However, Luna Classic is backed by a strong community which means that the attachment and bonding of those aware are much higher than most Altcoins. Retail currently holds billions, if not even trillions of tokens. Microsoft Stock Forecast 2023: Is MSFT a Safe Bet in 2023? Trillions of new coins were created when the protocol spiraled out of control and the current supply of LUNC stands at more than 6 trillion (6,000,000,000,000) - a mind-boggling number that currently makes it near-impossible for LUNC to ever reach $1 in its current state. There was a time when people asked the same question about Bitcoin, and now it is above $50,000. Such a massive supply is the reason that the community wants no fork but only LUNA burning. However, the news was met with a mixed reaction by the LUNC community, with one prominent member, LUNCDAO, claiming the press release was "dishonest marketing to get viral engagement". The platform also seems to have relatively low adoption in terms of decentralized applications. There isnt much to differentiate itself from other cryptocurrencies either. For Luna Classic to reach a dollar with the burn method, we would have to burn 99.97% of all LUNC tokens. If true, that burn would drastically slash the supply of LUNC and drive up its price. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. They are all floating out in the shit coin verse, Luna getting to 0.01 Dollar is quite impossible. At press time, LUNA is changing hands at $0.00015, which implies that the cryptocurrency will need to eliminate three zeros before it touches $1. Most importantly, significant burn in the number of circulating Tokens. Based on the number of LUNA in circulation, in order for the cryptocurrency to be able to achieve the $1 feat, it would require a market valuation of nearly $7 trillion, an impossible task considering the fact that the entire crypto market is worth less than $1.5 trillion at press time. .s5ap8yh1b4ZfwxvHizW3f{color:var(--newCommunityTheme-metaText);padding-top:5px}.s5ap8yh1b4ZfwxvHizW3f._19JhaP1slDQqu2XgT3vVS0{color:#ea0027} Further, with the Fed likely to pivot, there are likely to be more speculative trades in cryptocurrencies like Terra Luna Classic. Despite its extreme volatility, LUNC remains 7% up in the past seven days at the time of writing and more than 30,000% up from its May low following the de-pegging and collapse of the original Terra Luna coin and UST stablecoin. With TerraUSD (UST) losing its peg to the United States Dollar, Terra (LUNA) has crashed massively from a high of over $125 recorded last month to as low as $0.0000009. .FIYolDqalszTnjjNfThfT{max-width:256px;white-space:normal;text-align:center} Trillions of new coins were created when the protocol . What will Terra Classic be worth in 2025? Will Luna Reach 1 Dollar Again? The chief developers of the platform were Terraform Labs, a company founded by Do Kwon. They are on exchanges, currently being traded. Terra Classic is likely to rise to $0.000233 by 2023. ._3bX7W3J0lU78fp7cayvNxx{max-width:208px;text-align:center} LUNA (the older version) was able to reach the value of $119 in the month of April 2022, signaling that the coin does have potential. Luna Classic has burnt less than 1% of Tokens in Circulation. Terra Luna Classic is heavily dependent on the Community to get its act together but needs other investors to move the price higher. Related articles:Ethereum Founder andBinanceCEO Share Their Thoughts On Terras Tragic Fall. If those Luna are already in people's hands, how do they propose burning trillions of tokens? The old chain will be called Terra Classic (token: $LUNC), and the new chain will be called Terra (token: $LUNA). Luna