Terra Price Prediction: Will LUNA Reach $10? | marketrealtime.com

Terra (LUNA): The Pragmatic Perspective

Moving away from today’s conventional cryptocurrencies before we start with Terra price prediction, let’s know a bit about the ecosystem. LUNA was launched in 2018 by Terraform Labs, owned by Do Kwon and Daniel Shin, which has brought about a change as a decentralized financial payment network that replaces the conventional payment stack on the blockchain. Terra ecosystem uses fiat-pegged stablecoins to power price-stable global payments systems.

The unique feature of Terra (LUNA) acts as a major catalyst in entirely removing the hurdle concerning token mining. In a manner, it promotes transparency by eliminating the mediators or permission. Hence, instead of the individual cryptocurrencies like Bitcoin, the native token of Terra, called LUNA, is more like a programmable asset that addresses speed, scalability, and accessibility issues. Let’s understand the Terra (LUNA) price prediction for the future.

Terra Overview

Cryptocurrency Terra
Ticker Symbol LUNA
Price $1.15
Price Change 24H +2.58%
Price Change 7D +24.81%
Market Cap $206,051,568
Circulating Supply 127,475,474 LUNA
Trading Volume $98,161,177
All Time High $19.54
All Time Low $1.17
Terra ROI No Data

Understanding of Terra 2.0 (LUNA)

After the original LUNA token was devalued in May 2022, it was renamed LUNC. Simultaneously, a new blockchain and its token were developed. Terra 2.0 emerged from Terra Classic and is a public blockchain protocol.

After a proposal on May 25 was passed, the idea for this new blockchain was accepted, which was launched on May 27. The LUNA token was distributed through the airdrop technique amongst UST holders, LUNC stakers, and LUNC holders. Also, this new blockchain and token are not pegged to any stablecoins, unlike the previous Terra ecosystem.

Terra 2.0 (LUNA) Token Distribution

After the old LUNA token price fell, a lot of work was done to bring the price back to normal. The CEO proposed to move ahead with a separate blockchain and token Terra 2.0. The earlier blockchain has been renamed Terra Classic, and its token will now be called LUNC.

Below is a small table on how the distribution of the new token has happened!

Terra Forecast

The Rise and Fall of Terra (LUNA)

Due to the sudden price crash, Terra (LUNA) rocked the headlines in May & many got wiped out in this crash. The UST got de-pegged heavily, and Terraform Labs liquidated all their 40K BTC holdings to stabilize the UST peg, which led to a massive crypto crash.

LUNA price and UST both corrected massively. UST lost its peg, and the new LUNA coins were minted, which impacted its price heavily. Also, a popular lending protocol, anchor witnessed huge ANC withdrawals as it offered a 20% yield on UST deposits.

After the enormous fall in LUNA’s price, most people had one question in mind, “Can Terra go back up?” or “Can Terra Ever Recover?”. The CEO of Terralabs, Do Kwon, proposed a revival plan for LUNA of forking the Terra Blockchain. The new blockchain has been created alongside a billion LUNA tokens, distributed among current LUNA and UST holders, and funds the development of new Terra apps. The new blockchain and the token launched in the last week of May.

The new blockchain has become Terra (LUNA), and the existing blockchain is rebranded as Terra Classic (LUNC). The existing blockchain continues to function, but its (Mint/Burn) function has stopped, and all the balances have remained as it is.

The new Cosmos chain is a little different from the previous one, and it does not have market modules, oracle, or treasury like the original chain. Terra’s stablecoin (KRT, UST, EUT) has become Terra Classic’s stablecoins (KRTC, USTC, EUTC). But the new Terra Chain has no such stablecoins.

The initial supply of the new token is 1,000,000,000, while the mint module will continue to release new tokens every block as staking rewards. The default rate is approximately 7% per annum.

Recent Terra (LUNA) Price Movements

  • The price of Terra (LUNA) dropped when crypto prices fell in January 2022, correcting to $43.57 at the end of the month, but it rebounded with an upward trend to a new all-time high of $119.18 on April 05.
  • On May 7, over $2 billion worth of UST tokens were unstaked, and hundreds of millions were immediately sold due to price volatility.
  • The price of LUNA declined below $0.84 before leveling off above $1.10, dumping more than 90% as UST struggled to regain its $1 price peg on May 11, 2022.
  • May 28 began the new journey for the new LUNA (Balancing Token), Terra 2.0’s native token.
  • The launch price of the new token was around $7.9. The value went as high as $19 on the same day and closed at around $5.3.
  • After that, the coin mostly trades in a downtrend.

Terra (LUNA): Technical Analysis

Currently, the price of Terra is around $1.69, with a market capitalization of $216,404,398, a circulating supply of 127,475,474.31 LUNA, and a 24-hour trading volume of $81,864,987. Due to the LUNA price crash, many traders and investors lost their trust, but still, many people think that the new blockchain will help Terra’s value recover soon.

On the chart, yesterday’s candle shows a decent rise in price, but today’s candle is red, indicating a slight fear among investors. However, the price stability is much better for the token as compared to its initial days in the market. Technical analysis, as of now, makes a little sense as Terra 2.0 is quite new in the crypto and blockchain industry.

Terra Price Predictions

LUNA, the native token of Terra 2.0, is currently trading above the upper band of Bollinger Bands, indicating that the uptrend may continue. The Relative Strength Index (RSI) is at 54, which shows neutral momentum, while the MACD is trading above the signal line with green histograms, indicating positive momentum.

The short-term outlook looks positive for the token, and this is also because the entire market has started to recover from the May crash. It is difficult as of now to predict anything for the long term. However, don’t consider this investment advice; do your own research before putting your money into any crypto.

Terra (LUNA) Price Prediction 2022-2030

Year Minimum Price Maximum Price
2022 $1.45 $2.10
2023 $2.25 $3.78
2024 $2.34 $4.11
2025 $3.25 $4.91
2026 $3.47 $5.75
2027 $3.66 $6.14
2028 $4.57 $7.53
2029 $5.98 $8.23
2030 $6.43 $9.15

The only relief factor about the current crypto market condition is that it has not done any discrimination regarding currencies. Most fiat money and cryptocurrencies have met the same unfortunate fate. However, cryptocurrencies recovered in a short span compared to other financial avenues. Many investors are still apprehending the clash of the remaining titans, considering whether it is really worth investing in cryptocurrencies, and are taking support of crypto predictions to ensure their money remains safe.