Despite falling down the pecking order in the cryptocurrency ranking list, Terra Classic (LUNC) remains on the watchlist of several crypto investors, especially those hoping to amass tremendous profits with not-so-large investment capital.
At the time of writing, Terra Classic (LUNC) is trading at $0.000101, with a 1.48% price upsurge in the last 24 hours, according to CoinMarketCap.
Read Also: Google Bard Predicts Terra Classic (LUNC) Price Should Bitcoin Hit $200,000 After Halving
Like every other crypto asset struggling to attain sustainable price expansion, the Terra Classic (LUNC) circulating pool has been hindering its price ascent since the Terra blockchain implosion of May 2022, which resulted in the minting of trillions of tokens.
Terra Classic (LUNC) boasts a massive supply of roughly 5.8 trillion tokens. While there have been efforts to bring down the supply, it might take a longer time to achieve anything tangible due to the current burn rate.
Judging via another perspective, attaining remarkable price increments might not necessarily involve cutting supplies; scenarios like capturing a reasonable part of the global market cap can occur, leading to price appreciation.
Per CoinGecko, the global market cap is standing at about $1.73 trillion, with Bitcoin (BTC) making up a big chunk, contributing about 48.66%. On the other hand, stablecoins combine to make up about 7.87% of the total market cap.
Based on calculations, LUNC’s $583.6 million market cap will contribute only 0.033% of the entire crypto market cap.
In a scenario where Terra Classic (LUNC) succeeds in capturing 5% of the entire market cap, it implies that its market cap will surge to about $86.5 billion.
Read Also: Top Artificial Intelligence (AI) Tool Sets Terra Classic (LUNC) Price for January 31
A $86.5 billion market cap signifies a 14,722% increment in the Terra Classic (LUNC) market cap. If LUNC’s circulating supply remains unchanged, its price will surge by approximately 15,052% to attain a $0.015 price status.
Should there be a more sustainable LUNC burn rate, it invariably signifies that the LUNC’s market value would soar higher than the price highlighted above.
In conclusion, while most scenarios described in this insight about Terra Classic (LUNC) capturing 5% of the entire crypto market cap might sound fascinating, readers should understand that the article aims at educating rather than predicting what could happen in the future.
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