In May 2022, when Terra Foundation’s UST stablecoin lost its anchorage, Terra Luna plummeted from nearly $100 to less than $1. Terra Luna has since been renamed Luna Classic and is managed by LUNC Community. The Lunc community has worked together to push the price above $1, but the first challenge for the LUNC community will be to push the price of Luna Classic to 1 cent.
Value for money of LUNC and the latest news about Luna Classic
- 5 days: -0.5%, Outperformer*
- 1 month: -4.8%, underperformer
- 6 months: +31.2%, underperformer
- YTD: +8.1%, Underperformer
Trading volumes are the lowest since December 18, 2022 and one of the lowest since August 2022
weak, trading case: moderate
Summary of the latest news:
- Binance’s LUNC burning mechanism will resume after the community approved proposal 11367 “Upgrade v1.1.0” containing governance-approved features, including a burn tax split and burn wallet no-reminting. 3 Proposals approved
- On-chain tax wallet exemption
- Seigniorage-free separate burn wallet
- Burn the tax division in the community pool
Terra Classic $1
Dream: The massive Luna Classic community and potential investors are eager to know how far the Luna Classic price can go and specifically if Luna Classic could ever breach $1. Given the feelings behind the Luna incident in May, this is also of some emotional value.
So will Luna Classic reach $1? Analyze
To reach $1, Luna Classic must climb 5700 times. At $1, Luna Classic’s market cap would be $5929 billion, which is more than double Apple’s market capitalization. If the LUNC price were to grow at the rate of 50% each year, Luna Classic would take 22 years to reach $1.
Let’s analyze them in detail.
Is it possible to climb 5700 times?
Bitcoin has risen
1400 times higher in 10 years Ethereum has risen 166 times higher in 6 years.
Both BTC and ETH have increased under very different conditions while Luna Classic is located in an environment where there are more than 50 tokens with a market capitalization of one billion. Therefore, it can be said with a high degree of confidence that Luna Classic will not increase by 5700 times.
Is it possible for Luna Classic to reach double Apple’s market capitalization?
With the information we have, Luna Classic is not an Apple innovator nor are their services consumed by billions of people around the world. We can say with a high degree of confidence that Luna Classic will not reach a market capitalization of $5.9 trillion.
Can we accurately predict for 22 years that a token will grow at the rate of 50% each year?
No, it is impossible for anyone to predict the price of a Token in 22 years. In addition, it is impossible for any token or stock to grow at the rate of 50% every year.
Considering the factors of growth, market capitalization and time, we can confidently say that Luna Classic will not reach $ 1. The only scenario where Luna Classic can reach $1 is if 90-99% of the tokens are burned. This is an unlikely scenario.
Luna Classic will reach $ 1.1 cent: trigger
Terra Luna Classic (LUNC
) is a cryptocurrency governed by the Luna Classic community, led by Ed Kim, Zaradar, LUNC Dao, and other influencers. The cryptocurrency market, including LUNC, has been affected by macroeconomic factors such as the Ukraine-Russia war and changes in US Fed interest rates. LUNC’s success depends on the execution of its development plans, which include infrastructure and technology upgrades, and on demand for LUNC. To increase the price of LUNC, its supply must be reduced through the burning mechanism implemented by Binance. The LUNC community has worked to maintain the price of Luna Classic and bring new developments to support its growth.
Will Luna Classic reach 1 cent? Mathematics
Before we discuss the factors that could drive LUNC to 1 cent, here’s the past performance of some well-known cryptocurrencies:
Bitcoin has risen 1400 times higher in 10 years
Ethereum has risen 166 times higher in 6 years.
To reach 1 cent, Lunc Classic must rise 54 times higher.
Luna Classic can reach 1 cent in the future. However, in order for LUNC to reach 1 cent, several factors that determine the price increase will have to turn in favor of Luna Classic. Just burning Luna Classic tokens may not be enough to reach 1 cent.
LUNC earns 25% per year: Suppose the LUNC price increases by 25% per year. This growth is under the assumption that 50% of coins are burned during this period, the number of years to reach 1 cent – 18 years
LUNC earns 50% per year
: if Luna Classic earns 50% per year, it will take 10 years from now to reach 1 cent.
Will Luna Classic reach 10 cents?
Suppose the LUNC price increases by 25% per year. This growth is under the assumption that 50% of coins are burned during this period, the number of years to reach 10 cents – 28 years
Can Luna Classic reach 50 cents?
Yes, Luna Classic can reach 50 cents if more than 75% of the tokens are burned and the Luna community and team are able to provide both development and a significant number of Dapps in the Terra Classic ecosystem by the end of the year.
Will Luna Classic reach $10?
Given the time it takes to reach even $1. Any prediction of $10 would be highly speculative. However, we predict that Luna Classic is unlikely to reach $10
Will Luna Classic reach $100?
Given Luna Classic’s estimated market cap when it rises to $100, Luna Classic can only reach $100 if 99% of the tokens are burned. This is highly impractical and unreasonable. So it is impossible for Luna Classic to reach $ 100.
Can Luna classic reach $1? Volume vs Price
Down below is the Volume vs Price chart for the last 30 days.
The flurry of community activity between June and October helped Luna Classic. These activities include appointing developers, validators, validation committees, and passing burning proposals. However, after the launch of the Burn, community activities lost their momentum and Luna Classic fell from a peak of $0.00054 on September 9 to a low of $0.0001288 on December 21. The recent fund came after there was a major dispute with Luna Classic Rebels over how to spend $150k. After a massive uprising by community members, the new leadership has taken over, and the token is now implementing plans to make blockchain more independent and more DApp-friendly.
Can Luna classic reach $1? LUNC Concerns
There are numerous concerns around Terra Luna Classic
- Luna Classic does not have a definitive leadership structure. Although Bitcoin also lacks a well-designed leadership architecture for LUNC, it will be difficult to survive without leadership.
- Ed Kim and Co formulated and implemented action plans for Luna Classic. But it’s unclear which direction Luna Classic will take and which market segments it will try to dominate.
- So far it is unclear what the view around Terra Luna Classic is. Will they remain focused on DeFi? Will they differ from other big players like ETH and XRP?
- Community efforts have been completely focused on the Luna Classic Burn tax rather than the direction of the LUNC itself.
Can Lunc reach $1? Conclusion
Yes, Luna Classic
can reach $1 in 38 years if the community implements various proposals to protect LUNC and build an environment that encourages Dapps to return to Terra Luna Classic. In addition, at least 50% of the coins must be burned. At the moment it could be said that LUNC has made admirable progress, but much work is still pending.
Will Luna Classic reach 1 cent? Conclusion
With the current momentum, Luna Classic is unlikely to reach 1 cent in 2023. However, there are higher chances that LUNC will reach 1 cent in the near future. LUNC can reach 1 cent even before Shib Inu. Considering the mathematical calculation, LUNC could reach 1 cent in the next 11 years provided that the price increases by 50% per year.