Almost everyone in the crypto community has heard about the Luna and terra blockchain. This is because of the problem that caused the luna coin and thus the WLUNA price. But that is a different story from WLUNA crypto. In this paper, we want to discuss what is WLUNA and a short history of WLUNA price.
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A lot of users ask if will WLUNA recover. Then, we will also discuss that matter after we have discussed the WLUNA price. But, we should discuss what is WLUNA and what is the difference between WLUNA crypto and LUNA. Therefore, let’s begin to understand what WLUNA or Wrapped LUNA is.
What is Wrapped LUNA?
WLUNA is the wrapped version of LUNA classic. To understand what WLUNA is, you should first figure out what a wrapped token is.
A wrapped token is the equivalent of the token itself, that exists outside of the blockchain. For example, a wrapped Bitcoin is a token its price is equal to the price of BTC at the moment. Therefore, the WLUNA price is always equal to the price of LUNA as well. The WLUNA price will always stay at a 1:1 rate to the LUNA classic price.
To put it in another way, the WLUNA crypto is a representation of LUNA that isn’t part of its network. Then, after the failure of the TERRA network, the WLUNA price also crashed alongside LUNA. Therefore, a lot of users’ questions are “Will LUNA recover?”. To answer that question, we will first check out the WLUNA price and price history.
Wrapped LUNA: Origins
Before we get to discuss the WLUNA crypto price history, let’s discuss the WLUNA crypto history.
The developers launched WLUNA crypto in August of 2021, 9 months before the LUNA classic crash. WLUNA crypto is the wrapped LUNA classic token that exists outside of the blockchain. While it’s true that WLUNA crypto isn’t the LUNA classic itself, the WLUNA crypto price will follow LUNA’s.
A few months ago, after the LUNA and TERRA blockchain crashed, users started withdrawing their deposits. Then, it resulted in a dramatic drop in the LUNA classic and the WLUNA crypto price. The LUNA classic was trading at around $80 with an ATH at $100. Then, the WLUNA and LUNA price dropped to around $0.0001.
Now, you probably have learned what WLUNA is and what happened to LUNA and WLUNA price. Then, let’s discuss the WLUNA price history and answer the question “Will WLUNA recover?”.
Wrapped LUNA (WLUNA) price history
We have talked about what a WLUNA token is. Then, it’s time to discuss the WLUNA price and if WLUNA has a future. Or will WLUNA recover in the future or not?
To view the WLUNA price and price history there are multiple options. You can view the WLUNA crypto price on TradingView, CoinMarketCap, etc.
Here, we will use TradingView to go over the WLUNA price in this paper. Then, enter the platform and search for WLUNA against USD or WLUNA/USD.
Here, you can see the WLUNA price against USD in the Coinbase crypto exchange. As you can see, the WLUNA crypto price follows the LUNA classic price closely. Therefore, the WLUNA crypto price also has an ATH of around $120 and also crashed when the LUNA classic crashed.
Then, the WLUNA price stopped moving after it dropped to around $0.0001 in May 2022. Therefore, a lot of users have the question: will WLUNA recover? Then, we will discuss that in the WLUNA price prediction.
Wrapped LUNA price prediction for 2022 and beyond
Here, we will discuss the future of WLUNA and WLUNA price. Then, instead of WLUNA price prediction, it’s more of a: Will WLUNA recover? That is because the WLUNA price stopped moving in May 2022 and a lot of users started to worry.
Then, we will discuss the future of WLUNA price and will answer the question: Will WLUNA recover? And if WLUNA crypto has a future.
Does WLUNA have a future?
The reason why the WLUNA price stopped moving in May of this year is that Coinbase removed it from the platform. Then, the WLUNA crypto price can recover and there is no reason for the token to be lost. But the WLUNA represents the LUNA classic which is a separate blockchain from the second one.
The new LUNA will continue instead of the LUNA classic. Then, the users may still have the question that will WLUNA price recover?
A lot of analysts have predicted high numbers for WLUNA price prediction. But they don’t take that fact into account that the LUNA classic is the old version.
WLUNA crypto token is the wrapped version of LUNA classic. The Wrapped LUNA or WLUNA price follows the LUNA classic price as they trade with a 1:1 ratio. The WLUNA token crashed after the LUNA classic crash in May and Coinbase removed it from the exchange. That’s why the WLUNA price has not moved since May 2022.