The Terra Luna crash of 2022 was a massive event in the crypto space, and in its wake, Terra Luna Classic soldiers on.
So what’s happening in the Terra ecosystem? Where’s it headed in 2023 and beyond? And is recovery really possible?
We will be discussing all of this and more throughout the article; let’s get started!
Table of Contents
What is Terra Luna Classic?
Terra Luna Classic and its LUNC Classic token are the original blockchain and token left over after the 2022 Terra blockchain LUNA/UST fork.
This fork happened because, back in early May 2022, Terra’s stablecoin lost its peg due to a combination of weaknesses in its architecture, token sell-offs and adverse market conditions, leading to a loss of around $40 billion in value.
The Terra story and what it could mean for stablecoins in general is both fascinating and concerning, and is covered in more depth here.This new blockchain is the partner blockchain of the Terra LUNA 2.0 chain, and its token is called LUNA.
Where to Buy LUNC
LUNC is traded on most large exchanges, including Binance, PancakeSwap (V2), Kraken, Gate.io, and Huobi Global.
Something worth noting is that users should be extremely careful when investing in crypto that has fallen in value as much as LUNC. In the wake of the 2022 events, many investors were left “holding the bag” that was LUNC and may be eager to move that crypto on.
So be careful when looking up where to buy Luna Classic. While it isn’t impossible that the token might recover to a small degree, it needs to be eyed skeptically, and you should never invest more than you can afford to lose.
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Is Luna Classic Dead?
Despite its dramatic fall in value from 2022, maybe people have been asking, is Luna classic dead? Well, despite the odds, Luna Classic is still alive.
The LUNC Token can be bought and traded on various exchanges and stored in Terra Luna Classic wallets. Major wallets that support LUNC include Metamask, Trust Wallet, and hardware wallets like the Ledger series.
So will Terra Luna Classic recover? While some believe a Terra Luna Classic $1! price point is on the horizon, others say Luna Classic is more of a dead coin walking.
The more balanced approach is that, through good management and token burns, LUNC should rally some value, but it is unlikely that it will ever reach $1 again.
LUNC Price Prediction 2025
While it’s impossible to say with any certainty what the LUNC price prediction is for 2025, we can however make some educated guesswork.
Crypto is often very responsive to “macroeconomics,” that is, large-scale events that impact global markets. Things like the war in Ukraine or COVID are macroeconomic events that impact capital as a whole, and as these events unfold, so too does their effect on the market.
What has also been predicted is that over the course of the next few years, many financial institutions will bring crypto more into the “fold” of traditional banking, creating what some people are already calling hybridized finance, or “Hy-Fi.”
LUNC’s price prediction for 2025 is hard, but LUNC price prediction 2030 is almost impossible. As a rule, the more long term a prediction is, the harder it is to be accurate with a Terra Luna Classic price prediction.
Terra Luna Classic Price Prediction 2023
Terra Luna Classic Price Prediction 2023, being more immediate, can be a little more straightforward.
Bitcoin, being the first and foremost crypto, holds an enormous amount of sway over the conditions of altcoins, therefore, Bitcoin price prediction is a very good place to start.
For a more in-depth article about BTC price prediction, check out this article.
Another way to gauge LUNC prices is by looking at its circulating supply. Market logic dictates that as supply goes down, its potential value should go up, as long as there is demand. Interestingly, LUNC is scheduled to burn a significant amount of its supply over the next few years.
Again, anyone offering a concrete Terra Luna Classic price prediction is merely guessing — however, what we can do is look at the factors involved in the project and overall market to get a better understanding of where things are headed.
Terra Luna Classic Burn
After the 2022 Terra scandal, a huge amount of Terra coin was minted, some estimates as high as 1700%, thus adversely affecting its overall value per token. One of the logical countermeasures to this minting is, of course, burning these extra tokens.
Token burning is the act of permanently destroying an amount of a token’s supply to drive up value. Terra Luna Classic crypto has a lot of burning scheduled for 2023 and beyond. At the time of writing, somewhere around 37 billion LUNC tokens have already been destroyed, with further LUNC burns scheduled.
So keep an eye out for further Terra Luna Classic news or Stocktwits LUNC for more info.
Do Kwon Net Worth
Do Kwon’s net worth has dropped from $3 billion prior to the stablecoin crash to an estimated $135 million.
Do Kwon is an infamous figure within the crypto space, with a notoriously arrogant tweeting style. Since then, Do Kwon has undergone a dramatic fall from grace, both in terms of public perception and personal wealth.
Do Kwon was arrested in Montenegro in March of 2023 and is currently facing an eight-count indictment by the US District Court.
Terra Luna Classic Price PredictionL: Will Luna Classic Reach $1
While it’s impossible to say what the future holds for LUNC, it would be fair to say that it is extremely unlikely that Luna Classic will reach $1.
For Luna Classic to reach as high as $1, it would have to increase in value somewhere around 8000 times, and at that valuation, its market cap would be worth more than Apple. This isn’t technically impossible; it’s just very unlikely.
However, this doesn’t necessarily mean that there isn’t some future for LUNC. With the combination of scheduled LUNC burns, new Terra ecosystem management, and an overall thawing of the crypto winter, it is indeed possible that LUNC could see a respectable upswing in value.
But probably not more than Apple any time soon.
Is Wrapped Luna Token a Good Investment?
Wrapped Luna Token is the ERC20 version of the LUNC token that allows Terra users to enact DeFi actions on the Ethereum chain. But is Wrapped Luna Token a good investment?
Wrapped Luna Token is as good of an investment as LUNC, which is a matter of opinion. However, it is considered extremely unlikely that Wrapped Luna will reach its previous value highs.
LUNC staking can still be done on various platforms, check out websites such as Terra Luna Classic Stocktwits, StakingRewards.com, or Allnodes for further info on how to stake LUNC or leads on where to stake LUNC.
Staking Terra Luna Classic can be done on Binance, Kraken, or CEX.
Where to Buy Terra Luna Classic
LUNC Tokens can be bought on various different platforms, check out Kraken, Gate.io, or Houbi for more info on where to buy Terra Luna Classic crypto or Terra Luna Classic staking.