Terra Luna coin seems to be on a roller coaster ride ever since it massively crashed. The price of Luna has been through many ups and downs. Now the question many have in their minds is “Can Luna Recover to $1 price again?”. This is the trending question everyone has been asking influencers. Here in this article, we will discuss the probability of the Terra Luna coin recovering back to its $1 price.
The founder of Terra Luna coin has come up with a revival plan for Terra Luna. According to the plan, they will come up with a new coin ‘Terra 2.0’, and rename the existing terra luna coin to ‘Luna Classic’. Many holders of the existing Luna coin are showing disagreement with this idea of forking Luna.
Terra Coin Recovery Possibility
There are definitely chances for Luna to recover but it is definitely not going to be as easy as it seems. Naive investors are buying Luna at this dip not knowing how hard it is for Luna to regain its price before the crash. One of the major causes of difficulty for Luna to regain higher prices is the inflated supply.
Due to the failure of the UST stablecoin algorithm, the Terra luna coin circulating supply inflated to 6.5 trillion tokens. This is what has caused the Luna holders to panic and because of this investors are panic selling Luna coins. So if you are planning to make a decision to buy Luna coin, think twice before you buy.
Can Luna Recover To $1?
Here we go, the most asked question. Is this possible for the Luna coin to recover to the $1 price? & Will Luna recover to $1? let’s talk about it. Concluding an answer to this question is going to be tricky because it depends on many factors.
The market for Terra Luna coin seems very inflated at the moment. The circulating supply has inflated to a huge supply back to where it started. It might not be easy to burn 6.5 trillion coins that are currently circulating in the supply. Luna will need a massive burning of billions of dollars worth of Luna coins which is not very supposed to happen. The reason there can be a huge Luna burning is that Do Kwon the founder of Terra cannot afford or does not have enough money to buy back and burn the supply of terra luna coins.
The simple answer to Luna recovering back to the $1 price is ‘Yes’. But there are conditions for this to happen. First of all, we need massive burning of the circulating supply. This coin burning either has to be done by developers of terra luna or by holders of the coin.