What is Terra Luna Classic (LUNC)?
Terra Luna Classic (LUNC) is the original token of the Terra blockchain. The Terra blockchain was left behind after the recent unforgettable UST stablecoin collapse. To save its reputation and ecosystem, Terra announced to launch of the new Terra 2.0 blockchain with Terra Luna (LUNA) as the native token. But the question remains, will Luna recover?
LUNA was re-launched to replace the old Terra Luna coin, which is now known as Terra Luna Classic (LUNC). The old blockchain, now known as Terra Classic, functions completely separate from the Terra 2.0 chain. LUNA and LUNC are different coins, just like Ethereum and Ethereum Classic.
Terra Classic was launched as a proof-of-stake (PoS) blockchain and built on Cosmos SDK and Tendermint.
Will Luna Classic Reach $1? History of Terra Luna Classic (LUNC)
Terra was created at the start of 2018 with the idea of creating crypto assets that have mass adoption and are fairly stable in regards to price against the world’s leading fiat currencies.
Terra was founded by Daniel Shin and Do Kwon. They founded Terra with the help of Terra Alliance (a group of 15 e-commerce giant companies in Asia). The co-founders envisioned making Terra a huge payment Network.
Daniel Shin, who has vast experience in building e-commerce platforms, highlighted some problems in the existing payment methods. These problems could not be eradicated through traditional upgrades, so Do Kwon, who previously founded Anyﬁ, proposed how Terra could solve the problem highlighted by Daniel.
The solution Do Kwon was referring to was Terra Luna. Terra Luna replaces credit card networks, banks, and payment gateways with just a layer of blockchain. Furthermore, Terra Luna saves merchants money with its cheap transaction fees.
Current Status of Terra Classic (LUNC)
Terra Classic (LUNC) is now just an old version of the new Terra 2.0 blockchain. Terra Classic (LUNC) is now led by the community and is dependent on it. As of now, the majority of traders and investors consider LUNC as a meme coin with no use case.
Luna Price History
Using Binance as the data source, LUNC/BUSD was launched on May 30 2022. On its day of launching, LUNC made a huge green candle and rose from $0.00010198 to $0.00029126; however, the closing price on that day was $0.00012794.
From May 31 to June 8, LUNC kept on falling lower and lower as if it was in a mini downward trend. The LUNC price remained almost the same from June 10 to June 26.
On June 27, the price saw a bullish move, and in quick succession, LUNC went to $0.0001657 from a price of $0.00006521. This quick move to the upside didn’t last long, and the LUNC price was pulled back to the range of $0.00008124 (support) – $0.00014269 (resistance).
LUNC was stuck in a sideways trading pattern in the given range for almost 61 days. LUNC broke out of its resistance at $0.00014269 with great momentum and made its all-time high of $0.00059418 on September 8. Since making an all-time high LUNC has crashed and has come down to the price of $0.0001727 at the time of writing.
LUNC is currently 50% down from its all-time high (after split).
Can Luna Recover? LUNC Technical Analysis
The 10-day and 21-day moving averages don’t show a good sign on the charts. LUNC is trading below the 10-day and 21-day moving averages. These 10 and 21-day moving averages are acting as resistance for LUNC. LUNC must overcome these moving averages and flip them into support for a price increase. The price of LUNC will continue to fall if it remains below the 10 and 21-day moving averages.
The Stochastic Relative Strength Index (RSI) is a more price-sensitive indicator that reacts to even the slightest price changes. The Stoch RSI for LUNC is at its lowest point at the time of writing. From here, it typically goes up, which means there can be a slight increase in the average price of LUNC. Investors and traders can invest at this point for some potential quick gains.
The trading volume is constantly decreasing and in a downward trend. The trend line shows how LUNC volume is decreasing. This is not a good sign for LUNC. Trading volume should come into LUNC for positive price action.
