With its price struggling, CoinCodex’s AI-powered algorithms foresee brighter days ahead, predicting a significant increase by the end of January.

Read Also: Terra Classic Sees Massive Surge in Transaction Volume, As LUNC Price Signals Revival

Harnessing data analysis and market indicators, these algorithms anticipate a jump in LUNC’s value, pushing it to $ 0.000142 by January 31. However, LUNC is expected to reach its peak price for the next 30 days on January 21, with CoinCodex predicting $ 0.000147.

However, this isn’t the end of the road for LUNC. CoinCodex sets the price range for 2024 between $ 0.000106 and $ 0.000227. Reaching the upper target will represent about an 88% surge from its current price.

A Potential Resurgence?

This optimism echoes crypto analyst Javon Marks’ (@JavonTM1) New Year post. In his analysis, Marks highlighted “continuing bullish signals” on lower timeframes, which he suggested signaled the early stages of a “massive, market-shaking move.”

His optimism was based on the recent breakout for LUNC, which saw the token climb over 1008% from its pre-breakout levels. Based on this momentum, the analyst envisions a potential rally towards $0.001553 and beyond, representing a staggering 10x increase from current prices.

Because the LUNC ecosystem’s recent proposal to burn 8 million USTC did not prompt a major surge, some may scoff at such a bold prediction. However, several factors can contribute to a resurgence.

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Read Also: Can Terra Classic Bulls Continue LUNC Price Rally After Upcoming Major Upgrade? Details

As crypto market analyst Derek (@kimmyboy2) pointed out on January 5, the MACD indicator’s DIF and DEA lines are undergoing compression, possibly indicating an internal recalibration that aligns with current market conditions.

The broader cryptocurrency market is also gradually recovering, providing a favorable backdrop for individual coins like LUNC. Ongoing token-burning initiatives can also help reduce LUNC’s supply, potentially increasing its value.

These combined factors paint a promising picture for LUNC in the coming weeks and months. While short-term price fluctuations are inevitable, the underlying trends suggest a sustained upward trajectory fueled by AI predictions, analyst insights, and persistent community support.

There’s also the upcoming Bitcoin halving event, which could send LUNC to astronomical heights. LUNC is on the brink of a massive move, and investors have to keep their eyes on it.

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The decision, although controversial, has been passed, leaving a negative impact on the price of LUNC and USTC and raising concerns about its long-term viability.

Read Also: Terra Classic Sees Massive Surge in Transaction Volume, As LUNC Price Signals Revival

Proposal 11888 seeks to shrink the validator set from 135 to just 100. Proponents argue that this streamlined approach will enhance network security by preventing potential attacks. Critics of the initiative also expressed concerns about the risks of centralization.

They fear that such a move could undermine the decentralized nature of the blockchain and hinder the growth of smaller validators, who play a crucial role in maintaining network diversity and resilience.

The voting results have shed light on the internal conflict within the community. While 31.69% of voters supported the proposal, 22.49% openly opposed it, and 46% abstained from voting altogether. Notably, well-known validators, including Allnodes, chose not to take a definitive stance, highlighting the intricacies of balancing security and decentralization.

The approval of Proposal 11888 has had a noticeable impact on the network’s assets. LUNC and USTC, the native tokens of the Terra Classic ecosystem, experienced a sudden decline in price and trading volume. This reflects investor caution and uncertainty surrounding the network’s future.

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Read Also: Analyst States Why Terra Classic (LUNC) Needs To Hold Above 200 Moving Average (MA)

The decline, combined with the absence of major updates and the lingering effects of previous turmoil, further complicates the path ahead for Terra Classic.

The recent decision to reduce validators has sparked a critical dialogue within the Terra Classic community. While prioritizing security is crucial, the potential drawbacks of centralization cannot be overlooked. To ensure the network’s long-term success and its ability to navigate the evolving crypto landscape, open communication, careful consideration, and community involvement are paramount.

As the Terra Classic community grapples with this challenging issue, it is essential to engage in open dialogue and carefully evaluate the potential risks and benefits of planned developments.

A commitment to inclusivity and a thorough examination of the trade-offs between security and decentralization will be vital in determining the future of the Terra Classic network.

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The post Here’s the Major Reason Why Terra Classic (LUNC) Is Facing Downtrend Today appeared first on Times Tabloid.

Despite the community’s efforts, a popular crypto prediction AI tool has down seeds of uncertainty, with predictions suggesting a prolonged period of stagnation followed by a potential 100% devaluation by 2030.

With LUNC still struggling to recover from the almost 100% decline after the crash, recovery from another 100% decline might be impossible.

