As we announced yesterday, Terra (LUNA) 2.0 launched today. We of course take a look at the live Bitcoin price and the prices of the top 25 crypto. Then we look back at the first day of Terra (LUNA) 2.0. What happened and how did the price of this crypto develop?
We start of course with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price flat, top 25 crypto positive
At the time of writing, that live Bitcoin price is quoting EUR 27,156.04 ($28,987.36). This is 0.75% higher than yesterday around this time and also higher than during our crypto update last night, which appeared later.
The prices of the top 25 crypto are generally positive. There are, however, a few coins that are recording a loss. The biggest loss is for Monero (XMR), which is losing 4.12%. The biggest gain is currently at +7.47% for Avelanche (AVAX). On the site of Tradeincrypto.com you can view all live crypto prices 24 hours a day.
Terra (Luna) 2.0, this you need to know about this crypto
Yesterday we already announced that today Terra (LUNA) 2.0 would be launched. However, there were still a few things unclear in this article, so high time to fill you in completely about this new well-known crypto.
Not a hard fork, but a new blockchain
Yesterday we reported that a hard fork would take place. However, this is not the case, they have launched an entirely new blockchain. This happened earlier than expected, namely at 9 am Dutch time instead of 10 am.
Avoid name confusion: the old blockchain changes
There was also name confusion. The new blockchain will continue under the name Terra (LUNA). The old blockchain with its associated crypto also continues to exist. It will now continue under the name Tera Classic (LUNC).
What was the introductory price of Terra Luna?
Each exchange, of course, determined its own introductory price. We use the data from Coinmarketcap.com. There we see that the introductory price was $17.80.
How did the trading of Terra (LUNA) go?
The first day was nothing to write home about. As mentioned, the coin started at $17.80. Immediately after the opening of trading, the price plunged to an initial low of $13.27. After this the price quickly recovered and there was even room for price gains. Within fifteen minutes the price rose to $ 19.53 and that is so far the all time high for Terra (LUNA) 2.0.
Then the price went down hard again. Within minutes the price dropped to the opening price and then the free fall began. This afternoon, the price briefly reached a bottom at $3.931 before rebounding slightly. At the time of writing, the live Terra (LUNA) price stands at $4.4969. So this is a price loss of 74.74% in less than 10 hours.
Does the market have confidence in this old new crypto?
With a 75% price loss in less than 10 hours, that question seems quickly answered. In fact, given the general situation in the crypto market, it seems that many investors are actually looking for another investment.
We already saw yesterday that there were several critics who were lying to hope against this new old acquaintance. We can also add Vitalik Buterin to this list. He has even developed two “thought steps” to see if an automated stable coin is viable. A coin with 20%% return (as promised by Terra before the crash) certainly does not meet this.
Does it make sense to invest in Terra Classic (LUNC)?
With the new Terra (LUNA) not inspiring confidence (yet), it might be an idea to invest in the Terra Luna Classic (LUNC). Unfortunately, even the old crypto is not responding as many investors like to see. The Terra Luna Classic (LUNC) price is $0.000082. With this, the price of this crypto delivers 40.87% in value in 24 hours.
On top of that, investors are still watching the course of events surrounding the mega crash with suspicion. We already saw yesterday that the founder is under fire. Today we received the news that the collapse of this “classic” crypto was deliberately caused by 7 whales. With that, the network seems vulnerable and it is therefore logical that investors are cautious.
Of course, we will continue to follow the developments.
Want to stay up to date on the latest stock price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”
