Terra Classic is currently priced at $0.00008343, down 100% from its highs and down 10.61% in the last year. Our Terra Classic price forecast by the end of 2024 is $0.000118. According to our Terra Classic price prediction for 2025, LUNC could reach $0.000165.

Terra Classic is a rebranded version of the Luna Terra cryptocurrency, which crashed in 2022. While the price is down 100% from its ATH, it still retains a market cap of $484 million and a thriving community.

Although a return to its all-time highs (ATH) is almost impossible, this Terra Classic price prediction looks at whether LUNC will rise again, or if it will continue its downward trend.

Terra Classic Historical Price

Do Kwon and Daniel Shin of Terraform Labs created the LUNA coin and Terra blockchain in 2018. The project gained popularity in the following years for its unique DeFi innovations, such as its algorithmic stablecoin UST, which was backed by LUNA instead of the U.S. dollar.

Another popular innovation is its lending dApp, the Anchor Protocol. With Anchor Protocol, users can earn 20% APY by staking UST. This is well above the average annualized yield for the market’s collateralized stablecoins, making LUNA and UST extremely popular and causing LUNA to become the top altcoin by market cap.

However, in May 2022, UST lost its peg to the U.S. dollar, falling to $0.91. Since it is backed by LUNA rather than USD, this inadvertently hurts the LUNA price. This led to panic selling that ultimately led to the collapse of UST and LUNA.

The project reached an ATH of $119.18 in April 2022, but the price today is just 0.00008334 USD, down 100%. Still, the project has retained a somewhat cult following and still has a market capitalization of $484 million.

After Luna’s collapse, Do Kwon suggested creating a new chain called Luna 2.0. This will be a hard fork of the existing chain, with the original chain renamed Terra Classic and the LUNA coin changed to LUNC.

Following the rebrand, the price reached a high of $0.000438 in September 2022, but has since sold off sharply.

Terra Classic Historical Price Highlights:

• Created in 2018, Luna reached an ATH of $119.18 in April 2022.
• Luna price plummets 100% as Terra Network UST stablecoin decouples.
• After the collapse, the Terra network was renamed Terra Classic.
• Terra Classic surged to $0.000438 in September 2022 but has suffered a sustained sell-off since then.
• Currently, the price of LUNC is $0.00008334.

Terra Classic Price Prediction 2024

Terra Classic A proposal recently voted on by the DAO decided that a quant team should begin work on re-pegging the Terra algorithm stablecoin, which has been renamed to Chinese Science Technical University.

If this can be achieved, it will be a significant development that will help restore the cryptocurrency public’s confidence in its ecosystem. However, if the quant team finds it impossible to re-peg USTC, it could cause the Terra Classic community to lose hope in the future of the project.

Still, there are countless other ongoing developments in its ecosystem. Terra Classic retains significant market capitalization and a vibrant and loyal community. It has 1 million Twitter followers, 85k Telegram members and regularly appears in media headlines.

Therefore, many projects choose to build on the blockchain, such as Back Bone Labs, TFM and Station.

However, adoption of the Terra Classic chain has curbed recently, gaining less than 200K new accounts in the past ten months.

The number of accounts on the network has spiked significantly in the previous months, suggesting that much of the buzz around Terra Classic may come from a desire to profit from "cheap" coins investors.

With Terra Classic’s reputation tarnished, it remains to be seen whether adoption will pick up again.

Nonetheless, as the cryptocurrency bull run is expected to occur in 2024 and the Terra Classic team is putting in a lot of effort to reignite the success of the blockchain, we see a future for the project.

Therefore, our Terra Classic price prediction has a minimum price of $0.000096, a maximum price of $0.00014, and an average price of $0.000118 by the end of 2024.

Terra Classic Price Prediction 2025

It remains to be seen whether Terra Classic will perform in the long term. Its murky history and recent Terraport Finance hack have certainly put pressure on upcoming ecosystem adoption. However, the Terra Classic community remains resilient, and developers continue to push the boundaries in innovation.

For example, in recent weeks, Terra Classic core developers have proposed building a community-owned decentralized wallet. This follows recent backlash against new Ledger wallet features that could compromise user privacy and impact Criticism of Metamask’s new excessive privacy policy.

