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Terra Classic price prediction: will LUNC reach $1?

terra-classic-lunc-price-prediction
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Predictions
Terra Classic price prediction: will LUNC reach $1?

With the changes experienced this year, what do the latest Terra Classic price predictions suggest about its future?

In the last 12 months, Terra Classic (LUNC) has experienced notable price swings and token burns. And while market trends are mixed, many observers feel that strong community support might help the token recover and rise again in 2024 and beyond. 

Several optimistic Terra Classic predictions even project the coin reaching $1. With that in mind, this article will consider the LUNC coin future, looking at its performance over the last year and echoing algorithmic projections made by the likes of CoinCodex and Traders Union.

What is Terra Classic?

Terra Classic is a blockchain protocol designed for global payments using stablecoins. It operates on a proof-of-stake (PoS) consensus, with its native token being LUNC.

The token, originally called Terra (LUNA), was developed by Terraform Labs, co-founded by Do Kwon and Daniel Shin. However, in May 2022, LUNA collapsed dramatically after its sister stablecoin, TerraUSD (UST), lost its peg.

Following the collapse, Terraform Labs launched a new blockchain called Terra 2.0, renaming the original blockchain to Terra Classic. The native LUNA token was also rebranded as LUNC, although some members of the crypto community call it Terra Luna Classic.

The Terra community is now working to revive LUNC by burning tokens to create scarcity and maintain its value.

Current market snapshot

At the time of writing, Terra Classic was priced at $0.00008235 with a 24-hour trading volume of $24.79 million. Its market cap currently stands at $452.6 million, holding a market dominance of 0.02%.

Terra Classic hit its peak price of $119.18 on April 5, 2022, and its lowest price of $0.00001675 on May 13, 2022. Since then, the highest it reached was $0.00059. Currently, per CoinCodex, sentiment around LUNC is neutral, but the Fear & Greed Index portends fear at 40.

The circulating supply of Terra Classic is 5.49 trillion LUNC out of a maximum supply of 6.783 trillion LUNC. Over the past year, the supply decreased by 0.68%, removing 39.77 billion LUNC from circulation.

Burn activity

Recent LUNC news shows that the token is continuing to experience significant burns, with the latest metrics showing robust daily burn activity. 

At the time of writing, the total burn rate had reached 123,763,780,098 LUNC. Additionally, in the past week, the cumulative burn totaled 7.01 billion LUNC, averaging approximately 1 billion LUNC daily. 

The 30-day metrics show 9.82 billion LUNC burned, averaging about 327.1 million LUNC daily. These figures highlight ongoing efforts to reduce supply and increase potential value.

Recent market trends

Over 30 days, Terra Classic experienced a 27.2% decline per CoinGecko. It also lost nearly 12% of its value across the last seven days. However, a 2.2% price increase in the previous 24 hours may underscore a cautiously optimistic expectation among investors amid market volatility.

Terra Classic price prediction: will LUNC reach $1? - 1
LUNC 24-hr price chart | Source: CoinGecko

At that time, Terra Classic traded between $0.00008009 and $0.00008409, reflecting the faint hoofbeats of a possible bullish trend. 

Overall, LUNC’s recent price movement is part of a larger trend affecting most cryptocurrencies. Major assets like Bitcoin (BTC) and Ethereum (ETH) have also seen price adjustments, indicating market-wide corrections. 

These trends suggest that LUNC’s recent downturn may have been influenced by overall investor sentiment and macroeconomic factors affecting the entire crypto space.

Terra Classic price prediction: short-term outlook

Given the current market conditions and performance indicators, it is unlikely that LUNC will reach $1 any time soon, as suggested in some quarters. 

Despite high liquidity and a negative yearly inflation rate of -0.68%, LUNC’s price has decreased by 10.3% over the past year. 

In addition, data from CoinGecko shows that it has underperformed relative to 88% of the top 100 crypto assets and major cryptocurrencies like BTC and ETH.

However, the CoinCodex short-term LUNC forecast has the price of the token rising by as much as 10.71%, and it is expected to reach $0.00008987 by the end of July. 

On its part, Traders Union’s LUNC crypto prediction has the token trading between $0.000075 and $0.0000916 in July. The financial website also sees the minimum LUNC target price for December 2024 as $0.0000816, with the expectation of hitting a high of $0.0000997.

Terra Classic price prediction: will LUNC reach $1? - 2
LUNC short-term price ranges | Source: Traders Union

LUNC price prediction 2025

Looking ahead, what does the future hold for Terra Classic? Let’s dive into the LUNC price prediction for 2025 and beyond.

CoinCodex expects Terra Classic to break $0.000215 and maintain its market position by 2025, with the lowest anticipated price being $0.00006965. 

