Will Luna Classic reach $1? Luna Classic Price Prediction 2023, 2025 and 2030

Will Luna Classic reach $1? Luna Classic Price Prediction 2023, 2025 and 2030

Terra Luna Classic Price Prediction: LUNC is likely to rise in the year 2023 on account of Terra Rebel’s planned upgrades and should reach $0.000352.

Will Luna Classic reach $1? A combination of Burn and New Use Cases can drive LUNC to $1. LUNC will have to rise 5600 times from the current price to reach $1.

Will Luna Classic Recover: For LUNC to Recover, it will have to meet a few conditions. Read on for a detailed analysis

Lunc Burn Update: Binance burns 6 Billion LUNC in its first monthly LUNC on-chain burn.


Luna Classic Price Live

Terra Luna Classic is the rebranded name of the erstwhile LUNA token. $LUNC was launched in May 2022 after the crash of Terra Foundation’s UST (Stable Coin). As a way to compensate customers, the Terra Foundation launched a fork called Terra LUNA (2.0) blockchain and Token.

The older LUNA token was rebranded 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.

How well has Luna Classic LUNC performed since its launch in May?

Luna Classic price has outperformed benchmark Cryptocurrencies and the new $LUNA 2.0 by a huge margin. But there has been a sharp drop in the price of LUNC in the last few weeks. Here is how the LUNC price has changed since May

  • Luna Classic: +28.2%
  • Luna 2.0: (-81.2%)
  • Bitcoin: (-45.7%)
  • Ethereum: (-33.5%)

Will Luna classic reach $1? Volume vs Price

The Volume vs Price Chart for the last 30 days is shown below.

The flurry of community activities between June and October has helped Luna Classic. These activities include appointing developers, validators, validator fees, and passing burn proposals.

The last two months saw a decline in the trading volume, as well as the burn rate, has not seen a substantial rise despite Binance including the on-chain burn.

  • The LUNC Pumps and Dumps
    • June 26th to June 29th – 160% increase owing to roll out of LUNC Burn
    • August 24th to September 1st – 190% increasing owing to Validator notes activation and Likely Burn
    • September 26th – 60% increase owing to Binance joining the Burn
    • October 2022: LUNC price remained above $0.00020 but below $0.00030.
    • November 2022: The LUNC burn rate has fallen and the price of LUNC is trading below $0.00020. The trading volume of LUNC has constantly fallen.
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Luna Classic Technical Analysis

LUNC RSI and Fear and Greed

RSI: LUNA Classic has gained marginally in the last few days. The RSI of LUNC is now at 57.71 and which is above the resistance level of 50.62. The RSI of LUNC indicates that the price of Luna Classic has enough room to rise before it enters the overvalued or over-purchased territory.

Therefore, it is clear that LUNC will see a rise for the next few hours before it makes a reversal.

Fear and Greed: The Fear and Greed index of LUNC is currently 52.7. This level indicates that the sentiment is Neutral towards LUNC currently and it is improving which is a positive sign.

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Luna Classic Technical Analysis

Moving Average

Luna Classic’s price is currently above the 50-day Moving Average (black line). The 50-day MA is at $0.000167. Traders looking for a short-term can benefit from this movement. Added to it the 50-day SMA is moving in an upward direction forming a curved-shaped recovery. LUNC price is expected to gain looking at the 50-day SMA of LUNA Classic.

The 200-day SMA on the other hand is at $0.000183 and it is moving above the current price. However, in the chart below, the price is moving in an upward direction but the 200-day SMA is moving downward. LUNC may soon form a Golden Cross with 200-day SMA in the next few days. If so happens, we may see LUNC Classic rise higher even in the long term.

The current support for Luna Classic stands at $0.000178 and the resistance is at $0.000181.

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Recommendation

Considering the movement of the LUNC price in the 4 hours chart, we predict the momentum of LUNC to remain bullish. Our recommendation is Buy.

The Terra Classic $1 Dream: Given the massive outperformance over the last 6 months, many inside the Luna Classic community are hoping that the cryptocurrency will reach $1. We will attempt to analyze the cryptocurrency in multiple ways to evaluate if this is feasible.

Will Luna Classic reach $1? The Math

$LUNC will reach $1 through a combination of organic growth due to demand for its tokens as well as due to the LUNC Burn Tax which has been rolled out a couple of months ago.

  1. Organic Demand for LUNC Tokens: The Community is debating a variety of ways to enable the blockchain for various Dapps. Our forecast is some consensus should be achieved sometime in the next 3 months.
  2. LUNC Burn Tax: On-chain transactions have a 0.2% Burn Tax

To reach $1, LUNC Burn Tax will not be enough. The high liquidity environment that existed in 2021 is unlikely to return anytime soon. So the community will need to develop a consensus quickly on enabling the blockchain for various applications. The following simulation is feasible only if there are use cases on Terra Luna Classic.