AI-Powered Predictions Paint a Mixed Picture

Despite its tarnished reputation, many LUNC community members remain optimistic about the digital asset’s potential comeback. CoinCodex, a prominent AI-based prediction platform, has offered specific price targets for LUNC in the coming years, providing insights into the token’s possible trajectory.

According to CoinCodex, LUNC’s short-term outlook appears relatively stable. Over the next five days, LUNC is expected to maintain its current value, indicating a neutral 5-day projection. This prediction suggests that the token’s price may not experience significant fluctuations in the immediate future.

Prolonged Stagnation Followed by Potential Devaluation

However, CoinCodex’s long-term predictions for LUNC paint a more challenging picture. From 2024 to 2027, LUNC is anticipated to enter a period of stagnation, with its projected price remaining around $0.00007681 throughout these years.

This prolonged period of stability could indicate a lack of growth potential for the token. The community recently approved a major upgrade, and a lack of growth after all this effort comes as a serious blow.

However, CoinCodex’s AI predicts a slight upward trend, with a potential yearly high of $ 0.00008704. However, this potential increase is followed by a sharp decline in 2028, with LUNC predicted to crash to $0.00003150. However, the predicted yearly high is $ 0.000324, so LUNC could also rise significantly.

2029 also has a wide range for LUNC. Although LUNC could trade as high as $ 0.000722, the expected yearly low is $ 0.0000000003445.

For 2030, CoinCodex predicts a drastic devaluation, setting the yearly low at $ 0.0000000005492 and the yearly high at $ 0.000000003149.

At the time of press, LUNC is trading at $0.00007608, and a drop to the projected value by 2030 will represent a drop of approximately 100%.

Uncertainty Ahead

These AI-powered predictions highlight the uncertain future of LUNC. While optimism remains within the community, the token’s price is expected to experience significant fluctuations and potential devaluation in the coming years.

However, this massively bearish prediction can be overturned if the project builds more use cases and attracts tons of users for adoption.

These new predictions are also lower than Coincodex’s former predictions for LUNC, which worsens the outlook for the token. Only time will tell whether LUNC can overcome its challenges and regain its former glory.

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The post Terra Classic (LUNC) Is Projected To Face 4 Years of Price Stagnation Before 100% Crash By 2030 appeared first on Times Tabloid.

LUNC, the native token of the Terra Classic blockchain project, continues to struggle in the crypto market ever since its dramatic collapse in May. At press time, the asset is trading for $0.0001622 per token with no signs of staging a significant rally.

On a broader view, the sentiment around the LUNC token remains bearish as the token lacks notable adoption from the wider crypto community coupled with the recent lawsuit filed against Terra founder Do Kwon by the United States Securities and Exchange (SEC). 

While Terra Classic community members and other traders are left to wonder what the price action of LUNC would be in the next couple of days, the world’s leading crypto price predicting and market forecasting platform, PricePrediction believes LUNC would stage a minor dip at the start of next month. 

Read Also: Many Terra Classic Enthusiasts Don’t Believe LUNC Would Reach $1 by 2043, Recent Poll Shows

According to the machine learning algorithm on the platform, LUNC is expected to hit the $0.000156 mark on March 1, 2023. The algorithm arrived at this prediction using the relative strength index (RSI), moving average convergence divergence (MACD), moving average (MA), average true range (ATR), Bollinger bands (BB), and other tools.

This 30-day Terra Classic price projection denotes a 3.8% decrease from the LUNC’s value at the time of writing. More so, the asset is showing a decline of about 7% in the past 7 hours and a decline of about 9% in the last 30 days.

The machine learning algorithm further reveals a bearish trend in the long-term price of LUNC. In the next 7 days, the price of Terra Classic is expected to decrease by $0.00000377, reaching $0.00016 by March 2, 2023.

Read Also: LUNC Up by 53% From December Low as Terra Classic Begins To Bloom Again

But in the short term, LUNC is currently sustaining a bullish trend so investors should expect a slight increase over the next few hours. This positive trend for LUNC is likely fueled by the upcoming play-to-earn (P2E) game coming to the Terra Classic blockchain by Q2 of 2023.

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The crypto influencer Asobs, who initiated this survey expressed amazement as many members of the Terra Classic community do not believe LUNC would increase by a large margin in the next 2 decades, despite the many developments surrounding the crypto project. 

On Thursday, Asobs created a poll on the blue bird app, requesting Terra Classic community members to agree or disagree that LUNC would hit $1 by 2043. “Can LUNC hit $1 in the next 20 years?” he asked. 

