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Terra 2.0 (LUNA) is the most recent iteration of cryptocurrencies on the Terra blockchain. In May 2022, the Terra blockchain experienced a hard fork powered by founder Do Kwon and voted on by the community. This created the new Earth 2.0, with a new cryptocurrency, called LUNA or LUNA2, while the original blockchain and currency took the name LUNA Classic or LUNC. Both blockchains still exist and function separately, which can lead to confusion among new investors.
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Before investing in LUNA 2.0 or LUNC, it is important to understand the history and more importantly the price predictions. Of course, you also need to know what crypto you are investing in.
This article will focus on the price of terra luna 2.0, but will address the classic price predictions of Terra (LUNC). Although prices are not linked in the way stable coins are pegged to another currency, events affecting one blockchain have affected the other in recent months.
Before we get into the LUNA 2.0 price predictions, here is a look at the differences between LUNA and LUNC and why the blockchain forked.
Why was Terra Blockchain forked?
The Terra blockchain, before the hard fork, had two associated cryptocurrencies: LUNA, now called LUNA Classic or LUNC, and terra. Terra was considered a stable coin. Its value was pegged to the value of LUNA and was designed to help stabilize the crypto market.
The problem was that terra (UST), an algorithmic stablecoin, was not pegged to a stable asset like Prayed or even the US dollar, which has been relatively stable for long periods of time. Instead, it was pegged to a coin as volatile as any other cryptocurrency, LUNA.
When LUNA crashed, it fell from a high of about $116 to less than a penny and was eventually delisted. crypto exchanges. UST went with him. As a result, the entire crypto market also experienced losses.
to save the block chain, founder Do Kwon proposed to create a hard fork in the network to permanently disassociate LUNA from UST. On May 28, three days after members of the Terra community voted in favor of the hard fork, LUNA 2.0 was born. The old currency was renamed the Luna Classic (LUNC).
LUNC holders received airdropped Terra LUNA tokens.
LUNA Classic is still linked to Terra UST. But when the UST price shows volatility, the offer of LUNC is modified to stabilize the price of UST. So if UST rises too fast or too high, the supply will drop to LUNC. The opposite also happens.
The new Terra 2.0 blockchain does not contain stablecoins.
LUNA Classic Price History
When the Terra blockchain was first launched and the community launched its ICO (Initial Coin Offerings), LUNC was worth 80 cents. It jumped to $1.31 between April and July 2019.
As of mid-March 2021, LUNC was worth $21. After price corrections and market declines throughout the year, it reached a high of $101.27 on December 24, giving many investors a very Merry Christmas. Many credited the founders for helping to create crypto millionairesgiving people without a lot of money to invest the opportunity to see great returns.
However when the crash happened, LUNC was reduced to fractions of a cent.
Terra 2.0 is the founder’s attempt to revive the blockchain, and as a result, luna 2.0 shows promise as a solid investment.
Terra 2.0 Luna Price History
Terra LUNA 2.0 was released on May 28, 2022 with a price of $17.80 per coin. It quickly plummeted to less than $5 by 4 pm that day. At the end of the month, it shot up to $11.40, but fell in the first half of June 2022 to hit the $2 mark. By June 19, 2022, it was trading for less than $2.
What is the current price of LUNA?
On October 28, 2022, LUNA is trading at $2.44 and has been trending down since mid-October. This follows a spike of over $6 in mid-September. Today, luna 2.0 has a market cap of $310,181,275, placing it at #108 on CoinMarketCap’s list of cryptocurrencies based on market capitalization.
Luna 2.0 has a circulating supply of just 127,475,474, making it a relatively new coin.
What is the price of LUNC today?
The price of LUNA compares favorably with the price of terra classic or LUNC. After his accident in May 2022, he has not recovered. Today, LUNC is trading for just $0.0002424, making it a penny cryptocurrency. However, due to its large circulating supply of 6.59 billion, it has a market capitalization of $1,600,720,995. It ranks 36th on CoinMarketCap’s list of cryptocurrencies based on market capitalization.
