Newly Launched Luna 2.0 Is Down 60% From Its $20 All-Time High

Thanks to the fall of TerraLuna, the whole crypto market is struggling.

TerraLuna founder Do Kwon hasn’t given up hope yet. LUNA 2.0 went live on Saturday, but it’s already crashing.

“Yesterday, we said Terra 2.0 is coming. Tomorrow, it arrives. The community has been working around the clock to coordinate the new chain’s launch. Subject to potential change, we expect Terra to go live on May 28th, 2022 at around 06:00 AM UTC.”

Luna 2.0 hit a high of around $20 after its launch but is currently down 60% to $8, according to CoinMarketCap. It hit $5 several hours ago and is seeing a slight recovery.

Do Kwon also promised investors of the Classic Luna tokens a Luna 2.0 airdrop. Airdrops are when an investor or developer gifts tokens to other investors. After people lost their life savings when Luna crashed, investors who received an airdrop are selling it off for safer choices.

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