The crypto Terra (Luna) has crashed by over 99 percent. It is shocking news for crypto enthusiasts. As the prices of Terra continue to drop, traders might get convinced that it’s the end of Luna crypto. Will Luna recover? It is the biggest question investors are seeking answers to. Are you also looking for an answer to this? This post will help you know will Luna recover or not.
Cryptocurrencies have always been in talks for their volatility. The latest news about the collapse of Luna has shaken crypto enthusiasts. The stablecoin TerraUSD lost its peg. The Terra blockchain once used to be the second-largest DeFi ecosystem and such a huge drop in Terra’s prices was never expected by anyone. Luna crypto crash is one of the biggest crypto coin crash ever. It has left everyone stunned.
Will Luna recover? The coin does have a lot of potential as per many analysts but presently things are quite uncertain. It is expected to recover by many if certain things are taken care of. With the collapse in Luna, crypto has been delisted on several exchanges like Binance. A recovery plan for the crypto has already been released by Do Kwon who is the founder of Terraform Labs.
With the crash of Luna crypto, holders are wondering will Luna recover or is it the end of the crypto. Here is a post covering all the details related to Luna and will Luna recover or not. So, let us not create much suspense and open up details related to the collapse of LUNA crypto and will Luna recover or not.
What Is The Reason For Luna Crash?
As we are well aware that Luna was linked to the TerraUSD, a stablecoin pegged to the U.S. dollar. As both UST and Luna are interlinked, so the huge drop in UST value resulted in the overall drop of Luna. TerraUSD is trading at $0.16 and has dropped so much from $1. Luna’s market capitalization continues to fall from $40 billion and has now reached around $200 million.
Luna and Terra are interlinked and LUNA invests in UST and is burnt as the demand for UST increases. However, if UST is viewed as unstable, LUNA’s value may fall. The leading crypto exchange Binance has also suspended any withdrawals on Luna. Many others are also planning to do the same. Let us find will Luna recover in the future or not.
Will Luna Recover?
Will Luna recover is the biggest question traders can be seen asking. Many analysts have put their hands up and have no hopes for cryptocurrency. However, many are still there in hopes that Luna crypto will bounce back in the future. Analysts like Kelvin Maina say that a bump can be seen in the prices of Luna after UST is pegged back to the dollar. It is also expected that it will recover and the prices will recover after the Terra project shows that such problems will not take place in the future.
Many investing sites also claim that there are good chances for Luna to recover. The coin has the potential to recover, but it is extremely uncertain right now. Currently, it is quite difficult to predict whether Luna will recover or not. With Do Kwon’s recovery plan, it seems that LUNA, the crypto that had nearly been wiped off, witnessed a rebound. Though the coin hasn’t recovered to where it was but has risen from its all-time low. Yes, let us check out the current details of the Luna crypto.
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What Is The Current Position Of Luna?
The current position of Luna seems to improve with the recovery plan and indicates a debris-to-hubris kind of situation. Let us find out what Luna is currently trading at.
- Current price: $0.000235
- Market Cap: $1,537,054,937
- Circulating supply: 6,531,854,118,077 LUNA
- 24-h Trading Volume: $3,207,512,479
- All-time High: $119.18
- All-time Low: $0.00001675
Let us wait and watch if the prices of Luna go up in the coming times or if we will see a fall in recent times. It would be interesting to see the recovery or further downfall in the coin.
We hope the post has provided you with an answer to “Will Luna Recover”. We have mentioned all the important details about the crash of the Luna crypto. If you find the post informative, do share it with your friends and help them to get an answer to “Will Luna recover”. The recovery plan has helped Luna get a recovery phase.
But it is still unconfirmed if Luna will get its previous position back or not. Though many are still bullish about this crypto, it is quite difficult to say if it will recover in the coming times or not. What do you think will Luna recover or not? Share your thoughts with us by commenting in the comment section.
Frequently Asked Questions
Q1. Can Luna Get Back To $1?
A. As per several experts, it isn’t possible to bring Luna back to $1. However, one cannot predict exactly whether it is possible for Luna to reach $1 in the future or not.
Q2. Why Was Luna Delisted?
A. Exchanges like Coinswitch, Binance, etc. delisted Luna to safeguard the interest of crypto traders. This move has been made following the huge fall in the token’s price.
Q3. Why Has Luna Coin Crashed?
A. Luna crashed because of its link with the TerraUSD (UST) which is a stablecoin pegged to the US dollar.
Q4. How Much Was Luna Before Crash?
A. Luna was trading at $85 before the crash and a sudden fall in the prices made a situation of goodbye for the crypto.