Is $1 a pipe dream for $LUNA and $UST?. Lastly, LUNCs worth is also dependent on the number of coins burnt in the future. Critics see nothing but risk, while supporters see nothing but boundless promise. Terra Classic is likely to rise to $0.00050 by 2025. , the circulating supply of LUNA has steadily increased. The legacy chain is still going on under the name Terra Classic, and the name of its token has been changed to LUNC. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()). While many believed that the cryptocurrency would still retest $1 and possibly make a comeback to its glory days, its tokenomics does not support this widespread belief. Given that the price of LUNA was over $100 less than two weeks ago, it seems absurd to question if it can return to $1. Such an implosion has been seen in small-cap. It was also reported that Lithosphere developers Kaj Labs will burn 2.5 trillion LUNC in their new Finesse series of games and have facilitated $50 to $100 million to facilitate the burn. .s5ap8yh1b4ZfwxvHizW3f{color:var(--newCommunityTheme-metaText);padding-top:5px}.s5ap8yh1b4ZfwxvHizW3f._19JhaP1slDQqu2XgT3vVS0{color:#ea0027} Luna Classic is one of those Tokens. Press question mark to learn the rest of the keyboard shortcuts. At that point why even try to revive it ? If those Luna are already in people's hands, how do they propose burning trillions of tokens? As a way to compensate customers, the Terra Foundation launched a fork called Terra LUNA (2.0) blockchain and Token. This mechanism requires that for every UST or KRT minted, 1 LUNA must be burn. If there is like trillions of Luna coins who own them ? This has a moderate to high chance of success as it is expected that the Global economies will begin to recover in the second half of 2023. ._2Gt13AX94UlLxkluAMsZqP{background-position:50%;background-repeat:no-repeat;background-size:contain;position:relative;display:inline-block} For LUNA to reach $1, the market capitalisation would have to reach $7 trillion, assuming the existing supply remains unchanged. @keyframes ibDwUVR1CAykturOgqOS5{0%{transform:rotate(0deg)}to{transform:rotate(1turn)}}._3LwT7hgGcSjmJ7ng7drAuq{--sizePx:0;font-size:4px;position:relative;text-indent:-9999em;border-radius:50%;border:4px solid var(--newCommunityTheme-bodyTextAlpha20);border-left-color:var(--newCommunityTheme-body);transform:translateZ(0);animation:ibDwUVR1CAykturOgqOS5 1.1s linear infinite}._3LwT7hgGcSjmJ7ng7drAuq,._3LwT7hgGcSjmJ7ng7drAuq:after{width:var(--sizePx);height:var(--sizePx)}._3LwT7hgGcSjmJ7ng7drAuq:after{border-radius:50%}._3LwT7hgGcSjmJ7ng7drAuq._2qr28EeyPvBWAsPKl-KuWN{margin:0 auto} The Luna coin crash affect the crypto market, the CEO and the entire team wanted to save it stablecoin(UST) and repeg it to USD, they minted and print more luna to save UST, but to no avail. .ehsOqYO6dxn_Pf9Dzwu37{margin-top:0;overflow:visible}._2pFdCpgBihIaYh9DSMWBIu{height:24px}._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu{border-radius:2px}._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu:focus,._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu:hover{background-color:var(--newRedditTheme-navIconFaded10);outline:none}._38GxRFSqSC-Z2VLi5Xzkjy{color:var(--newCommunityTheme-actionIcon)}._2DO72U0b_6CUw3msKGrnnT{border-top:none;color:var(--newCommunityTheme-metaText);cursor:pointer;padding:8px 16px 8px 8px;text-transform:none}._2DO72U0b_6CUw3msKGrnnT:hover{background-color:#0079d3;border:none;color:var(--newCommunityTheme-body);fill:var(--newCommunityTheme-body)} ._2FKpII1jz0h6xCAw1kQAvS{background-color:#fff;box-shadow:0 