In brief
Terra’s LUNA has climbed 166% in value today, as of this writing, following a sizable rise for LUNC (LUNA Classic) this week.
The original Terra ecosystem collapsed in May. LUNA Classic is the original coin, while LUNA is a new coin from a rebooted blockchain network.
The twin collapses of Terra’s UST stablecoin and LUNA cryptocurrency are widely blamed for at least partially causing May’s market-wide crypto crash, resulting in a cascade of crumbling crypto valuations. But after all the turmoil—believe it or not—the rebooted LUNA and the rebranded LUNA Classic (LUNC) have both skyrocketed in recent days.
LUNA has increased in value by 166% over the last 24 hours to reach a current price of over $5, per data from CoinGecko. It’s a surprising surge for a coin that has barely budged since early June, sticking close to the $2 mark. The price popped as high as $6.87 over the last day, marking a peak 247% increase since the start of the day Friday.
While it shares the name of the...
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