Terra 2.0 (LUNA) Price Prediction

Terra 2.0 (LUNA) is the newest iteration of cryptocurrency on the Terra blockchain. In May 2022, the Terra blockchain experienced a hard fork prompted by founder Do Kwon and voted on by the community. This created the new Terra 2.0, with a new cryptocurrency, dubbed LUNA or LUNA2, while the original blockchain and coin took on the moniker LUNA Classic, or LUNC. Both blockchains still exist and operate separately, which can cause confusion for new investors.

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Before investing in LUNA 2.0 or LUNC, it’s important to understand the history and, most importantly, price predictions. You should also, of course, know which crypto you’re investing in.

This article will focus on the terra luna 2.0 price, but will touch upon classic Terra (LUNC) price predictions. Although the prices are not linked in the way stablecoins are pegged to other currency, events that affect one blockchain have affected the other in recent months.

Before getting into LUNA 2.0 price predictions, here’s a look at the differences between LUNA and LUNC and why the blockchain forked.

Why Did the Terra Blockchain Fork?

The Terra blockchain, prior to the hard fork, had two cryptocurrencies associated with it: LUNA — now called LUNA Classic, or LUNC — and terra. Terra was deemed a stablecoin. Its value was pegged to the value of LUNA and it was designed to help stabilize the crypto market.

Terra Crash

The problem was that terra (UST), an algorithmic stablecoin, wasn’t tied to a stable asset like gold or even the U.S. dollar, which has remained relatively stable over long periods of time. Instead, it was pegged to a coin as volatile as any other crypto, LUNA.

When LUNA crashed, it fell from a high of roughly $116 to less than a penny and, finally, was delisted from crypto exchanges. UST went with it. As a result, the whole crypto market saw losses, as well.

The Fork

To save the blockchain, founder Do Kwon proposed to create a hard fork in the network to permanently de-peg LUNA from UST. On May 28, three days after members of the Terra community voted in favor of the hard fork, LUNA 2.0 was born. The old coin was re-named Luna Classic (LUNC).

Holders of LUNC were airdropped Terra LUNA tokens.

LUNA Classic remains pegged to Terra UST. But when the price of UST shows volatility, the supply of LUNC is changed to stabilize the UST price. So, if UST rises too quickly or too high, the supply will be burned to mint LUNC. The reverse also occurs.

The new Terra 2.0 blockchain contains no stablecoins.

LUNA Classic Price History

When the Terra blockchain first launched and the community launched its ICO (Initial Coin Offerings), LUNC was worth 80 cents. It jumped to $1.31 between April and July 2019.

By mid-March 2021, LUNC was worth $21. After price corrections and market slumps throughout the year, it hit a high of $101.27 on December 24, giving many investors a very Merry Christmas. Many credited the founders for helping to create crypto millionaires, giving people without much money to invest an opportunity to see great returns.

However, when the crash occurred, LUNC dipped to fractions of a penny.

Terra 2.0 is the founder’s attempt to revive the blockchain and, as a result, luna 2.0 is showing promise as a solid investment.

Terra 2.0 Luna Price History

Terra 2.0’s LUNA launched on May 28, 2022 with a price of $17.80 per coin. It quickly plummeted to under $5 by 4 p.m. that day. By the end of the month, it spiked to $11.40, but dropped the first half of June 2022 to reach the mid-$2 mark. By June 19, 2022, it was trading for under $2.

What’s the Current Price of LUNA?

On Oct. 28, 2022, LUNA is trading at $2.44 and has been on a largely downward trend since mid-October. This follows a spike to more than $6 in mid-September. Today, luna 2.0 has a market cap of $$310,181,275, putting it #108 on CoinMarketCap’s list of cryptocurrencies based on market capitalization.

Luna 2.0 has a circulating supply of just 127,475,474, being a relatively new coin.

What Is LUNC’s Price Today?

The price of LUNA compares favorably to the price of terra classic, or LUNC. Following its crash in May 2022, it has not recovered. Today, LUNC trades for just $0.0002424, making it a penny crypto. However, because of its large circulating supply of 6.590 billion, it has a market cap of $1,600,720,995. It ranks #36 on CoinMarketCap’s list of cryptocurrencies based on market cap.