We have assumed a conservative 25% growth per annum. Is this too optimistic?

  • Bitcoin rose 1400 times higher in 10 years
  • Ethereum rose 166 times higher in 6 years.
  • To reach $1, Lunc Classic must rise 5600 times higher.

Market Capitalization at Terra Classic $1 will be $6011 Billion. It will take 38 years to reach $1.

Will Luna Classic reach $10 Cents?

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 10 cents – 29 Years

Will Luna Classic reach 1 cent?

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 – 19 Years

Will Luna Classic reach $10?

Given the time it would take to reach even $1. Any forecast for $10 would be highly speculative. Still, we forecast that Luna Classic is unlikely to reach $10

Read Terra Luna Price Prediction here (Luna 2.0)

New LUNA Classic Development

Inter Blockchian Communication (IBC) of Luna Classic to Be Re-Opened

Terra Luna’s IBCs for Osmosis, Crescent, and Juno were disabled in the month of May after the Terra Luna Crisis. Ed Kim, the core developer at Terra Rebels has come up with the proposal of re-enabling Terra Luna’s IBC. Ed Kim recently published a proposal for re-enabling the IBCs between Terra Classic and three channels for Cosmos-based chains Osmosis, Crescent, and Juno.

As per the proposal target block to re-open these three IBC channels is 10,542,500, or approximately December 5th, 2022.

Upcoming Events

December 5th: Luna Classic IBC Opening.

Will Terra Community Re-Enable 1.2% Burn Tax?

A month ago, the terra community decided to lower the on-chain burn tax to 0.5% from 1.2%. However, on December 5th, Terra rebels will re-enable the three IBC channels for Cosmos-based chains Osmosis, Crescent, and Juno. As per proposal 10960 reopening IBC channels may also aim to increase the burning tax to 1.2%, with taxing 0.96% as the on-chain burn fee and allocating 0.24% to the Community Pool.

Read the Proposal 10960 here

Luna Classic Burn Updates

For LUNC burn, recently Binance announced that instead of burning weekly now Binance will be burning the LUNC tokens on a monthly basis. In its official announcement, Binance wrote that the on-chain transaction ID will be updated every month from now. This has also affected the burn rate of Luna Classic.

  • Total LUNC Added To Dead Wallet: 35,334,564,540
  • Total LUNC Added to Dead Wallet in October 2022: 44,295,550,100
  • Current Daily Burning Rate: 368,415,349

On December 2nd, Binance will implement the first monthly on-chain Luna Classic burn. The burn is expected to be massive as it takes into consideration the LUNA classic transaction for the entire 30 days instead of the previous weekly burn.

Will Luna Classic Recover?

Luna Classic’s Price recovery will depend on a few factors:

  • Overall Improvement in Market Condition
  • Adding More Buyers to the Project
  • Increase in LUNC Burn
  • Development of Luna Classic Eco-system

Among the above four factors, improvement in the overall market condition is not in the hands of the LUNC army or the developers. It depends on the macros and the news concerning cryptocurrencies. In the past, it has been noticed that whenever positive events happened globally, the crypto market condition improved, and with negative events, the crypto market crashed.

Apart from the market condition, the rest of the factors are completely dependent on the LUNC community and all three factors are interrelated.

The development of the Luna Classic eco-system will mean that more buyers will be interested in trading LUNC. Once more buyers flock to buy LUNC, the chances of LUNC prices going higher will increase.

LUNC burn is a way of decreasing LUNC circulation. If the LUNC community goes back to the 1.2% of burn tax, the LUNC burn will increase and more tokens can be put out of circulation. With circulation decreasing the price of LUNC will rise.

Therefore, if the above four factors are followed Luna Classic will recover.

Luna Classic 1 Dollar: What are Luna Classic $1 Triggers

We evaluate the future of Tokens and Blockchains on 7 primary criteria – Use Cases, Differentiation, Execution, Leadership, Community, Macroeconomics, and Other factors like Burn. Here is how we have rated Luna Classic

