Will Luna (LUNA) reach $1? It’s possible, but its current price of about $0.80 makes the goal seem distant. But getting $1 is always an exciting milestone, and crypto investors often measure their holdings’ value against other significant coins to see how they are doing in the market. But if you are interested in investing in cryptocurrencies, you should use bitcoin trading software.This article will look at some of LUNA’s main competitors, what they have going for them, and where they fall short. For more information you can visit at my site: Bitcoin crypto
Why did the LUNA price drop dramatically?
Today, LUNA has dropped in price by nearly 50% after a new pre-ICO was announced.
With only 5 million LUNA available during both offerings, investors speculate that there won’t be enough to go around, causing prices to drop.
The answer remains to be seen, but with such a small pool of tokens being released, it’s hard not to see LUNA dropping further and further as time goes on.
It dropped dramatically because;
- The price of LUNA fell drastically as UST, Terra’s stable coin, fell below USD 1, causing investors to flee.
- The US dollar declined on May 9, 2022, which caused the UST crisis. According to a BusinessToday analyst, the incident has sent shockwaves across the crypto market since it highlights the problem of relying solely on the supporting algorithm (unlike USDT and USDC, which are supported by fiat money). As a result of the collapse, investors sold off LUNA, resulting in the most significant drop on record.
Can Luna Classic (Terra Classic) Reach $1?
At the time of writing, the price of Luna Classic was around $ 0.0001023. (in CoinMarketCap). The price of luna fluctuates with each passing day. Its value has not increased.
Prices are just going down. It’s a question I find myself pondering every so often. This is a small-cap penny stock, but given their current position and resources, it may not be out of their grasp to see them get there.
This is one of those stocks where it will be interesting to see how they continue to perform as time progresses. Perhaps 2017 will be the year they hit $1 per share in value. Only time will tell.
What are the factors that determine Luna classic’s reach of $1?
I’m going to assume that for Luna classic to reach $1, it will need to be listed on a reputable exchange such as Bittrex or Poloniex. I’d imagine at least one of these exchanges will list LUNA, as LTC is already listed on both.
I think if luna gets accepted on any other prominent exchanges, especially Bitfinex, that will do wonders for its price. If/when it hits Bittrex or Poloniex and acquires a solid market cap with sufficient volume.
There are also a variety of reasons why renowned people have made forecasts. On these grounds, the following is one of the essential criteria that will determine whether the price of Luna classic may reach $1;
Launch of Luna 2.0 Airdrop
The Luna 2.0 airdrop giveaway began on May 28, 2022. Crypto enthusiasts have been working hard to obtain an airdrop. It has become sort of a gamble game.
That reduces the value of Luna Classic (as Do Kwon planned it). Crypto users who are hesitant to invest directly in Luna Classic have expressed interest in the airdrop.
Whatever it is, it will directly impact the price of Luna Classic, causing it to lose value. While Lunatics wait for their airdrop, new crypto traders will invest in LUNA. The tradable LUN tokens have started trading in HADAX.
They are worth around 0.5CNY or 0.6USD at present, and I think they can reach 1 CNY ($0.14) if 100 million LUN tokens are released soon, which is 5% of the total supply of 2 billion.
Once they hit above 1 CNY, LUNA will rise again like the last time as it is one of the few EOS tokens listed on exchanges and an up-and-coming project among them.
It’s impossible to tell whether or not a stock will move in a particular direction. You can get your stock alerts, watch lists, and listen to what experts say. But it’s still just guesswork.
Now though, you should be aware that there is a slim probability that perhaps the price of Terra Luna Classic will reach one dollar, given that there are more than 5 trillion coins still floating in the cryptocurrency world.
We could guarantee stable pricing because the Terra Environment is doing everything possible to reset the crypto coin.