Formerly known before the collapse in May 2022 LUNA Terra Classic (LUNC), commonly known as LUNC, is trading close to its all-time low.
While many Terra Classic advocates and investors predicted that LUNC will hit $1 in the future, a top crypto phenomenon recently said that $0.001 is more reasonable for the ailing coin to reach.
Terra Classic Goes for $0.001
Terra Classic native token LUNC continues to underperform. Combined with the general crypto market turmoil, LUNC is down more than 100% from its all-time high of $119.18.
One of the greatest known phenomena of the Terra Classic community Classy CryptoAccording to LUNC, it is likely that sooner or later it will reach a price of $ 0.001. In other words, Classy Crypto expects LUNC to increase by over 500% in the near term from its current price of $0.0001656 at the time of writing.
My own personal opinion on $LUNC work…#LUNC to $0.001.
NFA.
— Classy 👾 (@ClassyCrypto_) December 4, 2022
Although the phenomenon states that the LUNC price prediction is not financial advice, its prediction has managed to get hundreds of interactions. We will see if the continuous improvements in the Terra Classic ecosystem will be enough for the coin price to reach the predicted value in the coming weeks or months.
LUNC Burn Gains Speed
Koinfinans.com As we report, reducing the over-inflated LUNC supply is one of the community’s key goals, in addition to the numerous improvements offered in the Terra Classic ecosystem. In this way, it is expected that the supply will decrease and the price of the coin will increase.
The community is sticking to its goal of burning LUNC and increasing the total supply from approximately 6.9 trillion to 10 billion. This target led to the activation of LUNC tax burning on the Terra Classic network. Subsequently, several projects supporting LUNC burning became available, including the Terra Classic Lottery Game, the Terra Classic Casino project, and an NFT marketplace.
Additionally, TerraCVita, an independent group working on the revival of Terra Classic, is on track to establish a decentralized exchange on the Terra Classic network designed to support the LUNC burn.
At the time of this writing, the leading LUNC burn monitoring platform Terrarity indicates that the total amount of LUNC burned is 42,013,939,354 (42 billion). Binance, the world’s largest blockchain ecosystem, and its crypto exchange are among the top contributors to the LUNC burn initiative. The data shows that Binance alone destroyed more than 50% of the total LUNC removed from circulation.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.