Terra Classic Price Prediction 2024, 2025, 2030

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

Although regaining its all-time high (ATH) is almost impossible, this Terra Classic price prediction looks at whether LUNC could rise again or if it will continue to downtrend.

Terra Classic Price History

Do Kwon and Daniel Shin of Terraform Labs created the LUNA coin and Terra blockchain in 2018. The project rose to popularity in the following years due to its unique DeFi innovations, such as its algorithmic stablecoin, UST, which was backed by LUNA instead of the US Dollar.

Another popular innovation was its lending dApp, Anchor Protocol. With Anchor Protocol, users could receive 20% APY by staking UST. This was far above the market’s average APY for staking stablecoins, making LUNA and UST very popular and leading to LUNA becoming one of the top altcoins by market cap.

However, in May 2022, UST lost its dollar peg, dropping to $0.91. Since it was backed by LUNA rather than USD, this inadvertently damaged the LUNA price. This led to panic-selling, eventually causing the collapse of UST and LUNA.

The project reached an ATH of $119.18 in April 2022 but is today priced at a mere $0.00008334, down 100%. Nevertheless, the project has retained a somewhat cult following and still has a $484 million market cap.

Following the Luna collapse, Do Kwon suggested creating a new chain called Luna 2.0. This would be a hard fork of the existing chain, with the original chain rebranding to Terra Classic and the LUNA coin changing to LUNC.

After its rebranding, the price reached a high of $0.000438 in September 2022 but has sold off significantly since.

Terra Classic price history key points:

• Luna was created in 2018 and reached an ATH of $119.18 in April 2022.
• Following the depeg of the Terra networks UST stablecoin, the Luna price collapsed 100%.
• The Terra network was rebranded to Terra Classic following the collapse.
• Terra Classic pumped to $0.000438 in September 2022 but has since endured a continuous sell-off.
• Currently, LUNC is priced at $0.00008334.

Terra Classic Price Prediction 2024

A recent proposal voted on by the Terra Classic DAO decided that a quant team should begin working on repegging the Terra algorithmic stablecoin, which has been rebranded to USTC.

If this can be achieved, it would be a significant development, helping to restore faith in its ecosystem amongst the crypto masses. However, if the quant team discovers it is impossible to repeg USTC, it could cause the Terra Classic community to lose hope in the project’s future.

Nonetheless, there are countless other ongoing developments in its ecosystem. Terra Classic has retained a respectable market cap and a vibrant and loyal community. It boasts one million Twitter followers, 85k Telegram members and regularly appears in media headlines.

Consequently, many projects have chosen to build on the blockchain, such as Back Bone Labs, TFM and Station.

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

In the months prior, the number of accounts on the network spiked significantly, showing much of the buzz around Terra Classic may be from investors looking to cash in on a “cheap” coin.

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

Still, as the crypto bull run is expected to occur in 2024 and the Terra Classic team is putting in much effort to reignite the blockchain’s success, we see a future for the project.

Therefore, our Terra Classic price prediction forecasts 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

Whether Terra Classic can perform long-term remains to be seen. Its murky history and the recent Terraport Finance hack undoubtedly put a strain on incoming ecosystem adoption. However, the Terra Classic community remains resilient, and developers have continued to push boundaries in terms of innovation.

For example, in recent weeks, a Terra Classic core dev has proposed to build a community-owned decentralised wallet. This follows the recent backlash over Ledger’s new wallet feature that could compromise users’ privacy and criticism of Metamask’s new overreaching privacy policy.

Evidently, the Terra Classic devs are tackling industry-wide issues, so there is potential for long-term success.

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

So far, 68,316,447,123 LUNC have been burned, equating 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, equating to 2.99% of the total supply.

With the supply reducing so quickly, Terra Classic could be one of the best utility tokens looking ahead.

However, competition in the layer one blockchain industry is fierce. Therefore, it is unlikely that Terra Classic will see massive gains since there are many other options that investors may deem more secure investments.

With this in mind, our 2025 Terra Classic price prediction forecasts possible lows of $0.00013, highs of $0.0002 and an average price of $0.000165 by the end of 2025.

Terra Classic Price Prediction 2030

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

While many talented developers are working within the Terra Classic ecosystem, the issue remains that its model has previously failed, wiping $60 billion from the markets.

This sentiment is shared by many in the crypto community and is ultimately reflected in its price making lower lows since September 2022.

Nevertheless, Terra Classic’s strong community and innovative approach to crypto means there remains upside potential, and considering its relatively low market cap, it could be significant. This makes it one of the top high-risk, high-reward cryptos.

Still, to succeed long-term, the most important factor is that Terra Classic regains the trust of the mainstream crypto community. This will be an uphill battle, but it is still possible.

