intermediate
Although many people have turned their backs on all Terra Luna-related cryptocurrencies after all the issues the network had in 2022, many members of the community, as well as new investors, are still interested in it. Today, we will talk about Wrapped Luna Classic, a token that tracks LUNC price. In this article, we will explain what this token is, take a look at its history, and, finally, provide our WLUNC crypto price prediction.
WLUNC Overview
Wrapped LUNA Classic Prediction Table
Wrapped LUNA Classic Historical
According to the latest data gathered, the current price of Wrapped LUNA Classic is $$0.00010, and WLUNC is presently ranked No. 4434 in the entire crypto ecosystem. The circulation supply of Wrapped LUNA Classic is $0.00, with a market cap of 0 WLUNC.
In the past 24 hours, the crypto has increased by $0.000015 in its current value.
For the last 7 days, WLUNC has been in a good upward trend, thus increasing by 17.38%. Wrapped LUNA Classic has shown very strong potential lately, and this could be a good opportunity to dig right in and invest.
During the last month, the price of WLUNC has increased by 14.52%, adding a colossal average amount of $0.000015 to its current value. This sudden growth means that the coin can become a solid asset now if it continues to grow.
What Is Wrapped Luna Classic WLUNC?
Wrapped Luna Classic is a wrapped token. Actually, it is an ERC-20 token on the Ethereum blockchain network tracking the value of the Luna Classic (LUNC) coin, which is built on the Terra Classic chain. It is also sometimes referred to as Wrapped Terra Classic or Wrapped Terra Luna Classic.
What Are Wrapped Tokens?
Wrapped tokens are digital assets pegged to the value of another asset.
For example, Wrapped Bitcoin (WBTC) is a token that is backed by Bitcoin’s value. When you hold WBTC, you are essentially holding a claim on the underlying Bitcoin, and this claim for the underlying asset can be redeemed at any time.
Get your hands on thousands of DeFi tokens, including wrapped tokens, on Changelly DeFi Swap.
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Wrapped tokens are popular because they offer the benefits of both crypto assets and traditional assets — for example, wrapped tokens can be traded on exchanges just like any other crypto asset. Nevertheless, since they are backed by underlying assets, they also have the stability of traditional assets. Wrapped tokens offer more ways to build bridges between two different blockchains. This makes wrapped tokens an attractive option for investors who want the best of both worlds.
What Is the Difference between Wrapped Luna and Luna?
The sole difference between the two assets is that they live on two different blockchains. Wrapped Luna is a derivative token that exists on Ethereum, whereas Terra Luna is a native platform token on the Terra network.
WLUNC (WLUNA) tracks the price of Terra Luna LUNC (ex-LUNA) using algorithmic incentive processes.
According to Terra’s development plan, arbitrage traders will enter the market to benefit from price differences whenever the price of either item changes. They will purchase a less expensive option, redeem or mint the alternative, and then trade a more expensive model for profit. More arbitrage traders will try to take advantage of this price difference, which will lower the stock of the less expensive option while raising demand for it. As a result, the profit margin will be eliminated as the price increases.
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What Is the Difference between WLUNA and WLUNC?
WLUNA, or the Wrapped Luna token, is a deprecated version of Wrapped Luna Classic, WLUNC.
The Terra chain experienced a hard fork in May 2022, and the rebranding followed then. Just like the hard fork in the Ethereum network after the DAO hack, which resulted in the birth of Ethereum Classic and Ethereum, Terra’s old chain and associated coin are now referred to as classic. The LUNA coin changed its ticker to LUNC, and Terra 2.0’s native coin kept the original name and is now referred to as LUNA.
Wrapped Luna Token was tracking the LUNA coin’s value, and it had the ticker symbol of WLUNA. Since the old chain’s coin is now named Luna Classic and has a LUNC ticker, Wrapped Luna Token was rebranded and now lives on as WLUNC or Wrapped Luna Classic.
The hard fork and following rebranding caused much confusion in the crypto market; we still see a lot of websites using the WLUNA ticker. So, basically, when you come across something like “Wrapped Luna price prediction” or “WLUNA coin price prediction,” know that they’re referring to Wrapped Luna Classic WLUNC. Both ways of calling this token are fine.
FAQ & Wrapped Luna Classic Price Predictions
Does Wrapped Luna have any value?
Well, yes, it is a mirror token of LUNC, and it’s supposed to follow the average value of Terra Classic, the coin which resides among the TOP-40 cryptocurrencies by market cap and has a high average forecast price according to technical analysis and many crypto experts.
It reached its registered maximum price of $116 in April 2022. While historical data does not guarantee the token’s future results, it is still an indicator to keep in mind when investing. Then, after May’s collapse, the original development team abandoned LUNC and WLUNC. But investors’ interest in them seems to be rising after the launch of the staking feature.
The unofficial LUNC Twitter account posted that 528.8 billion LUNC, or 7.66% of the total supply, have been staked since the staking feature introduction in late August 2022. This is consistent with the CoinMarketCap trend that indicated a progressive rise in wallet addresses possessing WLUNC during that time period.
None of the content on Changelly, including the Wrapped Luna Classic forecast, is investment advice, nor is it a replacement of advice from a certified financial planner. Before deciding to buy Wrapped Luna Classic, we recommend you to do your own research.
Is Wrapped Luna gone? What happened to the Wrapped Luna token?
In accordance with Terra’s migration policies, Wrapped LUNA Token has become Wrapped LUNC Token. Wrapped LUNC tracks the LUNC value rather than the LUNA value.
Can I sell Wrapped Luna Classic on Binance?
No, it is not listed on Binance.
Is Coinbase going to relist Wrapped Luna Classic?
Coinbase does not plan to relist WLUNC.
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
