Terra launched a new version of the Luna cryptocurrency

After the sharp collapse of the Luna token (which at its peak had more than $40 billion in circulation, and then rapidly went to zero), Terra launched a new version of the Luna cryptocurrency. The revived token is already being traded on exchanges, but its start cannot be called good, and the current value shows a decrease.

Last week, Terra supporters voted for the return of Luna, but not on the basis of Terra UST/USD, the so-called algorithmic stablecoin. Earlier, the panic in the market was caused by the fact that this stablecoin fell below the expected peg to the dollar. 

Now Luna has a new version, which investors call Terra 2.0. This cryptocurrency is already traded on the Bybit, Kucoin, Huobi exchanges, and Binance, the world's largest cryptocurrency exchange, announced that it will list Luna on Tuesday.

However, analysts are skeptical about the chances of the revived Terra blockchain to succeed. The new cryptocurrency will have to compete with many other so-called «tier 1» networks – the infrastructure underlying the Ethereum, Solana and Cardano cryptocurrencies.

At the moment, after reaching a peak of $19.53 on Saturday, Lena has fallen again – to $4.39. Today, the price is hovering around $6.