Despite falling down the pecking order on the cryptocurrency ranking list, Terra Classic (LUNC) remains on the watch list of several cryptocurrency investors, especially those hoping to rack up huge profits with not-so-large investment capital.
At the time of writing, Terra Classic (LUNC) is trading at $0.000101, with a price increase of 1.48% in the last 24 hours, according to CoinMarketCap.
Also read: Google Bard Predicts Terra Classic (LUNC) Price Should Hit $200,000 After Halving
Like any other crypto asset struggling to achieve sustainable price expansion, the Terra Classic (LUNC) circulating pool has been hindering the rise of its prices since the implosion of the Terra blockchain in May 2022, which resulted in the minting of billions of tokens.
Terra Classic (LUNC) has a massive supply of approximately 5.8 billion tokens. While efforts have been made to reduce supply, it might take longer to achieve something tangible due to the current situation. burning rate.
Judging from another perspective, achieving notable price increases does not necessarily imply cutting supply; Scenarios such as capturing a reasonable portion of the global market capitalization may occur, leading to price appreciation.
If Terra Classic (LUNC) captures 5% of the total market capitalization
According to CoinGecko, the global market capitalization stands at approximately $1.73 trillion, with Bitcoin (BTC) accounting for a large portion, contributing around 48.66%. On the other hand, stablecoins combine to account for around 7.87% of the total market capitalization.
According to calculations, LUNC's $583.6 million market capitalization will contribute only 0.033% of the entire crypto market capitalization.
In a scenario where Terra Classic (LUNC) manages to capture 5% of the entire market capitalization, it implies that its market capitalization will increase to approximately $86.5 billion.
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Also read: Top Artificial Intelligence (AI) Toolkits Terra Classic (LUNC) Price for January 31
Terra Classic (LUNC) price with a market cap of $86.5 billion
A market capitalization of $86.5 billion means a 14,722% increase in the market capitalization of Terra Classic (LUNC). If the circulating supply of LUNC remains unchanged, its price will increase by approximately 15.052% to reach a price state of $0.015.
If there were a more sustainable LUNC burn rate, it invariably means that the market value of LUNC would skyrocket higher than the price highlighted above.
In conclusion, while most of the scenarios described in this information about Terra Classic (LUNC) capturing 5% of the entire crypto market cap may seem fascinating, readers should understand that the article is intended to educate rather than predict. what could happen in the future.
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