Get ready to join us as we navigate this rollercoaster ride of Terra (LUNA) classic price prediction for 2023-2030. Don’t let the name fool you; this isn’t going to be a classic crypto story.
Du Kwon, the founder of Terra (LUNA), had a recovery plan for the future of the blockchain following its collapse in 2022. If the team could fork the original Terra blockchain, it would be possible to compensate every investor who had bought over 10,000 LUNA.
For this to happen, the recovery plan proposed to split the main chain into two, LUNA Classic and Terra Chains. LUNA Classic was the original chain and coin, while Terra Chains became the new chain or LUNA 2.0. In addition, the plan proposed an airdrop spanning 2-years, during which investors would be compensated.
What Is Terra (LUNA) Classic?
Terra (LUNA) Classic, also called LUNA Classic, is the original Terra Coin that was left behind after the meltdown of the Terrachain’s UST/LUNA pair in 2022. As earlier mentioned, Du Kwon and his team forked the chain into producing a new chain called TerraChain and its native token, LUNA 2.0. The old original chain remained with its native blockchain token, LUNA Classic.
The term classic almost references Ethereum’s 2017 hard fork that gave birth to Ethereum Classic. It bears mentioning that the infamous security breach on the Ethereum DAO resulted in the hard fork. However, the cryptocurrency community did not perceive Du Kwon’s hard fork in the same light as Ethereum’s. This is because a part of the community felt this was Terra’s ploy to promote the crash of their algorithmic stablecoin, UST, as a DAO hack moment. Other reasons, such as distrust and the prevailing bearish conditions since the collapse, have led to little or no improvement to LUNA 2.0’s total market capitalization.
However, the old Terra or LUNA Classic expanded to provide support to stablecoin developers building DEFI projects on top of the blockchain. It is worth noting that while the market cap and price of Terra (LUNA) Classic were negatively impacted by the collapse, the total valuation has sustained at least $120 million throughout 2023.
What Is the Main Difference Between Terra (LUNA) Classic and LUNA 2.0?
The Terra network made a change to support itself. This change kept the original LUNA, now called LUNA Classic or LUNC, alive. However, because a lot of new coins were created to keep the value of UST stable, the number of LUNA coins went up to around 6.5 trillion coins. At the same time, they also started LUNA 2.0, which only has 210 million coins.
LUNA 2.0 doesn’t have a system where they create and destroy coins. To avoid problems in the future, they introduced a plan called ‘Prop 29’ to limit how the Anchor protocol works. Because LUNA 2.0 has fewer coins available and more people are trading it, it might seem stronger when you look at it on paper.
The big difference between Luna and Luna 2.0 is that Luna 2.0 doesn’t rely on any stablecoin connection. The original Luna cryptocurrency stayed valuable because it was connected to TerraLabs’ stablecoin, TerraUSD (UST). When the supply of one coin or the demand for the other changed a little too much, they would either create more coins (minting) or remove some (burning).
The Terra (LUNA) team introduced Luna 2.0 on May 28 on the new Terra network. It started at 6 AM UTC, which is when the community mined the very first block on the new mainnet, called Phoenix-1.
Is Terra Luna Classic (LUNC) Worth Investment?
In evaluating whether Terra LUNA Classic is a good investment, let’s consider one of the most frequently asked questions about cryptocurrency. Will Terra LUNA Classic reach $1?
Considering the current market supply of LUNC tokens, a price of $1 would require more than $5.9 trillion in market capitalization. Therefore, it is not realistic that the market cap of Terra LUNA Classic could go all the way to $5.9 trillion, considering that the overall crypto market cap peaks at $3 trillion.
However, we checked out some of the responses on Quora to the question ‘Is LUNC a good investment?’ and found a large percentage of the responses arguing it is based on the token recovering at least a tenth or a fifth of its 2022 all-time high. A tenth of LUNC’s all-time high is $11. This means that if you invested $1 today, and the price went to $11, your returns would go to $191,000 +. It is important to note that the chances of this happening are quite slim and not feasible in the next 10 – 20 years. Unless you are a holder who is quite a staunch believer in ‘Hold On Dear Life’ (HODL), the coin will not be suitable for short-term investment.
Nevertheless, there are other factors beyond a market cap and price increase that should be your deciding indicators on whether or not to invest in LUNA Classic. For example, the Terra LUNA Classic staking mechanism, building a DEFI project on the chain and deploying smart contracts. Remember that the staking feature is rewarding and might have a handsome return on investment (ROI) if you invest well. Besides, Terrachain’s design targets frictionless transactions on the Luna network via a decentralized ledger. This makes payment easy, quick, and less costly. Continue below to the following LUNC forecasts if you are considering buying Terra LUNA Classic.
