Terra Classic remains one of the most underperforming tokens in the cryptocurrency community following the gigantic misfortune suffered by the project in May 2022, which was caused by the depegging of USTC. LUNC is currently ranked 78th on the biggest cryptocurrencies by market cap list.
Accordingly, investor interest in the project appears to be very low coupled with the incessant negative issues happening in the ecosystem. However, the various independent Terra Classic development teams continue to work on projects that may help revitalize LUNC.
Notably, the Terra Classic Layer-1 Task Force headed by LuncBurnArmy recently disclosed plans to work repegging the collapsed stablecoin USTC using the divergent fees protocol and buy & burn mechanism suggested in a proposal by Redline Drifter. Likewise, the hacked Terra Classic decentralized finance project Terraport is now back online as earlier reported.
Despite the fact that affected Terraport users are yet to recover their stolen assets as revealed by a top community member reXx, the relaunch of Terraport is a massive positive development that could help increase positive sentiments around the project.
LUNC Price for July 31
It bears mentioning that there have been many price predictions for LUNC from several TA experts and renowned crypto punters in recent times with a popular validator on the Terra Classic network saying $0.01 is more realistic in the near term for LUNC.
Courtesy of the Machine Learning (ML) algorithm on the crypto tracking platform PricePrediction, another practical LUNC price forecast has been rolled out to further boost investors’ confidence.
Using many trusted technical analysis indicators such as Moving Average (MA), Relative Strength Index (RSI), and Bolinger Bands, moving average convergence divergence (MACD), average true range (ATR) among others, the Machine Learning algorithm indicated that LUNC would touch $0.000076 on July 31, 2023.
But within the last 30 days, the price of LUNC decreased by about 18%, according to the crypto analytic platform Coinmarketcap, giving investors ample opportunity to fill their bags.
Out of these 30 days, LUNC has had 15 days of positive price movement, accounting for 50% of the observed period. At the time of writing, LUNC is trading for $0.0000083, showing an increase of over 2% in the past 24 hours.
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