But the market capitalization does not indicate that it is a smart investment right now or a reputable coin. CoinPedia responds to the question about the future profitability of LUNC by writing: “After the tragic losses following the depeg event, not much can be said about the altcoin.”
With LUNC priced at just $0.0002424 today, experts believe it could drop to zero after the decimal point by 2023, potentially reaching $0.0016 or even $0.0038 by 2023. These are marginal gains and probably don’t make LUNC an investment. that it is worth it.
It is much more exciting to consider the future profitability of Terra 2.0 LUNA, which could offer a whole new world of earning possibilities for crypto investors.
Luna 2.0 Price Prediction for 2022
LUNA 2.0 currently costs $2.44 per coin. Most of the expert analysts and websites seem to have a positive outlook for LUNA 2.0 in the long-termalthough many reported possible short-term losses.
LUNA price has been down since its inception in May, plummeting at first and eventually leveling off. Gov Capital predicts that the coin will experience a rally towards the end of October, with the price reaching at least $3.14 by November 1, 2022, with a possible high of $4.25.
others are not so bullish for the short term. CoinCodex forecasts a steady drop to $0.82 in the next month.
CaptainAltcoin.com also predicts a steady decline, with the coin falling almost 20%, reaching a price of around $2 at the end of November.
AMBCrypto believes that the coin could reach $2.89 in 2022, with an estimated average price of $2.41.
CoinPedia, on the other hand, is extremely bullish on Terra 2.0 LUNA. The site predicts a low of $8.62 for 2022, with a potential high of $20.29. The site credits Terra’s “fast-growing ecosystem,” noting a “massive market for Terra coins,” for the potential of the crypto.
Luna 2.0 Price Prediction for 2023
CaptainAltcoin.com also has no positive predictions for LUNA 2.0 heading into the new year. The site predicts that the coin will remain hovering around $2 for most of 2023, falling as low as $1.21. The site predicts that it may reach $2.19 in October 2023, which would represent a decline in current value.
On the other hand, Gov Capital sees cryptocurrencies rising in November 2022 and then rising to a high of about $26 in January 2023 and continuing to grow through the year to a potential high of $92.56 in late December 2023.
CoinPedia is even more bullish on LUNA 2.0 by 2023, predicting that the coin could top out at $76.55. However, realistically, regulatory concerns could keep the price at $16.38, which would still represent huge gains from the current price. The site predicts an average of almost $34 for the coin, which is also very bullish compared to some predictions.
LUNA 2.0 Price Prediction for 2025
CoinPedia experts would say that it is a smart move to buy and hold LUNA at this point. “If the network manages to regain the trust of the crypto communityWith developments and community building initiatives,” he says, the coin could reach nearly $250 by 2025, making it a solid long-term investment. If you bought LUNA 2.0 for just $100 today, according to CoinPedia’s predictions, you’d have close to $10,729 if you sold in 2025.
Similarly, Gov Capital predicts that LUNA 2.0 could reach a price of $228.39 by the end of December 2025, with a low of $194.13 and a high of $262.65.
AMBCrypto, on the other hand, predicts that LUNA could rise to an average of $6.00 in 2025, with a low of $4.80 and a high of $7.20.
CaptainAltcoin.com, however, predicts that LUNA could reach $3.88 by 2025 but, after that, the coin could drop to zero by 2030.
Is Luna Crypto a good investment?
Many experts believe that LUNA could be a good investment, but many factors will influence its success, including regulations and whether or not the Terra blockchain can outperform its previous reputation.
Even AMBCrypto, which seems to be bullish at LUNA, he says it depends “on your personal risk appetite,” pointing to recent losses.
Any investment carries risks, and crypto is a high-risk investment at its best. But there are probably more stable coins, including bitcoin Y etherealto invest today.
Information is accurate as of October 28, 2022 and is subject to change.
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