After an epic collapse that ended with tens of billions of dollars in investments, the Luna cryptocurrency project is taking on a new shape. Luna 2.0 was officially launched on Saturday and immediately sank like a lead balloon, its value dropped more than 70 percent, according to CoinMarketCap. So what is this digital Hindenburg? LUNA is a witness affiliated with the Terra blockchain, which has been considered for its so-called “stablecoin” offerings: cryptocurrencies whose assets are intended to be less volatile by linking their value to the US dollar or other assets. All of this collapsed last week on Earth, and Luna’s value quickly dropped to near zero. Holders of the old version of Luna were allegedly sent new versions of the currency before the relaunch, but numerous commentators on the company’s Twitter page complained otherwise. Our best wishes to the #LUNAtic community.
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