Earlier on Saturday, terraform lab launched the new version of Terra blockchain "Terra 2.0" and equipped it with newly minted Luna tokens. According to the data compiled by coinmarketcap, about 12 hours later, Luna (labeled luna2 in some exchanges) has decreased by nearly 73% of its initial value. As of the writing of this article, the trading price was $5.18, and its highest price earlier was $19.54.
Luna tokens can be traded on the bybit cryptocurrency exchange about 10 minutes after their launch. About an hour later, kucoin also announced the launch of Luna trading.
Regarding the No. 1747 proposal of blockchain terra, the governance vote to destroy 1388million ust stable coins has been passed. This will reduce the supply of UST, accounting for about 11% of its total supply of 11.28 billion tokens.
According to the data of coinmarketcap, Luna currently trades on seven different exchanges -- bybit, kucoin, Kraken, mexc, okk, bitrue and bingx. These exchanges have not started Luna futures trading.
Do Kwon, chief executive officer of Terra, kept silent on twitter today except for forwarding the announcement of the exchange.
"Reputation is the ultimate currency," said zhaochangpeng, CEO of binance, in a tweet shortly after Terra 2.0's debut. (however, binance is also one of the organizations that provide support for Terra's new block chain). In the craziest week in cryptocurrency history, the collapse of Terra's ust stable currency and governance token Luna became the most important event.
Many people are still skeptical about Terra 2.0. Crypto YouTube Ben Armstrong said bluntly. "Never buy Luna again".
Other Twitter users said that they adhered to the original Luna and later renamed it Terra classic (lunc), which was called Luna classic by some. According to the data of coinmarketcap, Luna fell by 29% to US $0.00009031 in the past 24 hours. Lunc reached a peak of $119.18 last month, and then experienced a historic collapse, which wiped out the value of tens of billions of dollars.
According to the data of coinmarketcap, of the 1billion new Luna tokens, only 21million were "airdropped" on Saturday and joined the circulation supply, and the rest will continue to be released in stages.
