Since the collapse of the then Terra (LUNA) ecosystem, the platform has struggled to remain afloat. The bearish crypto sphere has led the token to record unprecedented loss in various charts, especially in terms of total value locked (TVL) and other significant indices. This implies that a break above the $0.1 psychological level might seem impossible.
While it appears highly unlikely for Terea Classic (LUNC) to pull something unusual that would see the token price ascend to unprecedented levels, we at TimesTabloid have decided to look into some factors that could be crucial for LUNC’s price ascent to prices like $0.1.
Read Also: LUNC and USTC to $1? Terra Classic Community Officially Passes Proposal to Burn 800M USTC
Attractive Terra Classic Ecosystem For Capital Influx
Designing an attractive ecosystem would go a long way in propelling LUNC’s growth and adoption. This would encourage viable firms to develop significant projects on the Terra Classic network, especially decentralized apps (DApps).
Apart from pushing its growth for greater adoption, an inviting ecosystem would also attract more users and investors to purchase and hodl LUNC rather than being in a hurry to sell out. This would help boost the token’s utility for a brighter future in terms of price.
Meanwhile, attracting potential investors implies that the Terra Classic platform would gain capital influx in the form of investment funds, which is a positive fundamental for LUNC’s price growth.
Outcome of SEC and Terraform Labs Lawsuit
Just like the outcome of the legal dispute between the United States Securities and Exchange Commission (SEC) and Ripple, resulting in the 90% spike in XRP price, Terra Classic might replicate a similar pattern if the court verdict favors Terraform Labs and Do Kwon.
Time Factor Coupled With Massive LUNC Burn
The time factor has been identified to be a significant part of any project. Most formidable crypto projects today are all testimonies of substantial growth time. Terra Classic is just two years into recovering from the historic collapse, which implies that the token still needs a significant timeframe to attain any reasonable height.
Moreover, the consistent burning of LUNC tokens is also a notable factor to send its price beyond $0.1. This is the recommended recovery initiative for the wrecked project, as a reduction in the gargantuan Terra Classic supply will help bring the scarcity that would result in a massive boost in price. However, this also depends on the time factor as the supply can’t be burned down at once.
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Read Also: Professor Edward Kim Transfers CommonWealth Admin Role to Terra Classic (LUNC) L1 Team. Here’s why
Broader Crypto Market Outlook
A positive crypto market sentiment would undoubtedly favor the growth of any crypto project that seeks expansion.
While we hope that the Terra Classic development team is working actively to guarantee LUNC’s growth, we also hope that the crypto market outlook is favorable enough to accommodate the token’s growth.
Terra Classic (LUNC) Market Printings Today
Per CoinGecko, LUNC’s price at press time is $0.00007790, reflecting a 0.7% increase with a market cap valued at about $452,810,972 that saw it rank 92 on the cryptocurrencies ranking. LUNC boasts a 24-hour trading volume of $16,385,995 and a massive circulating supply of 5,815,590,354,774 tokens from a total supply of 6,839,018,440,411 coins.
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