You still hear this a lot:
“LUNC once hit $119, it will go back there.”
That’s not how it happened.
The coin that reached $119 was old Terra (LUNA), not today’s $LUNC .
Back then:
Total supply was around 350 million
The system was stable
LUNA was used to maintain the UST stablecoin peg
When UST lost its peg, the protocol started minting massive amounts of LUNA to defend it. That failed. Supply exploded into the trillions, and the price collapsed.
After the crash:
Old LUNA was renamed Terra Classic (LUNC)
A new chain launched as Terra 2.0 (LUNA)
So the LUNC on Binance today is the post-crash coin, not the one that hit $119.
Important detail:
LUNC’s actual ATH is around $0.00059, not $119
Can LUNC ever reach $1 or $119?
Realistically:
With a supply in the trillions, $1 would require a $5–6 trillion market cap
That’s not realistic under current conditions
What is possible:
Gradual price improvement if massive burns (99%+) continue
Strong community activity and real utility
Just don’t anchor to impossible targets.
The takeaway
Old LUNA ≠ current LUNC
Low supply took LUNA up
Massive supply crushed $LUNC
Research beats hype every time.
