Does Terra Luna Classic have a chance of reaching one cent? Yes, given that the market will begin to recover from its losses in the second quarter of 2023, Luna Classic will eventually reach one cent some years from now. To reach 1 cent, LUNC must rise 54 times its current price.
Latest Luna Classic Price
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Terra Luna crashed from close to $100 to below $1 in May 2022 when Terra Foundation’s stablecoin UST lost its peg. Terra Luna has now been rebranded as Luna Classic and is run by LUNC Community, formerly Terra Rebels.
Luna’s community has been working together to push the price above $1, thus far the first challenge is to push Luna Classic down to one cent.
Recent Performance of LUNC
- 1 Month: +8.6%
- 3 Months: -34.6%
- 6 Months: +95.9%
Will Luna Classic Reach 1 Cent: What Factors Could Drive LUNC to 1 Cent?
Before discussing the factors that could drive LUNC to 1 cent, here are the past performance of a few well-known cryptos:
Bitcoin rose 1400 times higher in 10 years
Ethereum rose 166 times higher in 6 years.
To reach 1 cent, Lunc Classic must rise 54 times higher.
- Macroeconomic Factors: The macroeconomic factors have widely influenced the crypto market. The Ukraine-Russia War, US Fed’s Rate Changes, and China banning Cryptos have been a few major factors influencing the crypto market this year. Once there is an improvement in the market condition we may see LUNC prices rising higher.
- Leadership: Lunc is Governed by the Luna Classic community. Ed Kim, Zaradar, LUNC Dao, and numerous influencers have been leading the community and have been formulating and implementing execution plans.
- Development and Execution Plans: The success of LUNC will completely depend upon how the plans are executed. Ed Kim and Terra Rebels have been formulating plans for the future of Luna Classic but the execution of these plans will determine the success of Luna Classic. Luna Classic recently voted for infra and tech upgrades.
- Demand: The demand of LUNC will be one important factor that could push the price to 1 cent. The community should be focused to find ways to increase the demand for LUNA Classic.
- LUNC Burn: One of the biggest issues with LUNC is its supply. For LUNC to rise higher, it will have to burn the maximum number of LUNC tokens. Recently Binance implemented an on-chain burn mechanism. Binance burns 0.2% of the total value for every Luna Classic transaction on its exchange.
- Sustaining current momentum: Despite the price of Luna Classic falling, the LUNC Community has been focused and has continuously worked to keep the price of Luna Classic higher. The community will have to sustain this momentum and work to bring in new developments.
Will Luna Classic Reach 1 Cent? The Math
Luna Classic can reach 1 cent in the future. However, for LUNC to reach 1 cent different factors determining the price rise will have to turn in favor of Luna Classic. Only burning Luna Classic tokens may not be enough for it to reach 1 cent.
LUNC Gains 25% annually: Assume the LUNC price rises 25% a year. This growth is under the assumption that 50% of the coins are burnt during this period, the number of years to reach 1 cent – 18 Years
LUNC Gains 50% annually: If Luna Classic gains 50% annually, it will take 10 years from now to reach 1 cent.
Best Exchange To Buy Luna Classic Right Now!
Crypto investments are monitored as a strategy for investing. You can use it to determine what crypto assets you should buy and what you should ignore. It is important that you also understand where you can buy these most searched cryptocurrencies now that you know what they are.
Here is the most recommended crypto exchange where you can securely buy them:
Binance – the most secure crypto exchange with low fees :
Considered the largest and most liquid centralized exchange Binance is by far the first worldwide. The benefits of buying crypto on the platform are that it maintains some of the lowest deposit/trading minimums, charges the lowest transaction fees, and gives you access to multiple DeFi protocols for passive investing. And in addition to providing, you with one of the most secure digital wallets, it insures your crypto assets.