WLUNA Token: Wrapped Luna Price Prediction

Muhammad Naeem

Blogger

Wrapped Luna Classic (WLUNA) is a 1:1 mirror token of LUNA Classic coin on the Terra blockchain. The WLUNA token exists outside its native chain and it is pegged to Terra LUNA’s LUNA Classic coin. Since the wrapped token can be on any blockchain, it increases the token’s interoperability and helps it reach a wider community. The Wrapped LUNA token can be swapped to and from LUNA Classic at any time.

At the back-end, the process takes minting of tokens when WLUNA is bought and burning of the tokens when it is sold or swapped. For example, when someone purchases 100 WLUNA tokens, the same quantity of LUNA Classic is locked in smart contracts, a blockchain feature. When the WLUNA tokens are sold, these locked coins are burned.

After the LUNA Classic crash, the Terra blockchain was divided into another Chain through a hard fork. The native token of this chain and governance system is called LUNA 2.0.

Benefits of Wrapped Luna Token:

Terra is not the only project to offer its tokens on the other blockchains as Wrapped tokens. Even Ethereum offer WTH token to offer efficient trades of NFTs on NFT marketplaces. Wrapped tokens offer some key benefits like:

• Access to multiple ecosystems: WLUNA enables LUNA holders to interact with the diverse and growing range of dApps and protocols
• Increased liquidity and yield: WLUNA can be traded on various decentralized exchanges (DEXs) and liquidity pools
• Preservation of LUNA exposure: WLUNA allows LUNA holders to retain their exposure to LUNA

Is Wrapped LUNA different from LUNA Classic?

Wrapped LUNA is a mirror crypto token of Terra blockchain whose value is pegged to LUNA Classic in 1:1. The only difference is that Wrapped LUNA token exists outside the Terra blockchain to reap the benefits of other ecosystems. Since Terra 2.0 is a whole new network, it named its coin LUNA, and the old Terra LUNA coin is now called LUNC or LUNA Classic.

Price History of Wrapped Luna Classic:

LUNA was launched in August 2021 and soon after it started to offer its pegged coin WLUNA tokens on Polygon blockchain and Binance Smart Chain. Since the price of the WLUNA token and the LUNA classic token are the same, we can discuss the price history of the Wrapped LUNA Classic on the LUNA chart.

Wrapped LUNA Classic Token reached an all-time high of $118.8 on April 4, 2022. The community was still celebrating the token's growth, but it was already beginning to decline. The Fall of Terra LUNA became an example of the crypto crash and the coin price vanished to zero. Bitcoin touching the bottom of the price cycle was another reason for its decline.

Wrapped Luna Price Prediction

Sometimes hype can be beneficial like it pumped Wojak coin. Even coins like RenQ Finance got some traction. Nevertheless, call it FUD or a failed experiment, this was the end of the LUNA 1.0 era and so was being reflected on the Wrapped LUNA Classic price.

Wrapped LUNA is 27% high in the last month and it gained more than 9% in the last week. WLUNA dropped to a low of $0.00001532 and the current price of the WLUNA token is 0.00007089.

Wrapped Luna (WLUNA) Price Prediction

Wrapped Luna (WLUNA) Price

For Wrapped LUNA Price Prediction, we must look at the coin’s fundamentals and technical. The fundamental analysis includes the project's future goals and the team behind the project. It also includes the project’s partnerships and collaborations and the roadmap for coming years.

The technical analysis relies on technical indicators, market sentiments, price history, trade volumes, and other similar factors. The price of the overall crypto market will also have an impact on the price of Wrapped Luna price prediction.

Wrapped LUNA Price Prediction: Fundamental factors

• Abandoned Project: The price of WLUNA depends on the LUNC or LUNA classic which is an abandoned project by its original developers.

• Dark History: WLUNA has the darkest history and it bankrupted the investors with the worst possible crash and that’s why it is hard for people to trust this project with their investments.
• Regulatory Uncertainties: The person behind the WLUNA project DO Kwon is facing serious charges for misleading investors and causing them huge losses. The CEO is currently thought to be hiding in Serbia.
• Low Liquidity: In the last 24 hours, the trading volume of Wrapped Luna Classic is $6,432. With such low liquidity and demand, the growth of WLUNA is very unlikely.
• Community: Wrapped Luna Classic has an unreal and extremely optimistic community as they all believe the token can regain its previous level if the community plays well.

WLUNA Price Prediction: Technical Analysis

According to machine learning algorithms, the price of LUNC is expected to further drop in the coming days. Ultimately the price of WLUNA will follow this trend.

WLUNA Token Price Prediction

Now let’s look at the charts for Wrapped Luna Price Prediction in 2030, before and beyond. The price of WLUNA has been trapped in a range zone between $0.00005481 to $0.00006881 and it is now finally breaking above the local resistance level. After a small rebound, the price is expected to reach the first target of $0.000077.

However, there is a major resistance for Wrapped Luna Classic at $0.00012881 and it requires huge volume to cross these levels.

Wrapped LUNA Classic Price Prediction 2030

Wrapped LUNA Price Prediction 2030

But that’s just an analysis for this week or this month and we have to see a bigger picture to predict the WLUNA price in 2030 and before. If we zoom out the chart a bit, we realize that this gain is just a slight wave and the overall trend is contrary to what we see in the above chart. The overall trend of WLUNA is extremely bearish in the daily timeframe. The coin is losing momentum every day which is evident from the chart below.

WLUNA Price Prediction

Based on these technical price analysis tools, it seems that WLUNA might never recover its price. With the current team and nefarious fame, it will keep losing its price. However, some optimistic analysts believe the WLUNA's price prediction for 2030 is bullish with some amazing gains.

According to a more considerate and reasonable analysis, the price of WLUNA in 2025 is expected to reach a high of $0.0001, and the price is expected to reach $0.0002 in the next 5 years. Wrapped LUNA price prediction 2030 is 0.0032 in the best-case scenario.

Takeaway:

Wrapped tokens offer additional benefits and interoperability while reflecting the price of their original coin. However, in the case of LUNA, the original coin is an abandoned project so it is very unlikely for WLUNA to resurface.

Even if it follows the optimistic trend in the analysis above, it can never cover the losses of investors. Therefore, trade SAFU and do your own research before investing in any crypto project.