The new version of LUNA cryptocurrency dubbed Terra 2.0 was trading at $6.48 per virtual coin as of 17:04 Moscow time (14:04 GMT) on Monday, according to the CoinMarketCap cryptocurrency price-tracking website's data
MOSCOW (Pakistan Point News / Sputnik - 30th May, 2022) The new version of LUNA cryptocurrency dubbed Terra 2.0 was trading at $6.48 per virtual coin as of 17:04 Moscow time (14:04 GMT) on Monday, according to the CoinMarketCap cryptocurrency price-tracking website's data.
The old LUNA, also known as LUNA classic, and its associated TerraUSD stablecoin, or UST, crashed in early May after the majority of investors decided to redeem their tokens at the same time. Some $55 billion of the project's market cap disappeared, resulting in huge losses for many investors and the meltdown of the cryptocurrency.
The Terra blockchain project voted to revive LUNA last week and put it back on exchanges on Saturday as Terra 2.0. Terra decided that the majority of LUNA tokens will go to those who had earlier held LUNA classic and UST coins before the collapse. The majority of investors have already said that they were selling their tokens during the first day of exchanges since they have lost trust in Terra and wished to reimburse at least a small part of their money lost with the old LUNA and UST.
The price of the new LUNA spiked up to $19.53 per coin on Saturday; however, dropped to less than $4.1 within hours. The digital Currency has since been fluctuating between $4 and $6.8 per coin.
Currently, the new LUNA is trading on exchanges Bybit, Kucoin, and Huobi, and will be listed on the world's largest cryptocurrency exchange Binance on Tuesday.
