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Many new events have occurred in the Terra Classic network in the past few days, and their impact on LUNC has been noticeable as they’ve affected its price drastically.
Following the Testnet v2.0.0 upgrade, LUNC has burnt billions more tokens than Binance, triggering the token’s price growth dramatically.
Today, May 13, 2023, LUNC’s price has increased by 1.30% at the time of writing compared to its past price yesterday.
Also, the long-term bullish sentiment of the market confirms the potential price gains for LUNC in the coming days to weeks.
LUNC Past and Present Price Performance
On January 1, LUNC was trading at $0.0001451; in the space of 15 days, it reached $0.0001766 (January 15). By January 23, it reached $0.0001813 but dropped until January 31, when it recorded $0.0001646.
During early February, LUNC was bullish, going from $0.0001714 on February 1 to $0.0002027 in four days (February 4). Starting February 10, LUNC dropped to $0.0001603 and continued at this level till the end of the month.
As several legal cases emerged in March concerning LUNC’s co-founders, the token’s value dropped drastically. It started declining from $0.0001634 on March 1 to $0.0001258 on March 17.
After touching $0.0001316 on March 18, LUNC’s price decline continued till the end of the month when it recorded $0.0001223 (March 31).
The price decline continued intensively in April and got LUNC from $0.000125 on April 1 to $0.0001164 on April 20. Furthermore, it recorded $0.0001083 on April 22 and also $0.0001093 on April 28, and on April 30, it recorded $0.0001118.
Amid this awful performance, Terra Classic launched a Testnet upgrade to v2.0.0 in May to facilitate activities on the network. Before and after the upgrade, LUNC declined even more of its past-month gains. From $0.00011 on May 1, it entered $0.0000957 on May 7.
Today, May 13, 2023, LUNC trades at $0.0000885, down by 1.34% at the time of writing.
Notwithstanding, the upcoming Tendermint v34.24 and Cosmos SDK v0.45.13 upgrades can be game changer for LUNC’s price.
LUNC Price Prediction with Technical Indicators
Terra Classic (LUNC) is among the currently bearish cryptocurrencies in the market, with its price fluctuating.
LUNC is trading below its 50-Day and 200-Day Simple Moving Average (SMA), indicating a short and long-term bearish market. In the coming days, LUNC will likely stagnate within the $0.00007 and $0.00008.
The Relative Strength Index (RSI) is at 34.18 when writing. The market is neutral and likely to fall into the oversold zone (below 30) if the bears’ pressure LUNC’s price.
Furthermore, the Moving Average Convergence/Divergence (MACD) is below the signal line, confirming LUNC’s current bearish market. LUNC is recording higher SELL trades than BUY.
Terra Classic (LUNC) has its support levels at $0.00005339, $0.00008380, and $0.00009695. In contrast, the resistance levels are $0.00013287 and $0.00019328.
LUNC is trading below its strongest support level, which means, there will be fewer fluctuations as it strives to break out of it.
On the other hand, LUNC resistance levels prove that the asset can achieve more prices in the nearest future.
Also, the upcoming upgrade on the platform can contribute to and hasten LUNC’s price gains. The upgrade will streamline all activities on the platform, thus attracting more users, which means more LUNC adoption. As such, the token’s value still has a chance to reverse to a positive trend.
Note that crypto projects have high volatility and can deviate from predicted price behaviors. Thus, proper risk management techniques, as well as comprehensive technical analysis, must apply before investments.
Experts’ Short and Long-Term Prediction for LUNC
Many crypto analysts and experts have released several predictions for LUNC’s price before the end of 2023 and beyond. These predictions are based on fundamental and technical indicators.
LUNC Price Prediction by PricePrediction
According to PricePrediction, LUNC is expected to reach a maximum price of $0.00012940, an average of $0.00011556, and a minimum of $0.00011109 in 2023.
It should perform well throughout 2024, and by 2025, it should reach $0.00027387 (maximum), $0.00023698 (average), and $0.00022890 (minimum).
In the next 5 years, PricePrediction tips LUNC price to spike to the $0.002 level by 2030.
