Will Luna Classic recover? Luna Classic is trading negatively on the 30-day chart and has lost about 20% of its value over the past 30% days.
The probability of lunc recovery is very high as it is supported by a very disciplined community and now billions of LUNC are burned by Binance.
62.5% of the crowd expect LUNC to rise above $1 before 2031
Will Luna Classic recover?
Let’s explore whether Luna can recover in the coming weeks and months.
- Analysis of recent performance
- Macroeconomic context
- Analysis of other datasets that can predict LUNC recovery
- Community activities and their likely impact
- Likely impact of Ed Kim’s action plan
PS: We haven’t seen any evidence of Coinbase buying LUNC yet.
- Will Luna Classic recover? Analysis of recent performance
- Will Luna Classic recover? Have we reached the bottom of the Crypto market?
- Will Luna Classic recover? $LUNC vs $LUNA vs BTC and ETH
- Will Luna Classic recover? Macroeconomic factors
- Will Luna recover? What is working in favor of Luna Classic?
- Can Luna Classic recover? $LUNC vs $LUNA trading volumes
- Will Luna Classic recover? What about trading volume?
- Will Luna recover? Latest news about Luna Classic
- LUNC’s latest tweets about today’s price movements
- Will Terra Luna Classic recover? To conclude
- Key Questions and Answers about LUNC Recovery
Table of Contents:
Will Luna Classic recover? Analysis of recent performance
Luna Classic has been up 509.0% since June 18, the day the cryptocurrency market reached the bottom of the year. Ethereum is up 21.2% over the same period.
Monthly LUNC performance
- June: +6.7%
- July: -27.9%
- August: +126.9%
- September: +29.5%
- October: -18.8%
Will Luna Classic recover? Have we reached the bottom of the Crypto market?
June 18 continues to be the annual low for BTC and ETH.
- Both BTC and Ethereum have remained above that low reached on June 18, but are increasingly at risk of falling lower.
- Altcoins like Cardano and Solana are 10-15% lower than their annual lows and increasingly at risk of falling lower
- With Putin’s escalation in Ukraine, things could go both ways.
Our opinion is that the cryptocurrency market could see further declines in the coming months (previous 2018).
When is the next LUNC Burn on Binace scheduled?
Binance burned over 3 billion LUNC in the second burn after the first burn of more than 5 billion. The next LUNC combustion on Binance is scheduled for October 17, 2022.
How does LUNC Burn work on Binance?
Recently Ed Kim came up with an elaborate plan to burn LUNC. According to the plan, a certain amount of LUNC will be burned for each operation on Binance or any exchange with LUNC’s on-chain integration. The percentage of LUNC to be burned for each transaction has been set at 1.2%, which means that for every 120 purchases of LUNC coins 2 coins will be burned from the purchase total.
The percentage of LUNC to be burned or the LUNC combustion tax was unanimously decided on September 27 by the LUNC community.
Will Luna Classic recover? $LUNC vs $LUNA vs BTC and ETH
$LUNC price has outperformed other cryptocurrencies by a wide margin over the past 4 months. The LUNC community will have to find a new trigger to provide another pump for LUNC in the coming weeks.
Will Luna Classic recover? Macroeconomic factors
- Credit Suisse seems to be in trouble. If true, it could unleash a lot of destruction along the way. But so far, there are conflicting opinions about this and it is still not a problem.
- The Fed raised rates by 75 basis points last week. This is bad news.
- Putin is sending more soldiers to Ukraine. This is bad news.
- Crude oil once again exceeds 90 dollars, this is not good news
- Inflation numbers in Europe are rising. This is bad news
- The gas crisis in Europe could escalate with Russia becoming more offensive towards Ukraine and the EU and OPEC+ reducing production. This is bad news.
The macroeconomic environment is worsening again, complicating the recovery of financial markets and also of the LUNC.
Will Luna recover? What is working in favor of Luna Classic?
- The community has organized itself very well and has achieved many milestones in the last 4 months (not just Burn). This included introducing new validators and working hard to put governance mechanisms in place.
- The LUNC burn that began in June has continued at a steady pace over the past few days.
- Ed Kim outlined in great detail an action plan that accelerates combustion, brings better talent, enables the DApps ecosystem, and offers complete independence from the Terra Foundation. It is likely to be implemented well given past experience. However, the risk is that the community is expected to contribute financially in one way or another, this needs to be tested.
Community is critical to LUNC’s success.
Can Luna Classic recover? trading volumes $LUNC vs $LUNA
LUNC tends to dominate for fewer days in a month, but pumps much harder than $LUNA. For example, LUNC had 13 days when the volume had risen above $1 billion since July. It was only 8 days to $LUNA. This volatility is strongly linked to the flow of news and community activities that is absent in the case of $LUNA.
| Days when LUNC was ahead | Moon days was ahead | |
| October | 2 | 6 |
| September | 25 days | 5 days |
| August | 11 days | 20 days |
| July | 24 days | 7 days |
| June | 3 Days | 27 Days |
Will Luna Classic recover? What about trading volume?
Looking at the volume data $LUNC of the last 31 days, it is clear that Luna Classic also depends on high volumes for the price increase.
LUNC appears to follow the path of the PUMP in June, LUNC PUMPED from $0.00006 to $0.00016 before crashing all the way up to $0.00008. In the September PUMP, LUNC peaked at around 0.00059 and then dropped to 0.00025. Since then it has risen higher. The difference between the pump in June and September is that LUNC quickly achieved the 50% drop in September (in days vs weeks in June-July). LUNC pumped again after Binance’s announcement followed by Ed Kim’s Vision blog.
Will Luna recover? Latest news about Luna Classic
- Ed Kim’s note has arrived, now it’s up to the community to implement the plan
- Binance is implementing LUNC Burn
- LUNC. BET has launched a native LUNC project
- Luna Classic on-chain burn is active
Will Terra Luna Classic recover? To conclude
At Sum, the chances of recovering $LUNC are good as the overall cryptocurrency market has also begun a recovery path. However, if community activities were to stall, it could end cryptocurrency quite quickly.
