News
Terra Classic Price Prediction | Is LUNC a Good Investment?
Given the changes this year, what do Terra Classic’s latest price predictions suggest about its future?
Over the last 12 months, Terra Classic (LUNCH) has experienced significant price swings and token burn. And while market trends are mixed, many observers believe that strong community support could help the token recover and grow again in 2024 and beyond.
Several optimistic Terra Classic predictions even predict the coin to hit $1. With that in mind, this article will consider the future of the LUNC coin, examining its performance over the past year and echoing algorithmic projections made by CoinCodex and Traders Union.
What is Terra Classic?
Terra Classic is a blockchain protocol designed for global payments via stablecoins. It runs on a test of participation (PoS) whose native token is LUNC.
The token, originally called Terra (LUNA), was developed by Terraform Labs, co-founded by Do Kwon and Daniel Shin. However, in May 2022, LUNA crashed dramatically after its twin stablecoin, TerraUSD (UST), lost its peg.
After the collapse, Terraform Labs launched a new blockchain called Terra 2.0, renaming the original blockchain to Terra Classic. The native token LUNA has also been renamed to LUNC, although some in the crypto community refer to it as Terra Luna Classic.
The Terra community is now working to revive LUNC by burning tokens to create scarcity and maintain its value.
Current Market Overview
At the time of writing, Terra Classic was trading at $0.00008235 with a 24-hour trading volume of $24.79 million. Its market cap is currently $452.6 million, with a market dominance of 0.02%.
Terra Classic reached its highest price of $119.18 on April 5, 2022, and its lowest price of $0.00001675 on May 13, 2022. Since then, the highest it has reached is $0.00059. Currently, according to CoinCodex, the sentiment around LUNC is neutral, but the Fear & Greed Index predicts fear at 40.
Terra Classic has a circulating supply of 5.49 trillion LUNC out of a maximum supply of 6.783 trillion LUNC. Over the past 1 year, supply has decreased by 0.68%, removing 39.77 billion LUNC from circulation.
Combustion activity
Recent LUNC news shows that the token continues to experience significant burn, with the latest metrics showing solid daily burn activity.
At the time of writing, the total burn rate has reached 123,763,780,098 LUNC. Additionally, last week, cumulative burn totaled 7.01 billion LUNC, averaging about 1 billion LUNC per day.
The 30 days metrics show 9.82 billion LUNC burned, averaging about 327.1 million LUNC per day. These figures highlight ongoing efforts to reduce supply and increase potential value.
Recent Market Trends
In 30 days, Terra Classic has seen a 27.2% decline according to CoinGecko. It has also lost nearly 12% of its value in the past seven days. However, a 2.2% price increase in the previous 24 hours may underscore a cautiously optimistic outlook among investors amid market volatility.
LUNC Price Chart 24 hours | Source: CoinGecko
At that time, Terra Classic was trading between $0.00008009 and $0.00008409, reflecting weak signs of a possible uptrend.
Overall, LUNC’s recent price movement is part of a larger trend affecting most cryptocurrencies. Major assets such as Bitcoin (BTC) and Ethereum (ETH) also recorded price adjustments, indicating market-wide corrections.
These trends suggest that LUNC’s recent decline may have been influenced by general investor sentiment and macroeconomic factors affecting the cryptocurrency industry as a whole.
Terra Classic Price Prediction: Short-Term Outlook
Given current market conditions and performance indicators, it is unlikely that LUNC will reach $1 anytime soon, as suggested in some quarters.
Despite high liquidity and a negative annual inflation rate of -0.68%, the price of LUNC has decreased by 10.3% over the past year.
Furthermore, CoinGecko data shows that it has underperformed 88% of the top 100 cryptocurrencies and major cryptocurrencies such as BTC and ETH.
However, CoinCodex’s short-term LUNC forecast has the token price increasing as much as 10.71% and is expected to reach $0.00008987 by the end of July.
For its part, Traders Union’s LUNC cryptocurrency forecast predicts the token to trade between $0.000075 and $0.0000916 in July. The financial website also sees LUNC’s minimum target price for December 2024 at $0.0000816, with expectations of reaching a high of $0.0000997.
LUNC Price Prediction 2025
Looking ahead, what does the future hold for Terra Classic? Let’s dive into the LUNC price forecast for 2025 and beyond.
CoinCodex predicts that Terra Classic will surpass $0.000215 and maintain its market position by 2025, with the lowest price expected at $0.00006965.
For its part, Traders Union predicts an average price of $0.00010026 by mid-2025 and $0.00011091 by the end of the year.
