Terra Luna Classic is an innovative cryptocurrency that is gaining traction in the market. As of 2023, it has seen a steady rise in its value and is currently inching higher. Despite this, many investors are still skeptical about whether it can reach the $1 mark.
This article will discuss the potential of Terra Luna Classic to reach $1 in 2023, and how its current performance could impact its future prospects.
Unlock The Benefits Of Terra Classic Validators Through Burning LUNC Tokens
In just one week, the Terra Classic community has burned through over 20 million LUNC tokens. Its purpose is to increase the burn rate. Furthermore, after the cryptocurrency exchange, Binance delayed its LUNC burn mechanism until March, and validators and network users agreed to burn millions of LUNC tokens.
The Terra Classic community recently approved two critical proposals to increase the LUNC burn rate. In practice, proposals 11242 and 11243 reduced contributions to the community pool while increasing the burn rate. Proposal 11242 will abolish the seigniorage incentive policy, putting an end to LUNC re-minting from burns.
MASSIVE $LUNC BURN ALERT
Our $LUNC burn and build node just burned 20 MILLION Terra Luna Classic!!!
I wanted to give back to you guys in a massive way, thank you to everyone who stakes with my node that made this possible!!!
— Crypto King (@CryptoKing_NFT) December 23, 2022
Proposal 11243 will raise the gas tax, and 50% of the transaction fee will be donated to the community pool to assist developers. On January 25, the validator HappyCattyCrypto tweeted that an additional 9M LUNC were sent for burning. It is the most tokens burned this week, with Cremation Coin coming in second with 7.2 million LUNC tokens burned.
It could imply that the community is planning to burn billions of LUNC tokens in 2023. The burn has increased LUNC demand and the number of investors purchasing the coin. As a result of continued token burning and a broader market recovery, LUNC/USD has risen significantly.
Community Supports Reviving Binance Burns
Edward Kim, a Terra Classic core developer, presented proposal 11310, which was unanimously approved. The voting period officially concluded on January 25. The proposal calls for the blockchain to be upgraded from version 1.0.4 to version 1.0.5 and includes codes that will allow for future updates.
On February 14, block 11,543,150 will be upgraded. It will make estimating transaction fees (gas and burn tax) and future chain modifications easier and more accurate.
The proposal also assists the Terra Grants Foundation in implementing the necessary changes recommended by the Binance exchange. It raises the prospect of the exchange restarting its LUNC token-burning process soon. The LUNC/USD has recently seen a significant increase as a result of the community’s renewed interest.
Australian Crypto Exchange Listed Terra Luna Classic
On January 17, Cointree, Australia’s largest cryptocurrency exchange, tweeted about a list of three of the most well-known alternative cryptocurrencies. The token was listed on the exchange following the continuous top trending of LUNC-related hashtags on Twitter.
— Cointree (@CointreeAus) January 17, 2023
Cointree was one of the first cryptocurrency platforms in Australia. It gives you access to approximately 280 coins. Furthermore, as the cryptocurrency industry matures, Australia is poised to set global standards for regulation and consumer protection for cryptocurrency exchanges and custodians.
As a result, adoption in Australia adds to the Bull Run’s strength, and LUNC/USD may rise.
Terra Luna Classic Price Prediction
The Terra Classic cryptocurrency is currently valued at $0.000172 and has had $76 million worth of trading in the last 24 hours. Unfortunately, there’s been a 1.5% decrease in its value over the last day. It stands at 50th place on CoinMarketCap with a market capitalization of about $1 billion.
On the technical front, the LUNC/USD pair has formed a symmetrical triangle pattern, signaling indecision among investors. LUNC is likely to face immediate resistance near $0.000175, and a bullish break above this level has the potential to lead LUNC toward the $0.000185 level.
Currently, the lowest price that LUNC is trading at is $0.000166, however, if this support level breaks, it can lead to a further downward trend and could cause prices to fall to as low as $0.000159.
LUNC Price Chart – Source: Tradingview
The Relative Strength Index and the Moving Average Convergence Divergence indicator readings are not providing any clear buying or selling signals. Additionally, the price remains bearish below the 50-day Simple Moving Average of $0.000175.
Currently, LUNC is not close to reaching the $1 mark; nevertheless, it has an impressive upside potential.
Three Cryptos That Are Worth Investing In Now
The presale stages of new cryptocurrency projects are vital for gauging their future success as it is one of the best metrics. Every day, many such projects enter the market, so it is important to pay close attention to the presale stage if you are considering investing.
Investing in these three cryptos, namely MEMAG, FGHT, and C+Charge which are currently in presale can be a great opportunity. They all have the potential to yield high returns for investors.
Meta Masters Guild (MEMAG)
MEMAG is the fastest-growing P2E guild in 2023 as it is creating entertaining and rewarding games with a singular focus on the mobile gaming market. Meta Masters Guild aims to promote blockchain adoption by introducing a web3-based mobile gaming platform for everyone to explore.
#MEMAGFAM, the future of gaming is here, and we're leading the charge! ️
We've raised over $1.45M and counting!
— Meta Masters Guild (@MEMAGgames) January 26, 2023
Meta Masters Guild (MEMAG) users can participate in a variety of fun mobile games to earn GEMS or game currency. These tokens can be traded for native ERC-20 MEMAG tokens and bought and sold on open markets in addition to being used to upgrade in-game characters. Pre-sale MEMAG tokens are now available, so invest quickly for the best future returns.
Stage 3 of the $MEMAG token presale has begun, and tokens are selling fast!
Buy $MEMAG in Stage 3 of the presale before the next price increase!
— Meta Masters Guild (@MEMAGgames) January 26, 2023
Moving on, the $MEMAG token will likely reach new heights shortly thanks to a gaming community of players who keep coming back for more. The fact that players don’t need to make any initial financial investments is one of the best features of Meta Masters Guild. Meta Masters Guild is already in Stage 3 of its presale. So, buy now before there is another price increase at the next stage.
Fight Out (FGHT)
Fight Out is yet another new cryptocurrency project based on the market’s best Move-to-Earn fitness app. Users can download the app and earn REPS, or “in-app tokens,” each time they work out.
By releasing a new app that rewards users for leading a healthier lifestyle and completing exercises, Fight Out (FGHT) is shining a light on a massive fitness market.
Want to experience the power of community and earn rewards for your fitness progress?
Then join the Fight Out presale before it's too late! The earlier you get in, the better ⚡️
— Fight Out (@FightOut_) January 25, 2023
Fight Out uses individual avatars to track your real-life workouts and display your progress toward your goals. This straightforward visual representation of your progress encourages users to return for more. Fight Out is clearly gaining traction, with presale stages performing admirably.
Another price increase is on the way, so act now or risk missing out.
C Charge (CCHG)
C+ Charge is yet another new cryptocurrency platform that will make its CCHG token holders super rich in the coming years. The platform is made for owners of electric vehicles (EVs), and since that sector of the economy is expanding, C+ Charge is anticipated to soar in the coming years.
Fight Out - Next 100x Move to Earn Crypto
- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $4M+ Raised
- Real-World Community, Gym Chain