Terra Classic’s (LUNC) original chain, Terra Classic (LUNC), continues to see red as it tries to recover amidst the downward movement of the token market. The LUNC community, in particular, is implementing a series of initiatives that are believed to potentially impact the token’s value.
Will LUNC Coin Rise?
Given the ongoing recovery efforts, the future price projection of LUNC continues to be a topic of interest within the community. To provide more information about the potential price movement of Terra Classic by the end of September, a price prediction was obtained using machine learning algorithms from PricePredictions.com.
According to the algorithm’s predictions, based on the information obtained on September 6th, LUNC is expected to trade at $0.000060 by September 30, 2023. The research and information gathered indicate an ongoing correction in token value with an estimated price decrease of about 0.6%.
LUNC Coin Analysis
Despite initially showing upward trends, the calculations made painted a rather pessimistic picture for LUNC. Terra Classic experienced a brief increase in value after Binance announced its support for the Terra network upgrade in early July.
Regarding the network upgrades, the community is voting on a proposal for the L1 Task Force’s v2.2.1 core upgrade. This upgrade aims to provide several significant features, including the Cosmos SDK upgrade, transitioning to CometBFT for Tendermint, transitioning to v6 for IBC-go, and splitting the burning tax into the distribution module, among other changes previously approved by governance voting. This upgrade is expected to have a significant impact on the future value of LUNC.
Additionally, the Terra Classic community has accepted a crucial proposal for the implementation of dynamic minimum commissions for validators based on voting power. This proposal aims to enhance decentralization and strengthen the Terra Classic network against potential security vulnerabilities. The community also appears to be persistent in relying on other initiatives, such as ongoing burning mechanisms, to increase the network’s utility.
LUNC Price Analysis
Looking at altcoins that have experienced significant volatility in the past, as of the time of writing, Terra Classic is trading at approximately $0.0000605 with a daily loss of about 0.6%. The token has experienced a decline of over 5% in the past seven days.
Finally, it should be noted that in a previous report, it was mentioned that if LUNC were to reach its all-time high market value, the token would likely trade at $0.0070446, which is approximately 99.99994% lower than its record price of $119.18.
