The relaunch of Terra's new Luna token has witnessed a dull start and failed to impress the investors who received the new tokens following last month’s collapse of the cryptocurrencies tied to the failed Terra blockchain.
The original Terra Chain has been rebranded as Terra Classic and Terra has been relaunched as Terra 2.0 as developers behind failed stablecoin TerraUSD voted to abandon the token in favor of creating a new blockchain and digital asset weeks after the cryptocurrency collapsed.
The original blockchain was split off and be known as Terra Classic, while Luna, which plunged close to zero last month, was renamed Luna Classic with the ticker LUNC. The new Terra blockchain does not include a stablecoin.
The average price of the Luna 2.0 token has remained below $11 in the last week since they were distributed by Terra, according to data complied by tracker Kaiko.
While there is not a widely recognized data point to calculate a market value for Luna 2.0, a rough estimate...
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