Leading Terra Classic Influencer Predicts a Favorable LUNC Price. He predicts that LUNC will be $0.001 rather than $1.
The prominent LUNC influencer Classy Crypto is quite optimistic about Terra Classic, and he forecasted that the coin would rise to $0.001.
The time and date that Classy Crypto anticipates LUNC to skyrocket to that price level should have been given.
Additionally, he warned his followers that the prediction in the tweet shouldn’t be regarded as investment advice because it is just his personal opinion.
Classy Crypto tweeted, “My personal opinion on LUNC is… LUNC to $0.001. NFA [Not Financial Advice].
The Terra Classic community is constantly advocating for a $1 LUNC pricing, but according to Classy, $0.001 rather than $1 is more realistic.
However, The Crypto Basic’s in-depth investigation identified real-world utility and higher burns that could aid LUNC’s ascent to $1. The community is divided over what is more significant.
Attempts to Bring Back LUNC
Formerly known as LUNA, LUNC is now only a ghost of what it once was due to the collapse of the Terra biosphere.
Before the collapse of the Terra ecosystem, on April 5, 2022, LUNA reached an all-time high of around $120.
The Do Kwon team made it plain that it has abandoned Terra classic in favor of the recently created Terra tokens, LUNA and UST, following the relaunch of the Terra network.
Members of the Terra classic community took it upon themselves to resurrect the principles of LUNC and USTC through several activities after it became apparent that the Terra team had abandoned the old tokens.
Implementing a tax burn plan for all Terra Classic on-chain transactions is one of the initiatives the community has started, along with other individual initiatives to burn and lower the supply of LUNC.
LUNC Burns
Over 35 billion LUNC tokens have been burned since December 1, with Binance responsible for most of these burns.
Binance increased its total LUNC burning to 20.1 billion earlier this month by sending 6.3 billion LUNC worth $1 million to a defunct wallet.
The community has also staked a total of 884.75 billion LUNC as part of attempts to lower the total supply of LUNC.
It is important to note that LUNC burns are being accelerated using other projects.
It was announced last month that a casino with a 26 billion LUNC token capacity had opened. Shortly after starting, the casino burned its first million LUNC.
Despite the amount of LUNC burned, Coingecko statistics show that there are still 5.97 trillion LUNC in circulation.
Tobias Andersen (Zaradar), a member of Terra Rebels, an autonomous development group, stated in a paper that lowering burn costs, re-enabling swaps, and encouraging economic activity are the fastest ways to decrease LUNC supply.
More people are anticipated to adopt cryptocurrencies if the community can lower the supply of LUNC. As predicted by Classy Crypto, the asset’s price would soon increase to $0.001.
Meanwhile, LUNC is trading at $0.00017733, up 0.6% in the past 24 hours. The coin is also up 8.7% in the past week and 11.2% in the last two weeks.
