LUNA Reboot Plummets Over 70% Just Hours After DebutAfter peaking at $19.54 earlier on Saturday, it

Terraform Labs early Saturday launched a new version of the Terra blockchain, “Terra 2.0,” with freshly minted 
Roughly 12 hours later, LUNA (labeled LUNA2 on some exchanges) had shed almost 73% of its initial value, trading as of this writing for $5.18, according to data compiled by CoinMarketCap. It peaked earlier at $19.54.

LUNA tokens became available for trading at the bybit cryptocurrency exchange about 10 minutes after launch, and about an hour later, Kucoin also announced it was enabling LUNA trading.

“Credibility is the ultimate currency,” tweeted Binance CEO Changpeng Zhao shortly after Terra 2.0 debuted. (Binance was among those offering support for Terra's new blockchain, however.)


Currently, LUNA is traded acros seven different exchanges—Bybit, Kucoin, Kraken, MEXC, OKK, Bitrue, and BingX—according to CoinMarketCap. None of the exchanges have enabled LUNA future trading.
Terra CEO Do Kwon was mostly quiet on Twitter today other than retweeting announcements from exchanges.