What You Should Know Before Buying Terra Classic (LUNC)

Before now, all the name “Terra’ brought was excitement. After being tipped to be one of the best performing cryptocurrencies of 2022, all Terra’s native cryptocurrency, LUNA brought was pain and losses. So, hearing another project with Terra behind it may not be the best of decisions but this community-controlled cryptocurrency has disowned its creator who seemed like a culprit in the LUNA collapse.

Despite the sorrows that accompanied the LUNA fall, Terra Classic (LUNCH) looks to be making up for it. So, in what way has this cryptocurrency brought comfort to the crypto community? Well, many might say it’s still not enough to bring back the millions of dollars lost to the LUNA capitulation but the LUNC has made a staggering 1478% increase for investors who held the coin since August 2022.

Not only has it done that but its unpegged stablecoin, TerraClassicUSD (USTC) has also done as much as 580% in profits for investors. While both coins may have seemed like a good buy, staying careful and watching the markets may be a good option if you’re considering jumpin in now. More importantly, knowing the fundamentals of LUNC before investing looks paramount. So, we’ve done you the favour of telling all you need to know about the project in this deep-dive article. So, let’s start by telling what exactly LUNC is all about.

What Is Terra Classic (LUNC)?

As a result of the LUNA collapse despite Do Kwon claiming to “deploy more capital”, it became necessary to create a new chain under the Terra name. This necessity was what led to the creation of LUNC. On May 28, the Terra team, led by its founder, launched the cryptocurrency. This launch was met by outrage from the same community which believed that Kwon had a hand in their LUNA fall. However, the cryptocurrency has lived long enough to see the light of new months.

The surprising part is that LUNC had existed since August 2018 much to the bewilderment of Terra’s investors. So, in summary, LUNC was a live project before LUNA but with less popularity. So, if you’re wondering what LUNC is exactly? It may be best to refer to it as LUNA but in a “classic” form. However, this does not mean that it would collapse like LUNA did but expecting it to be the future of money as defined by the Terra team may be a reach too far to meet. Also, you may be thinking you can still make profits from it,which, of course, is not impossible. You can consider your investment options and utilize advanced crypto trading software before thinking LUNC is part of the liquid golf the website talks about. 

What Is the Market Cap of LUNC?

At the time of this writing, LUNC had a market cap of $2.51 billion dollars. According to crypto market tracker, CoinMarketCap, this was a 11.75% decline for its value from the previous day. Despite the impressive market value, LUNC has proven overtime to be extremely volatile than many other cryptocurrencies. So, if you intend to invest, expect that this market value can skyrocket anytime. At the same time, it could dump on you and send your holdings looking less valuable. Still, investing in LUNC or not is your decision to make.

How Many LUNC Tokens Are In Circulation?

Since LUNC started acting like a meme cryptocurrency, the number of coins in circulating supply has also looked like one. As of this writing, there are about 6.15 trillion LUNC tokens in circulation. As for the total supply, it is about 6.90 trillion.

Is Investing in LUNC Risky?

Although you should not take this as investment advice, know that buying LUNC at any point is a very high risk. Now, we do understand that the entire crypto market is volatile but LUNC seems to be on another level. Take for example, As of September 8 2022, the price per LUNC was $0.0005856, 24 hours later the coin almost traded less than $0.0004.

The problem is that the price is not the only thing that is risky about LUNC. The fact that the same developers who worked on LUNA were still part of the team working on the classic version. While that may be scary, the Terra community had said it was working hard to ensure that LUNC does not end up like LUNA.

How Can I Buy LUNC?

Surprisingly, many exchanges that supported LUNA before it left now support LUNC. So, if you’re looking to buy some LUNC coins, you can just sign up or login to your account on some of the most used crypto exchanges. If you still can’t find it, you can check exchanges like FTX, Binance or Huobi Global.

For many investors, having these top-rated platforms  may be a valid reason to trust the LUNC project. However, know that the process of listing on these exchanges does not translate to encouragement to invest. The crypto market remains a risky asset and doing your own due diligence will do you a lot of good. Before we conclude, let’s assess the current trading price of LUNC and how far it can go.

Terra Classic (LUNC): Current Price

Despite the surges and deadline, LUNC did not seem to be performing too badly. At the time of this writing, the LUNC price was $0.00040. However, its trading volume was not something to be executed about as it was down almost 46% at $1.07 billion.

Now, you may think that since LUNC is very far from reaching a dollar, it is undervalued. However, that’s not how it works. There are cryptocurrencies that have existed for years and are still around the same price it was years back. Per its future price, not much may be expected of LUNC. For example, the technical analysis platform, WalletInvestor, predicts that LUNC would be with a maximum of $0.0011 by December 2025. If it comes to relay, it may be far from what current investors would have expected.

Conclusion: Would LUNC Survive?

Finally, there is one question that may have been bothering the Terra community which is if LUNC has the potential to last long. While we cannot give you a verdict on that, let’s remind you that it largely depends on the tenacity of the Terra team to make it work and the response of the crypto community. Considering the failure of LUNA, this may be a high hill to climb but it’s definitely not impossible.

📢 We are hiring writers!