Terra Classic ($LUNC ) Price Predictions and Investment Considerations

Part 1/2

Terra Classic (LUNC), formerly known as Terra (LUNA), has experienced a rough year marked by significant price swings and burn initiatives. Despite the ongoing efforts to revive the token, its future remains uncertain.

In an attempt to salvage the project, Terraform Labs launched a new blockchain, Terra 2.0, and rebranded the original chain as Terra Classic. Consequently, the native token was also renamed LUNC. The Terra Classic community is currently focused on reviving LUNC through burn initiatives aimed at reducing supply and potentially increasing its value.

At the time of writing, LUNC trades at around $0.00008184, with a daily trading volume of $21 million. Its market capitalization sits at $449 million. LUNC’s all-time high of $119.18 was reached in April 2022, while its lowest point was $0.00001675 in May 2022. Since then, the token has struggled to regain significant traction, with its highest price in recent months reaching only around $0.00059.

Recent data indicates ongoing token-burning efforts for LUNC. As of this writing, the total burn rate has surpassed 123 billion LUNC. Notably, over 7 billion LUNC have been burned in the last week alone, averaging roughly 1 billion LUNC daily.

Looking at the past month, burn statistics reveal a total of 9.82 billion LUNC removed from circulation, with a daily average of approximately 327 million LUNC. These figures suggest a dedicated effort to decrease supply and potentially influence future value.

However, LUNC’s recent price movements paint a less favorable picture. Over the past 30 days, the token has experienced a decline of 28.82%. It has also lost nearly 10% of its value in the last week. While a slight increase of 2.2% was initially observed in the previous 24 hours, it has since declined by 0.80%.