Clearly, Terra Classic developers are solving an industry-wide problem, so long-term success is possible.

One of the reasons for the continued interest in the LUNC cryptocurrency is the massive burning of the coin. Some of the entities involved in burning LUNC include network validators such as Binance, KuCoin, and Classy Sphere.

68,316,447,123 LUNC have been burned so far, equivalent to almost 1% of the total supply. According to the TerRarity LUNC burn calculator, this could rise to 205,254,081,175 LUNC by 2025, equivalent to 2.99% of the total supply.

With supply dwindling rapidly, Terra Classic may be one of the best utility tokens looking to the future.

However, competition in the Tier 1 blockchain industry is fierce. As a result, Terra Classic is unlikely to make huge gains, as investors may believe there are many other options for safer investments.

With this in mind, our 2025 Terra Classic price forecast could see a low of $0.00013, a high of $0.0002, and an average price of $0.000165 by the end of 2025.

Terra Classic Price Prediction 2030

In the long term, there are many possibilities for Terra Classic. However, since it is built on a failed blockchain, its chances of success seem slim.

While many talented developers are working within the Terra Classic ecosystem, problems remain and its model has failed before, wiping $60 billion from the market.

This sentiment was shared by many in the crypto community and was ultimately reflected in its price hitting lower lows not seen since September 2022.

Still, Terra Classic’s strong community and innovative approach to cryptocurrency means there’s still upside potential, which could be significant given its relatively low market cap. This makes it one of the top high-risk, high-reward cryptocurrencies.

Still, the most important factor for long-term success is for Terra Classic to regain the trust of the mainstream crypto community. It will be an uphill battle, but still possible.

If we can do that, our 2030 Terra Classic price prediction estimates a potential low of $0.00016, a high of $0.00024, and an average price of $0.0002.

However, we It must also be taken into account that Terra Classic is a high-risk project due to past shortcomings. Additionally, with the arrest of its founder Do Kwon, this could hurt its long-term price potential.

Possible Lows and Highs for Terra Classic Price

Terra Classic is an exciting but polarizing project, with many in the crypto community either loving it or hating it. Although its future remains to be seen, it is certainly one of the most interesting cryptocurrencies to watch. We have listed the predicted lows and highs for Terra Classic price below.

What other analysts are predicting for Terra Classic

As mentioned before, Terra Classic is a polarizing cryptocurrency, which means price predictions vary widely. We’ve summarized some of the most prominent LUNC price predictions below.

What is Terra Classic and what is it used for?

Its ecosystem consists of many DeFi applications that offer lending, staking, trading, payments, and interoperability-focused protocols.

LUNC is the native token of the Terra ecosystem and is used for staking, governance, transaction fees, and stabilizing the price of ecosystem stablecoins.

An important consideration is that LUNA collapses in 2022 for stabilizing UST. The move to repeg USTC suggests Terra Classic is continuing the same strategy. It goes without saying that this brings a lot of risk to the LUNC price.

Terra Classic Overview

What will affect the price of Terra Classic?

Terra Classic’s journey is unprecedented in the crypto space. Therefore, anything can happen regarding its price, but one of the key influencing factors is market sentiment.

If the Terra Classic community convinces the broader crypto community that LUNC is secure, we may see increased adoption and higher prices. However, if it receives more negative press, like the recent Terraport Finance hack, then new users will be less likely to join its ecosystem.

Another major factor that could affect its price is whether the Terra Classic quant team can repeg its USTC stablecoin. While this is a near-impossible task, if it succeeds, it will set off a new wave of excitement in the ecosystem.

Finally, coin burning is gradually reducing the circulating supply of Terra Classic. Provided demand remains balanced or increases over time; this could significantly boost LUNC prices.

Is Terra Classic worth buying?

Since its inception, Terra Network has been at the forefront of innovation. While this backfired and triggered one of the largest black swan events in crypto history, it also attracted a loyal, cult-like community who supported the project through its darkest times.

Still, choosing whether to invest in a project is still a personal choice; but Terra Classic is too risky for most investors.

Conclusion

Overall, the Terra Classic project has experienced a devastating trajectory since May 2022. While its community has demonstrated its spirit, its past problems make it difficult to see LUNC's long-term future.

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