Will Luna Classic Reach 1 Cent?

Will Luna Classic Reach 1 Cent?

Will Luna Classic reach 1 Cent? Yes, Luna Classic will reach 1 cent some years from now. LUNC will have to rise 55 times from the current price to reach 1 cent.


Latest Luna Classic Price

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 it is being run by LUNC Community also known as Terra Rebels.

The Lunc community has been working together to push the price above $1 but the very first challenge for the LUNC Community will be to push the price of Luna Classic to 1 cent.

Recent Performance of LUNC

  • 1 Month: +7.9%
  • 3 Months: -30.7%
  • 6 Months: +74.0%

Will Luna Classic Reach 1 Cent: Triggers

Before discussing the factors that could drive LUNC to 1 cent, here are the past performance of a few well-known cryptos:

Bitcoin rose 1400 times higher in 10 years
Ethereum rose 166 times higher in 6 years.

To reach 1 cent, Lunc Classic must rise 54 times higher.

Factors

  • Macroeconomic Factors: The macroeconomic factors have widely influenced the crypto market. The Ukraine-Russia War, US Fed’s Rate Changes, and China banning Cryptos have been a few major factors influencing the crypto market this year. Once there is an improvement in the market condition we may see LUNC prices rising higher.
  • Leadership: Lunc is Governed by the Luna Classic community. Ed Kim, Zaradar, LUNC Dao, and numerous influencers have been leading the community and have been formulating and implementing execution plans.
  • Development and Execution Plans: The success of LUNC will completely depend upon how the plans are executed. Ed Kim and Terra Rebels have been formulating plans for the future of Luna Classic but the execution of these plans will determine the success of Luna Classic. Luna Classic recently voted for infra and tech upgrades.
  • Demand: The demand of LUNC will be one important factor that could push the price to 1 cent. The community should be focused to find ways to increase the demand for LUNA Classic.
  • LUNC Burn: One of the biggest issues with LUNC is its supply. For LUNC to rise higher, it will have to burn the maximum number of LUNC tokens. Recently Binance implemented an on-chain burn mechanism. Binance burns 0.2% of the total value for every Luna Classic transaction on its exchange.
  • Sustaining current momentum: Despite the price of Luna Classic falling, the LUNC Community has been focused and has continuously worked to keep the price of Luna Classic higher. The community will have to sustain this momentum and work to bring in new developments.

Will Luna Classic Reach 1 Cent? The Math

Luna Classic can reach 1 cent in the future. However, for LUNC to reach 1 cent different factors determining the price rise will have to turn in favor of Luna Classic. Only burning Luna Classic tokens may not be enough for it to reach 1 cent.

LUNC Gains 25% annually: Assume the LUNC price rises 25% a year. This growth is under the assumption that 50% of the coins are burnt during this period, the number of years to reach 1 cent – 18 Years

LUNC Gains 50% annually: If Luna Classic gains 50% annually, it will take 10 years from now to reach 1 cent.

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What are the Concerns around Luna Classic?

Luna Classic has been functioning as an independent unit under the Terra Rebels. Ed Kim has been formulating future plans of action for Luna Classic. But it is highly unclear which direction will Luna Classic take and which section of blockchain will it look to dominate.

Luna Classic has no definitive leadership structure. Though Bitcoin also lacks well-designed leadership architecture for LUNC it will be difficult to survive without leadership.

Will Luna Classic Reach 1 Cent? Conclusion

With the current momentum, it is unlikely for Luna Classic to reach 1 cent in 2023. However, they are higher chances of LUNC reaching 1 cent in near future. 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.

Will Luna Classic Reach 1 Cent
Nitesh Singh

Nitesh Singh

Nitesh is primarily focused on political analysis and creates political opinions based on data. He also takes interest in writing Crypto articles mostly related to price predictions.

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