Per the result at the end of the voting, a total of 412 users engaged in the poll. Notably, 68.4% of voters, representing 281 LUNC enthusiasts, subscribe that the token could touch $1 within this specified timeframe.  Whereas 31.4% of voters, depicting 130 Terra Classic community members, do not believe so.

Can $LUNC hit $1 in the next 20 years?

— Asobs (@Asobs_CNG) February 9, 2023

Read Also: Top Terra Classic Enthusiast States Fastest Way To Grow LUNC Price by 100x or More

Among those who expect LUNC to rally as high as $1 is Asobs. He wrote, “Surprised 31% said LUNC won’t hit $1 within the next 20 years,” sharing a YouTube video that reveals a conservative plan for a LUNC to $1. “It’s very possible we could see LUNC at $1 even sooner,” he added.

Likewise, Tobias Andersen (AKA Zaradar), one of the core contributors in the Terra Classic community and a lead member of the LUNC Joint L1 team believes LUNC would go above $1 in the next 20 years, telling how that would be made possible. 

According to him, the $1 mark for LUNC will not come without tangible use cases being attached to the crypto asset. This point, therefore, makes the anticipated Terra Classic Layer 2 decentralized finance (DeFi) project — Terraport — an important addition to the community. As previously reported, Rex Harrison, a senior TerraCVita member shared the ultimate goal of Terraport for LUNC.

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Many forward-moving proposals were rolled in the token community, including the Signal proposal to repeg TerraClassicUSD (USTC), which recently passed governance voting. Also, the LUNC development team is on the course of upgrading the Terra Classic blockchain from the current version to an advanced version —v.1.0.4 to v.1.0.5. 

As stated by Edward Kim, a top LUNC developer, and enthusiast, this fast-approaching development would allow for more functionalities on the Terra Classic blockchain. As earlier reported by Times Tabloid, the upgrade would enable the Joint L1 Task Force to meet Binance’s condition to resume its voluntary LUNC burning. 

Interestingly, the largest blockchain ecosystem and leading digital assets exchange announced support for the upcoming Terra Classic blockchain upgrade, stating that LUNC trading will not be affected during the period of executing the network upgrade. 

Read Also: Binance Removes Warning Labels on Terra Classic (LUNC) and USTC. Here’s the Significance

LUNC Spikes by Over 53%

A closer look at the LUNC/ USDT chart on Binance showed that the digital asset has been on a steady uptrend since December, although there have been several bumps on the way, masterminded by the bears. Accordingly, LUNC has recorded a 53.2% price increase in the past seven weeks. 

It bears noting that LUNC fell to as low as $0.000121 on December 16 as the FTX contagion continued to spread across the entire cryptocurrency market. However, LUNC has gained massively since then, overcoming every resistance to claim the $0.0001842 high at the time of writing. More so, LUNC reached a high of $0.000211 on February 3 before the bears dragged the price down. 

But it is predicted that LUNC would stage another rally as the token community members and other projects remain focused on reducing the hyperinflated initial total supply of Terra Classic (6.9T) to 10 billion units only.

In the past eight days alone, more than 411 million LUNC was burned, taking the total number of LUNC burned to approximately 38.7 billion and counting.

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Of course, there have been many reactions to these concerns, with different pundits handing out their distinct predictions and factors needed for a such magnitude of increase in the price of LUNC. Among those who have disclosed their LUNC price protection is Tobias Andersen (AKA Zaradar), one of the core contributors in the community and a lead member of the Terra Classic L1 team. 

According to him, the $1 mark for LUNC will not come without tangible use cases being attached to the crypto asset. Likewise, he added that the expected re-peg of the algorithmic stablecoin TerraClassicUSD (USTC) would only come with utility. On the whole, he believes LUNC would go above $1 in the next 20 years.

He wrote;

“I think LUNC will eventually be worth more than 1 USD. This is why I keep accumulating it personally. But at the end of the day you should do your own research and never buy anything you’re not willing to own forever.”

“If LUNC becomes integrated with machine-to-machine (M2M) use cases then our current supply of 7 trillion would not be enough over a period of 20 – 40 years. So no, LUNC won’t be worth 1 USD tomorrow, but if we can use it for the ideas we have in mind it might be worth more than 1 USD in 20+ years”

If LUNC becomes integrated with M2M use cases then our current supply of 7 trillion would not be enough over a period of 20 – 40 years. So no, LUNC wont be worth 1 USD tomorrow, but if we can use it for the ideas we have in mind it might be worth more then 1 USD in 20+ years

— Tobias Andersen (@ZaradarBH) January 15, 2023

Tobias Andersen (AKA Zaradar) implied that a synergy between Terra Classic (LUNC) and Terra 2.0 (LUNA) could help position both projects for growth. Although the TerraForm Labs representative, Jared, believes both projects cannot merge, Zaradar believes LUNC and LUNA can coexist and complement each other’s strengths and weaknesses.

