Terra Luna Classic Price Prediction 2023,2024,2025,2026,2027
Terra Luna Classic Price Prediction 2023
Terra Luna Classic is now a community-led coin with little real-world utility.While the hard-working community has made incredible gains over the past six months Terra Luna Classic, the likelihood of LUNC reaching $1 appears slim without drastic action and change.
Trillions of new coins were created when the protocol went out of control and the current supply of LUNC is over 6 trillion (6,000,000,000,000) – a number that currently makes it nearly impossible for LUNC to reach $1 in its current state. condition
For context, the market cap of the entire crypto space is currently less than $1 trillion and effectively, $1 in each cryptocoin would have to be redirected to LUNC to reach every single cent – and then six must be multiplied by more than
Also Read : Terra Luna Classic Crypto Price Prediction 2022
However, there are some reasons for cautious optimism.
Staking has been live for several weeks with millions of coins exchanged by the community.
Burn started on September 21 and according to the exchange, about 5.6 billion LUNC tokens – equivalent to about $1.8 million – were sent to burn addresses.
Burn will continue with a weekly report released every Tuesday and hopefully other exchanges will follow Binance’s lead.
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The LUNC community is currently pushing another exchange, KuCoin, to adopt the burn mechanism and asking Coinbase to list the token, given its large volume.
It was also reported that Lithosphere developers Kaj Labs will burn 2.5 trillion LUNCs in their new Finesse series of games and have committed $50 to $100 million to facilitate the burning.
If true, this burn would drastically reduce the supply of LUNC and drive up its price.
However, the news received a mixed response from the LUNC community, with one prominent member, LUNCDAO, claiming that the press release was “dishonest marketing to gain viral engagement”.
Terra Luna Classic reaching $1 still seems a long way off and would represent a growth of over 300,000% from its current price.
That’s not to say that it won’t continue to provide investors with good returns in the short, medium and long term, but without a significant reduction in supply soon, that kind of growth is unlikely over the next 12 months. .
Further, LUNC’s lack of leverage makes it more open to volatility and attractive to speculative traders – open to pumps followed by dumps as investors take profits instead of holding because the project has less long-term value. Is.
An alternative project that offers many real-world benefits is IMPT, a new green project that seeks to help solve the climate crisis by offsetting consumers’ carbon footprints – the first 48 of the pre-sale $500,000 has been raised in hours.