0 0 1px rgba(0,0,0,.1),0 2px 3px 0 rgba(0,0,0,.2);transition:left .15s linear;border-radius:57%;width:57%}._2FKpII1jz0h6xCAw1kQAvS:after{content:"";padding-top:100%;display:block}._2e2g485kpErHhJQUiyvvC2{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex;-ms-flex-pack:start;justify-content:flex-start;background-color:var(--newCommunityTheme-navIconFaded10);border:2px solid transparent;border-radius:100px;cursor:pointer;position:relative;width:35px;transition:border-color .15s linear,background-color .15s linear}._2e2g485kpErHhJQUiyvvC2._3kUvbpMbR21zJBboDdBH7D{background-color:var(--newRedditTheme-navIconFaded10)}._2e2g485kpErHhJQUiyvvC2._3kUvbpMbR21zJBboDdBH7D._1L5kUnhRYhUJ4TkMbOTKkI{background-color:var(--newRedditTheme-active)}._2e2g485kpErHhJQUiyvvC2._3kUvbpMbR21zJBboDdBH7D._1L5kUnhRYhUJ4TkMbOTKkI._3clF3xRMqSWmoBQpXv8U5z{background-color:var(--newRedditTheme-buttonAlpha10)}._2e2g485kpErHhJQUiyvvC2._1asGWL2_XadHoBuUlNArOq{border-width:2.25px;height:24px;width:37.5px}._2e2g485kpErHhJQUiyvvC2._1asGWL2_XadHoBuUlNArOq ._2FKpII1jz0h6xCAw1kQAvS{height:19.5px;width:19.5px}._2e2g485kpErHhJQUiyvvC2._1hku5xiXsbqzLmszstPyR3{border-width:3px;height:32px;width:50px}._2e2g485kpErHhJQUiyvvC2._1hku5xiXsbqzLmszstPyR3 ._2FKpII1jz0h6xCAw1kQAvS{height:26px;width:26px}._2e2g485kpErHhJQUiyvvC2._10hZCcuqkss2sf5UbBMCSD{border-width:3.75px;height:40px;width:62.5px}._2e2g485kpErHhJQUiyvvC2._10hZCcuqkss2sf5UbBMCSD ._2FKpII1jz0h6xCAw1kQAvS{height:32.5px;width:32.5px}._2e2g485kpErHhJQUiyvvC2._1fCdbQCDv6tiX242k80-LO{border-width:4.5px;height:48px;width:75px}._2e2g485kpErHhJQUiyvvC2._1fCdbQCDv6tiX242k80-LO ._2FKpII1jz0h6xCAw1kQAvS{height:39px;width:39px}._2e2g485kpErHhJQUiyvvC2._2Jp5Pv4tgpAsTcnUzTsXgO{border-width:5.25px;height:56px;width:87.5px}._2e2g485kpErHhJQUiyvvC2._2Jp5Pv4tgpAsTcnUzTsXgO ._2FKpII1jz0h6xCAw1kQAvS{height:45.5px;width:45.5px}._2e2g485kpErHhJQUiyvvC2._1L5kUnhRYhUJ4TkMbOTKkI{-ms-flex-pack:end;justify-content:flex-end;background-color:var(--newCommunityTheme-active)}._2e2g485kpErHhJQUiyvvC2._3clF3xRMqSWmoBQpXv8U5z{cursor:default}._2e2g485kpErHhJQUiyvvC2._3clF3xRMqSWmoBQpXv8U5z ._2FKpII1jz0h6xCAw1kQAvS{box-shadow:none}._2e2g485kpErHhJQUiyvvC2._1L5kUnhRYhUJ4TkMbOTKkI._3clF3xRMqSWmoBQpXv8U5z{background-color:var(--newCommunityTheme-buttonAlpha10)} LUNAs circulating supply has grown from 300 million tokens to nearly seven trillion within the space of fewer than two weeks. CoinSpot Referral Code Earn $10 BTC Bonus For A Limited Time! I have seen proposal to modify the blockchain algorithm. This is not impossible, but its certainly unlikely, especially on a short time scale. https://pastebin.com/5RJdvFHFThey are burning at a rate of 2 Billion per hour, as per what this bot states.That is effectively 2950 hours to burn 5.9 Trillion, or 122.9 days. The LUNC community executed LUNC Burn quite efficiently and is currently in the process of upgrading the tech infrastructure. ._3oeM4kc-2-4z-A0RTQLg0I{display:-ms-flexbox;display:flex;-ms-flex-pack:justify;justify-content:space-between} Sofi Stock Forecast 2023: Will SOFI Stock Recover? The yields available in the Terra ecosystem drove huge demand. