Luna Classic Price Prediction 2023-2030

Article Coverage: Luna Classic Performance, Latest Luna Classic News, Luna Classic Technical Analysis, Luna Classic Price Prediction Today, Luna Classic Price Prediction 2023-2030, Analysis of Luna Classic Burn Program, Is Luna Classic a Good Investment?

Luna Classic Price Live

LUNC which is the old Terra Luna has outperformed most cryptocurrencies since its relaunch in late May. However, LUNC price has struggled after the on-chain Burn tax was implemented in September 2022.

LUNC Price Performance so far

Last 7 Days	+74.9%
Last 1 Month	+214.2%
Last 12 Months	+26.5%

Latest Luna Classic News and Analysis

Latest Luna Classic News

• Do Kwon, the founder of Terraform Labs, is set to be extradited to the United States to face charges related to the 2022 crash of his cryptocurrencies, TerraUSD (UST) and Luna (LUNA). Do Kwon was arrested in Montenegro in March 2023. He was accused of possession of forged travel documents. He attempted to board a private jet to Dubai using a fake Costa Rican passport. This triggered his arrest and subsequent discovery of additional forged documents, including a Belgian passport.
• The Terra Classic community has voted in favor of a proposal to cut the validator set from 130 to 100. This change aims to address the issue of low entry barriers for validators on the Terra Classic network. Currently, the last validator at the 113th place holds only 1.86M LUNC, indicating that setting up a validator requires minimal effort.

Read our detailed technical analysis later.

Luna Classic Trading Volume, Last 3 Quarters

The average trading volume of Luna Classic in December is the highest in more than a year. It has also surpassed the trading volumes of Luna 2.0 and Shiba Inu.

• Luna Classic: July-Sep: $24M, Oct-Nov: $91M, Dec: $682M
• Luna 2.0: July-Sep:$44M, Oct–Nov: $94M, Dec: $359M
• Shiba Inu: July-Sep: $161M, Oct-Nov: $151.0M, Dec: $276M

Terra Classic (LUNC) Burn Data

• As per the Coinmarketcap data, the total Luna Classic supply is 6,832,795,932,996 LUNC while the circulating supply stands at 5,804,323,516,404 LUNC. One year ago, the circulating supply was 6.15 Trillion tokens (Source: Coinmarketcap).
• Total tokens removed from circulation since May 13, 2022: 84.70 billion.
• LUNC Burned On-Chain: 31.03 B which is 36% of Total Burn. LUNC added to the Burn Wallet 53.67 B which is 64% of the Total.
• Lunc Metrics Data: LUNC tokens burned in the last 7 days: 5.66 B which is around 808,355,347 LUNC per day.

Luna Classic, Buy or Sell?

Net Buy Rating = Buy% – Sell%

• July 1st: +35.0%
• Sept 1st: +37.8%
• Nov 1st: +36.7%
• Dec 1st: +48.0%
• Dec 8th: +47.0%

Terra Luna Classic Price Predictions

The Luna Classic Community has aspirational questions like Will Luna Classic reach $1 or $10? However, a more pragmatic view is required both from a technical and use cases point of view. Firstly, the daily predictions.

Luna Classic Price Prediction Today, Tomorrow and Week

• Luna Classic Price Prediction in the next 24 hours is between $0.000194 and $0.000211
• Luna Classic Price Prediction this week is between $0.000170 and $0.000259

Luna Classic Technical Analysis Today

Luna Classic has failed to recover after the rejection below $0.00025. LUNC is currently holding above $0.00020 but the buyers have not been able to propel the Luna Classic price higher. The absence of bulls has kept the Luna Classic price within a narrow range of $0.000190 and $0.00021.

On the 4-hour timeframe technical chart, the 50-day MA of LUNC is at $0.0001842 while the long-term moving average that is the 200-day MA is $0.00010609. The current price of Luna Classic is above both the 50-day and the 200-day moving averages. From the technical point of view, this is considered to be a bullish indication.

But it is not a confirmation of a bull run or positive price movement. As the sellers have been in control, LUNC has been on the downtrend which suggests that the current momentum of Luna Classic is bearish. The buyers will need to defend the $0.00020 support else the sellers will get an opportunity to drag the Luna Classic price below $0.00020. The 50-day could thereby serve as a potential support for the asset.

The Relative Strength Index of the asset further confirms the negative outlook prevailing in the market. The RSI after a consolidation within the overbought zone reversed and fell below 70.0. The RSI remains above 50.0 but with the sellers outnumbering the buyers, the RSI is expected to fall further. The RSI reading at the time of writing is 50.39.

The market sentiment surrounding Luna Classic is now negative. On the Fear and Greed chart, the F&G indicator bars have increased on the Fear zone. Added to it, the momentum oscillator is oscillating within the bearish axis.

On the MACD chart, the MACD line is below the signal line, and the red histogram bars have increased on the negative axis. This is a sell signal.

Considering the technical indicators on the 4-hour timeframe chart, the current outlook of LUNC is bearish.

Luna Classic Price Prediction 2023-2030, Aggregated

LUNC Price forecast estimates are a function of various analyst opinions. These estimates are based on certain assumptions

• The recent performance of Luna Classic
• Coins likely to be burnt through on-chain Burn Tax
• Macroeconomic conditions
• Execution of plans
• Likely Ecosystem growth

The macroeconomics picture is likely to improve in the first half of 2024. We expect Substantial improvement in both coin dynamics and macroeconomics in 2025. This should drive the price of Luna Classic significantly higher. But Regulatory headwinds could keep the price rise in check. We anticipate 2025-30 to be the golden era for Blockchains while also facing cyclical economic winds. Still, LUNC could rise significantly higher by 2030.

