Will Luna Classic Reach $1, 1 Cent?
Article Coverage: Luna Classic Price Performance, Latest News Updates, Will Luna Classic reach $1 Analysis, Will Luna Classic reach 1 Cent Analysis, Triggers and Barriers, Risks and Concerns
In May 2022, when Terra Foundation’s stablecoin UST lost its peg, Terra Luna crashed from close to $100 to below $1. Since then Terra Luna has been rebranded as Luna Classic and LUNC Community is running it. The Lunc community has been working together to push the price above $1, but the first challenge for the LUNC Community will be to push the price of Luna Classic to 1 cent.
Luna Classic Latest Developments
- March 21st: Luna Classic community rejected a highly controversial proposal to create a sub-DAO. According to the team, LUNC would have had four sub-DAOs, each with its own mandate. One DAO would oversee Terra Classic’s security and chain stability, while the second would be responsible for communication and marketing. Another DAO would be for documentation, while the last one would oversee mediation. Each of these sub-DAOs would operate for a six-month voluntary term. However, the community voted against it and the proposal was dropped.
- The LUNC community is voting on a major move that would change the classification of TerraUSD from a stablecoin to a meme coin. This proposal would recognize the reality that the coin no longer trades as a stablecoin and that the odds of regaining its peg are limited.
- March 10th: The LuncLive, a LUNC validator received another 114 million $LUNC and now has 36.9 billion #LUNC staked. LUNCLIVE is the #8 ranked validator in the world.
- March 4th: Binance conducted its 31st LUNC burn event. In the latest LUNC burn event, 760M LUNC tokens were removed from the supply. To date, Binance has burned over 50 billion LUNC. Binance burned 736,000,000 Terra Luna Classic (LUNC) in its 30th LUNC Burn Mechanism.
Luna Classic Token – Buy or Sell? Select One
- Nov 2nd: -27%
- Nov 29th: +30%
- Dec 30th: +20%
- Jan 28th: +13%
- Feb 25th: -46%
- March 4th: -94%
- March 10th: -74%
- March 15th: -66%
- March 21st: -94%
Luna Classic Burn Statistics
- Total LUNC Burn (Since May 13, 2022): 406.2B
- Lunc Burned On-Chain: 69.95B (17% of the total burn)
- Lunc Burn Wallet: 336.25 B (83% of the total burn)
So Will Luna Classic reach $1 again? Let us analyze
No, Luna Classic cannot reach $1 even if a larger portion of the Tokens are Burnt
To reach $1, LUNC will need to rise 15,291x.
At $1, the target market cap will be approximately $5.45 trillion.
If LUNC were to rise at the pace of 25%, it will take approximately 44 years to reach $1.
Quality of Investment: Poor
Let us analyze these in detail. Bitcoin rose 1400 times higher in 10 years Ethereum rose 166 times higher in 6 years. Both BTC and ETH rose in very different conditions while Luna Classic is in an environment where there are more than 50 tokens with a Market Cap of a Billion.
The aggregate Luna Classic Price Prediction for 2030 is $0.0021. This is significantly lower than the target price of $1.
Is it possible for Luna Classic to reach twice Apple’s Market Cap?
Luna Classic is not an innovator of the Apple mold nor are their services consumed by billions of people worldwide. We can say with a high degree of confidence that Luna Classic will not reach a market cap of $5.8 Trillion.
Can we Forecast accurately for 41 years that a Token will grow at 25% every year?
No, no one can forecast the price of a Token 42 years from now. Further, no Token or stock can grow at the rate of 25% every year for 41 years.
Considering growth, market cap, and time factors, we can confidently say that Luna Classic will not reach $1.
Now, let us consider a scenario where 90% of the coins are burnt. If 90% of the Tokens were burnt, To reach $1, Luna Classic must rise 5556 times. At $1, the Market Cap of Luna Classic would be $580 Billion. If LUNC’s price were to grow at 25% every year, it would take Luna Classic 39 years to reach $1.
So, even in a 90% Burn scenario, Luna Classic will find it impossible to reach $1. The only hope for a healthy return on Luna Classic Investment is unique and differentiated use cases.
Will Luna Classic Reach 50 Cent?
Luna Classic has a slim chance of reaching 50 cents.
To reach $0.50, LUNC will need to rise 7,645x.
