Parity Upgrade Boosts Terra Classics Price Prediction on June 14th

Parity Upgrade Boosts Terra Classics Price Prediction on June 14th

The Terra Luna Classic price has dropped by 3.5% in 24 hours, but the upcoming Parity upgrade on June 14 could potentially boost its price and aid in developing the cryptocurrency and its blockchain.

The Terra (LUNA) Luna Classic price has declined by 3.5 percent in the past 24 hours, dropping to $0.00008484 as the digital currency market as a whole falls by 1.5%.

LUNC’s price means it has decreased by 7 percent in a week and by 22 percent in the last 30 days, with the crypto altcoin likewise down by 41 percent since the beginning of the year.

This latter fall stands on the other side  to the profits major digital currencies such as Bitcoin (BTC) and Ethereum (ETH) have since January, underlining how LUNC as of now seems to be in a state of decline, with community efforts to bootstrap its development failing to facilitate its price.

Nonetheless, with the launch date of the long-awaited Parity upgrade now set for June 14, LUNC’s price could see a boost around this time.

Terra (LUNA) Classic Price Prediction With Parity Upgrade June 14 – Can LUNC Price Recover?

LUNC’s chart makes for some fairly grim reading, with its indicators all showing further losses of momentum, which as a result point towards more losses in the near term.

Parity Upgrade Boosts Terra Classics Price Prediction on June 14th
Source: TradingView

The altcoin’s relative strength index (purple) dropped below 30 yesterday, and while it has recovered a little today it still remains below 50, signalling a lack of momentum.

Similarly, LUNC’s 30-day moving average (yellow) persists to plunge well below its 200-day average (blue), and as of now it doesn’t seem like it’s going to stop anytime soon.

This pessimism is supported by the coin’s level of support (green), which persists to fall from one apparent bottom to another.

As a result, technical indicators don’t really suggest that LUNC is going to stop sliding in the near future, particularly when the wider market persists to lose ground because of  negativity surrounding the United States debt ceiling crisis and other macroeconomic factors.

Nonetheless, since the crypto altcoin reached a post- Terra (LUNA) collapse high of $0.00008485 in September 2022, it has essentially declined by 98%, creating the impression that its community has lost hope of ever resuscitating it in a whole lot of or meaningful way.

On the other hand, regardless of its ongoing losses, the Terra (LUNA) Luna Classic community continues  work on making the digital currency and its blockchain tech more useful to developers.

As noted over, June 14 will see the deployment of the Parity upgrade, which will attract a number of important updates that will enable the Terra (LUNA) Luna Classic blockchain tech to accomplish greater interoperability with other networks, such as Cosmos.

It’s hoped that this will promote   a migration of developers and applications to the Terra (LUNA) Luna Classic network, although with the LUNC price suffering from such a big slide over recent months, you’d be forgiven for being skeptical.

Artificial Intelligence (AI) and Crypto Token Burns

Still, it shows that Terra (LUNA) Luna Classic’s development community is serious about improving its utility, with the Parity upgrade likewise laying the technical underpinnings for Edward Kim’s Block Entropy, an ” application chain” that will enable AI-based tools and applications to be deployed on the Terra (LUNA) Luna Classic network.

Given that generative Artificial Intelligence (AI) is as of now the big thing in the tech sector at this time, the coming of Block Entropy may be the catalyst that enables Terra (LUNA) Luna Classic to mount a substantial recovery.

Of course, such a process is very likely take a very long time, while mainstream enterprises and enterprises that want to harness Artificial Intelligence (AI) will undoubtedly continue going to established providers such as OpenAI for the foreseeable future.

On the other hand, it  can potentially provide some real innovation within the digital currency ecological system, and combined with ongoing crypto token burns, it  can potentially help LUNC’s price continuation growing again.

Speaking of burns, some 58.9 Billion LUNC has been destroyed to date, out of a total circulation of 5.87 trillion.

Hope that burning can potentially become more large-scale has been kindled in the recent weeks, with a propsal for re-pegging USTC (LUNC’s related stablecoin) passing a community vote.

Once enacted, this strategy could result in the large-scale burning of LUNC, something that would help the altcoin’s price to recover massively.

Nonetheless, details still must be hashed out by Terra’s L1 Task Force, so once more it could be a while before some concrete progress is made.

For now, it could be possible that LUNC persists to slide downwards, although a return to more positive  tendency market conditions could assist it recover, potentially returning to 0.0001 or higher in the coming weeks.


Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.
LUNC Goes Lunar: Classic Price Prediction Soars!

Follow us

Latest Crypto News

Share via
Share via
Send this to a friend