LUNC Price Prediction: LUNC’s Potential Recovery to $1?
One of the most impressive cryptocurrencies to gain popularity this year is Terra Luna Classic (LUNC). Since the start of the year, Terra Luna’s LUNC has risen in price by more than 15%. Investors who started a position in LUNC at the beginning of the year are currently seeing profits of roughly 8%. But what does the future of LUNC look like? Let’s explore this in today’s LUNC price prediction.
How LUNC Token Works
The Terra Classic stablecoin technological platform was created to bring together Bitcoin’s privacy advantages and the relative price stability of real-world fiat currencies. The platform, which started in 2018 and released its blockchain in 2019, offers quick and inexpensive transactions using its reliable UST currency.
Luna serves as a representation of a validator’s mining power. It also helps keep the price of Terra stablecoins stable and gives blockchain miners something to work for. Miners stake their Luna to mine transactions on the Terra platform’s proof-of-stake (PoS) blockchain. The more Luna a miner stakes, the higher their chances are of generating the next Terra block compared to another validator with less staked Luna.
Holders and stakeholders of Luna are, nonetheless, exposed to the price risks linked with the asset because they provide network security and validation. This is because the Terra protocol quickly exchanges Terra stablecoins for Luna at their chosen exchange rate to keep the peg.
5/ Quick Stake ⚡
Deciding on which validator to delegate your stake to on a PoS blockchain can be difficult with so many options.
Quick Stake streamlines staking.
Users simply select their preferred chain and the amount they desire to stake – Station handles the rest. pic.twitter.com/9jlbtvCxtn
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) January 14, 2023
The protocol accomplishes this by utilizing free market forces. For instance, the protocol must adjust by raising the supply of TerraUSD (UST) if the price is higher than its $1 US dollar peg. It produces certain stablecoins and offers them for sale on the open market. Intermediaries can then exchange 1 TerraUSD for 1 US dollar’s worth of Luna and profit. Minting and exchanging continue until there is enough new UST to restore the peg.
Similarly, if the price of 1 TerraUSD falls below its $1 US dollar objective, the protocol will reduce the stablecoin’s supply. Luna is minted and offered for sale on the open market. Profit-seeking individuals can exchange 1 UST for $1 in Luna and keep the difference.
LUNC Fundamental Analysis
Terra Classic offers dependable international payment solutions using stablecoin technology, which links cryptocurrencies to fiat currencies. There is no question that the Terra Classic (LUNC) would rise to the top of the crypto market again. This is because of the low price in relation to the chain’s value and the short circulating supply.
Amidst uncertain macro conditions, the #LUNAtic community remains focused on rebuilding 🌕⚒️
Explore the protocol launches, ecosystem developments, gov. activity, and media features the Terra community saw in Dec. in this month’s Community Update! 👇https://t.co/2MWXW7rXL0
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) January 18, 2023
Notably, the results of current inquiries into the UST disaster could postpone the chain’s rapid price growth or its chances of recovery. On the other hand, the inquiry results can spark a lot of growth. Can LUNC recover $1?
LUNC Technical Analysis
Terra Luna Classic (LUNC) has risen today, with the current price sitting at $0.000170862510 at press time. The token has a 24-hour trading volume of $154,848,226. Currently, 6 trillion LUNC coins are in circulation, with a total supply of 6,871,395,678,870.04.
On the daily timeframe, LUNC has begun showing signs of recovery after a series of bearish movements culminating at the $0.000128 ray line. Furthermore, should the moving averages cross to the upside above $0.000162, a breakthrough to the upside will be inevitable for LUNC pushing the price to 0.000275 resistance.
LUNC is still far from recovering to $1. However, it could be near the mark towards the Q3 of 2023.
LUNC Price Prediction
Based on the fundamental and technical analysis above, LUNC is undoubtedly on the road to recovery. Our LUNC price prediction is that the coin will rise to reach $0.000275 by Q1 and $0.00362 by the end of Q2 of 2023. LUNC is a token you want to invest in this year as it has great profit potential.
The rise will be gradual, much like with other cryptocurrencies, but no significant declines are expected. Even though it is quite an ambitious goal, considering the projected cooperation and developments, it will be done soon. The minimum value of LUNC is anticipated to be $0.00025.
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