If it can do this, our 2030 Terra Classic price prediction estimates potential lows of $0.00016, highs of $0.00024 and an average price of $0.0002.

However, we must also consider that Terra Classic is a high-risk project due to its past shortfalls. Furthermore, a case is ongoing due to the arrest of its founder, Do Kwon, which could damage its long-term price potential.

Possible Lows and Highs of Terra Classic Price

Terra Classic is an exciting yet polarising project, and many in the crypto community either love or hate it. Although its future remains to be seen, it is undoubtedly one of the top cryptos to watch. We have listed our predicted lows and highs for the price of Terra Classic below.

What Do Other Analysts Predict for Terra Classic

As mentioned, Terra Classic is a polarising crypto, which means price predictions vary widely. We have summarised some of the most prominent LUNC price predictions below.

What Is Terra Classic and What Is It Used For?

Its ecosystem comprises of many DeFi applications that provide lending and borrowing, staking, trading, payments and interoperability-focused protocols.

LUNC is the native coin to the Terra ecosystem, used for staking, governance, transaction fees, and stabilising the price of the ecosystem’s stablecoins.

An important consideration is that LUNA collapsed due to being used to stabilise UST in 2022. The initiative to repeg USTC shows the Terra Classic is continuing with the same strategy. It goes without saying this presents lots of risk to the LUNC price.

Terra Classic Overview

What Affects the Terra Classic Price?

Terra Classic’s journey is unprecedented in the crypto sphere. Therefore, anything could happen regarding its price, but one of the key influences will be the market’s sentiment.

If the Terra Classic community convinces the broader crypto community that LUNC is safe, we could see increased adoption and a higher price. However, if it receives more bad press, like following the recent Terraport Finance hack, then it is unlikely that new users will join its ecosystem.

Another major factor that could impact its price is if the Terra Classic quant team can repeg its USTC stablecoin. While it is an almost impossible task, it would create a new wave of excitement within the ecosystem if successful.

Finally, coin burning is incrementally reducing the Terra Classic circulating supply. Providing demand remains even or increases over time; this could significantly bolster the LUNC price.

Is Terra Classic a Buy?

The Terra network has been at the forefront of innovation since its inception. While this backfired and caused one of the biggest black swan events in crypto history, it has also engaged a loyal, cult-like community who have supported the project through its darkest times.

Still, choosing whether to invest in a project remains the choice of the individual; but Terra Classic presents too much risk for most investors.

Best Place To Buy Cryptos

Binance is a leading global crypto exchange known for its high liquidity, wide range of trading pairs and relatively low trading fees. 

Founded in 2017, Binance has grown rapidly due to its broad range of services, including spot trading, futures, and high staking APY rewards.

Moreover, Binance Smart Chain, a parallel blockchain to Binance Chain, uses a Proof of Staked Authority (PoSA) consensus. It is a blend of Proof of Stake and Authority models, enabling high-speed and low-cost transactions.

Core Features:

• Trading Options: Binance supports a massive selection of 500+ cryptos and trading pairs, catering to beginners and experienced traders.
• Fees: It has a competitive fee structure (0.1% per trade), with discounts available for BNB users.
• User Interface: Provides a basic and advanced interface, suiting varying levels of trading experience.
• Security: Focuses on strong security measures like 2FA and cold storage.

Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.

Conclusion

Overall, the Terra Classic project has endured a devastating trajectory since May 2022. While its community has shown its spirit, its past issues make it hard to see a long-term future for LUNC.

Although there is plenty of upside potential, other cryptos may present a better risk-reward ratio. With that in mind, we have compiled a list of the best cryptos to buy now – check it out today.

Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.

References:

• https://www.ccn.com/terra-luna-classic-stablecoin-repeg-ustc/
• https://www.cnbc.com/2022/02/21/bitcoin-btc-bull-market-may-not-return-until-2024-huobi-co-founder.html
• https://finance.yahoo.com/news/hardware-wallet-manufacturer-ledger-faces-024447420.html
• https://www.reuters.com/world/europe/montenegro-court-jails-cryptocurrency-king-do-kwon-four-months-media-2023-06-19/
• https://www.bloomberg.com/news/newsletters/2022-05-16/the-big-take-what-caused-terra-luna-s-60-billion-implosion
• https://www.cnbc.com/2023/06/29/fidelity-joins-the-rush-for-a-bitcoin-etf-following-blackrock-ark-invest-and-others.html

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Elliott Lee

Editor

Elliott Lee

Editor

Elliott is a British cryptocurrency journalist and copywriter. Having spent the past couple of years immersed in everything crypto, he now spends his time researching the most impactful cryptocurrency trends. He looks for projects with long-term visions and is a huge believer that blockchain technology can solve the world's most pressing issues.

All Articles by Elliott Lee