Terra Luna Classic’s price has dropped by 0.5% in the last day, but it has risen by 2% in the last week and 6% in the last two weeks to $0.00017176.
LUNC, on the other hand, has dropped 10% in the last 30 days as a result of its community’s ongoing discussion about changes and the ongoing negative effects of the FTX collapse.
Terra Luna Classic has a good chance of succeeding during the upcoming bull market, assuming the altcoin’s community, developers, and validators can agree on a strategy for returning LUNC to its previous value.
Discord and division, on the other hand, can cause it to lurch for a while between periods of recovery and new losses.
Today’s Lunc Price
Luna Classic’s price today is $1.649865 USD
| DATE | Luna Classic | USD |
|---|---|---|
| Today | 01 |
$1.649865
|
Terra Luna Classic Price Prediction
With its 30-day moving average (red) remaining well below its 200-day moving average, LUNC’s indicators point to a coin that has been declining in recent weeks (blue). Furthermore, its relative strength index (purple) has dropped to 40, indicating a recent shift toward selling.
LUNC, on the other hand, is likely due for a rebound soon, as these indicators point to a bottom. This could have begun right now, with the coin’s recent minor upward movement possibly signalling the start of a new short-term rally.
LUNC is in a much better position than it was a few weeks ago, thanks to Binance’s announcement of the results of its most recent LUNC burn at the beginning of the month. The exchange claims to have removed nearly 6.4 billion LUNC from circulation in the previous month, resulting in a 19% increase in the coin’s value on the day these most recent figures were made public.
As a result, there is still hope that the supply of LUNC will gradually decline over time, leading to an increase in its price. Binance has already burned 13.7 billion LUNC, bringing the total destroyed to 35.7 billion.
While there are still 6.87 trillion LUNC in circulation, it is widely assumed that the amount burned will rise month by month as more platforms implement their own burns and Terra Luna Classic usage grows (the protocol currently imposes a 0.2% tax burn on all on-chain transactions).
However, with the adoption of a plan to transfer half of the 0.2% on-chain burn to a developer community pool yesterday, criticism and dissatisfaction have emerged. The goal of this change was to increase funding for Terra Luna Classic network development, thereby increasing the platform’s usability and appeal.
Some community members believe that this change will simply keep more LUNC in circulation, undermining efforts to reduce supply and increase the value of the alternative currency.
These debates and disagreements highlight the deep schisms within the Terra Luna Classic community. Similar considerations apply to an earlier proposal for a “merge” with Terra 2.0, which would have allowed customers to replace older LUNC with newer LUNA.
Given the degree to which there is a fundamental debate over how to rebuild Terra Luna Classic, it’s doubtful that the price of LUNC will ever approach whole numbers (i.e. between encouraging development and restricting supply).
Even a $1 increase would necessitate a price increase of approximately 600,000% above LUNC’s current value. This represents a nearly 5,800,000% increase for $10.
Remember that LUNC only improved by 51,000% from its all-time low at the peak of its recovery in early September (when the tax burn was initially disclosed). In other words, increasing it by 600,000% or even 5,800% from its current level is extremely ambitious and would almost certainly necessitate a long-term strategy.
This is not to say it is not possible, but given the limited supply of approximately 6.873 trillion LUNC and the monthly burn rate of approximately 12 billion LUNC, LUNC holders should begin by focusing on more realistic price expectations.
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