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A new version of the crashed luna cryptocurrency has already been launched on major exchanges, and it has started badly.
Source: CNBC
LUNAUST up +10.17% USTUSD down -24.99%
Last week, the Terra community voted to bring back luna but not TerraUSD, the so-called stablecoin that plummeted below its target peg to the dollar, leading to widespread panic in the crypto market.
At its peak, the old luna, now dubbed “luna classic,” had a circulating supply of more than $40 billion.
Luna has a new version, which investors are referring to as Terra 2.0. It is now trading on exchanges including Bybit, Kucoin, and Huobi. Binance is set to list luna on Tuesday.
Its unveiling has not gone well. After hitting a peak of $19.53 on Saturday, Luna plunged as low as $4.39 after a few years. It has now settled at an average price of $5.90.
Analysts are skeptical about the possibility of Terra’s revised blockchain being successful due to a massive loss of confidence in the project.
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