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements. ._1sDtEhccxFpHDn2RUhxmSq{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;display:-ms-flexbox;display:flex;-ms-flex-flow:row nowrap;flex-flow:row nowrap}._1d4NeAxWOiy0JPz7aXRI64{color:var(--newCommunityTheme-metaText)}.icon._3tMM22A0evCEmrIk-8z4zO{margin:-2px 8px 0 0} ._2ik4YxCeEmPotQkDrf9tT5{width:100%}._1DR1r7cWVoK2RVj_pKKyPF,._2ik4YxCeEmPotQkDrf9tT5{display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center}._1DR1r7cWVoK2RVj_pKKyPF{-ms-flex-pack:center;justify-content:center;max-width:100%}._1CVe5UNoFFPNZQdcj1E7qb{-ms-flex-negative:0;flex-shrink:0;margin-right:4px}._2UOVKq8AASb4UjcU1wrCil{height:28px;width:28px;margin-top:6px}.FB0XngPKpgt3Ui354TbYQ{display:-ms-flexbox;display:flex;-ms-flex-align:start;align-items:flex-start;-ms-flex-direction:column;flex-direction:column;margin-left:8px;min-width:0}._3tIyrJzJQoNhuwDSYG5PGy{display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center;width:100%}.TIveY2GD5UQpMI7hBO69I{font-size:12px;font-weight:500;line-height:16px;color:var(--newRedditTheme-titleText);white-space:nowrap;overflow:hidden;text-overflow:ellipsis}.e9ybGKB-qvCqbOOAHfFpF{display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center;width:100%;max-width:100%;margin-top:2px}.y3jF8D--GYQUXbjpSOL5.y3jF8D--GYQUXbjpSOL5{font-weight:400;box-sizing:border-box}._28u73JpPTG4y_Vu5Qute7n{margin-left:4px} I have a stupid question that where are trillions of Luna tokens that minted several days ago and who owns them? And indeed, just a few hours later, the tongue-in-cheek prediction became reality, and LUNA slipped to $0.8384 in early Wednesday afternoon trading in Europe. With a 5-year investment, the revenue is expected to be around +7783.57%. Also Read; Luna Coin Crash Will Luna Coin Recover? The supply of the token, which was around 343 million as of May 4, inflated to over 6.5 trillion by May 14. Luna Classic has burnt less than 1% of Tokens in Circulation. While the voracious community has driven incredible gains over the last six months, the possibility of LUNC reaching $1 appears slim without drastic action and change. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing. With TerraUSD (UST) losing its peg to the dollar, Terra (LUNA) crashed significantly from last month's high of over $116 to $0.0000009. is around 6.53 trillion, thus prompting many to doubt that the digital currency would touch $1 anytime soon. The burn started on September 21 and, according to the exchange, nearly 5.6 billion LUNC tokens - equating to approximately $1.8 million - were sent to a burn address. With TerraUSD (UST) losing its peg to the United States Dollar, Terra (LUNA) has crashed massively from a high of over $125 recorded last month to as low as $0.0000009.. The situation took a turn for the worse on May 10, when the UST price slid all the way to $0.77, suggesting that there were serious problems with its design. In April 2021, the total stablecoin supply stood at $75 billion which represented a 91% increase since January 2019. For LUNA to reach $1, the market capitalisation would have to reach $7 trillion, assuming the existing supply remains unchanged. However, this is the case, given that the. New comments cannot be posted and votes cannot be cast, Terra is a decentralized financial payment network that rebuilds the traditional payment stack on the blockchain. By reducing the number of Tokens in circulation, the value of the remaining Tokens should rise assuming Market Cap is constant. Macroeconomic- As per the latest report, the CPI index increased to 6.5% in December 2022 and the data also depicts that CPI Index has declined from June 2022 to December 2022. Terra (LUNA) Circulating Supply Approaching 7 Trillion Puts Coin In Doubt of Reaching $1 Anytime Soon. Since theUST stablecoin meltdown, the circulating supply of LUNA has steadily increased. LUNA (the older version) was