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Recently, the price of Terra (LUNA) has witnessed record highs in the last seven days. With the rebound of this crypto, the entire investor community is buzzed with excitement and hope. A lot of things have happened in recent times that have a great bearing on the future prospects of this altcoin. Read ahead to know the price predictions of LUNA for the upcoming years, along with the factors driving its growth in the market charts.
Terra (LUNA) Price
In the middle of April 2023, LUNA was trading at a price of $1.42, and later on, the crypto witnessed a big drop in its value. Finally, a big sigh of relief comes from the LUNA investors as the crypto has started regaining its lost value. At the time of writing, Terra has been trading for a price of $0.000089. Though it has experienced some lows in the last 24 hours, however, the altcoin has seen a notable rise of around 5% in the last seven days.
Even the circulating supply of the crypto is 5.8 trillion. Despite this growth, the overall outlook towards LUNA remains bearish, which insinuates that this crypto may soon face a big drop in the market. Nonetheless, due to positive investors’ sentiment towards LUNA, it is predicted that it will bounce back soon before the conclusion of 2023.
History of Terra and Its Founders
It is important to go through some of the big events in the life of Terra before going into its price predictions. LUNA was among the leading cryptocurrencies in the world, with a market valuation of over $40 billion in April 2022. The company suddenly found itself in a grave crisis when its algorithmic stablecoin, UST, crashed in May 2022. Consequently, the majority of the investors took their money out of this crypto, which made it difficult to reclaim its spot in the market.
Once the news of this crash was out, many legal proceedings were instituted against the founders of Terra, Do Kwon and Daniel Shin, for bringing about the bankruptcy of Terra. They were sued by the investors on the charge of deception and fraud. Further, a ‘red notice’ search warrant was also issued by Interpol when it was asked by the authorities of South Korea. Soon, Do Kwon, one of the founders of Terra, was arrested in Montenegro in March 2023.
Factors Affecting the Price of LUNA
Despite the ongoing legal battles against Terra and its founders, there are some positive factors that could help Terra in steering up its price. The demand for LUNA is bound to rise as more projects start developing on the supporting platform of Terra 2.0. With the increased regulatory compliance from Terra, the faith of investors in this crypto is bound to restore, which would eventually help in increasing its value in the long run.
Similarly, as the crypto market is on the road to recovery after having a mild run last year, the positive market recovery will have a trigger effect on the price of LUNA as well. Further, the investors’ sentiment towards the upcoming projects of Terra will also play a crucial role in stabilizing LUNA as a strong power in the crypto market.
LUNA Price Predictions
Before going further, it is important to understand that forecast of cryptocurrencies rests on different economic and social parameters. Therefore, it is possible that the actual value of the crypto may vary with these forecasts:
LUNA Price Prediction for 2023-24
As per the current estimates, it is anticipated that Terra may reach the level of $1.34 by the end of this year. Its average trading price for 2023 is predicted to be around $1.10. Terra is projected to show green signs on its market charts next year as it is predicted to close the year 2024 with a value of $2. In the same year, its minimum price is expected to be around $1.57, while its average price might be around $1.62.
LUNA Price Prediction for 2025-26
Some of the experts are highly optimistic about LUNA. They are extremely bullish on this crypto when they suggest that its minimum and maximum prices in 2025 would be $3.57 and $4.31. As per their forecast, LUNA will be traded for an average price of $4.14 in the year 2025. On the other hand, some analysts believe that it will be trading around the mark of $2.20 in 2025.
Market analysts have predicted that the price of LUNA will continue to rise with the same momentum in the year 2026. The maximum price of LUNA is projected to be $3.89, while the minimum price is predicted to be $2.34. The average price of LUNA is expected to be around $3.01 in the same year.
LUNA Price Prediction for 2027-29
Similarly, analysts have predicted that the maximum price for LUNA in the year 2027 is expected to be around $5.84, while its minimum price is predicted to be $3.52. The average price of LUNA will increase in 2027 as the crypto will be trading for a price of $4.38 in the same year. After an analysis of price fluctuations of LUNA by trade experts, it is believed that the average price of LUNA for the year 2028 would be around $7.34.
While the crypto may drop to the minimum value of $7.14, it has the potential to hit the mark of $8.49 in the same year. The growth projections for Terra will remain on the positive side in the year 2029 as well, where LUNA will be traded for an average price of $10.88. The crypto is expected to trade between the minimum value of $10.58 and the maximum value of $12.14 in 2029.
LUNA Price Prediction for 2030
The year 2030 is projected to be a great year for LUNA as the crypto will reach its highest value, i.e., $18.28, in that year. The minimum value of crypto is expected to be around $15.10, while its average trading price is predicted to be around $15.65.
Conclusion
The increasing popularity of Terra 2.0, positive market trends, and investors’ sentiment will definitely have a positive influence on the price of LUNA. However, as we know that crypto markets are volatile and subject to market forces, it is advisable to invest in any crypto after doing background research and risk analysis from your end. This will ensure long-term success in the crypto market.
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