Terra Luna Classic Price Prediction: $60 Million of Trading Volume in – Will LUNC Reach $1 by 2023?
Terra Luna Classic’s price dropped 1.5% over the last 24 hours. It is now $0.00017113, while the overall market dips by 0.5%. The altcoin is also falling, but has increased by 1.5% over the past week.
A trading volume of $60million is a decrease of more than 80% from January 14, when the 24-hour volume surpassed $380 million and LUNC’s value soared to $0.00019. It seems like the market is less interested in altcoins, as Terra Luna Classic is currently battling for ways to increase its growth.
Terra Luna Classic Price Prediction: $60 Million of Trading Volume Comes in – Will LUNC Reach $1 by 2023?
The chart of LUNC confirms that it is in the midst a downswing, but that this has not yet been fully realized. Particularly, the 30-day moving average (red), continues to fall below its 200-day average blue. This suggests that LUNC’s prices won’t recover to constant growth until the 30-day has reached its bottom.
LUNC’s relative Strength Index (purple), remains below 50. Although this is a significant improvement from the level it was just a few days ago it still indicates that altcoin lacks the buying momentum to propel it forward.
Currently, LUNC is undergoing community squabbling about how to best move forward Terra Luna Classic. Developers and validators have argued about how much LUNC to burn, and how much to recover, but a new proposal has emerged that requires the cessation or payment to Jacob Gadikian for the sake of “…”Attacking and slandering validators of the Luna Classic Blockchain.”
This is, of course, not a good looking look. This raises suspicions that Terra Luna Classic may not be united enough around a plan to restore LUNC’s value. It could also deter other developers from joining the network for fear of trouble and difficulty.
Despite this, Terra Luna Classic land has seen some positive developments over the past few weeks. These developments raise hopes for an effective way to increase the LUNC price.
Recently, a proposal was passed to update Terra Luna Classic’s blockchain so whitelists could be added to the on-chain tax burning. Binance requested this to be exempted from the on-chain tax burn and allow it to resume its regular trade fees burn (which had temporarily stopped until March).
The burning of LUNC can be redirected to the right track with some To date, 38 billion LUNC were burned This is out of a total circulating supply 6.87 trillion. This number is expected to grow faster if other exchanges follow Binance’s lead and introduce their own LUNC burners.
Gleichzeitig, Terra Luna Classic is always coming up with new ideas that will lead to a higher number of burns.Includes A proposal that allows users to voluntarily consume additional LUNC When withdrawing rewards
There is also a push with the community for interoperability between Terra Luna Classic, Cosmos, and largely through an update to Terra’s implementation of Tendermint. This will allow Terra Luna Classic to attract more developers, more dApps and more users. It will also increase the price of LUNC.
Considering all this activity, there is every possibility that LUNC could see significant gains this year. For many in the community, $0.1 seems like the main target.
If LUNC reaches $0.1, with an expanded burn program, improving market conditions, it could create enough momentum to propel it higher. It has a huge supply of 6.87 trillion LUNC so it still has a long way to go. However, there is little doubt that almost everyone in Terra Luna Classic circles is devoted to restoring the altcoin.
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LUNC is likely to fall in the near term, but there are many other altcoins on the market that offer promising prospects. We’ve compiled a list of the top 15 crypto-projects for 2023 that could offer high returns, as determined by The Analysis Team. CryptoNews Industry Talk team.
This list is updated every week with new altcoins or ICO projects. Make sure you check back often for new entries.
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