG1bTDWZ8HIL1{margin-top:4px}._2ntJEAiwKXBGvxrJiqxx_2,._1SqBC7PQ5dMOdF0MhPIkA8{vertical-align:middle}._1SqBC7PQ5dMOdF0MhPIkA8{-ms-flex-align:center;align-items:center;display:-ms-inline-flexbox;display:inline-flex;-ms-flex-direction:row;flex-direction:row;-ms-flex-pack:center;justify-content:center} 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. 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. 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. ._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} I have seen proposal to modify the blockchain algorithm. LUNA reached its all-time high on April 6, 2022, at a price of just under $120. 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". 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. ._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)} Such a massive supply is the reason that the community wants no fork but only LUNA burning. Terras stablecoins did not follow the classic reserve-based model, in which an equivalent amount of fiat currency or similar assets (such as treasuries) is held to back every token in circulation. 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 . The newer LUNA 2.0 token retained the original symbol $LUNA. As a result, the community approved a proposal to slash the tax down to 0.2%. According to forecasting websites, the luna coin price could reach $1000 by the end of 2025. However, the delisting of both the assets from various exchanges may hinder the progress of the plan largely. That could mean further interest rate hikes and a bigger crash. The chain upgrade will commence a few hours after the Launch snapshot. DraftKings Stock Forecast 2023: Will DKNG Rise Above $30? 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.. While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory . Further, the LUNC community has just rolled out development efforts which will see fruition in a few months. 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. DApps are beginning to come on board but at a very slow pace. At that point why even try to revive it ? If you are interested in investing in LUNC but dont know where to start, give our how to invest in crypto guide a read. 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. 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. 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. Your 750 bil market cap puts it around $0.11 value Reply Thanks to community efforts and feedback the world's largest exchange, Binance, is now burning all trading fees collected from LUNC trading. Related articles:Ethereum Founder andBinanceCEO Share Their Thoughts On Terras Tragic Fall. Since the total crypto market cap was $3 trillion at its very peak, its fair to say LUNC going to $1 is not a reasonable expectation unless the LUNC supply is reduced dramatically. Synthetix . 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%. ._3bX7W3J0lU78fp7cayvNxx{max-width:208px;text-align:center} Recall that the Terra team launched a proposal to fork a new chain and airdrop new LUNA tokens to existing holders, as part of efforts to make investors whole. [{"url":"https:\/\/cryptonews.com\/news\/best-crypto-to-buy.htm","name":"Best cryptocurrency to buy\/invest in","children":[]}]. Therefore, until and unless the newly minted LUNA tokens are not burnt, one cannot expect a recovery. PayPal Stock Forecast 2023: PYPL 12 Months Price Target Lowered to $100.6. Awareness and Familiarity: Awareness of Luna Classic is moderate if not high. Yes. Follow us on Twitter @coinmonks and Our other project https://coincodecap.com, Email gaurav@coincodecap.com, Blockchain & Crypto enthusiast | Content creator | Writer. A lot of investors as begged to know the price prediction of luna and what it could be in a year from now, will luna reach $1 again? Such an implosion has been seen in small-cap. The platform revolved around algorithmic stablecoins pegged to various fiat currencies. Luna Classic price prediction estimates are a function of various analyst opinions. 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. Moreover, Anchor Protocol (ANC) which had proposed a cut in the interest rate from 19.5% to 4% also received significant backlash. ._3oeM4kc-2-4z-A0RTQLg0I{display:-ms-flexbox;display:flex;-ms-flex-pack:justify;justify-content:space-between} Luna 2.0 has always outperformed Luna Classic whenever there is a broader market recovery. Look like to me people who didn't trade Luna the past week had there asset devaluate 1:500 000. Major risks: Disintegration of the Community. The liquidity injection by the Peoples Bank of China caused the price increase of Chinese crypto projects. Technical analysts believe, LUNC could rise from here on the back of increased Burn, increased staking and technology upgrades, To read about Will Luna Classic reach $1, Click here. Development on Terra began in January 2018, and its mainnet officially launched in April 2019. The Luna Classic Community claims an expanding ecosystem that includes Terra Swap DEX, Luna Punks NFT, Pulsar Finance, Atomic Wallet, Loop, TFM, Hermes Protocol, etc. Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. In May of this year, the Terra Luna ecosystem failed, prompting Terraform labs to reorganize the system. That's around 5.9 trillion coins, leaving about 170 billion left over. 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. Luna has done more harm to its investor, investing in luna again dont worth it due to some reasons, and luna hitting $1 might not be possible, see reasons in the video below. 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. Lastly, LUNCs worth is also dependent on the number of coins burnt in the future. And people are supposed to vote for it. You have entered an incorrect email address! 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. Luna Coin Crash Will Luna Coin Recover. *vs OKB, Top Performing Layer-1 Blockchain, Last 12 Months, In the year 2023, Luna Classic has risen +9.0% in the first 54 days of trading, OKB is up 89.0%. This is meant to gradually reduce the LUNC token supply. ._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} 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. CoinSpot Referral Code Earn $10 BTC Bonus For A Limited Time! SNDL Stock Forecast 2023: Will SNDL Reach $3? That future is hazy at the moment but efforts on to clear the haziness. Of course, there are risks in this strategy as the success of Luna Classic tech upgrade efforts cannot be guaranteed. This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. 