Although it is the first month of summer, the crypto market is shivering - the crypto winter is in full swing. Amid the biggest slump of this year, even those coins that have reasons to rise may slide in a flash.
The LUNA 2.0 cryptocurrency is struggling to advance amid the ongoing crash. Launched shortly after the failure of the first LUNA token, the new iteration of LUNA managed to gain some ground before plunging once again. LUNA 2.0 is currently accepted for trading at Bybit, Kucoin, and Huobi, with a Binance listing planned in the future. The old LUNA token, which had a market capitalization of $40 billion at its peak, is now listed as Classic Luna.
Originally, LUNA was a sister token of the TerraUSD stablecoin and was used for maintaining its peg to the US dollar. However, the stablecoin lost its peg in the spring of 2022 due to speculative actions in the market, resulting in a massive sell-off of TerraUSD. The cryptocurrency plunged to $4.39 from its listing price of $19.53.
