Terra’s LUNA cryptocurrency has had a torrid time in the wake of its sister currency, the TerraUSD stablecoin, becoming depegged, with big question marks over LUNA’s future after it crashed from $60 to less than 1/200th of a cent in four days.
So, what about Luna coin price prediction? Will luna recover? What is the future of luna coin? This article will help you address these questions.
Terra price history
When Terra first came onto the open market in July 2019 it was worth around $1.30. As the bulls firmly took over the cryptocurrency market, by the end of January 2021 the coin had topped $1, and it shot to a periodic high of $22.33 on 21 March 2021. While it was soon back down to below $20, LUNA was still comfortably above $10 for the next two months or so, until the great crypto day crash of 19 May 2021 sent it below that benchmark.
The coin reached a nadir of $4.55 on 22 June 2021 and it was not until towards the end of July that it broke back through the $10 mark. August saw LUNA really hit the heights, though, and it closed at $34.96 on 28 August, before the crypto market crash on 7 September saw it fall to an intraday low of $23.07.
Recovery started at the end of September when Terra launched its Columbus-5 mainnet upgrade, which allowed it to use interchain assets on other blockchains and permanently destroy burned tokens, rather than send them to a community pool. This turnaround saw LUNA reach $49.45 on 4 October 2021, continuing its upward trend to another new peak of $54.77 on 8 November 2021.
While most of the cryptocurrency market was shaken over concerns about the Covid-19 Omicron variant, Terra was unaffected by the news, and the coin broke through the $100 mark in late December to reach what was then an all-time high of $103.33 on 27 December 2021.
The price fell in January, but while rates of $93.79 on 3 January 2022 and $87.80 on 15 January were pretty respectable, the coin really dropped in the second half of the month and closed 31 January 2022 at $52.34.
On 22 February, the Luna Foundation Guard raised $1bn to form a reserve for UST, denominated in Bitcoin. This pushed the price of LUNA to $63.99 the next day, before Russia’s invasion of Ukraine sent it down to an intraday low of $50.52. The coin made a very quick recovery, though, and it closed the month at $91.14.
While there was some upward movement, with LUNA topping $100 in late March and early April, the news of China’s crypto ban led the market – and Terra – to fall, and it closed April 2022 at $78.34.
It recovered to $87.96 on 4 May, but then things fell apart. Constant withdrawals from the Anchor Protocol, UST’s biggest savings protocol, caused UST to become depegged, creating a crisis for LUNA. The price of the crypto fell to $32 by the close of 9 May and the drop continued to $17.52 just 24 hours later. The next day, 11 May 2022, the coin plunged 95% to an intraday low of $0.8384, before closing the day at $1.07.
Any hopes that the recovery plan by Do Kwon, the head of the Luna Foundation Guard and co-founder of Terra Labs, would lead to a quick turnaround were dashed the next day. LUNA started trading at $1.07 early on the morning of 12 May but it continued collapsing, plumbing new depths and reaching a new low of $0.004089, closing the day well below the one cent mark at $0.004173.
At this point, the Luna Foundation Guard had to act, and it halted the blockchain, announcing the decision on 13 May in a tweet.
Later that Friday afternoon, production resumed, but the coin had already suffered a massive blow. This news, coupled with Binance’s announcement that it was to stop trading UST and LUNA, was also bad for the price, with another new all-time low coming at $0.00001675 that day.
Do Kwon’s proposal of a new form of LUNA (initially described as a hard fork, before the foundation stepped in to announce that there would be a new blockchain) did not do much to persuade investors and, by the morning of 18 May, the token was worth about $0.0001818.
Just a week earlier, on the morning of 12 May, the coin had a circulation of 2.66 billion out of a total supply of 3.92 billion. It had a market cap of a little under $526m, making it the 80th largest crypto by that metric. By the afternoon, though, its market cap had fallen to around $45m, which meant it had dropped nearly 300 places in a few hours to become the 362nd largest crypto.
On 13 May, according to CoinGecko, its market cap had slumped further, making it the 1,072nd largest crypto. On 18 May, the market cap stood at $1.19bn, while it ranked as the 212th largest crypto.
