Terra Classic price prediction: will LUNA Classic reach $1?

Read our Terra Classic price prediction to explore the coin’s price journey so far and consider where it could go in the future.

Terra is a blockchain protocol that utilizes fiat-pegged stablecoins to facilitate global payment networks. It began production in January 2018 under Terraform Labs, a startup co-founded by Do Kwon and Daniel Shin. The mainnet was launched in April 2019.  LUNA was Terra’s native governance token.

By September 2021, just a few years a couple of years after the launch, Terra had multiple stablecoins pegged to various currencies, such as the U.S. dollar, South Korean won, and the International Monetary Fund’s (IMF) Special Drawing Rights basket, with plans for further expansion.

In May 2022, following the de-pegging of the USD from UST, the price of LUNA collapsed. Consequently, a recovery plan by Terraforms Labs co-founder and CEO Do Kwan suggested a new chain to replace the Terra network. Hence, Terra (LUNA) was rebranded to Terra Classic (LUNC). The network’s stablecoins – UST, KRT, and EUT – were renamed as Terra Classic stablecoins – USTC, KRTC, and EUTC.

Terra Classis price history

The Terra project’s innovations in the decentralized finance (defi) space – such as its decentralized lending app, Anchor Protocol – helped it gain a lot of attention in the first few years after its inception. Accordingly, LUNA was pretty prosperous around the same time period.

2021 was a year of steady growth that saw LUNA climb over 10,000%, from $0.6494 on January 2 to $85.47 on December 31. The following year also brought about several peaks in the first few months, including its current all-time high of $119.18 on April 5, 2022.

However, in May 2022, UST lost its peg to the dollar, plummeting to under $1. As UST was supported by LUNA, its value was also impacted. Panic selling saw LUNA lose 99% of its value, falling to its current all-time low of $0.00001675 just one month after its April 2022 highs.
After its rebranding to Terra Classic (LUNC) on May 28, 2022, though the price has seen various fluctuations, it has stayed well below $1.

Factors affecting Terra Classic’s price

Terra Classic has had a unique journey within the realm of cryptocurrency. As a result, the future of its price remains wide open and hard to predict, although market sentiment will likely play a pivotal role.

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.

Additionally, the ongoing process of coin burning gradually diminishes the circulating supply of Terra Classic. Should demand remain stable or experience growth over time, this mechanism has the potential to fortify the price of LUNC markedly.

LUNC price prediction: short-term outlook

Cryptocurrency data website CoinCodex offered a moderately positive short-term LUNC coin price prediction, suggesting that it could climb 6.59% to $ 0.000138 by 1 March 2024. The website’s technical analysis stated that the sentiment on the coin was neutral,  with the Fear & Greed Index showing 72 (Greed).

Wallet Investor also shared a positive short-term forecast, believing LUNC could rise 15.9% to $0.000145 by March 11, 2024. 

However, it’s important to note that these forecasts can be wrong and have been wrong in the past. The crypto market can be extremely volatile. Investors considering buying LUNC should do thorough research based on their goals, expertise in the market, and attitude toward risk.

LUNC price prediction: long-term outlook

The long-term price forecasts for Luna Classic appear more volatile, with cryptocurrency predictors varying significantly on the direction the crypto’s price could take in the next few years.

Wallet Investor’s forecasting data suggests the coin’s price could fall almost 40% in a year’s time, reaching $0.0000755 in February 2025. The site further projected the price could average $0.0000196 in February 2026, $0.00001060 in 2027, and $0.0000122 in 2029.

DigitalCoinPrice had a more optimistic long-term forecast. The site’s Terra Classic price prediction for 2025 suggested it could rise over 100% to $0.000265 and hike even further to $0.000310 in 2026. Additionally, the website’s five-year outlook for LUNC saw the price reaching $0.000664 in 2029.

Meanwhile, BitScreener had an extremely bullish forecast, expecting Terra Classic to surpass $1 in 2024 and soar further to $4.69 in 2025. Though the site believed the price could collapse again, falling to an average of $0.4873 in 2026 and $0.1958 in 2027, it also predicted LUNC could rebound to $2.20 in 2028. 

BitScreener’s Terra Classic price prediction for 2030 suggested that the price could reach $60.14, which would represent an astounding 48 million percent increase from its current price.

Once again, it’s imperative to keep in mind that these Luna Classic price predictions may always turn out to be inaccurate, and thorough research is required before making an investment decision regarding Luna Classic or any other cryptocurrency or asset.

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