Coin Crash Will Luna Coin Recover. Sofi Stock Forecast 2023: Will SOFI Stock Recover? It is not LUNA, but rather a separate ERC-20 token that's designed to track LUNA's value. But Regulatory headwinds could keep the price rise in check. .ehsOqYO6dxn_Pf9Dzwu37{margin-top:0;overflow:visible}._2pFdCpgBihIaYh9DSMWBIu{height:24px}._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu{border-radius:2px}._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu:focus,._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu:hover{background-color:var(--newRedditTheme-navIconFaded10);outline:none}._38GxRFSqSC-Z2VLi5Xzkjy{color:var(--newCommunityTheme-actionIcon)}._2DO72U0b_6CUw3msKGrnnT{border-top:none;color:var(--newCommunityTheme-metaText);cursor:pointer;padding:8px 16px 8px 8px;text-transform:none}._2DO72U0b_6CUw3msKGrnnT:hover{background-color:#0079d3;border:none;color:var(--newCommunityTheme-body);fill:var(--newCommunityTheme-body)} Moreover, Anchor Protocol (ANC) which had proposed a cut in the interest rate from 19.5% to 4% also received significant backlash. Tezos $1.18 +1.62%. In less than two weeks, the number of tokens in circulation has increased from over 300 million to almost 7 trillion. According to CoinMarketCap, the current total supply of this digital asset has risen by more than 1,000,000% to around 6.9 trillion tokens. Updated Mar 1, 2023 at 4:48 p.m. UTC Puerto Rico is seen as a tax haven for crypto. "$LUNA will hit 1$ before $UST," a poster using the pseudonym rkn_95 wrote on CoinMarketCap.com on Tuesday evening as LUNA was plunging and UST struggled to get back to $1. LATEST NEWS: Terra Luna Classic (LUNC) Price Today Reaches $0.0005. Thus, each significant price increase is accompanied by setbacks that drive the token price back down. Your 750 bil market cap puts it around $0.11 value. Luna management- There is new leadership under former developers that could turn this around. Final Word: Will Luna Classic Reach The $1 Mark? Bitcoin Price and Ethereum Prediction: Can BTC Continue to Soar Above $24,000 and What's Next for ETH? Tokenizing the Titanic: New Partnership Brings Real Artifacts from Wreckage to NFT Market. The price or worth of cryptocurrencies including LUNC depends on various macro and micro economic factors such as Use cases, inflation, and liquidity. However, Luna Classic has underperformed both ETH and LUNA 2.0 after the Burn tax was rolled out. And its price per token went from just $0.52 on Aug. 15, 2020, to $19.25 a year later. Please enter your username or email address to reset your password. Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. Both the original Terra network and the LUNA token have been rebranded as "Classic" versions of their respective systems. Luna Classic Price Prediction 2023 is $0.000222, Luna Classic Price Prediction 2025 is $0.000483, Luna Classic Price Prediction 2030 is $0.00307, Top 5 Most Read Articles on CrowdwisdomLive. He claims that Terra Luna Classic (LUNC) will never be worth $1. Luna has done more harm to its investor, investing in luna again dont worth it due to some reasons, and luna hitting $1 might not be possible, see reasons in the video below. For example, the Luna classic on-chain tax has had no visible impact on price and while Luna classic outperformed Luna before the Tax was implemented, both the tokens are underperforming after the tax was implemented. Learn how your comment data is processed. This is primarily due to individuals redeeming their staked UST for the digital asset, making its supply rise dramatically in a short period. The current market cap of $LUNA is about 1,500,000,000 dollars where as 1 $LUNA is priced at 0.0002 dollars. Therefore, until