Luna Price Prediction October 2022: Will Luna Reach 10 USD?
After Luna started falling steeply, a new Luna Revival Plan was announced but since the fall has been so bad even the revival looks next to impossible. Investors lost their life savings. It will take enormous time and effort in building the community again, and gaining the trust of the investors.
Exisiting Luna coins were named LunaC and a new coin was airdropped, which started trading by the name of Luna.
Even if LUNA tokens goes up again, will the community trust their savings with Terra UST or Luna? The investors are just waiting to take out their investment, even if the prices go normal.
Sitting in September, 2022, we can see Luna is now trading just below 3USD. The price dropped again, since the news of Do Kwon arrest warrant started circulating.
Investors now want to know if they should keep holding Luna, or sell Luna and move to some other coin. We shall answer that in this post. So keep reading.
What happened to Luna and UST in May 2022 (Now LunaC)?
Aa lot of drama happening with Luna in May 2022. (Previously) Luna’a price fell from 115USD to less than 0.0001 in a few months time. Luna is now called LunaC. At the time of writing this article, LunaC is trading at 0.0001894USD.
If you had purchased 100,000 worth in April, you would now be left with less than 100USD worth of tokens.
UST lost its 1USD peg and fell drastically. To keep the peg, the algorithm kept selling Luna to buy UST.
The Luna (C) circulation supply increased from 340Million to 6.5 Trillion.
Investors’ wealth wiped out in less than a week’s time. Do Kwon suggested a revival plan for Luna, however it is too early to say if it is going to be enough.
UST still is trading much below 1 USD. It is now named as TerraClassicUSD and is now trading at 0.03458USD.
What was the New Terra Luna Revival Plan Suggested by Do Kwon?
Do Kwon in a post on Agora forum, said, Terra Luna should be forked and the new chain should be limited to 1 Billion new tokens and he suggested validators to reset the network, and distributing the 1Billion tokens in the following manner:
40% – 400M tokens to Luna Holders before the de-pegging happened.
40% – 400M tokens to UST holders
10% – 100M tokens to Luna holders post de-pegging, before the network was halted. This is to incentivise the Luna buyers for their role in attempting to provide network stability.
10% – 100M reserve tokens for future development
However, it is not an easy task to distribute the tokens among the holders who were holding the same on the centralised exchanges. Exchanges need to come out with a plan on how this can be achieved.
The current focus is to keep the Layer 1 blockchain alive and increase the number of builders and users. Once the dust is settled, the focus can then be shifted to reviving the decentralised money ecosystem.
Fast forward Septemeber 2022: This gave birth to a new token, which is now called Luna. The previous Luna tokens are now trading as LunaC.
Is this new Plan Enough for Luna Revival?
The plan is good, but is it enough? Only time will tell. According to me, the revival plan is good, but not enough. There are a lot of questions on how this is to be implemented. The brand ‘LUNA’ is already hampered. There is a huge loss of trust. Where will the liquidity come from? Once this new plan is implemented, will that be able to bring the price back to the original prices? No.
How will you take care of the inflation? There are a lot of questions answered.
How to buy Luna with BTC, USDT?
Luna can be purchased from the following international exchanges
|Buy Luna (USD)||Register here|
|Binance||Sign up here|
|Huobi||Sign up here|
|OKEx||Sign up here|
|KuCoin||Sign up here|
|Coinbase||Sign up here|
|eToro||Sign up here|
|FTX||Sign up here|
How to buy Luna from Indian Exchange (in INR)?
|Buy Luna (INR)||Register here|
|WazirX||Sign up here|
|CoinDCX||Sign up here|
|Giottus||Sign up here|
|Kuber||Sign up here|
Luna Price Prediction 2022: Can Luna Reach 10 USD?
At the time of writing (October 3, 2022), Luna is trading at 2.43USD, with more than 127,475,474 supply. Current Marketcap of Luna is 308,333,605USD.
So Luna can definitely reach more than 10 USD, and with that marketcap would just be above 1.1Billion. Some positive sentiments can add push to the price. It all depends on how the community behaves.
However, with recent Do Kwon arrest warrant news, this looks difficult in short run.
On 4th of April, 2022, Luna had a market cap above 40 Billion USD, and the current marketcap is just 308 M USD. If Luna were to reach its ATH in terms of marketcap, Luna could be priced 32.78 USD.
This, however, will not be happening at one go.
There is a lot of damage control Do Kwon and the entire community needs to do.
Luna Price Prediction in INR: Can Luna Reach 500 INR?
As mentioned above, Luna can reach 10USD. Converting 10 USD to INR, we can see, that it is possible for Luna to cross 800 INR, with its marketcap just being above 1.1 Billion USD. If Luna were to reach its all time high, Luna could reach more than 2500 INR.
Should You buy Luna in October 2022?
A lot of investors are buying Luna in October 2022, as the chart suggested a possible reversal. The price started shooting to stars, and it moved to 6USD from 2USD in the second week last month. That’s over 300% jump.
However, since then, price started correcting, and is now trading just above 3USD. With the recent Do Kwon arrest warrant news, Luna has dropped by more than 30 percent and is hovering around 2.4USD.
Recent pump shows Luna is definitely not dead, and could give good returns in future. However, this is just an opinion and not a financial advice. Currently Luna is very volatile, and if you love volatility, you can keep holding Luna.
I think it is a good long term hold. However, if Terra founder Do Kwon really gets arrested, the price could plummet. It is definitely a risky bet, but should pay off in long term.
Luna Price Forecast: FAQs
What is the price prediction of Luna for October 2022?
Well, Luna Price prediction for October 2022 suggests Luna could drop below 2USD by the end of this month.
What is Luna Price Prediction 2025?
According to us, Luna Price Prediction for 2025 is 25USD. Luna might trade between 15 to 25USD in 2025.
Can Luna Reach 100 USD?
I do not think Luna can reach 100USD immediately. However, it is not impossible for Luna to reach 100 USD. For Luna to touch 100USD, it needs to do just over 100X. The marketcap then would be close to 4Billion USD. This may definitely happen by 2030.
Is Luna a Scam?
Luna is definitely not a scam. However, the recent de-pegging of UST resulted in drastic fall of Luna. The drop was unfortunate. The entire blockchain was close to a collapse, but yet live. However, there are allegations against the founder of wrong-doings.
Can Luna Recover?
It is difficult to predict whether Luna can recover from the blow it received. However, with the recent new Luna Revival Plan, there is a good chance of Luna recovering. Having said that may take a lot of time. Read this article if you would like to learn more about what happened to Luna in May and if it can recover in 2022?
Can Luna Reach ATH in 2022?
I do not think it is possible for Luna to cross 115USD and touch ATH in 2022. However, in future, there is a great possibility of crossing ATH.
Our article on Luna Price Prediction 2022 is based on many calculations and assumptions. Please do not take it as the final figures. Do your own research and consult a financial advisor before making any financial decision.
Last updated: October 3, 2022