This year has been a tough sail for Terra Luna Classic since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of LUNC.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Terra Luna Classic to reclaim its all-time high in 2023? Continue with the article to learn about Terra Luna Classic price analysis and prediction by Coinpaper.
Read also: AI-powered investing startup Uprise lost $20m shorting LUNC
What is Terra Luna Classic?
Terra Classic (LUNC) is a blockchain platform that underpins algorithmic stablecoins and a suite of DeFi applications. Unlike traditional fiat-pegged stablecoins, Terra’s UST sustained its $1 peg by mint and burn equilibrium between the stablecoin and its sister coin Luna. However, in May 2022 UST lost its dollar parity, triggering hyperinflation of Luna that lost 99,9% of its value, dropping from its three-digit ATH to a tiny fraction of a penny in a matter of days. Following the collapse, Terra blockchain was rebranded as Terra Calssic, a nod to the 2017 Ethereum DAO hack that led to the network split. Similarly, LUNA token was renamed as LUNC.
Terra Luna Classic (LUNC) price
Currently, Terra Luna Classic Price is USD. LUNC has a circulating supply of coins and a total supply of . If you are looking to buy or sell Terra Luna Classic, Binance is currently the most active exchange.
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Terra Luna Classic price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Terra Luna Classic 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Terra Luna Classic price at $0.0001984 to $0.0002043. On the flip side, a fading interest in the new meme coin may push the price of Terra Luna Classic to $0.0001317-$0.0001103 lows.
Terra Luna Classic price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Terra Luna Classic (LUNC) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of Terra Luna Classic to climb as high as $0.000261, with the more distant prospect of reaching $0.0003209 in 2024. The bearish scenario is likely to see Terra Luna Classic (LUNC) trading between $0.0002133 and $0.0001709 in 2024.
Terra Luna Classic price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Terra Luna Classic (LUNC) price analysis and prediction is based on pure speculation and observation of Terra Luna Classic historical price movements.
Our Terra Luna Classic 2025 price forecast expects LUNC to rally towards $0.0004582 and reach $0.0005617 by the end of the year. The bearish scenario would see Terra Luna Classic at $0.0003122 to $0.0002875.
Terra Luna Classic (LUNC) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for Terra Luna Classic is neutral. In 2026, we expect Terra Luna Classic to reach at least $0.0008056 before climbing higher to $0.001036. In case of a bearish scenario, Terra Luna Classic may fall to $0.0006145.
Is Terra Luna Classic (LUNC) a good investment?
There are no signs of recovery any time soon and at the moment, LUNC doesn’t look like a promising investment. The token saw a 1,504,945% inflation, and its dramatic collapse in May 2022 eroded investors’ trust in Terra Classic blockchain platform and its applications. However, you can still play on LUNC volatility, giving the token a tiny allocation in your speculative portfolio.
Bottom line
Are you ready to invest in Terra Luna Classic? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy LUNC from many crypto exchanges, including Binance
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created Terra Luna Classic?
Terra Classic was created in 2018 by Terraform Labs, a startup co-founded by Do Kwon and Daniel Shin.
What was the all-time high for Terra Luna Classic (LUNC) ?
The all-time high price of Terra Luna Classic is $ on 2022-04-05