What Are the Predictions for Terra Luna Classic (LUNC) in 2024?
We evaluated several price prediction websites to come up with a summary of where the majority of them believe Terra LUNA Classic will be by 2030. In this section, let’s take a look at 2024.
Digital Coin Price Terra LUNA Classic Price Prediction
As per data from the Digital Coin Price site, LUNC has a maximum price prediction of $0.000149 and a minimum price prediction of $0.000125. In addition, the price will average at approximately $0.000146.
According to the price prediction site, the price of LUNC will gradually increase from 2023 to 2032.
Terra LUNA Classic Price Prediction by Cryptopredictions.com
Our next evaluation of price prediction data was Cryptopredictions.com. According to their Terra Classic price forecast, LUNC is going for a maximum price of $0.00046788864401 in 2024 and a minimum price of $0.000318164277927.
The website’s research indicates that the LUNA Classic token will undergo significant growth in the next 12 – 24 months. This is also evident from their Luna Classic maximum price prediction of $0.000428374859605 in the remaining part of 2023.
According to Wallet Investor, investors’ declining interest in Terra after the collapse forecasts a gloomy price in the coming years. The prediction site believes the price will be tight in 2024 and 2025, ranging between $0.0413 and $0.124. As per the website, the average price of LUNA Classic will be $0.0826 in 2024.
However, the prediction platform does indicate in its FAQ section that the potential long-term earnings per year are 1607.49% if invested in Terra LUNA Classic.
What Are the Predictions for Terra Luna Classic (LUNC) in 2025?
LUNC Price Prediction 2025 by Digital Coin Price
According to the Digital Coin Price site, LUNC has a maximum price prediction of $0.000149 and a minimum price prediction of $0.000125 in 2025. In addition, the price will average at approximately $0.000146 in that year. As per data from the website, the price of LUNC will record significant gains between 2023 and 2032.
LUNC Price Prediction 2025 by Cryptopredictions.com
We went over to Cryptopredictions.com. According to their Terra Classic price forecast, LUNC will record a maximum price of $0.00046788864401 in 2024 and a minimum price of $0.000318164277927.
As per the website’s Terra LUNA Classic price forecast for 2025, the token will undergo significant growth in the upcoming months. We can see that Cryptoprediction’s maximum and minimum price forecasts for Terra Luna Classic are somewhat bullish and positive. This shows that the cryptocurrency could record an uptrend between 2024 and 2025.
Terra LUNA Classic Price Prediction via Market Sentiments
There are various indicators of market sentiment around the Terra LUNA Classic ecosystem that exhibit a positive outlook for LUNA Classic. These indicators include exchange support, community sentiment, and the impact of the burn tax.
- Support from exchanges: Cryptocurrency exchanges like Kucoin and Binance have continued extending support to the Terra chain even after its collapse. For this reason, the coin has exhibited promising signs of recovery. This could, therefore, encourage other exchanges to follow in the same way and set up a solid foundation for future long-term growth. Besides, exchange support creates a venue to ramp up the token’s trading volumes and prepare it for upcoming bull runs.
- Burn Tax: The Terra (LUNA) Classic team designed and had the community vote for a 1.2% burn tax on any future LUNA Classic transaction, whether buying or selling. Hence, positioning the coin in better shape for an uptrend by overcoming the negative effects of over-minting. Reducing supply from 6.5 trillion tokens to at least 10 billion would create a balance between supply and demand, therefore, contributing significantly to overall positive sentiment.
- Community Support: LUNA’s community has shown an extent of support to the blockchain even after it collapsed, and the majority suffered huge losses. The good thing is that the community did not turn its back and showed up to vote on critical proposals for the recovery plan. However, it could be that the majority of them are in it just to get back their compensation.
What Are the Predictions for Terra Luna Classic (LUNC) in 2030?
LUNC Crypto Price Prediction 2030
Terra LUNA Classic, as of this writing, has a price of $0.40 and ranks at position 154 in the list of cryptocurrencies by market cap. The token’s circulating supply lies at $150,098,721 and commands a market capitalization. In the last several months after the announcement of the recovery plan, the cryptocurrency has demonstrated a level of improvement. Investors coming in believe the price of Terra LUNA Classic will once again regain its former glory and rise to $1, even if it means holding on for dear life (HODLING) till 2030. In this section, let’s evaluate the long-term prospects of the cryptocurrency and establish whether it will return profits by 2030 – 2032.
