For the past 30 days, Terra ($LUNA) was in a downtrend, and it lost almost 8% of the market cap. The past 24-hour data shows that the coin still continues its downward movement.
The whole community sentiment is also negative, and there isn’t much media exposure to attract new investors. On the other side, Terra Classic, the original Terra ($LUNC) is surging.
After the Terra Classic community gained access to the Terraform’s dashboard, new proposals have arrived and the network is in a revival move. But there isn’t much activity in the newly formed Terra $LUNA. Is it dead? What will happen to it?
This article will study the case of Terra $LUNA and check whether it is a good investment choice or not. We will try to predict the long-term price movements and delve into additional info like a buying guide and allocation details.
What is Terra $LUNA?
There are two blockchains and coins with similar use cases: Terra Classic ($LUNC) and Terra ($LUNA). Terraform Labs, launched in 2018, was the parent company of these coins. The platform aimed to form a crypto-to-fiat connection by creating stablecoin and other additional setups.
The platform was a huge success in its initial days, but after it failed to keep the 1:1 peg with US dollars in 2022, the network collapsed instantly. It affected the whole crypto market, and the market cap was drained out.
After various discussions, the network decided to split into two to overcome this disaster. It was inspired by the Ethereum split into Ethereum ($ETH) and Ethereum Classic ($ETC) in 2016. The existing blockchain was renamed into Terra Classic ($LUNC) and the newly created one as simply Terra ($LUNA)
LUNA Token Data
LUNA is mainly used as collateral for the network’s stablecoins. It is also used for staking, governance, mining, voting and various other activities. The 2.0 version doesn’t have many changes in the use cases. Let’s check the allocation details.
| Token Ticker | $LUNA |
| Contract Address | ibc/785AFEC6B3741100D15E7AF01374E3C4C36F24888E96479B1C33F5C71F364EF9 |
| Total Supply | 1.19 Billion LUNA |
| Market Cap | $257.11 Million |
When coming to tokenomics, the stability reserves, the Terra alliance, and the employees and contributor pool; all three have an equal share of 20%, and the remaining 40% of the LUNA tokens are divided among the Terraform Labs, backers, and genesis liquidity pool.
Historical Performance of $LUNA Token
The all-time high of LUNA happened just after its launch 2 years ago. On May 28, 2022, the coin reached $19.54 and now it is around 99% down from that price. The all-time low was 3 months ago when it reached $0.2513. But it survived to an extent, with a 43.61% increase in its price. Now it is trading at $0.3628 per coin.
Terra LUNA Long-Term Price Prediction 2024, 2025, 2026, 2027, 2028, 2029, 2030
This prediction is mainly based on the historical chart data just after the collapse and the market sentiment throughout those years. The current happenings are not included as short-term fluctuations are not given importance in this long-term prediction. However, we have discussed the current scenario and provided a short-term prediction in the last section of this article.
| Year | Minimum Price | Average Price | Maximum Price |
|---|---|---|---|
| 2024 | $ 0.362588 | $ 0.267233 | $ 1.710165 |
| 2025 | $ 0.617284 | $ 0.933252 | $ 1.455956 |
| 2026 | $ 0.302578 | $ 0.497091 | $ 0.788536 |
| 2027 | $ 0.33164 | $ 0.421737 | $ 0.705004 |
| 2028 | $ 0.568382 | $ 0.763545 | $ 1.153254 |
| 2029 | $ 0.996188 | $ 1.445106 | $ 2.301349 |
| 2030 | $ 0.910672 | $ 1.118656 | $ 1.340204 |
Where to Buy $LUNA Tokens?
You can purchase Terra LUNA through popular exchanges like Binance, Bybit, OKX, Kraken, HTX, Bitget, KuCoin, and Gate.io. DEX like Osmosis, Kujira Fin, Astroport, and Uniswap also have LUNA pairs. Make sure you purchase the exact LUNA instead of LUNC, as both look similar.
Is Terra LUNA a Good Investment Option? A Realistic View
Terra LUNA is now surrounded by strong bearish sentiment around all the web3 communities. Besides the rare pumps, the coin has been keeping a slow downtrend since the launch. All the analysis shows that you should be very cautious while involving with LUNA for the short term.
LUNC on the other hand has the potential for short-term gains. However, the scenario may change if some whales consider LUNA’s downtrend as a dip. This is a rare scenario, but we cannot 100% be sure it won’t happen.
A realistic view is that most altcoins will fail in the long run and a few networks with strong intrinsic value and usability will survive. So, do your own research and choose the best coins for long-term hodling.
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