Here are Aggregated Terra Luna Classic Price predictions until 2030

• Luna Classic Price Prediction 2023 is $0.000273
• Luna Classic Price Prediction 2024 is $0.000354
• Luna Classic Price Prediction 2025 is $0.000441
• Luna Classic Price Prediction 2026 is $0.000516
• Luna Classic Price Prediction 2027 is $0.000639
• Luna Classic Price Prediction 2028 is $0.000886
• Luna Classic Price Prediction 2029 is $0.00151
• Luna Classic Price Prediction 2030 is $0.00181

Luna Classic Price Prediction: Is Terra Luna Classic a Good Investment?

Terra Luna Classic, formerly known as the LUNA token, was launched in May 2022 after the crash of Terra Foundation’s UST (Stable Coin). To compensate customers, Terra Foundation launched a fork called Terra LUNA (2.0) blockchain and Token. LUNA token was rebranded as Luna Classic or LUNC, and much of the control was handed over to the LUNC community. The newer LUNA 2.0 token retained the original symbol $LUNA.

While awareness of Luna Classic is moderate, it is backed by a strong community, and their involvement has been integral to the coin’s revival. Luna Classic has some use cases, but there aren’t too many apps being developed on Terra Classic’s blockchain. The top active projects on Terra Classic include Terra Swap, Metagloria NFT, Eris Protocol, Terra Rebels Moonshot, and P2P Lunc Dispute. 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. Many of these are not active on Terra Classic.

At the moment, aside from community and an aggressive burn program, there is little to differentiate LUNC from other tokens. While this is a good starting point, it is not enough to warrant a great case for investment. LUNC is currently in the middle of tech improvements and upgrades, which could classify it as a moderate case for investment. Terra Luna Classic heavily depends on the community to continue its success, but it needs other investors to move the price higher. For that to happen, the Terra Luna Classic blockchain will have to host a variety of apps and improve the lives of consumers and businesses.

Luna Classic Price Outlook: Factors that will play a role in 2023-2024

Macroeconomic- US Interest rate hikes are likely to end later this year and some rate cuts may even begin by the middle of next year, the earlier the rate cuts, the better for Luna Classic

Competition- LUNC has made gradual progress this year during which numerous other cryptocurrencies have moved ahead. This will continue to be a big factor going forward.

Use case expansion- The original LUNA was a major player in the DeFi space with Billions of Dollars of Total Value Locked. The current LUNC ecosystem is thin or non-existent. DApps are beginning to come on board but at a very slow pace. There isn’t much to differentiate itself from other cryptocurrencies either.

Strong Community-The Luna Classic community has proven itself to be extremely resourceful in getting things done

Reasons to Sell Luna Classic

Emerging Tokens: Numerous Tokens are improving use cases and are better funded and organized than Luna Classic. The returns are way better and the hassles lower

Post Burn Struggle: Ever since Burn was implemented, LUNC has consistently underperformed other coins. While it is fair not to attribute it to Burn alone, the fact is also that many of the other Tokens have hardly done anything of value during the same period but gained on account of Market Level Pumps

Developments don’t guarantee Success: Even if all Dev plans are implemented, LUNC still needs to attract the best Dapps and Creators on the blockchain. It will be extremely difficult given the intense competition at the moment. Ethereum, Polygon, ImmutableX, Tron, BSC, Solana, etc are better placed given that they are better organized than Luna Classic

Community Conflict: Unlike the Shiba Inu community, the LUNC community is constantly in Strife. This has a direct impact on the blockchain itself. LUNC also relies on a few developers who may or may not hang around to complete the job. The risks are relatively higher than other Tokens.

Luna Classic Price Projections: Impact of Burn Program

What is a Burn Program?

Purpose: Burn programs are often launched to influence token prices to rise quickly or to prevent a rapid fall in Token prices. By reducing the number of Tokens in circulation, the value of the remaining Tokens should rise assuming the Market Cap is constant. There are a variety of burn programs but most eventually involve sending tokens to an address with no known private key.

Do Burn programs have an impact on price? The announcements of new burn programs often tend to positively impact prices. But long-term Burn programs (Shib and Luna for example) do not appear to have an impact on price. For example, the Luna classic on-chain tax has had no visible impact on price and while Luna classic outperformed Luna before the Tax was implemented, both the tokens are underperforming after the tax was implemented. The other issue is that many of these Burn programs are not linked to the minting of new tokens and therefore the purpose of reducing the Tokens themselves is not met.

The recent Luna Classic community decision to cut down on Minting is helpful and would enable Burn to have a real impact in the long run (1-2 years).

• LUNC community members proposed increasing Burn tax rates again
• Some community members are not in favor of reducing taxes and suggest alternative approaches, such as applying a smaller tax or increasing utility.
• Some community members believe that the decline in volume was due to the initial hype of the project coming to an end, and not because of the tax rate.

Where can I buy LUNC?

Luna Classic can be bought on numerous major centralized and decentralized crypto exchanges including Binance, KuCoin, Kraken, Gemini, OKX, Huobi, Gate.io, Bybit, Uniswap, and PancakeSwap.

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

The Author does not own a position in this cryptocurrency