Terra Luna Classic (LUNC) Crypto, Will It Get Back To $0.0003? Price Prediction Today
✍️ 17 October, 2022 - 17:21 👤 Editor: Jakub Motyka
- The price of Luna Classic has been falling in recent days.
- However, with the start of the week, new scenarios arise for LUNC and the general cryptocurrency market.
- What will happen to LUNC? Will it continue to go down or will it recover $0.0003?
Luna Classic (LUNC), the token resulting from the Terra fork, has been in a strong downtrend in recent days, maintaining a low price. However, the start of the new week presents us with other scenarios for the token and the market in general. What will happen to LUNC? Will the uptrend resume or are we facing a possible bull trap?
Let's remember that at the beginning of May, Terra's ecosystem suffered a strong fall that made it lose 100% of its value. This, because its algorithmic stablecoin, UST, fell into the so-called “death spiral”. As a result of this, the Terraform Labs team decided to hard fork the network at a time prior to the cataclysm. As a result, the Terra Classic (LUNC) network was left in the hands of the anti-fork community, dubbed the Terra Rebels.
What Happened To Terra Classic (LUNC)?
To reduce the excessive supply of LUNC, the Terra Classic community decided to implement a transaction tax. However, the levels of burning produced by the measure have not been as expected. For this reason, Terra Rebels has begun to propose new solutions to speed up the process. Instead of a chain tax, the team points to the need to develop multiple utilities and DApps that give the network and its token greater utility.
According to proposal 5234 made by a part of the community, the LUNC burn tax will be reduced to 0.2% and 10% will be given to a development fund. Added to this is a program to supervise the use of funds in a transparent and efficient manner, for the creation of new applications in Terra Classic.
Analysis And Predictions For Luna Classic (LUNC)
The LUNC community is doing everything possible to give Terra Classic a new boost. To do this, they have started asking different exchanges, such as Robinhood, to list their token.
Currently, the price of LUNC is in the range of 0.000264, after a rebound in 0.000255. If there is a major fundamental like the LUNC listing on Robinhood, we could see LUNC going back to the 0.0003 area. Otherwise, its price will continue to fall along with the volume.
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