By the next morning, 19 May 2022, the Terra community was voting on proposals to create a new LUNA, separate from UST. That did not help the price of the current LUNA, which was set to be rebranded as Terra Classic (LUNC), and it was then trading at around $0.0001474. It had a market cap of around $962.5m, and was the 213th largest crypto.
The next day the price had slipped back to around $0.000137, which meant it had a market cap of about $895m, making it the 214th largest cryptocurrency.
Over the weekend, things initially went downhill, with a low of $0.0001023 on 21 May, but the following day saw a recovery to a high of $0.0002165. By the morning of 23 May, it was back down to around $0.000187, which gave it a market cap of about $1.2bn.
On the morning of 24 May LUNA was worth $0.000165, and it was still there on the morning of 26 May. By the morning of 27 May, less than 24 hours before the new version of the coin was due to launch, it was worth a little under $0.00013.
Incidentally, by this time it was being referred to on some websites as Terra Classic, even though it still was listed with the LUNA ticker, ahead of the launch of the new blockchain. This gave it a market cap of around $850m, making it the 213th largest crypto.
On 28 May, the new version of LUNA launched, reaching heights of $19.53 just after coming out before dropping to lows of $3.63 hours later. There were more, but less extreme, peaks and troughs over the next few days, and on the morning of 1 June it was worth about $7.14, down from $8.55 some 24 hours earlier.
Things kept going downhill over the next few days, bottoming out at $4.61 on 5 June. There was something like the start of a recovery after that and the coin was trading at about $5.11 the next morning. By early on 8 June, though, things had got worse and it was down to an all-time low of $3.34.
Things got worse still later that night and a new low, of $1.96, was reached shortly before midnight. By 15:40 BST the following day, it had recovered somewhat to $2.95. While there was further recovery to $3.41 on 12 June, by 17 June things had fallen again and, at around 10:30 BST it was worth about $2.23. The following day was even worse, and it reached a new all-time low of $1.66.
By 24 June, it was back up slightly to trade at around $1.95. By 29 June, it had shown strong signs of recovery, hitting an intraday high of $2.78, but by about 14:30 BST (UTC +1) on 30 June, it was worth around $2.15. By 15:25 BST on 6 July, at the time of writing, it had barely moved and was still worth $2.15.
At that time, it had a market cap of about $274m, with just over 127.4 million LUNA in circulation out of a total supply of a little over one billion. This meant that it was the 219th largest crypto by that metric.
For what it is worth, LUNC, the original version of the Terra cryptocurrency – now renamed Terra Luna Classic – was worth about $0.00011. With a market cap of around $745.6m, it was the 211th largest crypto. For comparison, in March, LUNA was the seventh largest cryptocurrency by market capitalisation.
Luna coin price prediction:
So, what will LUNA coin be worth in 2025? Bear in mind that cryptocurrencies are highly volatile, and forecasts can often be wrong. We also need to point out that longer-term crypto predictions are generally made using an algorithm, which can change at any moment, especially at a time when LUNA is effectively a new crypto, and showing the sort of volatility that we can expect from a new coin.
Gov.capital had seemed, since the start of the collapse, to have given up on LUNA – the site did not make a firm price prediction for the coin in 2025 at all for more than a week. However, by the end of May it appeared to be confident enough to give predictions.
On 6 July, it said that LUNA should make a significant comeback by 2025, starting the year at $322.20 before reaching just under $329.80 on 6 July. The year-end figure for the coin would, should the prediction hold true, be a little under $498.50.
Other predictors are much less optimistic. The prediction from LongForecast takes a slightly more cautious view, suggesting the coin will start the year at about $1.92, before it rises to $2.28 in late August and drops to trade at $1.92 at the end of September before closing 2025 at $2.12.
PricePrediction.net is a little more upbeat. Its LUNA coin price prediction for 2025 says the coin should start the year at $5.87 and then move up month-by-month, reaching $6.94 in July and closing the year at $8.04.
Finally, CoinPriceForecast suggests that, after starting the year at $2.75, Terra can get to $3.10 by the end of the year.
To summary, hope this article can provide you with a thorough understanding about Luna coin price prediction. Will luna recover and what is the future of luna coin? You must've known the answer now.