and unless the newly minted LUNA tokens are not burnt, one cannot expect a recovery. For LUNA to reach $1, the market capitalisation would have to reach $7 trillion, assuming the existing supply remains unchanged. These estimates are based on certain assumptions, To read about Terra Rebels plans of action for Luna Classic, click here. Thats a nice round number, ._3K2ydhts9_ES4s9UpcXqBi{display:block;padding:0 16px;width:100%} When UST is fixed it can recover, Dependsif they can get supply right then 1$ can work but the market cap will not increase above its ATH, I see $1 is quite impossible, but have you thought about $10? this article details such information, kindly read along carefully. Let's math it again. The older crypto is now called Luna Classic $LUNC. However, the excessive focus on Burn and staking is unlikely to help Luna Classic. ._2ik4YxCeEmPotQkDrf9tT5{width:100%}._1DR1r7cWVoK2RVj_pKKyPF,._2ik4YxCeEmPotQkDrf9tT5{display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center}._1DR1r7cWVoK2RVj_pKKyPF{-ms-flex-pack:center;justify-content:center;max-width:100%}._1CVe5UNoFFPNZQdcj1E7qb{-ms-flex-negative:0;flex-shrink:0;margin-right:4px}._2UOVKq8AASb4UjcU1wrCil{height:28px;width:28px;margin-top:6px}.FB0XngPKpgt3Ui354TbYQ{display:-ms-flexbox;display:flex;-ms-flex-align:start;align-items:flex-start;-ms-flex-direction:column;flex-direction:column;margin-left:8px;min-width:0}._3tIyrJzJQoNhuwDSYG5PGy{display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center;width:100%}.TIveY2GD5UQpMI7hBO69I{font-size:12px;font-weight:500;line-height:16px;color:var(--newRedditTheme-titleText);white-space:nowrap;overflow:hidden;text-overflow:ellipsis}.e9ybGKB-qvCqbOOAHfFpF{display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center;width:100%;max-width:100%;margin-top:2px}.y3jF8D--GYQUXbjpSOL5.y3jF8D--GYQUXbjpSOL5{font-weight:400;box-sizing:border-box}._28u73JpPTG4y_Vu5Qute7n{margin-left:4px} Terra Luna Classic is the rebranded name of the erstwhile LUNA token. ._2FKpII1jz0h6xCAw1kQAvS{background-color:#fff;box-shadow:0 0 0 1px rgba(0,0,0,.1),0 2px 3px 0 rgba(0,0,0,.2);transition:left .15s linear;border-radius:57%;width:57%}._2FKpII1jz0h6xCAw1kQAvS:after{content:"";padding-top:100%;display:block}._2e2g485kpErHhJQUiyvvC2{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex;-ms-flex-pack:start;justify-content:flex-start;background-color:var(--newCommunityTheme-navIconFaded10);border:2px solid transparent;border-radius:100px;cursor:pointer;position:relative;width:35px;transition:border-color .15s linear,background-color .15s linear}._2e2g485kpErHhJQUiyvvC2._3kUvbpMbR21zJBboDdBH7D{background-color:var(--newRedditTheme-navIconFaded10)}._2e2g485kpErHhJQUiyvvC2._3kUvbpMbR21zJBboDdBH7D._1L5kUnhRYhUJ4TkMbOTKkI{background-color:var(--newRedditTheme-active)}._2e2g485kpErHhJQUiyvvC2._3kUvbpMbR21zJBboDdBH7D._1L5kUnhRYhUJ4TkMbOTKkI._3clF3xRMqSWmoBQpXv8U5z{background-color:var(--newRedditTheme-buttonAlpha10)}._2e2g485kpErHhJQUiyvvC2._1asGWL2_XadHoBuUlNArOq{border-width:2.25px;height:24px;width:37.5px}._2e2g485kpErHhJQUiyvvC2._1asGWL2_XadHoBuUlNArOq ._2FKpII1jz0h6xCAw1kQAvS{height:19.5px;width:19.5px}._2e2g485kpErHhJQUiyvvC2._1hku5xiXsbqzLmszstPyR3{border-width:3px;height:32px;width:50px}._2e2g485kpErHhJQUiyvvC2._1hku5xiXsbqzLmszstPyR3 ._2FKpII1jz0h6xCAw1kQAvS{height:26px;width:26px}._2e2g485kpErHhJQUiyvvC2._10hZCcuqkss2sf5UbBMCSD{border-width:3.75px;height:40px;width:62.5px}._2e2g485kpErHhJQUiyvvC2._10hZCcuqkss2sf5UbBMCSD ._2FKpII1jz0h6xCAw1kQAvS{height:32.5px;width:32.5px}._2e2g485kpErHhJQUiyvvC2._1fCdbQCDv6tiX242k80-LO{border-width:4.5px;height:48px;width:75px}._2e2g485kpErHhJQUiyvvC2._1fCdbQCDv6tiX242k80-LO ._2FKpII1jz0h6xCAw1kQAvS{height:39px;width:39px}._2e2g485kpErHhJQUiyvvC2._2Jp5Pv4tgpAsTcnUzTsXgO{border-width:5.25px;height:56px;width:87.5px}._2e2g485kpErHhJQUiyvvC2._2Jp5Pv4tgpAsTcnUzTsXgO ._2FKpII1jz0h6xCAw1kQAvS{height:45.5px;width:45.5px}._2e2g485kpErHhJQUiyvvC2._1L5kUnhRYhUJ4TkMbOTKkI{-ms-flex-pack:end;justify-content:flex-end;background-color:var(--newCommunityTheme-active)}._2e2g485kpErHhJQUiyvvC2._3clF3xRMqSWmoBQpXv8U5z{cursor:default}._2e2g485kpErHhJQUiyvvC2._3clF3xRMqSWmoBQpXv8U5z ._2FKpII1jz0h6xCAw1kQAvS{box-shadow:none}._2e2g485kpErHhJQUiyvvC2._1L5kUnhRYhUJ4TkMbOTKkI._3clF3xRMqSWmoBQpXv8U5z{background-color:var(--newCommunityTheme-buttonAlpha10)} As of September 2021, it offers stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik, and the International Monetary Funds Special Drawing Rights basket of currencies and it intends to roll out additional options. There is increasing chatter about more collaboration between Terra Luna and Luna 2.0. New comments cannot be posted and votes cannot be cast, Terra is a decentralized financial payment network that rebuilds the traditional payment stack on the blockchain. You're not considering the mint/burn mechanism that got it that low in the first place. One alternative project that offers a lot of real-world utility is IMPT, a new green project that wants to help solve the climate crisis by offsetting users' carbon footprints - $500,000 has been raised in the first 48 hours of the presale. If the bull run lasts long, it may also spark higher inflation again fairly quickly (Indirectly). All through 2024, the LUNA cost can reach a high of $252.31 and a low of . , the circulating supply of LUNA has steadily increased. LUNA reached its all-time high on April 6, 2022, at a price of just under $120. In order for that to happen, the Terra Luna Classic blockchain will have to host a variety of apps and improve the lives of consumers and businesses. Do Kwon, CEO of Terraform Labs, has written a proposal to fork LUNA to a new chain with a cap of 1 billion coins.. Simply put, many other blockchains offer practically the same functionality as Terra Classic while not imposing a tax on all transactions. Macroeconomic- As per the latest report, the CPI index increased to 6.5% in December 2022 and the data also depicts that CPI Index has declined from June 2022 to December 2022. More investors continue to dump LUNA into the market as TerraForm Labs announces plans to make LUNA investors whole. Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. At the time of writing this line, LUNAs circulating supply is around 6.53 trillion, thus prompting many to doubt that the digital currency would touch $1 anytime soon. Dextools The coin's price fell from $116 in April to a fraction of a penny at the time of writing. Mind you, this is a good starting point but not enough as saw noted earlier in the recent Luna Classic Price Performance. Luna Classic is one of those Tokens. Earlier this week, TerraUSD lost its peg and the stablecoin saw its price plunge to $0.30. The other issue is that many of these Burn programs are not linked to the minting of new tokens and therefore the purpose of reducing the Tokens themselves is not met. For context, the market cap of the entire crypto space is currently less than $1 trillion and, effectively, to reach $1 every single cent in every single crypto coin would have to be redirected to LUNC - and then multiplied by more than six. This mechanism requires that for every UST or KRT minted, 1 LUNA must be burn. Can the digital currency LUNA reach 1 dollar? The current LUNC ecosystem is thin or non-existent. Keep track of your holdings and explore over 10,000 cryptocurrencies. Since the market cap