But the market cap doesn’t indicate that it’s a smart investment right now or a reputable coin. CoinPedia answers the question about LUNC’s future profitability by writing, “After the tragic losses post the depeg event nothing much can be said about the altcoin.”  

With LUNC at a price of just $0.0002424 today, experts believe it could drop a zero from after the decimal point by 2023, potentially reaching $0.0016 or even $0.0038 by 2023. These are marginal gains and probably do not make LUNC a worthwhile investment.

It is far more exciting to consider the future profitability of Terra 2.0 LUNA, which could offer a whole new world of profit possibilities for crypto investors.

Luna 2.0 Price Prediction for 2022

LUNA 2.0 is currently $2.44 per coin. The majority of expert analysts and websites seem to have a positive outlook for LUNA 2.0 in the long term, although many reported possible short-term losses.

The price of LUNA has dropped since its inception in May, plummeting in the beginning and finally stabilizing. Gov Capital predicts the coin will experience an upswing toward the end of October, with the price reaching at least $3.14 by Nov. 1, 2022, with a possible high of $4.25.

Others aren’t quite so bullish for the short-term. CoinCodex forecasts a steady drop to $0.82 within the next month.

CaptainAltcoin.com also predicts a steady decline, with the coin falling by nearly 20%, hitting a price of about $2 by the end of November.

AMBCrypto believes the coin could reach as high as $2.89 in 2022, with an average price estimate of $2.41.

CoinPedia, on the other hand, is extremely bullish about Terra 2.0 LUNA. The site predicts a low of $8.62 for 2022, with a potential high of $20.29. The site credits Terra’s “fast-growing eco-system,” noting a “massive market for Terra coins,” for the crypto’s potential.

Luna 2.0 Price Prediction for 2023

CaptainAltcoin.com does not have positive predictions for LUNA 2.0 moving into the new year, either. The site predicts the coin will continue to hover below $2 for most of 2023, dipping as low as $1.21. The site predicts it may hit $2.19 by October 2023, which would represent a decline from today’s value.

On the other hand, Gov Capital sees the crypto spiking in November 2022 and then climbing to hit a high of roughly $26 in January 2023 and continuing to grow through the year to a potential high of $92.56 at the end of December 2023.

CoinPedia is even more bullish on LUNA 2.0 for 2023, predicting that the coin could hit a high of $76.55. Realistically, however, regulatory concerns could hold the price to $16.38, which would still represent tremendous gains from today’s price. The site is predicting an average of almost $34 for the coin, which is also highly optimistic compared to some predictions.

LUNA 2.0 Price Prediction for 2025

CoinPedia experts would say that it’s a smart move to buy and hold LUNA right now. “If the network manages to regain the trust of the crypto community, with developments and community-building initiatives,” it says, the coin could reach nearly $250 by 2025, making it a solid long-term investment. If you purchased just $100 worth of LUNA 2.0 today, based on CoinPedia predictions, you’d have close to $10,729 if you sold in 2025.

Similarly, Gov Capital predicts that LUNA 2.0 could achieve a price of $228.39 by the end of December 2025, with a low of $194.13 and a high of $262.65.

AMBCrypto, on the other hand, predicts LUNA could rise to an average of $6.00 in 2025, with a low of $4.80 and a high of $7.20.

CaptainAltcoin.com, however, predicts LUNA could hit $3.88 by 2025 but, following that, the coin could drop to zero by 2030.

Is Luna Crypto Good Investment?

Many experts believe LUNA could be a good investment, but a lot of factors will play into its success, including regulations and whether or not the Terra blockchain can overcome its prior reputation.

Even AMBCrypto, which seems to be bullish on LUNA, says it depends “on your personal risk appetite,” pointing out recent losses.

Any investment carries risks, and crypto is a high-risk investment at its best. But there are probably more stable coins, including bitcoin and ethereum, to invest in today.

Information is accurate as of Oct. 28, 2022, and subject to change.

This article originally appeared on GOBankingRates.com: Terra 2.0 (LUNA) Price Prediction

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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