Terra Classic recent parity upgrade sparks speculation about LUNC price potential, with Google Bard forecasting a bullish trend and a target of $0.00012 by end of 2023.
There are widespread speculations surrounding the price potential of Terra Classic (LUNC) looking ahead to the end of 2023. Notably, the recent blockchain feat which involved the upgrade to parity has influenced some of these projections.
Given Terra Classic’s recent feat of 1 trillion staked tokens and the recent parity upgrade, which represents the most significant development in the Terra Classic ecosystem in a long while, Google’s AI solution Bard shared an intriguing target for LUNC price.
Google Bard Analyses
Google AI’s analysis reveals a bullish trend for LUNC, noting that the 50-day and 200-day moving averages slope upward. It argued that despite the market’s volatility, there is a risk of a correction.
The fundamental analysis factors in the Terra ecosystem’s tumultuous journey in recent months and the recent parity upgrade. It noted that there is hope for recovery with ongoing development efforts. If there are further successes, LUNC could reach a price of $0.00012 by the end of 2023.
This figure implies that LUNC will cancel one of its leading zeros, as the asset currently trades at $0.00009121. This would mark a 31% surge in value. Google Bard noted that short-term volatility is expected for LUNC, with market conditions shifting unpredictably, influencing the token’s value.
Nevertheless, both technical and fundamental analyses lean towards a bullish outlook, indicating LUNC’s potential as a long-term investment.
Terra Classic Parity Upgrade
The parity upgrade on the LUNC blockchain has contributed to a renewal of investor interest. The upgrade marks a significant update intended to bring the network to parity with the Cosmos and Luna 2.0. This implies that LUNC can now interact with projects on Cosmos and Luna 2.0.
The upgrade includes many other features, such as improved security, increased scalability, and reduced gas fees. The LUNC ecosystem has also attained a significant milestone in staked LUNC tokens. The project recently surpassed the 1 trillion threshold, as recently reported by The Crypto Basic.
LUNC On-chain Data
Meanwhile, data from the popular market tracker, CoinMarketCap, reveals that LUNC currently boasts a market capitalization of $531,785,117, with a 24-hour trading volume of $43,880,969, which is 15.51% higher than what was obtainable over the previous day.
Regarding holders’ statistics on CoinMarketCap, LUNC has 13,367 addresses, with the top 100 holders accounting for 33.98% of LUNC. And regarding social statistics, the project has garnered attention on GitHub, with 110 commits, 354 stars, and 81 forks.
While its circulating supply currently exceeds five trillion, the LUNC community has actively tried reducing the token’s supply with consistent burning. So far, over 60 billion LUNC coins have been exterminated, as The Crypto Basic disclosed in a recent report.