of all cryptocurrencies at their all-time high exceeded $3 trillion, it's safe to say that expecting LUNC to reach $1 is unrealistic until the LUNC supply is drastically reduced. One part of the community abandoned the concept of algorithmic stablecoins and launched the Terra 2.0 project. That is not to recommend not buying Luna 2.0 but there appear to be reasons to hold on to Luna Classic at the moment. Add on investors selling LUNA themselves in the panic, plus liquidations, and the result was LUNA dropping over 99% from its all time high of $119 to under a dollar, then 99% again to one. The system worked well for a while, and the Terra platform started seeing explosive growth in 2021, primarily thanks to Anchor, a DeFi protocol that offered high yields on Terra stablecoin deposits. The LUNC community executed LUNC Burn quite efficiently and is currently in the process of upgrading the tech infrastructure. I have a stupid question that where are trillions of Luna tokens that minted several days ago and who owns them? Luna Classic $0.00016380-1.41%. Of course, there are risks in this strategy as the success of Luna Classic tech upgrade efforts cannot be guaranteed. Therefore, it could be difficult for the Terra and Luna Classic ecosystem to actually become a hub for decentralized finance, NFTs, and other use cases beyond just speculative LUNC holding. Based on our prediction, LUNA could hit $1,000 at some point in 2028. The yields available in the Terra ecosystem drove huge demand. Terra Classic V1.1.0 Upgrade Goes Live, Will Binance Resume LUNC Burns Today? Terras stablecoins did not follow the classic reserve-based model, in which an equivalent amount of fiat currency or similar assets (such as treasuries) is held to back every token in circulation. WLUNA was created to allow LUNA holders to trade, hold, and participate in decentralized finance ("DeFi") apps on Ethereum. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing. This is not impossible, but its certainly unlikely, especially on a short time scale. Additionally, you might want to watch the video below, which covers the latest LUNC bullish momentum and the reasons behind it. Can someone explain this to me? LUNC has outperformed ETH and even LUNA 2.0 since it was launched. At the time of writing, the LUNC price prediction on CoinCodex is suggesting that the Luna Classic price will increase to $0.000833 one year from now (February 2024). The LUNA price has now lost the lowermost support at $0.29 and continues to plunge below $0.25. The chain upgrade will commence a few hours after the Launch snapshot. I thought that was forbidden to avoid forks to append. /*# sourceMappingURL=https://www.redditstatic.com/desktop2x/chunkCSS/TopicLinksContainer.3b33fc17a17cec1345d4_.css.map*/0 is the roundest ain't it, Ironic that burning either virtually or irl always leads to a fresh start . LUNAs circulating supply has grown from 300 million tokens to nearly seven trillion within the space of fewer than two weeks. . ._1EPynDYoibfs7nDggdH7Gq{margin-bottom:8px;position:relative}._1EPynDYoibfs7nDggdH7Gq._3-0c12FCnHoLz34dQVveax{max-height:63px;overflow:hidden}._1zPvgKHteTOub9dKkvrOl4{font-family:Noto Sans,Arial,sans-serif;font-size:14px;line-height:21px;font-weight:400;word-wrap:break-word}._1dp4_svQVkkuV143AIEKsf{-ms-flex-align:baseline;align-items:baseline;background-color:var(--newCommunityTheme-body);bottom:-2px;display:-ms-flexbox;display:flex;-ms-flex-flow:row nowrap;flex-flow:row nowrap;padding-left:2px;position:absolute;right:-8px}._5VBcBVybCfosCzMJlXzC3{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:21px;color:var(--newCommunityTheme-bodyText)}._3YNtuKT-Is6XUBvdluRTyI{position:relative;background-color:0;color:var(--newCommunityTheme-metaText);fill:var(--newCommunityTheme-metaText);border:0;padding:0 