Terra (LUNA), a prominent cryptocurrency, experienced a complete collapse in its value, plummeting by 100% on May 13, 2022, due to the destabilization of the algorithmic stablecoin protocol TerraUSD (UST).
Later that year, developers revitalized the Terra blockchain, introducing a new token with a total supply of 1 billion coins. The original token now trades as LUNC, while the new iteration retains the name LUNA. Initially valued at approximately $19 post-relaunch, the new token has since undergone a steep decline of nearly 98%.
As of July 2, 2024, Terra LUNA traded at $0.405, ranking 164th in market capitalization among cryptocurrencies. The future outlook for LUNA appears uncertain. What lies ahead for Terra LUNA in the years to come?
**Table of Contents**
– What is Terra LUNA?
– Terra crypto updates
– Terra (LUNA) price forecast: short-term perspective
– FAQs
**What is Terra LUNA?**
Terra functions as a blockchain platform designed to create algorithmic stablecoins, which differ from traditional stablecoins by operating in a decentralized manner without fiat backing. These stablecoins’ pricing is managed via smart contracts, with algorithms primarily controlling their peg to the USD.
**Terra Crypto Updates**
Following Terra’s collapse, confidence within the crypto community eroded significantly. In September 2022, a Seoul court issued an arrest warrant for Do Kwon, CEO of Terraform Labs, citing violations of local capital markets laws. In February 2023, the U.S. Securities and Exchange Commission (SEC) accused Terraform Labs and CEO Do Kwon of orchestrating a multi-billion dollar securities fraud scheme. By April 2024, both Do Kwon and Terraform Labs were convicted of these charges. Do Kwon had evaded capture for an extended period in Montenegro before authorities apprehended him. The process of extraditing Do Kwon to South Korea is currently under review. In January 2024, Terraform Labs filed for Chapter 11 bankruptcy under U.S. law. By June, TFL settled with the SEC for a $4.47 billion fine. On June 12, Chris Amani, TFL’s new CEO, encouraged the Terra community to take control of the blockchain as company operations wind down. Given these developments, what does the future hold for LUNA? Can the coin recover?
**Terra (LUNA) Price Forecast: Short-term Perspective**
According to CoinCodex’s near-term price prediction, LUNA could potentially surge by 224.96%, reaching approximately $1.346497 by August 2, 2024. The overall sentiment remains neutral, with 14 technical analysis indicators signaling bullish signals and 14 indicating bearish signals.
**Terra LUNA Price Prediction 2024-2025**
Wallet Investor forecasts that LUNA might peak at $30.186 by the end of 2024, potentially dropping to $0.0652 by late 2025. DigitalCoinPrice anticipates LUNA surpassing the $0.94 mark by year-end 2024. Looking ahead to 2025, optimism persists for Terra breaching $1.11 and stabilizing near $1.06. Price fluctuations could see LUNA trade between $0.92 and $1.11.
Despite volatility, billionaire venture capitalist Tim Draper maintains his belief that Terra could achieve $1.11 by late 2025 or early 2026. CoinCodex suggests that by 2025, Terra’s price range might span from $0.433037 to $2.02, potentially offering gains of up to 369.34% from current levels if LUNA reaches its upper price target.
**LUNA Price Prediction 2030**
DigitalCoinPrice projects that Terra’s price could hit $3.17 by early 2030. CoinCodex estimates Terra’s price to fluctuate between $1.06776 and $1.731278 by the same year.
**Disclosure:** This article does not provide investment advice. The content and materials are for educational purposes only.
**FAQs**
– Is Terra (LUNA) a good investment?
– Will LUNA coin price go up or down?
– Should I invest in LUNA crypto?
– Can Terra LUNA reach $1?
– How high can LUNA go?
These questions prompt considerations about personal comfort with risk and investment goals. Whether contemplating investment or holding back, careful evaluation is essential given the speculative nature of cryptocurrency investments.