Lunc Price Prediction: Today’s Lunc Price, 25th Nov 2022

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25th Nov, 2022. 12:47 am
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As the market continues to be affected by the FTX crash and subsequent hack, the price of Terra Luna Classic has dropped by 3% in the last day. With continued token burning now doing nothing to offset the consequences of poor investor sentiment, LUNC is down 13% in the last week and 35% in the last 30 days, it is down at $0.00015053.

However, the Terra Luna Classic ecosystem and community continue to maintain the LUNC pricing as best they can, with a request to re-peg USTC to $1 being made last month. If carried out, such a scheme would result in LUNC’s price rising noticeably, possibly recovering to $1 or higher.

Today’s Lunc Price

Luna Classic’s price today is $0.0001615 USD

DATE	Luna Classic	USD
Today	01	$ 0.0001615

Terra Luna Classic Price Prediction

The price chart for LUNC shows that the altcoin is currently not experiencing any momentum. In the last few days, its relative strength index (purple) has fallen to 30, signalling a spike in selling.

Meanwhile, the 30-day moving average’s (red) distance from the 200-day moving average’s (blue) continues to narrow and may soon bottom out. If so, this would indicate an impending bounce, however it’s unclear when this would happen given that the market is still reeling from the FTX fall.

Nevertheless, a few developments in the Terra Luna Classic ecology imply that LUNC may rally at some point in the future. The most notable example is a proposal that developer Tobias Andersen made last month that would re-peg USTC, the stablecoin to which LUNC’s price has historically been connected.

By increasing burn taxes on USTC and LUNC as well as interest rates and staking lock-up periods, this proposal would establish a system of “quantitative tightening.” Theoretically, this would remove substantial amounts of USTC and LUNC from circulation, and consequently, the prices of both currencies would rise over time.

This suggestion is still only that as of this writing. However, the news of its publishing caused USTC’s price to double in the second week of October, giving both coins optimism for future price increases.

Its release also exemplifies how the Terra Luna Classic community is working together to develop ideas to raise the prices of LUNC and USTC, respectively. While it has now decreased to a 0.2% burn for all on-chain LUNC transactions from the 1.2% tax burn it implemented back in September, there are still calls for the rate to increase even more.

Further reducing the amount of the coin in circulation are the burns that exchanges like Binance have implemented for LUNC deals. But since there are still 6.879 trillion LUNC in circulation (down from 6.9 trillion about a month ago), it will be a very long time before burns have a significant effect.

Lunc Price Prediction: Today’s Lunc Price, 25th Nov 2022

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