#IntroToCopytrading #BinanceTournament #Megadrop #MicroStrategy #EarnFreeCrypto2024 In the last 12 months, Terra Classic (LUNC) has experienced notable price swings and token burns. And while market trends are mixed, many observers feel that strong community support might help the token recover and rise again in 2024 and beyond. 

Several optimistic Terra Classic predictions even project the coin reaching $1. With that in mind, this article will consider the LUNC coin future, looking at its performance over the last year and echoing algorithmic projections made by the likes of CoinCodex and Traders Union.

What is Terra Classic?

Terra Classic is a blockchain protocol designed for global payments using stablecoins. It operates on a proof-of-stake (PoS) consensus, with its native token being 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 collapsed dramatically after its sister stablecoin, TerraUSD (UST), lost its peg.

Following the collapse, Terraform Labs launched a new blockchain called Terra 2.0, renaming the original blockchain to Terra Classic. The native LUNA token was also rebranded as LUNC, although some members of the crypto community call it Terra Luna Classic.

The Terra community is now working to revive LUNC by burning tokens to create scarcity and maintain its value.

Current market snapshot

At the time of writing, Terra Classic was priced at $0.00008235 with a 24-hour trading volume of $24.79 million. Its market cap currently stands at $452.6 million, holding a market dominance of 0.02%.

Terra Classic hit its peak price of $119.18 on April 5, 2022, and its lowest price of $0.00001675 on May 13, 2022. Since then, the highest it reached was $0.00059. Currently, per CoinCodex, sentiment around LUNC is neutral, but the Fear & Greed Index portends fear at 40.

The circulating supply of Terra Classic is 5.49 trillion LUNC out of a maximum supply of 6.783 trillion LUNC. Over the past year, the supply decreased by 0.68%, removing 39.77 billion LUNC from circulation.

Burn activity

Recent LUNC news shows that the token is continuing to experience significant burns, with the latest metrics showing robust daily burn activity. 

At the time of writing, the total burn rate had reached 123,763,780,098 LUNC. Additionally, in the past week, the cumulative burn totaled 7.01 billion LUNC, averaging approximately 1 billion LUNC daily. 

The 30-day metrics show 9.82 billion LUNC burned, averaging about 327.1 million LUNC daily. These figures highlight ongoing efforts to reduce supply and increase potential value.

Over 30 days, Terra Classic experienced a 27.2% decline per CoinGecko. It also lost nearly 12% of its value across the last seven days. However, a 2.2% price increase in the previous 24 hours may underscore a cautiously optimistic expectation among investors amid market volatility.

At that time, Terra Classic traded between $0.00008009 and $0.00008409, reflecting the faint hoofbeats of a possible bullish trend. 

Overall, LUNC’s recent price movement is part of a larger trend affecting most cryptocurrencies. Major assets like Bitcoin (BTC) and Ethereum (ETH) have also seen price adjustments, indicating market-wide corrections. 

These trends suggest that LUNC’s recent downturn may have been influenced by overall investor sentiment and macroeconomic factors affecting the entire crypto space.

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Terra Classic price prediction: short-term outlook

Given the current market conditions and performance indicators, it is unlikely that LUNC will reach $1 any time soon, as suggested in some quarters. 

Despite high liquidity and a negative yearly inflation rate of -0.68%, LUNC’s price has decreased by 10.3% over the past year. 

In addition, data from CoinGecko shows that it has underperformed relative to 88% of the top 100 crypto assets and major cryptocurrencies like BTC and ETH.

However, the CoinCodex short-term LUNC forecast has the price of the token rising by as much as 10.71%, and it is expected to reach $0.00008987 by the end of July. 

On its part, Traders Union’s LUNC crypto prediction has the token trading between $0.000075 and $0.0000916 in July. The financial website also sees the minimum LUNC target price for December 2024 as $0.0000816, with the expectation of hitting 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 prediction for 2025 and beyond.

CoinCodex expects Terra Classic to break $0.000215 and maintain its market position by 2025, with the lowest anticipated price being $0.00006965. 

On its part, Traders Union predicts an average price of $0.00010026 by the halfway point of 2025 and $0.00011091 by the end of the year.