Terra Luna Classic Price Prediction - Is $10 LUNC Possible This Year?

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Several developments have attracted investors back to Terra Luna Classic in the past week. Can LUNC hit the $10 peg this year and restore its former glory?

Recent developments point in this direction.

Terra Luna Classic did not start on such a poor footing. At its height, the token was among the top trending crypto assets, with a $119.1 price peg and billions in market cap. The project’s attraction was found in its algorithmic stablecoin, UST, which facilitated fiat-like transactions in the Terra ecosystem.

However, a series of incidents caused UST to lose its $1 price peg and LUNA to follow suit. Principal founder Do Kwon then deployed a hard fork which caused the original blockchain to be renamed Terra Luna Classic and its algorithmic stablecoin USTC.

Although USTC has struggled to regain its dollar peg, there is a growing sense that there could be a means to execute this. The idea was proposed by a prominent Terra Luna Classic community member, Tobias Andresen. 

In a Medium post, Andersen surmised that there could be two ways of forcing USTC to re-peg to the $1 value. The first is called Quantitative Easing (QE), which essentially entails printing more USTC tokens to stop the digital asset’s downward trend. Andresen called this a ‘magic fix’ used by several countries and economies to purchase equities in a highly inflationary environment. While this could be a solution, Andresen said he favored a second option which he called Quantitative Tightening or QT.

Here, the amount of USTC and LUNC in circulation would be drastically reduced to create long-term value. He also said this would