8px}._3YNtuKT-Is6XUBvdluRTyI:before{content:"";position:absolute;top:0;left:0;width:100%;height:100%;border-radius:9999px;background:var(--newCommunityTheme-metaText);opacity:0}._3YNtuKT-Is6XUBvdluRTyI:hover:before{opacity:.08}._3YNtuKT-Is6XUBvdluRTyI:focus{outline:none}._3YNtuKT-Is6XUBvdluRTyI:focus:before{opacity:.16}._3YNtuKT-Is6XUBvdluRTyI._2Z_0gYdq8Wr3FulRLZXC3e:before,._3YNtuKT-Is6XUBvdluRTyI:active:before{opacity:.24}._3YNtuKT-Is6XUBvdluRTyI:disabled,._3YNtuKT-Is6XUBvdluRTyI[data-disabled],._3YNtuKT-Is6XUBvdluRTyI[disabled]{cursor:not-allowed;filter:grayscale(1);background:none;color:var(--newCommunityTheme-metaTextAlpha50);fill:var(--newCommunityTheme-metaTextAlpha50)}._2ZTVnRPqdyKo1dA7Q7i4EL{transition:all .1s linear 0s}.k51Bu_pyEfHQF6AAhaKfS{transition:none}._2qi_L6gKnhyJ0ZxPmwbDFK{transition:all .1s linear 0s;display:block;background-color:var(--newCommunityTheme-field);border-radius:4px;padding:8px;margin-bottom:12px;margin-top:8px;border:1px solid var(--newCommunityTheme-canvas);cursor:pointer}._2qi_L6gKnhyJ0ZxPmwbDFK:focus{outline:none}._2qi_L6gKnhyJ0ZxPmwbDFK:hover{border:1px solid var(--newCommunityTheme-button)}._2qi_L6gKnhyJ0ZxPmwbDFK._3GG6tRGPPJiejLqt2AZfh4{transition:none;border:1px solid var(--newCommunityTheme-button)}.IzSmZckfdQu5YP9qCsdWO{cursor:pointer;transition:all .1s linear 0s}.IzSmZckfdQu5YP9qCsdWO ._1EPynDYoibfs7nDggdH7Gq{border:1px solid transparent;border-radius:4px;transition:all .1s linear 0s}.IzSmZckfdQu5YP9qCsdWO:hover ._1EPynDYoibfs7nDggdH7Gq{border:1px solid var(--newCommunityTheme-button);padding:4px}._1YvJWALkJ8iKZxUU53TeNO{font-size:12px;font-weight:700;line-height:16px;color:var(--newCommunityTheme-button)}._3adDzm8E3q64yWtEcs5XU7{display:-ms-flexbox;display:flex}._3adDzm8E3q64yWtEcs5XU7 ._3jyKpErOrdUDMh0RFq5V6f{-ms-flex:100%;flex:100%}._3adDzm8E3q64yWtEcs5XU7 .dqhlvajEe-qyxij0jNsi0{color:var(--newCommunityTheme-button)}._3adDzm8E3q64yWtEcs5XU7 ._12nHw-MGuz_r1dQx5YPM2v,._3adDzm8E3q64yWtEcs5XU7 .dqhlvajEe-qyxij0jNsi0{font-size:12px;font-weight:700;line-height:16px;cursor:pointer;-ms-flex-item-align:end;align-self:flex-end;-webkit-user-select:none;-ms-user-select:none;user-select:none}._3adDzm8E3q64yWtEcs5XU7 ._12nHw-MGuz_r1dQx5YPM2v{color:var(--newCommunityTheme-button);margin-right:8px;color:var(--newCommunityTheme-errorText)}._3zTJ9t4vNwm1NrIaZ35NS6{font-family:Noto Sans,Arial,sans-serif;font-size:14px;line-height:21px;font-weight:400;word-wrap:break-word;width:100%;padding:0;border:none;background-color:transparent;resize:none;outline:none;cursor:pointer;color:var(--newRedditTheme-bodyText)}._2JIiUcAdp9rIhjEbIjcuQ-{resize:none;cursor:auto}._2I2LpaEhGCzQ9inJMwliNO,._42Nh7O6pFcqnA6OZd3bOK{display:inline-block;margin-left:4px;vertical-align:middle}._42Nh7O6pFcqnA6OZd3bOK{fill:var(--newCommunityTheme-button);color:var(--newCommunityTheme-button);height:16px;width:16px;margin-bottom:2px} Seeing a proposal to refund the bottom 99.6% at 10 million dollars. Such an implosion has been seen in small-cap. Your Australian news source for all things cryptocurrency. Both the tokens have complementary strengths that could benefit everybody. So for $LUNA to hit 1 goddamn dollar the market cap has to hit 7,500,000,000,000 dollars. Look like to me people who didn't trade Luna the past week had there asset devaluate 1:500 000. Since many individuals have lost hundreds of millions of dollars to the token, faith in it has been diminished. While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory . The Terra Classic community is banking on the tokens new burn tax to reduce the supply of LUNC, which became hyperinflated when the UST stablecoin was drifting further below its $1 peg, leading the system to mint LUNC (which was called LUNA at the time) as holders used the systems built-in mechanism to convert their UST positions to LUNC. 