At $0.50, the target market cap will be approximately $2.72 trillion.
If LUNC were to rise at the pace of 25%, it will take approximately 41 years to reach $0.50.
Let us evaluate this data
- Quality of Investment– Poor
- Growth required to reach 50 cent– Not Feasible
- Market Cap at 50 cent– Not Feasible
As per Crowdwisdom360 forecast, LUNC is to reach $0.00202 by 2030 which is nowhere close to $0.50. Additionally, even if 90% of the LUNC token is removed from circulation, LUNC is unlikely to reach $0.50. Therefore, considering the Quality of Investment, growth required, and time required, LUNC has a moderate chance of reaching 50 cent.
Will Luna Classic Reach 1 Cent? The Math
Yes, Luna Classic can reach 1 cent if 75-90% of the Coins are burnt
For LUNC to reach 1 cent, it would need to increase by a factor of 131. At 1 cent, Luna Classic’s Market Cap will be $54.8 Billion. If LUNC were to grow at a rate of 25% each year, it would take about 22 years to reach 1 cent.
Let us evaluate this data
- Quality of Investment– Moderate
- Growth required to reach 1 cent– Not Feasible
- Market Cap at 1 cent– Not Feasible
The aggregate Luna Classic Price Prediction for 2030 is 0.2 cents. This is lower than the target price of 1 cent but it is feasible with some burn. Therefore, considering the Quality of Investment, growth required, and time required, LUNC has a moderate chance of reaching 1 cent.
Compare whether Luna Classic is a better or worse investment option than other Cryptocurrencies
Will Luna Classic Reach $1, 1 Cent: Triggers and Barriers
Terra Luna Classic (LUNC) is a cryptocurrency governed by the Luna Classic community. The success of LUNC is dependent on the execution of its development plans, which include infrastructure and technology upgrades. This in turn will drive up the demand for Luna Classic Tokens. Secondly, to increase the price of LUNC, its supply must be reduced through the burn mechanism implemented by Binance.
There are numerous concerns around the Terra Luna Classic
- Luna Classic has no definitive leadership structure. Though Bitcoin also lacks a well-designed leadership architecture for LUNC it will be difficult to survive without leadership.
- A large number of volunteers have contributed over the year but internal politics and even attempts to defraud have been problematic
- As a consequence, it is unclear what is the vision around Terra Luna Classic. Will they remain DeFi-focused? Will they differentiate from other major players like ETH and XRP?
- Community efforts have completely focussed on the Luna Classic Burn tax rather than the direction of LUNC itself
Check out other LUNC price targets using the calculator below
What is Terra Luna Classic?
Terra Luna Classic was relaunched in May 2022 as Luna Classic (LUNC) after Terra Foundation’s UST stablecoin collapsed. In response to the crisis, Terra Foundation introduced a new blockchain and token, Terra LUNA (2.0), and rebranded the original LUNA token as Luna Classic, giving greater control to its community. The value proposition of LUNC is currently limited, primarily sustained by its community and an aggressive token burn program. However, LUNC is undergoing technological improvements, which might improve its investment profile.
Factors influencing Luna Classic’s price include use cases, macroeconomic conditions, and competition from other cryptocurrencies. The expansion of use cases is slow, and the ecosystem is relatively thin compared to its previous stature in the DeFi space. Strong community support is a plus, but challenges include emerging tokens with better use cases, the limited impact of the burn program, community conflicts, and the need to attract top DApps and creators amidst stiff competition.
Will Luna Classic Reach 1 Cent? Conclusion
With the current momentum, it is unlikely for Luna Classic to reach 1 cent in 2025. However, there are higher chances of LUNC reaching 1 cent in the next few years. LUNC may reach 1 cent even before Shib Inu. Considering the mathematical calculation, LUNC may reach 1 cent in the next 11 years provided the price rises 50% annually.
Luna Classic Past Developments
- February Updates: Bybit announced that it will support the Terra Classic (LUNC) v3.4.0 network upgrade. The daily LUNC burn has fallen. Binance burned 736,000,000 Terra Luna Classic (LUNC) in its 30th LUNC Burn Mechanism. This is the lowest burn since the mechanism started. $87,923 in trading fees was collected between Dec 31 and Jan 30. As of now, 400 Billion LUNC have been removed from circulation.