Terra Luna Classic (LUNC) Price Prediction by Experts
“The optimism of the fourth and the final quarter of 2022 could turn fruitful for LUNC price. With an escalating count of buy orders, the price of the digital asset might catapult to its maximum target of $0.0003952. Contrarily, if the broader market falls prey to bearish clutches, the price might take a dip to $0.0002238. That said, a balance in buying and selling pressures could settle the price at $0.00029901.”CoinPedia
“Terra classic could grow to hit $0.0007 by 2025 but LUNC will lose all its value by September 2027. There are no signs of hope for its 2030 forecast. It is believed that LUNC could remain a dead coin.”CaptainAltCoin
“The coin’s value could drop slightly to $0.000516 by September 2023, but could recover to $0.00156 in five years.”WalletInvestor
“LUNC will potentially trade at around $0.000657 this year, before reaching $0.00112 next year and $0.00156 the year after that. By 2025, LUNC could be worth $0.00206, before dropping to $0.00177 the following year. In 2027, the coin could be worth $0.00244, moving to $0.00349 by 2028 and potentially closing the decade at $0.00495. In 2030 LUNC could trade at $0.00698.”DigitalCoinPrince
Luna Classic Price Prediction 2022
Since Terra Classic (LUNC) is solely dependent on its community, it is difficult to predict its future. The FUD regarding Do Kwon’s arrest will adversely affect LUNC, and we will see more blood for LUNC. A $0.00024059 price is expected by the end of 2022 if the community backs LUNA and continues to support it.
Luna Classic Price Prediction 2023
Terra Classic (LUNC) is an old version of Terra blockchain, so it is difficult for it to show good progress over the years. Stagnant price action is expected in 2023, and the price will remain below $0.00023.
Luna Classic Price Prediction 2024
The price of Terra Classic (LUNC) will decrease over the years because it is now a meme coin with no real development and major upgrades. The price may remain stagnant or fall to prices lower than $0.0002.
Luna Classic Price Prediction 2025
History suggests that coins like LUNC that have no real use case continue to lose their value over the years. It is expected that LUNC will gradually lose its price level and fall to $0.0001759 by the end of 2025
Luna Classic Price Prediction 2026
LUNC won’t be able to survive in the competing world of cryptocurrencies. The majority of the crypto project have a real use case and a proper team backing up the project. LUNC can’t survive just on its community. Terra Classic (LUNC) is expected to trade for $0.000101175.
Luna Classic Price Prediction 2027
Just like the previous years, LUNC will continue its fall in 2027 as well. LUNC is expected to be priced at $0.00004343 by the end of 2027.
Luna Classic Price Prediction 2028
If LUNC doesn’t break major resistances, then more downfall is expected. LUNC is expected to be trading around the $0.00002677 mark in 2028.
Luna Classic Price Prediction 2029
LUNC will continue its downward run and will be priced around $0.00001010 by the end of 2029. Trading volume is expected to be minimal leading up to 2030.
Luna Classic Price Prediction 2030
Trading volume is expected to die out, and it is forecasted that LUNC will lose all of its value by 2030 and be priced near $0.000003.
Frequently Asked Questions
Will Luna Classic recover?
Luna is not expected to recover to previous levels as the current market cap and circulating supply, along with the project outlook make it close to impossible for that to ever happen.
Will Luna Classic reach $1?
It’s predicted that LUNC will never reach $1. Terra Classic does not have the fundamentals for such a huge price increase. With the current supply of 6.9 trillion tokens, if LUNC were to reach $1, it would have a market cap of almost 7x of the entire crypto market.
Is LUNC a good investment?
Investing in cryptocurrencies depends on how much risk you are willing to take. Terra Classic is a very risky choice, with the FUD surrounding its co-founder’s arrest and the fact that LUNC is just a meme coin now led by its community. LUNC is not a good investment considering other options in the crypto space.
When will Luna recover?
It is expected that Luna is unlikely to ever recover to previous highs. There may be opportunity for short-term gains, but holding for long-term would be a risky due to the current fundamentals and project outlook.
Is Luna dead?
Luna Classic and the LUNC token do not have a bright future ahead. LUNC is expected to fall in the coming years, and its value might potentially become negligible.
Are LUNC and LUNA the same?
It is confusing for newcomers, and many people mix LUNC and LUNA since both are led by Terra. After the catastrophic and unforgettable crash of LUNA this summer, it was decided that a new blockchain and token would be launched. After the launch of LUNA 2.0, the older blockchain was renamed Terra Luna Classic. LUNC is the native token older Terra blockchain, and LUNA is the new one.