LUNA Classic Price Prediction 2030
- Changelly LUNA Classic Price Prediction 2030
According to data we collected from crypto prediction aggregator Changely, the price of LUNC will trade between $0.94 to $1.10 in 2024 and rise to a range between $6.40 and $7.72 in 2029. After this, the token will prepare for a stronger rally and cross the $10 mark in 2030. The maximum price prediction for 2030 is $11, while the minimum price prediction is $9.46. If you can hold for this long, Changelly is forecasting a 400,000X in returns.
As per Changelly, LUNC will continue attracting investors and developers even after it fell, given its sophisticated, self-stabilizing stablecoin technology. For instance, the project has been lauded for its programmable infrastructure that can maintain the stability of a stablecoin’s value and also regulate the distribution, hence, allowing the coins to remain tethered to the right underlying assets without bleeding valuation.LUNC Crypto Price Prediction 2030
Terra LUNA Classic Security
The Terra blockchain utilizes a proof-of-stake consensus mechanism. This allows the chain to hold LUNA token coins as collateral so that stakers can take part in validating transactions. In return, the validator receives rewards that are directly proportional to the amount of tokens they have staked. Additionally, a token holder can instead delegate their stake to someone else, thereby allowing the delegator to validate transactions on their behalf. In return, the delegator and the validator share the revenue. It also bears mentioning that the Terra blockchain guides validator nodes on how to set up their system, as well as best practices for succeeding in securing a sophisticated blockchain network.
In May, after launching the Terra mainnet, CertiK performed a security audit on the Terra blockchain to verify and test its security against market manipulation, smart contracts logic, and architecture. CertiK considered the modeling and reasoning of the chain’s model to be sound and logical, however, the on-chain security platform did not comment on the performance of the blockchain.
Terra Classic’s Role in UST and LUNA Classic Future
The UST or TerraUST is the native stablecoin of the Terra Protocol. The value of UST is pegged to the US dollar at a 1:1 ratio. LUNA Classic and UST mutually depend on each other for the success of the Terra blockchain. LUNA Classic backs TerraUST, and whenever there is rising demand for UST, the blockchain burns LUNA tokens, thereby ensuring that the value of LUNA always remains deflationary.
However, it is important to note that the value of LUNA can fall whenever the value of UST becomes unstable. Before the collapse happened in 2022, a temporary crash in LUNA’s price was ensured after the UST lost part of its peg briefly to the Wormhole attack. In 2022, the collapse was ensured after investors pulled out liquidation from the project and UST depegged to as low as $0.044. The LUNA Classic crashed from $80 to over $99, losing billions of dollars of investor funds.
Terra Luna Classic (LUNC) Past Price Analysis
In what pro-crypto media headlines deemed as ‘a rise from death,’ few anti-crypto headlines outlined it as “a drawing man clutching at a straw.’ However, at the dawn of August and September 2022, LUNC began showing signs of recovery. By the end of September, the coin had rallied upwards by over 300%. This uptrend came after a long, bearish bloodbath that had seen the coin lose over 99% of its value.
Currently, a piece of LUNA is going for $0.0000548. However, the all-time-price graph is not looking that good with the long red candle that took place in mid-2022. The 1-year chart is also on a downward trajectory, with the price of LUNA/USD gradually falling from an annual high of $0.0003059 on October 10, 2022, to an annual low of $0.000057. The low is near the current LUNC price.The RSI recently dropped from 91 to 32 and then back to 58. The 91 level is an overbought region and signifies an imminent correction downwards. This correction did happen, and the price of LUNC/USD dropped from $0.00005764 to $0.00005679 between 17th and 19th September 2023. However, the price is showing signs of a recovery on the 5-day chart, with the price of LUNC/USD hovering around a minor resistance at $0.00005780. If buyers can break above this level, the chances of testing are $0.00005682, which is the overhead resistance that exists. If they can break the overhead resistance, anything is possible for the price action of Terra LUNA Classic to hit levels above $0.00006026.
However, if the buyers fail to sustain this momentum and the price crashes further from the current level, sellers are likely to pull the price to $0.00005625.
Conclusion: Should You Buy Terra LUNA Classic?
Terra Classic is the original Terra LUNA coin that happened after the collapse and forking of the Terra blockchain. LUNA 2.0 resulted from the need for a regeneration strategy, which Terraform Labs co-founder Do Kwon recommended as a method to reimburse lost investor funds.
For this reason, the team distributes LUNA 2.0 tokens periodically to everyone who had invested over 10,000 tokens before the collapse. This article discussed Terra LUNA Classic and whether it could be a good long-term investment. If you read all this way, thank you, and keep having good crypto intentions. In case you are wondering how to buy LUNA Classic, please check out Kraken, Huobi, PancakeSwap, and Gate.io. These are the top websites where you can buy Terra LUNA Classic.