Do Terra tokens have a future?

Hello dear friends.

While the entire crypto ecosystem is going through a bear market, the three tokens of the Terra ecosystem: Luna, LUNC and USTC are fighting in the middle of this tide to get afloat, and is that, although sometimes we see them with a sudden increase of several hundreds by hundreds that enlivens the hope of their holders, the truth is that they go down again just as quickly.

Image elaborated in powerpoint, Luna's logo was taken from .

So, more than a month after the launch of the Luna 2.0 token, which seems not to have regained the confidence of its investors, it is valid to ask what is the future of Terra's tokens?

Since the Luna hard fork, both the main coin and its new version are in negative trends, certainly the entire cryptocurrency market is going through a bear market, but let's see what future prospects allow us to make the recent evolution of these tokens.

Luna 2.0

At its launch, the new Terra token, named just like its predecessor, peaked at approximately $25, and after this period the token has only experienced price decline, to trade today at almost $2, representing a drop of more than 90%, and although all altcoins have declined in value in the last month, none have lost such a high percentage, even since the beginning of this down cycle.

Luna price chart. Screenshot taken from Tradingview.com.

LUNC

On the other hand, the first version of the token, now named LUNC or Luna Classic, after losing almost 100% of its value, today trades with several zeros at $0.000105. Although there was a large spike in late June that removed a zero, since then the token has steadily declined in value. However it has experienced more rallies than the new 2.0 version.

LUNC price chart. Screenshot taken from Tradingview.com.

The main problem of the LUNC token is the circulating supply, a very significant amount of tokens would have to be burned to see a significant increase in its value, so its community has an incredible job ahead if it wants to eliminate at least a couple more zeros from the price. Just take a look at the LunaBurnTracker Twitter account, which is keeping track of the amount of tokens burned, to realize that the dollar equivalent is very small compared to the amount of tokens burned, which means that several million tokens still need to be taken out of circulation for their price to increase significantly.

Screenshot taken from the LunaBurnTracker Twitter account.

And what about USTC?

Suffice it to say that the former TerraUSD (UST), now called TerraClassicUSD (USTC), is still far, far away from trading at $1 US dollar again, despite a rally in late June that brought its price up to almost $0.1, but from which it has only been retreating afterwards, trading today at $0.043.

USTC price chart. Screenshot taken from Tradingview.com..

But, being clear that it is no longer a stablecoin and seeing this brief upward movement, would it be far-fetched to think that the currency could reach new highs? Perhaps the end of the bearish cycle or the greed of investors could make it rise several hundreds by hundreds, making it possible to obtain significant gains for its holders. Some predictions even predict that the price could reach record highs in the next few years, even jumping to 1,671 dollars in 2027.

But it should be clear that the confidence in Do Kwon and Terra coins is almost zero, and the problems faced by TerraFormLabs are causing many projects to leave the Terra ecosystem and migrate to the polygon network. So it would be impressive for a project to reach that estimate with less confidence and decreasing utility.

So, despite the LUNA 2.0 token trading near $2, and the rallies that the LUNC and USTC tokens have had, the outlook is still very uncertain for these tokens, and the forecasts we observe in the media should never replace our own research and judgment.

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Well friends, what do you think, will there be a future for Terra tokens, let me know in your comments, see you next time!