Despite past sensations, Terra Classic (LUNC), which has fallen to the lower ranks in volume rankings, continues to be one of the favorites of investors aiming to get rich quickly with the deletion of zeros.
Terra Classic Comments
According to data provided by 21milyon.com, as of the time of writing, Terra Classic (LUNC) has seen a 2% increase in the last 24 hours, trading at the level of $0.0001.
Like many altcoins aiming to grow by maintaining their price level, Terra Classic (LUNC) faces a huge obstacle, which is the circulation pool. Following the Terra blockchain events that erupted in May 2022, the number of tokens in circulation continues to be one of the barriers to the price increase.
Looking at the number of Terra Classic’s (LUNC) tokens, there is a massive supply of approximately 5.8 trillion tokens. Although the community and exchanges are trying to reduce the supply, the speed of the current burns does not seem to make it easy to achieve the desired result.
A potential price increase for LUNC may be triggered not by burns but by an increase in volume.
Assumption for Terra Classic (LUNC)
According to data provided by CoinGecko, as of the time of writing, the global market value of cryptocurrencies is calculated to be approximately $1.73 trillion, with Bitcoin (BTC) accounting for about 48.66% of it. On the other hand, when all stablecoins are considered, they account for 7.87% of the volume.
Based on calculations, LUNC’s current market value of $583.6 million constitutes only 0.033% of the total cryptocurrency market value.
In a scenario where Terra Classic (LUNC) captures 5% of the total market value, which seems unlikely but is within the realm of possibility, the volume value could rise to $86.5 billion.
The calculated market value of $86.5 billion could be interpreted as a 14,722% increase in Terra Classic’s (LUNC) future market value. If LUNC’s circulating supply remains constant, its price could rise by approximately 15,052%, reaching $0.015.
Considering the current situation, this scenario may not seem logical to investors. However, given the unpredictability of the cryptocurrency markets, it wouldn’t be wrong to consider it within the realm of possibility.
