LUNA coin price prediction: will LUNA go up?
After reaching an all-time high last month, will LUNA coin continue to be bullish?
LUNA coin was created by the Korean firm Terraform Labs and launched on cryptocurrency exchanges in July 2019. The coin was developed on the Terra blockchain as part of a dual token system with the stablecoin TerraUSD (UST). UST is minted by burning LUNA, which gives LUNA its value and maintains the stability of UST.
In 2019, LUNA launched at $1.31, but found itself on a downward trajectory for its first 18 months. Although it was not a volatile currency, there did not appear to be much hope for the new token. After September 2019, LUNA kept recording new lows. It dropped to $0.21 on 18 December 2019, before dipping even lower to $0.12 on 18 March 2020.
On 19 August 2020, Terra announced LUNA would be listed on the exchange platform Binance. Users could stake their LUNA coins from 28 August and the price rose from the $0.33 mark in July to $0.56. However, it was not long before it dipped again. Despite UST launching in September that year, LUNA fell back down to $0.32.
It was a gloomy outlook for the staking asset until the crypto boom at the beginning of this year, when LUNA started behaving bullishly. On 9 February it reached $6.44 and climbed even higher over the next six months, hitting $34.96 on 28 August. The crypto market crash on 7 September saw it fall to $25.3.
However, the Terra blockchain’s Columbus-5 Mainnet upgrade launched on 30 September, at which point LUNA resumed its rise. The upgrade introduced interchain assets on other blockchains. It also led to LUNA being permanently destroyed when burned, instead of being sent to a community pool. After the upgrade, the coin hit an all-time high of $49.45 on 4 October. As of 11 October, the price is hovering around the $40 mark.
LUNA coin price prediction
But what is likely to happen in the upcoming months and years? This is what analysts are saying about the LUNA coin price prediction.
WalletInvestor predicts that LUNA coin will dip before continuing its upward trend. They think the price will slump below the $40 mark by the end of this year and then start rising at the beginning of 2022. In September next year, WalletInvestor predicts LUNA will achieve a new all-time high of $70. Its LUNA crypto price prediction for 2026 is $190, suggesting it should perform very well in the long term.
Although DigitalCoinPrice predicts LUNA will reach $59.29 by the end of this year, it has a similar long-term prediction. Its Terra LUNA coin price prediction for 2022 is just above the $70 mark. By 2025 the site predicts it will reach $125.34 before continuing its rise to hit $176 in 2028.
EconomyWatch’s LUNA coin price prediction follows the same lines. It also predicts the coin will perform bullishly and will reach a valuation of $100 in 2025. The site argues that by 2030 more of society will be blockchain-based and this will result in LUNA being valued at $150.
It might be. LUNA coin has been behaving bullishly this past year and analysts predict this trend will continue. However, the token has been more volatile than usual these past months, which could be explained by the crypto market crash. Remember, this volatility could continue as cryptocurrencies are often not stable. You should never invest more than you can afford to lose.
Analysts’ response on the LUNA coin price prediction for 2021 varies. WalletInvestor predicts it will dip below the $40 mark, while DigitalCoinPrice argues it will rise to $59.29. Despite this difference, both think it will reach a new all-time high in the next five years. DigitalCoinPrice’s LUNA price prediction for 2025 is $125.34. However, analysts can often be wrong, and you should always do your research before investing.
LUNA coin cannot be bought on Currency.com at the moment, but there are other exchanges that sell it. Remember to do your own research and never invest more money than you can afford to lose.