- January 2025: Luna Classic Node has announced a bug bounty program for LUNC, though the bounty amount has not been disclosed. Do Kwon, co-founder of Terraform Labs, pleaded not guilty to U.S. fraud charges during a hearing in Manhattan. Binance completed its 28th burn of Terra Luna Classic (LUNC) tokens. In its 28th LUNC burn actively, Binance removed 1.72 Billion $LUNC worth around $170K.
- December: Montenegro has approved the extradition of Do Kwon to the United States. The Securities and Exchange Commission (SEC) has charged Tai Mo Shan Limited, a subsidiary of Jump Crypto, with misleading investors regarding TerraUSD (UST) after the stablecoin lost its $1 peg. Binance announced that it will be supporting Terra Luna Classic’s Game-Changing v3.3.0 Upgrade. The v3.3.0 upgrade for Terra Luna Classic (LUNC) has recently gone live. Terra Luna Classic has passed a major proposal to update the CoinMarketCap dashboard with valid details. This comes ahead of the major v3.3.0 upgrade related to simplifying tax handling and increasing utility. Proposal 12147 to update the Terra Classic dashboard on CoinMarketCap passed as it surpassed the pass threshold. Binance completed its 27th burn of Terra Luna Classic (LUNC) tokens, removing 1.048 billion LUNC from circulation. This burn reflects approximately $95,073.99 in trading fees generated from LUNC spot and margin transactions between September 30 and October 30.
- November: The Terra Luna Classic community has rejected a community pool spending proposal from Cosmos developer team BLV Labs for their recent work on the blockchain. The Avalanche Foundation has repurchased $52 million in AVAX tokens initially sold to the defunct Luna Foundation Guard (LFG) in early 2022, officially ending its involvement with LFG. OrbitLabs has proposed an in-depth review of the new “Reverse Charge” tax system on Terra Classic. If approved by the community, Binance recently completed its 27th batch of the Terra Luna Classic (LUNC) burn, removing an impressive 1.048 billion tokens from circulation. This latest burn brings Binance’s total burned LUNC tokens to around 66.66 billion.
- October: The Terra Luna Classic community has unanimously approved Proposal 12142, titled “Removal of Forked Modules from Terra Classic,” which aims to streamline the blockchain by eliminating forked mainline modules. The Terra Luna Classic community has assumed control of CoinMarketCap access from Terraform Labs (TFL) following the approval of Proposal 12141, titled “Dealing with CoinMarketCap and other listings.” Do Kwon might have conducted crypto transaction while in jail. A recent investigative report suggests that Do Kwon may have conducted cryptocurrency transactions while in custody in Montenegro. Police sources claim to have found evidence of campaign financing and joint business dealings between Kwon and Montenegro’s Prime Minister Milojko Spajić on one of his laptops.
- The Avalanche Foundation intends to repurchase 1.97 million Avalanche tokens that were sold to the Luna Foundation Guard (LFG) in April 2022, just before the collapse of the Terra blockchain ecosystem. Terraform Labs is set to discontinue several of its products and services by the end of October, following its $4.7 billion settlement with the Securities and Exchange Commission (SEC), which included a directive to wind down operations. Terra Luna Classic has successfully completed a significant update for the long-awaited Tax2Gas feature. The proposal to upgrade to v3.1.6 received unanimous support, with 100% of votes in favor.
- September: The Terra Luna Classic community has recently introduced a USTC burn proposal, following TerraForm Labs’ decision to wind down operations and burn its remaining assets, which has garnered significant attention from community members. The proposal aims to burn 46.55 million USTC through contract migration, specifically targeting wallets associated with the Mirror Protocol. This follows a prior burn attempt that was unsuccessful due to insufficient contract balances.
- Over 726 million USTC were burned following the Terra Luna Classic community’s approval of proposal 12135, which aimed to burn tokens in Anchor Protocol through contract migration.
- The Chapter 11 bankruptcy hearing for Terraform Labs (TFL) has commenced, beginning on September 19.
- Vegas Morph, a key figure and validator within Terra Luna Classic, has proposed a plan to repeg USTC to $1.
- Luna Classic has finalized its long-awaited Tax2Gas redefinition upgrade, which is expected to enhance both the network and the LUNC price.
- Binance removed another 1.2 billion LUNC from circulation in its latest monthly LUNC burn event.
Note: Please consult a registered investment advisor to guide you on your financial decisions.
