When the Terra Foundation’s stable coin UST lost its peg in May 2022, Terra Luna’s exchange rate collapsed from nearly $100 to less than $1.
Since then, Terra Luna has been renamed Luna Classic and is managed by the LUNC community. The Lunc community has worked together to get the price of the Luna Classic over $1,
but the very first task of the LUNC community will be to bring the price of the Luna Classic down to 1 cent.
Latest news on Luna Classic and market analysis. Market Analysis Luna Classic is at its lowest level since June 2022. LUNC trading
Latest news from the Luna Classic
The Terra Luna Classic community has approved a proposal from the USTC Repeg team that could result in a price increase. The approval came after the proposal failed to garner enough votes, in part due to issues with the Terra Station wallet.
Now that the wallet is working again, Proposition 11730 “USTC / Stable Algo Quant Team” was approved by 50%, exceeding the required threshold. Of the 50 validators who participated in the vote, 35 supported the proposal.
The proposal was previously rejected, but the USTC Quant Team pointed out some validators that changed the outcome of the vote. Burning Update – Over 70.28 billion
LUNCs or about 1.03% of total LUNCs have been burned. Today, 7,031,753 LUNC were burned due to taxes and another 78,286.69 LUNC were burned.
Luna Classic, buy or sell, poll below.
June 23- Buy: 43.1%, sell: 7.8%, net: 35.3%.
July 1- Buy: 43.0%, Sell: 8.0%, Net: 35.0%.
August 1- Buy: 50.8%, Sell: 6.0%, Net: 44.8%.
September 1- Purchase: 45.9%, Sale: 8.1%, Net: 37.8%.
September 2- Buy: 45.3%, Sell: 7.9%, Net: 37.4%.
Is Luna Classic worth a hodl?
Investment scenario: low.
trading scenario: low.
Dreaming of Terra Classic at $1:
The huge Luna Classic community, as well as potential investors, desperately want to know how much
the price of Luna Classic can rise, and in particular, whether Luna Classic can one day reach $1.
Will Luna Classic reach the $1 mark?
Let’s analyze this question In order for the price of Luna Classic to reach $1, it needs to be multiplied by 11500.At $1, the market capitalization of Luna Classic will be $5,900 billion, which is more than twice the market capitalization of Apple.
If the price of LUNC rises 25% per year, it would take 39 years for the Luna Classic to reach the $1 mark. Since the Luna Classic is not a compelling enough investment case,
let’s analyze these elements further. Is a multiplication of 11500 possible? Bitcoin has multiplied 1400 times in ten years. Ethereum has grown 166 times in six years.
BTC and ETH grew in very different environments, and Luna Classic grew in an environment where there are more than 50 tokens with a market capitalization of one billion.
Therefore, we can say with a high degree of certainty that Luna Classic is not multiplying by 11500.
Is it possible that Luna Classic will reach twice the market capitalization of Apple?
Given the information we have, Luna Classic is not an innovator in the Apple mold, and its services are not used by billions of people around the world. We can say with a high degree of certainty that Luna Classic will not reach a market capitalization of $5.9 trillion.
Can you accurately predict for 39 years that the token will grow by 50% every year? No, no one can predict the price of a token in 39 years. Moreover, no token or stock can grow at a rate of 25% per year for 40 years.
Considering the factors of growth, market capitalization and time, it is safe to say that Luna Classic will not reach $1.
Now consider a scenario in which 90% of the coins are burned.
If 90% of the coins are burned, then for Luna Classic to reach $1, it would need to be multiplied by 800.
To reach $1, Luna Classic needs to be multiplied by 800. At $1, the market capitalization of Luna Classic would be $590 billion. If LUNC’s stock price rises 25% per year, it would take 30 years for the Luna Classic to reach $1.
Thus, even in a 90% stock burn scenario, the Luna Classic will not reach the $1. The only hope for a good ROI on the Luna Classic lies in unique and differentiated usage scenarios.
Will Luna Classic reach the $1 mark in 2023?
Given the current price, the $1 market value ($5.9 trillion) and the time remaining until the end of the year, there is no way Luna Classic can reach $1.
Will Luna Classic reach the $1 mark: Trigger?
Terra Luna Classic (LUNC) is a cryptocurrency run by the Luna Classic community led by Ed Kim, Zaradar, LUNC Dao, and other developpers. The cryptocurrency market, including LUNC, is influenced by macroeconomic factors such as the war between Ukraine and Russia and changes in the US Federal Reserve interest rate.
The success of LUNC depends on the implementation of the company’s development plans, which include modernization of infrastructure and technology, as well as the demand for LUNC.
To increase the price of LUNC, it is necessary to reduce supply through the burn mechanism introduced by Binance. The LUNC community is working to maintain the Luna Classic price and incentivize new developments to support growth.
Will Luna Classic reach the 1 cent mark? Math
Let’s start right away with the 90 percent burn rate. To reach 1 cent, Luna Classic needs to be multiplied by 8. At 1 cent, the market capitalization of the Luna Classic would be $5.9 billion. If the price of LUNC grows at a 50% growth rate every year, it would take Luna Classic 6 years to reach 1 cent.
At a 90% growth rate, Luna Classic will need to reach 1 cent within the next 10 years. Otherwise, it will be very difficult to achieve this goal.
Will Luna Classic reach the 10-cent mark?
Let’s assume that the price of LUNC grows by 25% per year. This growth is based on the assumption that 50% of the coins will be burned during this period, the number of years until reaching 10 cents is 28 years.
Can Luna Classic reach the 50 cents mark?
Yes, Luna Classic can reach 50 cents if more than 75% of tokens are burned and if the Luna community and team can ensure development and a significant number of Dapps in the Terra Classic ecosystem by the end of the year.
Will Luna Classic reach the $10 mark?
Given the time it will take to reach even one dollar, any prediction of $10 would be highly speculative. However, we believe that Luna Classic is unlikely to reach the $10 mark.
Will Luna Classic reach the $100 mark?
Given Luna Classic’s estimated market capitalization, if it reaches $100, Luna Classic can only reach $100 if 99% of the chips are burned. This is completely unrealistic and unreasonable. Therefore, the Luna Classic will not be able to reach the $100 mark.
LUNC combustion update.
Offer in circulation: 5.87T
In the last 7 days: 361,320,918
Total LUNC consumption: 71.99 B
Will the Luna Classic be able to go up to $1?
Token Burning’s plans
Proposition 11658 seeks to divert Ozone Protocol restricted funds to the public pool. Proposition 11660 seeks to burn these funds completely to facilitate reprogramming. Although the normal 7-day discussion was skipped due to urgency, 82.54% of those who voted (representing 528,390,531,235,782 LUNC) supported burning the funds.
Will Luna Classic be able to reach the $1 mark?
LUNC Concerns
Terra Luna Classic raises numerous concerns. Luna Classic lacks a defined governance structure. While bitcoin also lacks a well-defined governance architecture, it will be difficult for LUNC to survive without governance.
Ed Kim and his colleagues have developed and implemented action plans for Luna Classic. However, it is not yet clear in which direction Luna Classic will evolve and in which market segments it will seek to dominate.
For now, the vision for Terra Luna Classic remains unclear. Will the company continue to focus on luxury goods? Will it differentiate itself from other major players such as ETH and XRP?
