Should we buy Luna Classic or not? Luna is an open source project. This project was created with the aim of developing decentralized applications, Web3 products and services. Initially, the name of this project was Luna, which was changed to Terra after the market crash in 2022. This token is represented by the symbol LUNC. To learn more about Luna Classic and also predict its future for investment, stay with us on the Pooyanmusic site.
Terra Classic operates on Polygon, Binance Smart Chain, Ethereum and Solana blockchains. In 2024, when the Bitcoin halving process will happen, we can see a positive trend in the digital currency market. Most likely, the price of Luna Classic will reach $0.003 this year.
The projected price in 2025 for Luna is predicted to be $0.005. By 2026, its price will increase to $0.006 and in 2027 to $0.008. In 2028, when the bitcoin halving process will happen again, the price of Luna is expected to reach $0.01. It will reach $0.03 in 2029.
If you plan to invest in Luna Classic digital currency, it is very likely that its price will increase to $0.04 by the end of 2030. Among the exchanges that support the Luna currency, we can mention the international exchanges Hobi, Kucoin, Binance and Gate.
Luna is a platform for creating algorithmic stablecoins. In May 2022, events such as the sale of a large number of UST stablecoins led to its value moving away from the fixed amount of $1, which reached $0.67. On the next day, the price of Dan improved somewhat and reached $0.9. But this was temporary and the next day its price reached $0.23. It then reached $0.003 on May 13.
Do Kwan, who is the founder of this network, made a proposal to hard fork the network and build a chain on May 27 of this year. The main network name was changed to Terra Classic and its currency was named Luna Classic. Luna cryptocurrency is still hyperinflationary in this network. Its circulating supply is 5.8 trillion units.
One of the most important factors for predicting the future of a currency is to check its market cap. Market cap is a measure obtained by multiplying the number of tokens in circulation by the current price of each currency unit.
Luna Classic’s market cap is currently $506 million. In order for the price of each token of this currency to increase, more capital must be brought into its market. Entering this amount of capital, which is very high, is currently not possible.
In order to be able to answer the question of whether to buy Luna Classic or not, we need to check its token burn rate as well as the decrease in its circulating supply. Currently, more than 65 billion units of this currency have been burned. Many exchanges support this plan. So far, the Binance exchange has been responsible for about 51% of the token burning of this currency.