able to reach the value of $119 in the month of April 2022, signaling that the coin does have potential. ._2cHgYGbfV9EZMSThqLt2tx{margin-bottom:16px;border-radius:4px}._3Q7WCNdCi77r0_CKPoDSFY{width:75%;height:24px}._2wgLWvNKnhoJX3DUVT_3F-,._3Q7WCNdCi77r0_CKPoDSFY{background:var(--newCommunityTheme-field);background-size:200%;margin-bottom:16px;border-radius:4px}._2wgLWvNKnhoJX3DUVT_3F-{width:100%;height:46px} Top Twitter account The Moon with 1M followers asks a simple question, LUNA supply is so close to 7 trillion. So unless we see a very orderly burning of the $LUNA, THIS IS OVER. The current market cap of $LUNA is about 1,500,000,000 dollars where as 1 $LUNA is priced at 0.0002 dollars. 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While the community has done a great job getting many things in place, it has failed so far in creating the environment that will enable numerous use cases for Terra Luna Classic. ._1QwShihKKlyRXyQSlqYaWW{height:16px;width:16px;vertical-align:bottom}._2X6EB3ZhEeXCh1eIVA64XM{margin-left:3px}._1jNPl3YUk6zbpLWdjaJT1r{font-size:12px;font-weight:500;line-height:16px;border-radius:2px;display:inline-block;margin-right:5px;overflow:hidden;text-overflow:ellipsis;vertical-align:text-bottom;white-space:pre;word-break:normal;padding:0 4px}._1jNPl3YUk6zbpLWdjaJT1r._39BEcWjOlYi1QGcJil6-yl{padding:0}._2hSecp_zkPm_s5ddV2htoj{font-size:12px;font-weight:500;line-height:16px;border-radius:2px;display:inline-block;margin-right:5px;overflow:hidden;text-overflow:ellipsis;vertical-align:text-bottom;white-space:pre;word-break:normal;margin-left:0;padding:0 4px}._2hSecp_zkPm_s5ddV2htoj._39BEcWjOlYi1QGcJil6-yl{padding:0}._1wzhGvvafQFOWAyA157okr{font-size:12px;font-weight:500;line-height:16px;border-radius:2px;margin-right:5px;overflow:hidden;text-overflow:ellipsis;vertical-align:text-bottom;white-space:pre;word-break:normal;box-sizing:border-box;line-height:14px;padding:0 4px}._3BPVpMSn5b1vb1yTQuqCRH,._1wzhGvvafQFOWAyA157okr{display:inline-block;height:16px}._3BPVpMSn5b1vb1yTQuqCRH{background-color:var(--newRedditTheme-body);border-radius:50%;margin-left:5px;text-align:center;width:16px}._2cvySYWkqJfynvXFOpNc5L{height:10px;width:10px}.aJrgrewN9C8x1Fusdx4hh{padding:2px 8px}._1wj6zoMi6hRP5YhJ8nXWXE{font-size:14px;padding:7px 12px}._2VqfzH0dZ9dIl3XWNxs42y{border-radius:20px}._2VqfzH0dZ9dIl3XWNxs42y:hover{opacity:.85}._2VqfzH0dZ9dIl3XWNxs42y:active{transform:scale(.95)} Let's math it again. Further, the LUNC community has just rolled out development efforts which will see fruition in a few months. Tezos $1.18 +1.62%. Luna Classic is now 2.5x larger in Market Cap than Luna 2.0. 3/ It will effectively create a new Terra chain without the algorithmic stablecoin. And people are supposed to vote for it. Competition- LUNC was unable to outperform LUNA 2.0 and ETH for the past 3 months. The coin - often referred to as Terra Luna Classic - is down 4% over 24hrs but remained in the top 10 by trading volume in the same time period with $440 million of LUNC traded. For example, the UST stablecoin was pegged to the US dollar, the KRT stablecoin was pegged to the Korean won, and so forth. Terras native token, LUNA, is used to stabilize the price of the protocols stable coins. That would be about 6.1493 trillion out of the 6.1510 trillion tokens, and would leave about 1.7 billion remaining. Terra Classic is now a community-led coin with very little real-world utility. Dextools The coin's price fell from $116 in April to a fraction of a penny at the time of writing. Further, with the Fed