He noted;

Here is why I think LUNA + LUNC can co-exists:

“LUNC = high velocity M1 supply well suited for games (metaverses), M2M payments (IOT) and other supply chain / remittance scenarios.”

“LUNA = store of wealth. Because LUNC with 5+ trillion supply lacks scarcity”

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The post Popular Terra Classic Developer Reveals How LUNC Would Reach $1. Here’s His Timeline appeared first on Times Tabloid.

However, in a recent tweet, one of the validators on the Terra Classic network dropped a hot take regarding the price of LUNC, pinpointing what the community needs to do to drive up the value of the embattled token in the market. According to the independent validator,  LUNC To The Sun (LUNCTTS), LUNC burning and staking are among the key actions that would take LUNC to $0.01 per token. 

As stated by LUNCTTS, 30% of the hyperinflated Terra Classic supply needs to be taken out of supply for LUNC to hit $0.01. In other words, LUNCTTS noted that the community needs to burn 2 trillion LUNC, out of the total supply of approximately 6.9 trillion tokens to catapult LUNC from its current price of $0.000142 to $0.01.  

Per the update, the independent LUNC validator further revealed that the market capitalization of Terra Classic has to hit $48.1 billion and the total supply of LUNC reduced to approximately 4.8 trillion for the assets to hit one cent in market value. 

“LUNC Community, we have to burn 30% of Lunc to see it at $0,01. All together we can, but we all need work for the same target, we need to focus on burn,” part of the tweet read. 

#LUNCCOMUNNITY we have to burn 30% of $lunc to see it at $0,01 all together we can, but we all need work for the same target, we need focus on burn. So please all of you give some GOOD (not stupid) idea on how to reach it. #luncvalidator pic.twitter.com/EH1LXbScbz

— lunctts.com Lunc to the Sun, stake with us. (@lunctts) December 16, 2022

Related: Terra Classic Prediction As Crypto Prices Bounce in the Market. Is LUNC to $1 Feasible?

However, the popular influencer and fellow LUNC validator, Classy, predicted that LUNC would hit $0.001 in the near term. Subsequently, he shared four major measures that could help pump the Terra Classic token. 

It is worth noting that more than 36.1 billion LUNC have been taken out of circulation courtesy of the LUNC tax burn and other burn activities. As shown on the LUNCPenguin burn tracker, Binance, the largest crypto exchange by trading volume, is the leading contributor to the Terra Classic burn escapade. So far, the exchange has destroyed about 20.1 billion LUNC while other entities like LUNC Tax and Lunatics Token have destroyed 11.2 billion and 2.2 billion LUNC respectively. 

LUNCBTT Proposes 0.6% Tax Rate

In line with LUNCTTS’ belief that more burn would hasten the revitalization of LUNC, Alessandro Nardaggio of Lunctts published a proposal on Saturday to increase the tax rate. In the proposal, it is suggested that the tax rate be increased to 0.6% while 20% of tax revenue is channeled to the financing of ecosystem infrastructure and contributors.

Recall that the LUNC tax burn on the Terra Classic chain was initially kept at 1.2%. However, the community agreed to reduce it to the current 0.2% level which was greatly supported by CZ Binance.  According to Binance, a high tax rate signifies greed and will not help in the reduction of the LUNC total supply. At the moment, this recent proposal from the independent Terra Classic validator is yet to pass governance voting. 

I just post a proposal on Agora, Set the tax rate to 0.6% and set aside 20% of tax revenue to finance ecosystem infrastructure and contributors please check and comment it

Please retwwethttps://t.co/TxAbEfLVaY

— lunctts.com Lunc to the Sun, stake with us. (@lunctts) December 17, 2022

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While many Terra Classic proponents and investors are predicting LUNC to hit the $1 mark in the future, a top crypto influencer recently said that $0.001 is more practical for the embattled token to touch.

Terra Classic (LUNC) Heading to $0.001

The Terra Classic native token LUNC continues to underperform following the fall of Do Kwon’s ecosystem earlier this year. Coupled with the general crypto market turbulence, LUNC has fallen more than 100% from its all-time high of $119.18. 

According to Classy Crypto, a pseudonymous validator on the Terra Classic network and a known influencer in the crypto community, LUNC is likely to hit a $0.001 mark price sooner than later. In other words, Classy Crypto expects LUNC to increase by over 479% in the near term, from its price of $0.0001726, at press time. 