LUNC Price Prediction by DigitalCoinPrice
DigitalCoinPrice predicts LUNC’s minimum, average, and maximum prices in 2023 to record $0.0000789, $0.000159, and $0.000195, respectively. In 2024, it should reach $0.000191 (minimum), $0.000222 (average), and $0.000228 (maximum).
By 2025, LUNC should begin around a minimum of $0.000262, a maximum of $0.000324, and an average of $0.000313.
Although there might be several fluctuations from 2026 to 2029, Terra Classic (LUNC) will have more bullish pressure in the market.
By 2030, the asset is expected to reach a maximum of $0.00109, a minimum of $0.00102, and an average price of $0.00108.
Factors Influencing LUNC’s Price
The price and performance of every cryptocurrency depend on macroeconomic factors, regulations, laws of supply and demand, as well as market sentiment, etc.
Also, developments or uncertainties in the crypto ecosystem play a vital role in impacting its prices, either positively or negatively.
In the past and present, Terra Classic faces several lawsuits that have put fear into its community, including huge token transfers and the arrest of its co-founders. Many investors have withdrawn, while some are hesitant to make trades.
Currently, some latest news in the ecosystem and the market’s reaction will determine whether LUNC will decline or recover afterward.
Also, the regulatory outlook in the general crypto market might affect LUNC price as many firms face US SEC lawsuits.
Notable Events and Developments in The Terra Classic Network
The DFLunc protocol is a validator that will allow its users to mint their DFC tokens simply by burning the Terra Classic (LUNC) tokens.
It mints two smart contracts powered by CosmWasm: DFLunc and CW20-DFC. So, if users want to mint their DFC tokens, they would have to burn their LUNC tokens by paying protocol fees using USTC.
The protocol’s aim to facilitate the growth of validators across Terra Classic’s blockchain comes in different stages. However, the outcome will be the best bet for Terra Classic blockchain validators.
Not only will this enhance validators’ experience on the blockchain, but it’ll also attract more, increasing the relevance of the blockchain.
DeFi Protocol, DFLunc, overtakes Binance – Burns 1.6 billion LUNC Tokens Since May 1
Terra Classic (LUNC) token burning has been ongoing since May 1 by a newly developed Terra Classic project, DFLunc protocol. In the past few days, over 1.6 billion tokens have been burnt, thereby deflating the tokens’ circulating supply very swiftly. Moreover, the total amount of burned LUNC is now beyond 57 billion.
Compared with Binance, DFLunc has burned more tokens than Binance, which records over 1.27 billion burned LUNC since May 1, 2023. So far, Binance has burned a total of 31.83+ billion LUNC tokens.
As such, the deflated circulating supply of LUNC tokens will attract token scarcity, which will likely increase the remaining token’s price.
With DFLunc’s continuous LUNC burn strategy, the token is likely to regain its stand in the market.
LUNC Alternatives
While LUNC shows bearish trends, investors can utilize some exploding token presales to position themselves for massive gains. Check them below.
Ecoterra (ECOTERRA)
Ecoterra is a recycle-to-earn project offering huge potential to reward early investors. The project’s value proposition makes it suitable for now and in the future.
Ecoterra aims to incentivize users to protect the environment from pollution. As such, it rewards users for all their activities towards the goal.
There are lots of ways to earn from its native token $ECOTERRA. Users can stake it, use it to buy carbon credits and offset carbon emissions, thereby earning rewards.
The token is on presale at a stage where investors can buy it for $0.0.00775. After running the stages, the token will list on exchanges at $0.01, rewarding early investors massively.
yPredict
yPredict is another project offering real-world utility. The platform is a blend of Artificial Intelligence and the blockchain to give crypto traders an edge in the market.
AI powers the new project to provide accurate crypto analytics and trading strategies beyond human capacity.
Due to the value of the token $YPRED, presale stages have recorded massive sales as it is already at stage 5. The team has amassed over $1 million as more investors prepare for its explosive growth.
Each $YPRED token is worth $0.07 and will increase at every new stage. By the next stage, the token will be worth $0.9 and continues adding until it lists on exchanges at $0.12.
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