On its part, Traders Union predicts an average price of $0.00010026 by the halfway point of 2025 and $0.00011091 by the end of the year.

Long-term outlook

Terra Classic price prediction 2026-2029

Beyond 2025, CoinCodex’s Luna Classic predictions see the token oscillating between a low of $0.00006182 and a high of $0.000242 in 2026. 

The Traders Union outlook puts LUNC’s mid-year price in 2026 at $0.00012272, with the possibility of reaching $0.00013578 by year’s end.

Another crypto price analysis website, PricePrediction, is more optimistic about the LUNC coin future, forecasting it to trade at an average of $0.000324 in 2026 and oscillating between a maximum of $0.000366 and a minimum of $0.000316.

Between 2027 and 2029, predictions for the price of Terra Classic range between a low of $0.00006182 in 2027 from CoinCodex and a peak of $0.0011 from PricePrediction in 2029. 

Terra Classic price prediction 2030–2040

PricePrediction has forecast that the value of Terra Classic may reach $0.0016 in 2030. However, CoinCodex predicts a more modest peak of $0.00058 by the end of that year. 

Traders Union’s outlook is even more cautious, pegging LUNC’s top price in 2030 at $0.00030496.

The same website estimates that the LUNC coin future price, especially around 2040, could play around the $0.00230527 level, depending on market conditions. 

On its part, PricePrediction paints a much rosier picture, indicating that Terra Classic could go from a low of $0.0014 in 2030 to a high of $0.1334 in 2040, a nearly 9,500% increase over 10 years.

Ultimately, none of the algorithmic forecasts have LUNC breaching the $1 level even by 2040. Currently, the most hopeful LUNC coin future projection only has it reaching the 1 cent level in the next 10 years.

Is LUNC a good investment?

As we wrap up our analysis, it’s essential to consider whether LUNC is a good investment. While the potential for significant returns exists, LUNC’s future is highly speculative. 

The period from 2024 to 2030 is poised to be pivotal for Terra Classic’s growth trajectory. The strong community support and ongoing LUNC token burns could drive its price upward, but various factors could also lead to volatility. 

Regulatory changes, technological advancements, market sentiment, and macroeconomic trends could all play crucial roles in shaping LUNC’s trajectory. 

Additionally, should the Terra Classic community effectively convey the safety of LUNC to the broader crypto community, adoption could increase and lead to an uptick in price.

On the other hand, any negative publicity, such as the Terraport Finance breach, the U.S. Securities and Exchange Commission (SEC) fraud charges against Terraform Labs following its bankruptcy, or the delisting of Terra Classic by Crypto.com, may lead to further selling and deter new investors.

It also remains to be seen whether the Terra Classic quant team will be able to re-establish the peg of its USTC stablecoin. Though a formidable challenge, achieving this would inject renewed enthusiasm into the ecosystem.

Therefore, while the predictions show promise, investors should approach them with caution. Make sure to conduct thorough research, keep an eye on the latest LUNC news, and consult with financial professionals before making any investment decisions.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

FAQs

Is Terra Classic (LUNC) a good investment?

Currently, algorithmic forecasts for LUNC regarding its future direction are very mixed. Whether or not it could be a good short or long-term investment for you will ultimately depend on your investment goals, portfolio spread, and attitude toward risk, among other factors.

Will LUNC go up or down?

It’s impossible to say for certain. Cryptocurrencies are volatile by nature, and Terra Classic has a very erratic price history. Its future direction will depend on a variety of factors, including market sentiment and the news surrounding the crypto.

Should I invest in Terra Classic?

Investing in Terra Classic comes with both potential rewards and significant risks. The token has experienced considerable price fluctuations and a dramatic collapse in 2022. 
Furthermore, LUNC’s future is highly speculative, influenced by market sentiment, regulatory changes, and technological advancements. It is crucial to conduct thorough research and consult financial professionals before making any investment decisions.

Will LUNC ever recover?

LUNC has shown signs of recovery, bolstered by community support and consistent token burns aimed at reducing supply and increasing value. 
While short-term predictions from sources like CoinCodex and Traders Union suggest modest price increases, the long-term outlook remains uncertain. 
Recovery to previous highs is challenging but not impossible if the community continues its efforts and broader market conditions improve.

Can LUNC reach 1 cent?

Reaching 1 cent is an ambitious target for LUNC, given its current price of approximately $0.00008235. Predictions from various analysts indicate a gradual price increase, but none foresee LUNC reaching 1 cent in the near future. 
Significant advancements in the ecosystem, increased adoption, and positive market trends would be necessary for LUNC to achieve this milestone.

Is LUNC dead?

No, LUNC is not dead. Despite the collapse of the original Terra (LUNA) and the associated challenges, the Terra Classic community remains active, with ongoing efforts to revive the token through burning and other initiatives.