Terra Classic, also known as LUNC, is making waves in the cryptocurrency market. Terra Classic (LUNC) is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems.
It combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements. The genesis block of the new chain was launched on May 28, 2022, rebranding the original Terra Chain as Terra Classic and renaming the original native token — LUNA as LUNA Classic (LUNC).
The term “classic” is a nod to the Ethereum / Ethereum Classic split in 2017. According to CEO, Do Kwon, the collapse of UST in the spring of 2022 is the equivalent moment of the Ethereum’s DAO hack that took place in 2017.
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Terra Classic (LUNC) Price Analysis
As of today, the live Terra Classic price stands at $0.00009811 USD, with a 24-hour trading volume of $121,757,792.16 USD. The current CoinMarketCap ranking is #68, with a live market cap of $573,729,003.34 USD. The circulating supply is a staggering 5,847,713,111,174.95 LUNC, with an infinite maximum supply. (source: coinmarketcap)
Based on various sources, the price of Terra Classic (LUNC) is predicted to see some growth in the near future. According to CoinCodex, the value of Terra Classic is predicted to rise by 6.76% and reach $0.00009829 by June 13, 2023. Similarly, Finbold’s machine learning algorithm sets the price for LUNC for June 30, 2023, at $0.000101.
However, it’s important to note that these predictions are based on current market trends and various other factors, and the actual price can vary. Cryptocurrency investments are subject to market risk, and it’s crucial to do thorough research and consider various factors before making any investment decisions.
ADA, XRP, TRON, LTC: Price Movements
Cardano (ADA): Cardano has been showing a steady performance in the market. Its unique two-layer architecture and focus on security through a layered architecture make it a promising cryptocurrency. However, it’s important to note that ADA’s price can be influenced by the overall development and adoption of its blockchain technology. The current price of ADA is $1.32. It has seen a 1.2% increase in the last 24 hours and a 2.6% decrease in the past 7 days. The market cap is approximately $42,313,682,267. More Info
Ripple (XRP): Ripple’s XRP has been a major player in the crypto market due to its real-world utility in the banking and remittance industry. However, it’s currently facing a lawsuit from the SEC, which has created some uncertainty around its future. Despite this, XRP has maintained a relatively stable price, demonstrating its resilience. The current price of XRP is $0.62. It has seen a 0.8% increase in the last 24 hours and a 3.1% decrease in the past 7 days. The market cap is approximately $29,287,930,791. More Info
Tron (TRX): Tron is known for its high throughput and scalability, making it a popular choice for decentralized applications (dApps). Its recent partnerships and developments in the DeFi and NFT space could potentially drive its price upwards. However, like all cryptocurrencies, it’s subject to market volatility. The current price of TRX is $0.078. It has seen a 0.9% increase in the last 24 hours and a 2.7% decrease in the past 7 days. The market cap is approximately $5,582,122,056. More Info
Litecoin (LTC): Often referred to as the silver to Bitcoin’s gold, Litecoin offers faster transaction confirmation times and a different hashing algorithm. It’s one of the oldest cryptocurrencies and has maintained a strong market presence. Its upcoming Mimblewimble upgrade could potentially enhance LTC’s privacy and fungibility, which might impact its price positively. The current price of LTC is $89.40. It has seen a 1.0% increase in the last 24 hours and a 6.1% decrease in the past 7 days. The market cap is approximately $6,536,096,389. More Info
Key Takeaways:
- Terra Classic’s Current Position: With a live market cap of over $573 million and a 24-hour trading volume exceeding $121 million, Terra Classic is a significant player in the crypto market. Its current CoinMarketCap ranking is #68, indicating its potential for growth.
- The Genesis of Terra Classic: The rebranding of the original Terra Chain to Terra Classic and the renaming of the native token LUNA to LUNA Classic (LUNC) mark significant milestones in the evolution of this blockchain protocol.
- The Ethereum Connection: The term “classic” in Terra Classic is a reference to the Ethereum / Ethereum Classic split in 2017, highlighting the parallels between the two blockchain protocols’ histories.
Stay tuned for more updates on Terra Classic and its journey in the crypto market!