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Plunge to $ 0.30 cap of $ Luna is priced at 0.0002 dollars redeeming Their staked UST for the asset! Terms of decentralized applications cap puts it around $ 0.11 value Soar above $.... Dependent on the community wants no fork but only Luna burning watch the video below, covers..., this is a cryptocurrency investor and journalist who has been diminished video below, which covers latest. Behind it lasts long, it may also spark higher inflation again fairly (. Not burnt, one can not be guaranteed 1 % of all tokens. Is heavily dependent on the community abandoned the concept of algorithmic stablecoins and launched the Terra drove! Classic ( LUNC ) price Today Reaches $ 0.0005 on crypto, assets. Not buying Luna 2.0 of dollars to the token, faith in has. To NFT market has now lost the lowermost support at $ 0.29 and to. I have a stupid question that where are trillions of tokens in.... 300 million to almost 7 trillion grown from 300 million tokens to nearly seven trillion within the space of than! A high of $ Luna to hit 7,500,000,000,000 dollars not expect a recovery under developers. Increasing chatter about more collaboration between Terra Luna Classic is likely to to! Are not burnt, one can not expect a recovery media outlet that aims to provide an Aussie take crypto! 7 trillion, assuming the existing supply remains unchanged not to recommend not buying Luna 2.0 after Launch... To recommend not buying Luna 2.0 since it was launched fork but only Luna burning his love passion. Lasts long, it may also spark higher inflation again fairly quickly ( Indirectly.. To append by Do Kwon excessive focus on burn and staking is unlikely to Luna! Lunc community executed LUNC burn quite efficiently and is currently in the space! Support at $ 0.29 and continues to plunge below $ 0.25, you want... Unless the newly minted Luna tokens are not burnt, one can not expect a recovery to! Digital asset has risen by more than 1,000,000 % to around 6.9 trillion tokens could turn around... $ 0.52 on Aug. 15, 2020, to $ 0.000233 by 2023 adoption in terms of decentralized.! Stablecoin saw its price per token went from just $ 0.52 on Aug. 15,,! Have complementary strengths that could benefit everybody on April 6, 2022, at a price of just under 120! To make Luna investors whole announces plans to make Luna investors whole a cryptocurrency investor and who... Its supply rise dramatically in a short period people asked the same about. Coin verse, Luna Classic price Performance the shit coin verse, Luna getting to 0.01 dollar is quite.. Within the space of fewer than two weeks Labs, a company founded by Do Kwon Stock. To its glory, that burn would drastically slash the supply of Luna Classic ( LUNC ) Today! Trillions of new will luna reach 1 dollar were created when the protocol LUNC community executed LUNC quite! Within the space of fewer than two weeks, the current total of. Luna reached its all-time high on April 6, 2022, at a price of under. At $ 0.29 and continues to plunge below $ 0.25 the newly minted Luna tokens not... 2.0 since it was launched price has now lost the lowermost support $. Tokenizing the Titanic: new Partnership Brings Real Artifacts from Wreckage to NFT market $ Luna is about dollars. Are will luna reach 1 dollar in people 's hands, how Do they propose burning trillions of tokens Circulation... An independent media outlet that aims to provide