The company behind TerraUSD and Luna, which sparked a crypto market collapse last month, launched a new coin. However, it is now developing actively. For example, nine days after falling to an all-time low of $1.62, the price of Terra\u2019s freshly minted new token (LUNA2) increased significantly.<\/p>\n
Regarding recovery from the previous low, LUNA2\u2019s pricing on June 27 reached $2.77, or a 70% increase. Nevertheless, the token is trading almost 77% below its May 30 historical high of $12.24.<\/p>\n
Related Reading |\u00a0Doom To Fail: Tether Shorts Pile In As Hedge Funds Seek To Profit From Crypto Winter<\/p>\n
According to CoinMarketCap, LUNA2 is currently trading at $2.36 and has a gain of 8% in the last 24 hours.\u00a0<\/p>\n
After the market fall, many people have been selling their cryptocurrencies. This has made the market more illiquid, even though the prices have started to rebound.<\/p>\n
However, the market has started to re-established itself since the recovery started moving during the past week. As a result, the liquidations have begun to level down, and the price of Terra has increased dramatically.<\/p>\n
LUNA2 Has A High Degree Of Risk?<\/p>\n
During the last week of May, the new Terra network became live and began trading on exchanges such as Bybit, Kucoin, Huobi, and Binance.<\/p>\n
LUNA is currently trading at $2.23 on the hourly chart | Source: LUNA\/USD chart from Tradingview.com<\/p>\n
By adding the newly launched token of the collapsed Terra network, cryptocurrency trading platforms first express their support for its rebirth.<\/p>\n
Notably, the price has changed significantly on various exchanges, primarily related to the trading volume. For example, the cost of LUNA2 jumped to $12.24 when it began trading on all major exchanges but ultimately lost all of its gains due to a sharp reversal.<\/p>\n
Similar to LUNA2, Terra UST, and Terra Classic Hikes<\/p>\n
TerraUSD has recorded a more than 400 % spike over the last seven days despite the heightened volatility associated with Terra\u2019s recently issued coin LUNA 2.0. According to CoinMarketCap, it is trading for an average price of about $0.02014. The 24-hour trading volume for UST is at $83 million.<\/p>\n
Related Reading |\u00a0Crypto Liquidations Settle As Bitcoin Recovers Above $21,000<\/p>\n
Similarly, The prices of Terra Classic (LUNC\/OLD LUNA) have also increased significantly over the past 24 hours. As a result, the market value of Terra Classic has climbed by $208 million. As per CoinMarketCap, data show the token was trading at $0.00008521 at the time of writing.<\/p>\n
On the other hand, Do Kwon, the CEO of Terraforms Labs is currently the subject of a hacktivist organization after dealing with several accusations made by Terra insider FatMan.<\/p>\n
\u00a0<\/p>\n
Featured image from Flickr and chart from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
The company behind TerraUSD and Luna, which sparked a crypto market collapse last month, launched a new coin. However, it is now developing actively. For example, nine days after falling to an all-time low of $1.62, the price of Terra\u2019s freshly minted new token (LUNA2) increased significantly.<\/p>\n
Regarding recovery from the previous low, LUNA2\u2019s pricing on June 27 reached $2.77, or a 70% increase. Nevertheless, the token is trading almost 77% below its May 30 historical high of $12.24.<\/p>\n
Related Reading |\u00a0Doom To Fail: Tether Shorts Pile In As Hedge Funds Seek To Profit From Crypto Winter<\/p>\n
According to CoinMarketCap, LUNA2 is currently trading at $2.36 and has a gain of 8% in the last 24 hours.\u00a0<\/p>\n
After the market fall, many people have been selling their cryptocurrencies. This has made the market more illiquid, even though the prices have started to rebound.<\/p>\n
However, the market has started to re-established itself since the recovery started moving during the past week. As a result, the liquidations have begun to level down, and the price of Terra has increased dramatically.<\/p>\n
LUNA2 Has A High Degree Of Risk?<\/p>\n
During the last week of May, the new Terra network became live and began trading on exchanges such as Bybit, Kucoin, Huobi, and Binance.<\/p>\n
LUNA is currently trading at $2.23 on the hourly chart | Source: LUNA\/USD chart from Tradingview.com<\/p>\n
By adding the newly launched token of the collapsed Terra network, cryptocurrency trading platforms first express their support for its rebirth.<\/p>\n
Notably, the price has changed significantly on various exchanges, primarily related to the trading volume. For example, the cost of LUNA2 jumped to $12.24 when it began trading on all major exchanges but ultimately lost all of its gains due to a sharp reversal.<\/p>\n
Similar to LUNA2, Terra UST, and Terra Classic Hikes<\/p>\n
TerraUSD has recorded a more than 400 % spike over the last seven days despite the heightened volatility associated with Terra\u2019s recently issued coin LUNA 2.0. According to CoinMarketCap, it is trading for an average price of about $0.02014. The 24-hour trading volume for UST is at $83 million.<\/p>\n
Related Reading |\u00a0Crypto Liquidations Settle As Bitcoin Recovers Above $21,000<\/p>\n
Similarly, The prices of Terra Classic (LUNC\/OLD LUNA) have also increased significantly over the past 24 hours. As a result, the market value of Terra Classic has climbed by $208 million. As per CoinMarketCap, data show the token was trading at $0.00008521 at the time of writing.<\/p>\n
On the other hand, Do Kwon, the CEO of Terraforms Labs is currently the subject of a hacktivist organization after dealing with several accusations made by Terra insider FatMan.<\/p>\n
\u00a0<\/p>\n
Featured image from Flickr and chart from TradingView.com<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-2142","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=2142"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2142\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=2142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=2142"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=2142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}