The Terra Luna Classic price has dropped by 0.5% in the past 24 hours, with its current level of $0.00017176 representing a 2% increase in the past week and a 6% jump in the past fortnight. However, with its community still debating future improvements, and with the FTX collapse still weighing down sentiment, LUNC has dropped by 10% in the last 30 days.
Assuming that the Terra Luna Classic community, its developers, and validators can agree on a strategy for restoring LUNC to its former value, there’s every chance that the altcoin could enjoy a strong run during the next bull market. On the other hand, division and disagreement may mean that it continues to stutter between recovery and further losses for some time to come.
Terra Luna Classic Price Prediction – Can LUNC Hit $10 in the Next Bull Market?
LUNC’s indicators signal a coin that has been on a decline for the past few weeks, with its 30-day moving average (red) still well below its 200-day average (blue). Likewise, its relative strength index (purple) has fallen to 40, highlighting a shift more towards selling in recent days.
On the other hand, the fact that these indicators are near a bottom likely means that LUNC is due a rebound anytime soon. This may have begun just now, with the coin’s slight upwards shift in the past few hours potentially the start of a new short-term rally.
Compared to a couple of weeks ago, LUNC is actually in a fairly decent position, largely because the start of the month brought news of Binance’s revealing the results of its latest LUNC burn. According to the exchange, it took nearly 6.4 billion LUNC out of circulation in the past month, something which caused the coin to rise by as much as 19% on the day these latest figures were revealed.
As such, hope remains that LUNC’s supply will continue steadily declining over the long term, with its price correspondingly moving up. To date, Binance has burned 13.7 billion LUNC, while the overall burn count for LUNC now stands at 35.7 billion.
While the total supply of circulating LUNC remains as high as 6.87 trillion, there’s the general assumption that quantities burned will gradually increase each month, as more platforms introduce their own burns and as usage of Terra Luna Classic rises (the protocol itself now carries out a tax burn of 0.2% on all on-chain transactions).
That said, dissent and dissatisfaction have emerged in the wake of yesterday’s approval of a proposal to send half of the 0.2% on-chain burn to a community pool for developers. The idea behind this change was to fund more Terra Luna Classic network development, making it more usable and attractive as a platform.
Some community members believe this change will merely keep more LUNC in circulation, thereby undermining the effort to reduce supply and boost the altcoin’s price.
Such debate and disagreement highlight the big differences that exist within the Terra Luna Classic community. Much the same also applied to an earlier proposal regarding a ‘merge’ with Terra 2.0, which would have enabled users to swap LUNC for the newer LUNA.
Given the extent to which there’s a fundamental disagreement on how best to rebuild Terra Luna Classic (i.e. between boosting development and restricting supply), it’s debatable as to whether LUNC’s price will ever get close to whole numbers.
Even with an increase to $1, this would require an increase of close to 600,000% over LUNC’s current price. As for $10, this would mean a surge of about 5,800,000%.
Bear in mind that, at the highest point of its resurgence in early September (when the tax burn was first announced), LUNC improved on its all-time low by ‘only’ 51,000%. In other words, a 600,000% or even 5,800,000% increase over its current level seems highly ambitious, and would likely necessitate a very long-term game.
That’s not to say it isn’t possible, but with a total supply of around 6.873 trillion and a burn rate of roughly 12 billion LUNC per month, LUNC holders should begin by setting their sights on more achievable price targets.
Coins offering more immediate returns
Given that LUNC’s renaissance is really a long-term endeavor, traders may prefer to look at coins that have better prospects of more immediate rallies.
For example, presale coins have had an impressive 2022, with Tamadoge (TAMA) rising by as much as 1,800% after listing for the first time in October. More impressively, Lucky Block (LBLOCK) and Battle Infinity (IBAT) witnessed increases as high as 6,000% and 3000% during the summer, compared to their initial presale prices of $0.00015.
This shows what the right presales can achieve. Accordingly, here are three of the most promising sales happening right now, with each corresponding coin boasting strong fundamentals and a clear roadmap.
IMPT (IMPT) – Ending in 2 days
Also based on Ethereum, IMPT is a carbon-credit marketplace that will reward consumers for shopping with eco-friendly merchants. These rewards will arrive in the form of its IMPT token, which can be used to buy NFT-based carbon offsets that can be traded or retired.
Since opening its sale in October, IMPT has raised more than $16.6 million. Its sale will end in just under 3 days, with 1 IMPT currently being sold at a price of $0.023. It has listings confirmed for Uniswap, LBANK Exchange and Changelly Pro.
Visit IMPT Now
Dash 2 Trade (D2T) – Presale enters final stage
Running on Ethereum, Dash 2 Trade is a trading intelligence platform that offers investors real-time analytics and social trading data, helping them make more informed trading decisions. It will go live in early 2023, with its D2T token being used to pay for the monthly subscription fees to its platform (there are two subscription tiers).
Dash 2 Trade’s presale has already raised more than $9 million and is now in its fourth (and final) stage, giving early investors a limited window of opportunity to grab some D2T before the coin lists. It will be doing this on Uniswap, BitMart and LBANK Exchange, providing early buyers with plenty of liquidity to exit into.
Visit Dash 2 Trade Now
Calvaria (RIA) is a game in which players can collect, trade and do battle with NFT-based cards. In addition to offering numerous play-to-earn features, it will also enable users to play it without holding any cryptocurrency, something which could make it more popular than other blockchain-based titles.
RIA will be used within its ecosystem for purchasing in-game items and for staking, giving it a strong use case. The presale for the token has raised $2.3 million and is currently in its fifth stage, with 1 USDT buying 30.77 RIA.
Visit Calvaria Now
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