Terra Classic (LUNC) Faces Persistent Declines and Low Possibility of Recovery
Terra Classic (LUNC) has experienced continuous declines since the collapse of its network in 2022. From its price to the network’s Total Value Locked (TVL), the numbers indicate a grim outlook for its recovery despite community efforts.
Main Breakdowns:
- After Terra’s crash, the network lost a significant portion of its TVL due to investors and developers moving their funds and applications to other networks.
- The current TVL of Terra Classic sits at an all-time low of $2.11 million, a sharp drop from its previous $20 billion high.
- The majority of its TVL is concentrated in two DeFi protocols, Terraswap and Astroport Classic.
- Terra’s TVL has declined by over 83% from its 2023 peaks, with no trading activity on the network.
- LUNC’s supply of over 6 trillion coins hinders its recovery, and a significant reduction in supply is necessary for any price surge.
Despite consistent efforts from the Terra community, the network’s decline and near non-existent activities make recovery highly unlikely. LUNC’s price struggles at $0.00007746, and its market cap ranks it as the 80th-largest cryptocurrency.
Hot Take:
Terra Classic’s persistent declines and low possibility of recovery highlight the challenges faced by cryptocurrencies after a network collapse. With a minimal TVL and supply concerns, it seems unlikely for LUNC to regain its past glory. The crypto community must learn from such instances to ensure the sustainability and resilience of decentralized networks.
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