Luna classic coins are one of the most talked-about in the investment market. Luna coins were the most popular coins in terms of investment and hence, This coin was on every next portfolio you’ll see in the international market.
However, the coin has seen a very steep decline in its price and the company decided to launch a new coin with the name Luna [Or Luna 2.0] and named the older one Luna Classic.
But considering whether this coin is dead or not is a question of a deep analysis of the history and upcoming future of Luna classic.
Different experts have different opinions about the existence and predictions of this coin.
In this article, we have discussed all the aspects which will help you to establish clarity about the current situation of the Luna classic coin and its hold on the market.
Is Luna Classic Dead?
No, luna classic is not declared officially dead by the Luna developers. But, with the declining rate in the prices of Luna coins, many analysts predicted that Luna coins will be dead soon.
However, many of the other resources still state that Luna classic is not dead and Will coexist with its upgrade and boom again.
According to the falling graphs of this coin and its current price in the market, this coin is likely to be considered dead by most analysts and experts.
Before we jump to a conclusion if this coin is dead or not, it’s important to understand what Luna classic is. This coin marked the beginning of the terra blockchain as it was the very first token released as a beginning for terra blockchain native and its token.
Back in the year 2018, Luna coins were specifically launched to serve two different functions. Luna coin (Now known as Luna classic coin) was released to balance the overall losses or deviation in the market caused by the steep decline in the price graph of terra USD, which was a stable coin of the terra blockchain earlier.
As per the experts and analysts of the international investment market, it was observed that the Luna classic coin had experienced yet another decline in the price by 13%.
This accumulated to the previous losses, and now the price of the Luna classic coin has fallen to 38.1%, where it is safe for many experts to state that this coin is dead.
The Luna Coin investors are now looking forward to either a miracle or selling their coins with minimal losses. Currently, the Luna classic coin holds a market value of around 6543 billion in the global market as per the trusted and accurate results of coinmarketcap
There are plenty of reasons why experts state that this coin may die sooner than later. Following are some factors that are dragging Luna classic to an end:
- With the release of Luna 2.0, the developers involved in the betterment and rotation of Luna classic coins have reduced to a minimal number. Hence, due to insufficient manpower working as a pillar behind luna classic coin and Its development, LUNC may never be able to get its golden days back.
- Since most of the investors of terra are moving towards the newer platform, the ecosystem generated for the LUNC token has now degraded and is not adding value to it. Thus, in a race to create a sustainable and developed ecosystem for LUNC, the luna coins have been defeated by the bigger and newer coins such as ETH.
- A minimal number of validators is yet another hurdle in the growth path of LUNC. Since the number of validators who benefited or were rewarded from this coin has reduced remarkably, the overall performance of the coin has experienced a steep.
- The current price of the Luna classic coin is not appreciated by the investors, and hence the number of investors interested in buying LUNC at such a price has declined. If this continues, the price of the Luna classic coin will be reduced to its lowest in no-time
- Most of the investors are now interested in Luna coin 2.0, and with this, the market value and presence of the Luna classic, are losing the game to its upgraded version.
Although there are many reasons why Luna classic coins might not gain their old charm again, the investors still believe that they will gain sudden success very soon.
It is safe to say that Luna classic coins are on the verge of getting extinct or dying from the community, but As for now, the little hope of Luna classic coins gaining their old value back has helped them to survive even the theme graphs.
All in all, Luna classic coins are not dead yet but may die if the graph continues to move downwards.
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Conclusion
After the decline of Luna, Luna 2.0 is introduced, which is gathering all the fame and investors in its corner.
However, the old investors of Luna classic coins still believe that the coin has potential and can grow in the market very soon.
With this hope, Luna classic coins are still very much alive and will coexist with its upgraded version, which is Luna coins 2.0, in the investment market today.
