Terra has cast a new Terra Chain, leaving behind Luna Classic. In Terra Classic (LUNC) price prediction 2022, we use statistics, price patterns, and other information about LUNC to analyze the future movement of the cryptocurrency.
What Is Terra Classic (LUNC)?
Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable international payment systems. According to its white paper, Terra connects the price stability and broad adoption of fiat currencies with the censorship resistance of Bitcoin (BTC) and offers fast and affordable settlements.
Development on Terra started in January 2018, and its mainnet was officially cast in April 2019. As of September 2021, it offers stablecoins stabilized to the U.S. dollar, Mongolia tugrik, South Korean won, and the International Monetary Fund’s Special Drawing Rights basket of currencies — and it plans to roll out different options.
On May 28, 2022, they launched the genesis block of the new chain to conduct future transactions under the name Terra (LUNA), rebranding the original Terra Chain as Terra Classic. The initial native token — LUNA, has also been renamed LUNA Classic (LUNC). All network stablecoins (UST, EUT) have been renamed Terra Classic stablecoins (USTC, KRT, KRTC, EUTC). There will be no Terra stablecoins on the latest chain.
There is an idea that the different term “classic” refers to the Ethereum / Ethereum Classic divided in 2017. According to CEO Do Kwon, the ruin of UST in the spring of 2022 was identical to Ethereum’s DAO hack in 2017.
Luna Classic (LUNC) Live Price, Market Cap, Volume, Supply.
|#||Name||Price||Changes 24h||Market CAP||Volume||Supply|
What Is Luna Classic (LUNC)?
Luna Classic (LUNC) is the first initial token of the Terra blockchain, released in August 2018. $LUNC existed before the launch of the recent chain — now branded Terra (LUNA) — and works with the authentic code of the Terra ecosystem.
The essential function that the native token executed was to absorb the price variation of the algorithmic stablecoin — $UST. The price of the UST stablecoin was stabilized to the U.S. dollar by stamping and burning UST tokens to balance the collection and market of the coin. In May 2022, UST failed its peg and collapsed. The UST stablecoin algorithm created trillions of LUNA tokens, fell into a hyperinflationary spiral, and decreased the value of the actual LUNA taken by 99%.
What is the difference between Terra (LUNA) and Terra Classic (LUNC)?
Both versions of the token may exist due to implementing a proposal called Terra Ecosystem Revival Plan 2. The essence of the plan is to split the current blockchain through forking, which creates a new chain in the ecosystem, preserving the previous version.
According to the recovery plan, we have rebranded the existing chain and token Terra Classic. They airdropped the new LUNA tokens to current holders of LUNA and UST before the deep and the subsequent crash occurred.
Terra Classic (LUNC) Price Prediction 2022
LUNCH Luna classic price prediction 2022 is explained below with a weekly time frame.
The above chart of (LUNC) lunc price prediction laid out an ascending channel pattern known as the rising channel. The upper and lower trend lines connecting the higher and higher lows appear to move within an increasing slope. This design is a part of a bullish trend.
Terra Classic (LUNC) is currently in the $0.00021660. If the pattern continues, the price of LUNC might reach the resistance level of $0.00036301. If the trend reverses, the cost of LUNC may fall to $0.00016698, 0.00008564, and $0.00004078.
Terra Classic (LUNC) Support and Resistance Levels
The chart below displays the approval and resistance ranks of Terra Classic (LUNC).
|Resistance Level 1||$0.00017005|
|Resistance Level 2||$0.00024281|
|Support Level 1||$0.00010811|
|Support Level 2||$0.00008031|
|Support Level 3||$0.00005104|
Terra Classic (LUNC) Price Prediction For 2022-2025
|Year||Potential Low||Average Price||Potential High|
Terra Classic (LUNC) Overview
|Circulating Supply||6,575.71B LUNC|
|All-time high||$119.18 (April 05th, 2022)|
|All-time low||$0.00001675 (May 13th, 2022)|
Terra luna classic prediction 2025
Terra Luna Classic price prediction 2025 Terra Luna Classic’s price for 2025 according to our anatomizing should rank between$165.414 to$248.121 and the average figure of
terra classic price prediction 2025 should be round$206.767.
Terra Classic (LUNC) Price Prediction 2030
Luna classic price prediction 2030 With more important advancements in the Terra Classic ecosystem, the crypto community might continue to invest in LUNC for the next 8 years and drive important price rallies for the token. Therefore, LUNC might crash to $0.1 by 2030.
With constant progress in the Terra Classic Network, we can say that 2022 is a good year for lunch. For this cause, the bullish price prediction of LUNC in 2022 is $0.00024281. The bearish price prediction of Terra Classic (LUNC) for 2022 is $0.00005104.
With the improvements and upgrades to the Basic Attention Token ecosystem, performing LUNC would help to reach above its current all-time high (ATH) of $119.18 soon. But, it might also reach $0.0005 if the investors believe LUNC is a good investment in 2022.
Is Terra Classic (LUNC) a profitable investment?
After the tragic failures post the debug event, nothing can say about the altcoin.
What will the maximum trading price of LUNC be by the end of 2022?
According to our Terra Classic price projection, the LUNC price could fly to $0.0003932 by the end of 2022.
When did LUNC hit its ATL?
LUNCH hit its ATL of $0.00001675 on May 13, 2022.
Will LUNC be able to reclaim its ATH?
The chances of the altcoin recycling its ATH now seem bleak.
Where can I buy Terra Classic (LUNC)?
The altcoin is recorded on major cryptocurrency trade platforms like OKX, FTX, By bit, and DigiFinex, amongst others.
Where can you purchase Terra Classic (LUNC)?
Terra Classic (LUNC) has been listed on multiple crypto exchanges, which include Binance, KuCoin, FTX, Huobi Global, and Kraken.
Will Terra Classic (LUNC) reach a new ATH soon?
With the constant developments and advancements within the Terra Classic platform, Terra Classic(LUNC) has a high chance of reaching its ATH soon.
Is Terra Classic (LUNC) a good investment in 2022?
Terra Classic (LUNC) has been one of the top-gaining cryptocurrencies at the beginning of Q2 2022. If investors regain their trust in the crypto, we will consider LUNC a good investment in 2022.
Can Terra Classic (LUNC) reach $0.0005?
Since May, Terra Classic (LUNC) has been subjected to powerful bearish situations. If Terra Classic (LUNC) recovers and moves onto a long-term bullish movement, LUNC will hit $0.0005 soon.