Terra Classic, which suffered a major crash in May 2022 due to the failure of its economic model linked to UST (a stablecoin pegged to the US dollar). After the crash, Terra transformed into Terra 2.0, while LUNC became linked to the original network that was crashed.
LUNC’s current status:
1. High price volatility: LUNC is experiencing high price movements due to its nature as a previously damaged project.
2. Revival attempts: The Terra Classic community is trying to support LUNC by reducing the supply of the currency (burning tokens) and developing the ecosystem.
3. High risks: The future of LUNC depends on the team and community’s ability to attract projects and restore trust.
Factors affecting the price of LUNC:
1. Community efforts: If the community succeeds in providing innovative solutions and effective applications on the network.
2. Adoption and partnerships: Any new partnership or actual implementation of the platform can restore trust.
3. Burn size: Burning a large number of tokens to reduce the supply may increase the price in the long run.
Future Prospects:
Positive: If the project succeeds in attracting investments or achieving technical progress, LUNC may see an increase.
Negative: In the absence of any tangible progress or continued legal challenges, the currency may face further decline.
My Advice:
If you are considering investing in LUNC:
Do a deep research: Monitor technical and economic developments around the currency.