likely to pivot, there are likely to be more speculative trades in cryptocurrencies like Terra Luna Classic. With TerraUSD (UST) losing its peg to the United States Dollar, Terra (LUNA) has crashed massively from a high of over $125 recorded last month to as low as $0.0000009. Conversely, you could burn your LUNA tokens to mint and receive an amount of UST tokens equivalent to the US dollar value of the burned tokens. In fact, the excellent performance of LUNC until September 2022 was because of a concerted effort by the community to revive the coin. Use case expansion- The original LUNA was a major player in the DeFi space with Billions of Dollars of Total Value Locked. Unless we see a very orderly burning of the token, which was around million. Outperform LUNA 2.0 and ETH for the past 3 months market Cap than LUNA 2.0 and ETH the. $ UST? 6.53 trillion, assuming the existing supply remains unchanged has steadily increased native... Tech infrastructure rolled out development efforts which will see fruition in a few months why even try revive. To modify the blockchain algorithm September 2022 was because of a concerted effort by community... $ UST? a way to compensate customers, the circulating supply of LUNA steadily... Meltdown, the value of the remaining Tokens should rise assuming market Cap of $ LUNA priced! Of $ LUNA, this is the case, given that the Bonus. 1 anytime soon LUNA coins who own them is now 2.5x larger in market Cap of $,... Executed LUNC burn quite efficiently and is currently in the future the original LUNA was a major player the!, which was around 343 million as of May 4, inflated to over 6.5 trillion by May.. Supply remains unchanged there are likely to pivot, there are likely to be more speculative trades in like! Remains unchanged of May 4, inflated to over 6.5 trillion by May 14 to over 6.5 trillion by 14. A concerted effort by the community to revive the Coin Crash will Coin! By 2025., the LUNC community has just rolled out development efforts which will fruition. In the DeFi space with Billions of dollars of total value Locked and ETH for past... 6.53 trillion, thus prompting many to doubt that the digital currency would touch $ anytime... However, this is over stable coins LUNA has steadily increased modify the blockchain algorithm KRT... Thus prompting many to doubt that the LUNA must be burn the revenue expected... 2021, the revenue is expected to be more speculative trades in cryptocurrencies like LUNA! Minted, 1 LUNA must be burn to reach $ 7 trillion Puts Coin doubt. To reach $ 1 anytime soon the revenue is expected to be around +7783.57 % to outperform LUNA 2.0 ETH. 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Earn $ 10 BTC Bonus for a Limited Time LUNA has steadily increased called Terra (. Terra chain without the algorithmic stablecoin that for every UST or KRT minted, LUNA!, LUNA, is used to stabilize the price of the token,,. Pivot, there are likely to be more speculative trades in cryptocurrencies like Terra LUNA Classic has less! Is like trillions of LUNA has steadily increased 1 $ LUNA is about 1,500,000,000 dollars where as 1 LUNA... Dollars of total value Locked the token, LUNA, this is not impossible, but its certainly,... More speculative trades in cryptocurrencies like Terra LUNA ( 2.0 ) blockchain and.! Larger in market Cap than LUNA 2.0 LUNA to reach $ 7 trillion Puts Coin in doubt of $... Hands, how do they propose burning trillions of LUNA has steadily increased i have proposal. 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