Although he mentioned that his LUNC price prediction is not financial advice, the continuous developments recorded in the Terra Classic ecosystem are a pointer that LUNC could reach the forecasted dollar valuation in the coming weeks or months. 

“My own personal opinion on $LUNC is. LUNC to $0.001. NFA,” Classy told his over 55k Twitter followers on Sunday. 

My own personal opinion on $LUNC is…#LUNC to $0.001.

NFA.

— Classy (@ClassyCrypto_) December 4, 2022

Read Also: FTX Wallet Holding 154.3 Billion LUNC Discovered. Can this Boost LUNC Burn and Value? Details

LUNC Burn Gains Momentum 

In addition to the numerous developments introduced in the Terra Classic ecosystem, the reduction of the hyperinflated LUNC supply is one of the community’s initiatives to stage a price rally for the token. 

The community stays committed to the goal of burning LUNC and taking the total supply from approximately 6.9 trillion to 10 billion. This led to the activation of LUNC tax burn on the Terra Classic network. Subsequently, several projects that support LUNC burning were rolled out including the Terra Classic Lottery Game, Terra Classic Casino project, and an NFT marketplace among others.

As earlier reported, TerraCVita, an independent group working towards the revitalization of Terra Classic, is on track to deploy a decentralized exchange on the Terra Classic blockchain, designed to support the LUNC burning expedition. 

At the time of writing, Terrarity, the leading LUNC burn tracking platform showed that the total amount of LUNC burned is 35,483,976,755 (~35.5 billion). Binance, the world’s largest blockchain ecosystem, and crypto exchange is the top contributor to the LUNC burn initiative. Data show that Binance alone destroyed over 50% of the total LUNC burned.

Read Also: Terra (LUNA) Developer States What Will Precede USTC Repeg and LUNC Recovery

On December 1, 2022, Binance sent a whopping 6.3 billion LUNC to the Terra Classic burn wallet in one transaction. Therefore, out of the 35.5 billion LUNC burned, 20.1 billion LUNC were taken out of circulation by CZ’s Binance through the 0.2% tax initiative.

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It’s worth noting that the crypto market as a whole is currently in the green. Bitcoin (BTC), the largest cryptocurrency by market cap, has recently surpassed the $17,000 resistance level. Similarly, Ethereum (ETH) is surging closer to retesting $1,300.

Read Also: 40 Million Terra Classic Burned in 24 Hours as a Single Wallet Accounts for 25.8 Million LUNC Burn

Terra Classic Price Prediction

Terra Classic (LUNC) chart shows that there is a gradual accumulation of momentum in the past few days, with its relative strength index (purple) hovering around 60, which suggests overall buying pressure without too much buying. Similarly, its 30-day moving average (red) is about to climb over its 200-day average (blue), forming a ‘golden cross’ that could be a sign of a breakout.

Of course, with the market remaining in a precarious condition, there’s no guarantee that LUNC will enjoy a sustained rally anytime soon, even if it’s arguably due to such a rally.

Its situation also isn’t helped by a recent proposal to use the IBC Bridge to let holders swap LUNC for LUNA. This bridge is due to open at some point later this month, which is when the Terra community would expect swaps to become possible if the proposal is accepted.

In fact, it seems that most holders probably won’t opt to swap their LUNC for LUNA, if the responses of prominent Terra Luna Classic community members/accounts are anything to go by. Some have gone so far as to suggest that the proposal if fully realized, would effectively ‘kill’ Terra Luna Classic.

More importantly, it needs to be stressed that the proposal remains just that, a proposal. It hasn’t been accepted by a sufficient number of Terra Luna Classic validators to actually be enabled yet, and it doesn’t seem like it will.

Read Also: Here’s Why Terra Classic (LUNC) Price Could See Massive Rally In December

Given such opposition, this is perhaps why the price of LUNC hasn’t been affected too much in either direction, with the coin more or less stable over the past week.

Assuming that the proposal is roundly rejected, it will disappear and the Terra Luna Classic community will be able to re-focus on restoring LUNC’s value. The main way it will be doing this is through LUNC’s ongoing token burns, with roughly 28.8 billion LUNC being burned to date.

That said, there remains some 6.88 trillion LUNC in circulation as of writing, leaving the community with a long way to go if it wants to restore the altcoin’s price. For example, a rise to $1 would imply a percentage increase of over 600,000%.

In early October, Binance helped along the supply reduction effort by introducing its own burn of trading fees, yet no other major exchange has followed its example. As such, LUNC holder should set their price targets a little lower for the time being, with $1 being some distance away.

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