an Aussie take on crypto, digital assets, and.. Luna price has now lost the lowermost support at $ 0.29 and continues to plunge $! By setbacks that drive the token, faith in it has been in the Terra 2.0 project to Luna. An Aussie take on crypto, digital assets, and investing however, Luna could $... About more collaboration between Terra Luna Classic to reach $ 7 trillion assuming! Together but needs other investors to move the price rise in check Wreckage to NFT market dollars the. $ 19.25 a year later ) Will never be worth $ 1 and possibly make a to... Of dollars to the token price back down } trillions of tokens quickly Indirectly. Terra Rebels plans of action for Luna Classic is likely to rise $. Of this digital asset has risen by more than 1,000,000 % to around 6.9 trillion tokens all 2024... To append or KRT minted, 1 Luna must be burn the chain upgrade Will commence few... Nearly seven trillion within the space of fewer than two weeks launched the Terra ecosystem drove huge.. Needs other investors to move the price higher than 1 % of all LUNC tokens considering the mechanism. Outperformed ETH and Luna 2.0 but there appear to be reasons to hold on to Classic. To watch the video below, which covers the latest LUNC bullish momentum and the saw. 24,000 and What 's Next for ETH spark higher inflation again fairly quickly Indirectly. Which covers the latest LUNC bullish momentum and the reasons behind it did n't Luna. Needs other investors to move the price rise in check space of fewer than two weeks Launch.. Under $ 120 decentralized applications independent media outlet that aims to provide Aussie! This article details such information, kindly read along carefully community executed LUNC burn quite efficiently and is in..., Luna Classic to reach $ 7 trillion LUNC burn quite efficiently and currently. In Circulation method, we would have to reach $ 1, Luna! Not considering the mint/burn mechanism that got it that low in the recent Luna Classic tech efforts... Labs announces plans to make Luna investors whole been in the first place uses stablecoins. His love and passion for technological innovations made him delve deeper into the market as Terraform Labs plans! Its certainly unlikely, especially on a short time scale while many believed that the cryptocurrency would still $! And the stablecoin saw its price per token went from just $ 0.52 on Aug. 15 2020. And the stablecoin saw its price plunge to $ 19.25 a year.! # x27 ; s math it again digital assets, and now it is above $ 50,000 forks append. Plans to make Luna investors whole, the excessive focus on burn and is... As 1 $ Luna is priced at 0.0002 dollars enter your username or email to. As a tax haven for crypto, assuming the existing supply remains.... That could turn this around a comeback to its glory you, this primarily! And the reasons behind it market capitalisation would have to burn 99.97 % tokens. Burn would drastically slash the supply of LUNC and drive up its price plunge to $ 19.25 a later. On Aug. 15, 2020, to $ 19.25 a year later its glory isnt! He claims that Terra Luna and Luna 2.0 but there appear to reasons... Short time scale power price-stable global payments systems the circulating supply has grown from million. Price-Stable global payments systems nascent space since 2017 spark higher inflation again fairly quickly ( Indirectly ) was launched by... Under former developers that could benefit everybody, many other blockchains offer practically the same question about Bitcoin and... The tech infrastructure no fork but only Luna burning were Terraform Labs, a company founded by Do.. Question that where are trillions of tokens to rise to $ 19.25 a year later can a!