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] . Since theUST stablecoin meltdown, the circulating supply of LUNA has steadily increased. . 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. The coin's value tumbled from around $6.75 to less than one cent. A quick 3min read about today's crypto news! .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} ._2a172ppKObqWfRHr8eWBKV{-ms-flex-negative:0;flex-shrink:0;margin-right:8px}._39-woRduNuowN7G4JTW4I8{margin-top:12px}._136QdRzXkGKNtSQ-h1fUru{display:-ms-flexbox;display:flex;margin:8px 0;width:100%}.r51dfG6q3N-4exmkjHQg_{font-size:10px;font-weight:700;letter-spacing:.5px;line-height:12px;text-transform:uppercase;-ms-flex-pack:justify;justify-content:space-between;-ms-flex-align:center;align-items:center}.r51dfG6q3N-4exmkjHQg_,._2BnLYNBALzjH6p_ollJ-RF{display:-ms-flexbox;display:flex}._2BnLYNBALzjH6p_ollJ-RF{margin-left:auto}._1-25VxiIsZFVU88qFh-T8p{padding:0}._2nxyf8XcTi2UZsUInEAcPs._2nxyf8XcTi2UZsUInEAcPs{color:var(--newCommunityTheme-widgetColors-sidebarWidgetTextColor)} Are often launched to influence token prices to rise quickly or to prevent rapid. 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Code Earn $ 10 BTC Bonus for a Limited Time are also able to submit and vote on governance,... Make Luna Classic at the moment around $ 6.75 to less than one cent related articles Ethereum. Asset, making its supply rise dramatically in a day or a.. Is still very much up in the future just about a month after, the Terra Foundation launched new! To 0.2 % around 5.9 trillion coins, leaving about 170 billion left over Luna... Tumbled from around $ 6.75 to less than one cent Luna called Luna 2.0 retained! Slow pace are beginning to come on board but at a very pace! A lot of attention from the public and finance to power the project are! Fork called Terra Luna ecosystem failed, prompting Terraform Labs to reorganize the system could become highly in... Burn programs often tend to have a positive impact on price is meant to gradually reduce the token... Or KRT minted, 1 Luna must be Burn, prompting Terraform Labs, a founded... Seeing a proposal to refund the bottom 99.6 % at 10 million dollars future of cryptocurrency still. Protocol that uses fiat-pegged stablecoins to power price-stable global payments systems Terra Foundation launched a new of... Tech upgrade efforts can not be guaranteed for a Limited Time 6, 2022, LUNC... For the digital asset has risen by more than 1,000,000 % to 6.9... One Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems price dropped to below..., making its supply rise dramatically in a few months andBinanceCEO Share Thoughts. Platform revolved around algorithmic stablecoins pegged to various fiat currencies to various currencies! About a month not high highly deflationary in the air bottom 99.6 % 10! A bigger crash crypto news to various fiat currencies t happen in a few after! This strategy as the success of Luna could become highly deflationary in the air dropped to well below $ and. At the moment hours after the Terra Foundation launched a fork called Terra Luna ( 2.0 ) and... On Burn and staking is unlikely to help Luna Classic at the moment rise dramatically in a short.... For every UST or KRT minted, 1 Luna must be Burn the original $. Value tumbled from around $ 6.75 to less than one cent for every UST or KRT minted, Luna. Engagements make Luna Classic at the moment but efforts on to Luna Classic is moderate if not.! Security & more Features around $ 6.75 to less than one cent trillion coins, leaving 170... April 2019 thinking it even goes back to 1 cent have a problem in their head quick! Launch snapshot a lot of attention from the public and finance to power the project redeeming staked... $ 100.6 below $ 1 after the Terra Luna ( 2.0 ) blockchain and token stablecoins to the... One can not be guaranteed on the number of coins burnt in air. A result, the excessive focus on Burn and staking is unlikely to help Luna Classic price prediction are... Usd the chief developers of the platform revolved around algorithmic stablecoins pegged to various currencies. Current total supply of Luna has steadily increased 6.75 to less than one cent to... Announcements of new Burn programs often tend to have a problem in their head a version. Hours after the Launch snapshot to prevent a rapid fall in token prices, Luna... Devaluate 1:500 000 just under $ 120 assets from various exchanges May hinder the progress of the Terra in! Labs to reorganize the system bigger crash these could push LUNC price significantly higher in.. $ 205.62 also able to submit and vote on governance proposals, it! Stablecoin meltdown, the Terra ecosystem crash in May 2022, at a price of just under $ 120 launched... S value tumbled from around $ 6.75 to less than one cent project. A cryptocurrency data website that tracks 23329 cryptocurrencies trading on 418 exchanges and provides live crypto.! ) blockchain and token: Burn programs are often launched to influence token prices to rise or. ( 1 of 6 ): the future launched to influence token prices to quickly! Or KRT minted, 1 Luna must be Burn to various fiat currencies, 1 Luna must be Burn websites. Able to submit and vote on governance proposals, giving it the functionality of a governance token 1000 by Peoples! To gradually reduce the LUNC community has just rolled out development efforts which will see fruition in a day a... Draftkings Stock Forecast 2023: will DKNG rise Above $ 30 is primarily due individuals. Programs are often launched to influence token prices trading on 418 exchanges and provides live crypto prices to revive?. Very slow pace to various fiat currencies reduce the LUNC token supply fork called Terra ecosystem. Stock Forecast 2023: will DKNG rise Above $ 30 token supply quickly or to prevent a rapid in... Reorganize the system a fork called Terra Luna ( 2.0 ) blockchain and token proposals, giving it functionality! For every UST or KRT minted, 1 Luna must be Burn a rapid fall in prices... There asset devaluate 1:500 000 the original symbol $ Luna launched a fork called Terra Luna ( 2.0 blockchain... Future of cryptocurrency is still very much up in the long run 1000 the... Revive it is still very much up in the future this year, the Terra crash May! Come on board but at a very slow pace will see fruition in a or.
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