Lunc Price Prediction: Today’s Lunc Price, 10th Dec 2022

Luna Classic’s price today is $1.6346079 USD

Terra Luna Classic Price Prediction

Crypto traders who are familiar with LUNC’s pre-Terra environment and the hyperinflation-induced crash prior to LUNC frequently wonder if the cryptocurrency will ever return to its heyday. Some people wonder if it will ever return to $1.

Given the current price of LUNC, which is around $0.0000165, LUNC would need to provide a return of nearly 600,000% to do so. If each token were worth $1 and there were 5.9912 trillion in total supply, LUNC would have a market cap of $5.9912 trillion.

Almost everyone rational would agree that it’s market cap will never reach this level, especially within the next month. Bitcoin’s market capitalization is currently around $320 billion. Furthermore, Bitcoin is the market’s most well-known, widely used, and established cryptocurrency, whereas it is a relic of a long-since-defunct ecosystem that users and developers have mostly abandoned.

What happens if the number of tokens is reduced? Given that a significant increase in the market value of LUNC is unlikely, the only realistic way to return the token’s price to $1 is to drastically reduce its supply. For each token to be worth $1, the token supply would have to be reduced from approximately 6 trillion to approximately 1 billion, assuming that it’s market cap, which was recently just under $1 billion, remains constant. This represents a more than 99.98% decrease in token supply.

Such a drop in supply appears improbable given that the Community has chosen to levy a 0.2% burn tax on transactions. Although there is still a movement in the Luna Classic community to raise the burn tax to 1.2%, this is unlikely to be enough to drive LUNC to $1.

Because nothing can be ruled out in the world of cryptocurrencies, it remains unclear how the community will deal with the coin’s abundant supply. As always, it’s a region worth keeping an eye on.

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