Will Luna Classic Reach $1, 1 Cent, $10, $100?

Article Coverage: Luna Classic Price Performance, Latest News Updates, Will Luna Classic reach $1 Analysis, Will Luna Classic reach 1 Cent Analysis, Triggers and Barriers, Risks and Concerns

In May 2022, when Terra Foundation’s stablecoin UST lost its peg, Terra Luna crashed from close to $100 to below $1. Since then Terra Luna has been rebranded as Luna Classic and LUNC Community is running it. The Lunc community has been working together to push the price above $1, but the first challenge for the LUNC Community will be to push the price of Luna Classic to 1 cent.

LUNC Price Performance so far

*Last 7 Days*	+5.1%
*Last 1 Month*	-22.7%
*Last 12 Months*	+14.1%

Luna Classic, Buy or Sell?

Net Buy Rating = Buy% – Sell%

July 1st: +35.0%
Dec 1st: +48.0%
Jan 1st: +32.0%
Feb 1st: +38.0%
March 1st: +45.0%
April 3rd: +42.0%
May 1st: +38.0%
May 9th: +30.0%

I sold my 10000 LUNC tokens and just purchased 1000 units of Bittensor Tao and 100 units of Chainlink for my portfolio. Check out my portfolio here. I now hold around 5000 LUNC tokens.

Luna Classic News and Burn Statistics

Do Kwon’s Attorneys Propose $437K Bail

Lawyers representing Terraform Labs founder Do Kwon have suggested supervised bail for him as he confronts charges in Montenegro related to alleged attempts to travel with falsified documents. The proposed bail amount for each of the two Korean nationals, who are currently detained, stands at 400,000 euros ($437,000). The court is yet to make a decision on the proposal, with the next trial scheduled for June 16th.

LUNC Burn Stats:

Total LUNC Burn (Since May 13, 2022): 113.15 B
Lunc Burned On-Chain: 43.53 B (38% of the total burn)
Lunc Burn Wallet: 69.62 B (62% of the total burn)

Read Influencer Crypto Recommendation Report 2024 for Free

The Terra Classic $1 Dream: The massive Luna Classic community, as well as potential investors, are keen on knowing how high will Luna Classic price rise and specifically if Luna Classic could ever breach $1. Given the sentiments behind the Luna crash in May, this is also of some emotional value.

So Will Luna Classic reach $1? Let us analyze

No, Luna Classic cannot reach $1 even if a larger portion of the Tokens are Burnt

To reach $1, LUNC will need to rise 9,572x. At $1, the target market cap will be approximately $5.80 trillion. If LUNC were to rise at the pace of 25%, it will take approximately 42 years to reach $1.

Given that Luna Classic is a weak case for Investment, Let us analyze these in detail. Bitcoin rose 1400 times higher in 10 years Ethereum rose 166 times higher in 6 years. Both BTC and ETH rose in very different conditions while Luna Classic is in an environment where there are more than 50 tokens with a Market Cap of a Billion.

Is it possible for Luna Classic to reach twice Apple’s Market Cap?

Luna Classic is not an innovator of the Apple mold nor are their services consumed by billions of people worldwide. We can say with a high degree of confidence that Luna Classic will not reach a market cap of $5.8 Trillion.

Can we Forecast accurately for 42 years that a Token will grow at 25% every year?

No, no one can forecast the price of a Token 42 years from now. Further, no Token or stock can grow at the rate of 25% every year for 40 years.

Considering Growth, Market Cap, and Time factors, we can say confidently that Luna Classic will not reach $1.

Now, let us consider a scenario where 90% of the coins are burnt. If 90% of the Tokens were burnt, To reach $1, Luna Classic must rise 5556 times. At $1, the Market Cap of Luna Classic would be $580 Billion. If LUNC’s price were to grow at 25% every year, it would take Luna Classic 39 years to reach $1.

So, even in a 90% Burn scenario, Luna Classic will find it impossible to reach $1. The only hope for a healthy return on Luna Classic Investment is unique and differentiated use cases.

Will Luna Classic Reach 1 Cent? The Math

Yes, Luna Classic can reach 1 cent if 75-90% of the Coins are burnt

For LUNC to reach 1 cent, it would need to increase by a factor of 98. At 1 cent, Luna Classic’s Market Cap will be $58.3 Billion. If LUNC were to grow at a rate of 25% each year, it would take about 20 years to reach 1 cent. Let us evaluate this data

Quality of Investment– Moderate
Growth required to reach 1 cent– Not Feasible
Market Cap at 1 cent– Not Feasible

Considering the criteria Quality of Investment, growth required, and time required, LUNC has no chance of reaching 1 cent.

However, with 90% of the Tokens burnt, the market cap requirement falls to $58.2 B which is quite feasible given that the current Market Cap is $1 B.

Read:

Will Luna Classic Reach $1, 1 Cent: Triggers and Barriers

Terra Luna Classic (LUNC) is a cryptocurrency governed by the Luna Classic community. The success of LUNC is dependent on the execution of its development plans, which include infrastructure and technology upgrades. This in turn will drive up the demand for Luna Classic Tokens. Secondly, to increase the price of LUNC, its supply must be reduced through the burn mechanism implemented by Binance.

There are numerous concerns around the Terra Luna Classic

Luna Classic has no definitive leadership structure. Though Bitcoin also lacks a well-designed leadership architecture for LUNC it will be difficult to survive without leadership.
A large number of volunteers have contributed over the year but internal politics and even attempts to defraud have been problematic
As a consequence, it is unclear what is the vision around Terra Luna Classic. Will they remain DeFi-focused? Will they differentiate from other major players like ETH and XRP?
Community efforts have completely focussed on the Luna Classic Burn tax rather than the direction of LUNC itself

What is Terra Luna Classic?

Terra Luna Classic was relaunched in May 2022 as Luna Classic (LUNC) after Terra Foundation’s UST stablecoin collapsed. In response to the crisis, Terra Foundation introduced a new blockchain and token, Terra LUNA (2.0), and rebranded the original LUNA token as Luna Classic, giving greater control to its community. The value proposition of LUNC is currently limited, primarily sustained by its community and an aggressive token burn program. However, LUNC is undergoing technological improvements, which might improve its investment profile.

Factors influencing Luna Classic’s price include use cases, macroeconomic conditions, and competition from other cryptocurrencies. The expansion of use cases is slow, and the ecosystem is relatively thin compared to its previous stature in the DeFi space. Strong community support is a plus, but challenges include emerging tokens with better use cases, the limited impact of the burn program, community conflicts, and the need to attract top DApps and creators amidst stiff competition.

Will Luna Classic Reach 1 Cent? Conclusion

With the current momentum, it is unlikely for Luna Classic to reach 1 cent in 2024. However, there are higher chances of LUNC reaching 1 cent in the next few years. LUNC may reach 1 cent even before Shib Inu. Considering the mathematical calculation, LUNC may reach 1 cent in the next 11 years provided the price rises 50% annually.

Note: Please consult a registered investment advisor to guide you on your financial decisions.