  1. Use Cases4 out of 10
    • 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. Ed Kim and Zaradar have laid out plans of action to achieve this goal but the status of execution is unclear.
  2. Differentiating factors 3 out of 10
    • LUNC has a fantastic community but given the absence of use cases, there isn’t much to differentiate itself from other cryptocurrencies. Differentiating is extremely important because investors tend to own 1-2 cryptocurrencies in each category. This is a work in progress and could take 12-18 months as per our estimates.
  3. Execution 5 out of 10
    • The LUNC community and Terra Rebels executed LUNC Burn quite efficiently and against heavy odds but the same cannot be said of other plans discussed recently. Part of the problem as per Tobias Andersen is the cost of doing this.
  4. Organization Leadership 7 out of 10
    • The Terra rebels have published high-quality documents that focus on LUNC beyond burning. The issues covered include legacy issues with respect to USTC, technically creating a Dapp-friendly environment, and preventing future issues of the sort seen with the original LUNA Coin. However, the absence of clear and decisive leadership is preventing future actions at the moment.
  5. Strong Community 9 out of 10
    • The Luna Classic community has proven itself to be extremely resourceful in getting things done over the last 3 months. The outperformance versus the Terra Luna crypto is enough evidence of this resourcefulness.
  6. Favorable Macroeconomic Conditions 5 out of 10
    • Numerous parallel crises at the moment could jeopardize a LUNC move higher – The rise in crude prices, likely rise in inflation, and worsening of the economic crisis in Europe and China. There isn’t much that traders or investors can do about this.
  7. Sustained Burn 8 out of 10
    • With 22 Billion tokens already Burnt, this is running at a very healthy rate. This will rise even faster if many of the above are taken care
  • LUNC Total Score-41/70
  • Ethereum Total Score-48/70
  • Luna 2.0 Total Score– 23/70

To read about Terra Rebel’s plans of action for Luna Classic, click here

Terra Luna Classic Prediction 2023, 2025, 2030 and 2040

LUNC price prediction 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
  • Improving macroeconomic conditions
  • Execution of plans laid out by Ed Kim and Zaradar [You can read it here]. This will depend on Community financial contributions
  • Partnerships will further contribute to a rise in price over the next 3-6 months

Terra Luna Classic Price Prediction 2023

The macroeconomics picture is likely to improve in 2023 and the community may further consolidate its gains. As a consequence, Luna Classic Prediction 2023 is $0.000352. This is 1.8 times higher than the current price.

Terra Luna Classic Price Prediction 2025

Substantial improvement in both coin dynamics and macroeconomics should push LUNC Price Prediction 2025 to $0.000673. This is more than 4.2 times the current price.

Terra Luna Classic Price Prediction 2030

We anticipate 2025-30 to be the golden era for Blockchains. Should that happen, Luna Classic Price Prediction 2030 is predicted to be $0.00316. This is 19.6 times higher than the current price

Lunc Price Prediction 2040 (Scenario-based forecasting)

At 15% per annum until 2040 – $0.00309


Is Luna Classic a Good Investment, Read Here

Will Luna Classic Recover? Read Here


Luna Classic Price Prediction Today

Overall OutlookPartially Negative
1. Market's WisdomNeutral
1a. Market DataNeutral
1b. Technical RecommendationNeutral
2. Crowd's WisdomPartially Negative
2a. Social Media BuzzLower
2b. Social Media SentimentNeutral

Can Luna Classic reach $1? Luna Classic News Today

  • A new Tax proposal of 1.2% is likely to be rejected. Vote here
  • Inter-Block Communication (IBC) will be rolled out in December.

Terra Classic $1: CrowdwisdomLIVE Buy Sell Indicator*

  • Current Momentum: Negative
  • Competitive advantage (Liquidity): Moderate
  • Short-Term Trading Recommendation: Sell
  • Long-Term Investment Recommendation: Hold

*Do your own research

FAQs: Luna Classic $1

Will luna classic reach $1 again?

Yes, Luna Classic can reach $1 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

Will Terra classic reach $1? LUNC Concerns

There are numerous concerns around Terra Luna Classic

  1. So far 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?
  2. What is the leadership structure in Terra Luna Classic? Unlike Bitcoin which has a well-designed architecture that truly enables a decentralized approach, LUNC cannot survive without leadership. It is unclear how the community will deliver strategic thinking without leadership.
  3. Community efforts have completely focussed on the Luna Classic Burn tax rather than the direction of LUNC itself

Can lunc reach $1? Conclusion

Yes, Luna Classic can reach $1 in 37 years if the community implements various proposals to secure LUNC and build an environment that encourages Dapps to return to Terra Luna Classic. Further, at least 50% of the coins will have to be burnt. At the moment one could say, LUNC has made admirable progress but a lot of work is still pending.

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

Will Luna classic reach $1?
Subhash

Subhash

Subhash, Founder of Crowdwisdom360 is an MBA and a Trained Financial Advisor with an extensive background in Forecasting in Financial Services and Politics. He has appeared many times on National TV and has written for a variety of magazines on Wealth Management and Election Strategy.

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