Terra Luna Classic (LUNC): Price Prediction For 2023
✍️ 20 October, 2022 - 8:55 👤 Editor: Jakub Motyka
- Terra Classic (LUNC) has given much to talk about throughout 2022. After the collapse of LUNA and UST, its community is doing everything possible to recover the ecosystem.
- Will it continue to give what to talk about in the future? What is the Terra Luna Classic (LUNC) Price Prediction for 2023?
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Terra Luna Classic (LUNC), the ecosystem resulting from the fork of Terra after the collapse of UST, continues its fight for recovery, although the prediction of next year's value is positive. What is the Terra Luna Classic (LUNC) price prediction for 2023?
Throughout 2022, we have seen LUNC, formerly called LUNA, lose nearly 100% of its value overnight. As an apparent solution, the team at Terraform Labs performed a hard fork at a time prior to the disaster. But many users in the community opposed this move.
As such, the Terra and Terra Classic community has somewhat disassociated itself and gone its own way. The goal is the same, to make its ecosystem the same as always. However, in the case of LUNC, the large number of tokens issued during the collapse has been a big problem.
What Does Terra Luna Classic (LUNC) Need To Keep Rising In Price?
Let's remember that due to the huge supply of LUNC left by the decoupling of UST, its token has fallen almost 100% in value. For this, a 1.2% burn tax on all transactions was proposed.
Although on paper, it seemed efficient and could quickly reduce supply, the reality was different. In other words, the tax depends on the transaction volume of your token, but nobody is willing to operate in a ghost network without a good reason.
For this reason, one of the Terra Rebels developers, Edward Kim, has proposed the Terra Classic Grants program. This is an initiative to encourage the creation of new utilities for the LUNC ecosystem using part of the burning tax.
Terra Luna Classic (LUNC) Price Prediction For 2023
Currently, Terra Luna Classic (LUNC) is in the midst of a downtrend at $0.00024. Despite its latest increase, after the implementation of the burning tax, the price has continued to fall steadily.
However, with the new initiative for the implementation of new projects, the trend could be reversed at any time, which makes the price prediction for Terra Luna Classic positive.
Cryptocurrency market analysis for 2023 places the Terra Luna Classic (LUNC) price prediction between USD 0.000494 and USD 0.000618. However, this will only be possible if the cryptocurrency market recovers, and if LUNC gains more utility from new developments.
|Year||Terra Luna Classic (LUNC) Price Prediction|
|2023 (lowest prediction)||$0.000494|
|2023 (highest prediction)||$0.000618|
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- luna-lunc-burn-tax: Pixabay