Long-term outlook
Terra Classic Price Prediction 2026-2029
Beyond 2025, CoinCodex’s Luna Classic forecast sees the token fluctuating between a low of $0.00006182 and a high of $0.000242 in 2026.
Traders Union forecasts estimate the mid-year LUNC price in 2026 at $0.00012272, with the possibility of reaching $0.00013578 by the end of the year.
Another cryptocurrency price analysis website, PricePrediction, is more optimistic about the future of LUNC coin, predicting that it will trade at an average of $0.000324 in 2026 and will fluctuate between a high of $0.000366 and a low of $0.000316.
Between 2027 and 2029, Terra Classic price predictions range from a low of $0.00006182 in 2027 by CoinCodex to a peak of $0.0011 in 2029 by PricePrediction.
Terra Classic Price Prediction 2030-2040
PricePrediction has predicted that the value of Classic Earth could reach $0.0016 in 2030. However, CoinCodex predicts a more modest peak of $0.00058 by the end of that year.
Traders Union forecasts are even more cautious, setting the maximum price of LUNC in 2030 at $0.00030496.
The same website estimates that the future price of the LUNC coin, especially around 2040, could fluctuate around the $0.00230527 level, depending on the market conditions.
For its part, PricePrediction paints a much rosier picture, indicating that Terra Classic could go from a low of $0.0014 in 2030 to a high of $0.1334 in 2040, an increase of nearly 9,500% in 10 years.
Ultimately, none of the algorithmic forecasts predict LUNC to surpass the $1 level by 2040. Currently, the most promising future projection for the LUNC coin only predicts it to reach the 1 cent level in the next 10 years.
Is LUNC a good investment?
As we conclude our analysis, it is essential to consider whether LUNC is a good investment. While there is potential for significant returns, the future of LUNC is highly speculative.
The period from 2024 to 2030 is set to be crucial for the growth trajectory of Terra Classic. Strong community support and continued LUNC token burning could drive its price higher, but various factors could also lead to volatility.
Regulatory changes, technological advances, market sentiment and macroeconomic trends could play a crucial role in shaping the trajectory of LUNC.
Additionally, if the Terra Classic community can effectively convey the security of LUNC to the broader cryptocurrency community, adoption could increase and lead to a price increase.
On the other hand, any negative publicity, such as that of Terraport Finance violation, U.S. Securities and Exchange Commission (SEC) fraud accusations against Terraform Labs following its bankruptcy, or the delisting of Terra Classic by Crypto.com, could lead to further sell-offs and discourage new investors.
It also remains to be seen whether Terra Classic’s quant team can re-peg their USTC stablecoin. While that is a formidable challenge, doing so would inject renewed excitement into the ecosystem.
Therefore, while the outlook is promising, investors should approach it with caution. Be sure to conduct thorough research, keep an eye on the latest LUNC news, and consult with financial professionals before making any investment decisions.
Disclosure: This article does not constitute investment advice. The content and materials on this page are for educational purposes only.
Frequent questions
Is Terra Classic (LUNC) a good investment?
Currently, algorithmic predictions for LUNC regarding its future direction are very mixed. Whether or not it might be a good short-term or long-term investment for you will ultimately depend on your investment goals, portfolio spread, and risk tolerance, among other factors.
Will the LUNC value go up or down?
It is impossible to say for sure. Cryptocurrencies are volatile by nature and Terra Classic has a very erratic price history. Its future direction will depend on a number of factors, including market sentiment and news surrounding the cryptocurrency.
Should I invest in Terra Classic?
Investing in Terra Classic comes with both potential rewards and significant risks. The token has seen significant price fluctuations and a dramatic crash in 2022.
Additionally, the future of LUNC is highly speculative, influenced by market sentiment, regulatory changes, and technological advances. It is important to conduct thorough research and consult with financial professionals before making any investment decisions.
Will LUNC ever recover?
LUNC has shown signs of recovery, boosted by community support and continued token write-downs aimed at reducing supply and increasing value.
While short-term forecasts from sources such as CoinCodex and Traders Union suggest modest price increases, the long-term outlook remains uncertain.
Recovery to previous highs is difficult but not impossible if the community continues to engage and overall market conditions improve.
Can LUNC reach 1 cent?
Reaching 1 cent is an ambitious goal for LUNC, given its current price of around $0.00008235. Various analysts’ forecasts point to a gradual increase in price, but no one expects LUNC to reach 1 cent in the near future.
To achieve this milestone, LUNC will need to make significant progress in the ecosystem, increase adoption, and experience positive market trends.
Is LUNC dead?
No, LUNC is not dead. Despite the collapse of the original Terra (LUNA) and the associated challenges, the Terra Classic community remains active, with ongoing efforts to revive the token through burning and other initiatives.