Cryptocurrency token LUNA 2.0 has fallen by 85% since its relaunch

Terraform Labs' attempt to recover from the TerraUSD (UST) token crash ended in failure — the LUNA 2.0 cryptocurrency token has fallen in price by 85% since its release.

The fall began immediately after the airdrop, where new tokens were distributed to Luna Classic token holders — the withdrawal of funds from the project was so serious that the price of the cryptocurrency dropped by 67% within a few hours.

However, this was not a support level — the drop continued afterwards. At the moment, LUNA 2.0 is trading at around $ 3 per token.

The reason for the uncontrolled fall is the market’s complete distrust of the founder Do Kwon(even the CEO of Binance does not believe him), lawsuits, and the publication of insider information, which only increases distrust of the project manager.