Investors Dump LUNA 2. In Two Days, the Price of the Token Fell By Almost 70%

According to the revival plan proposed by Terraform Labs founder Do Kwon, new tokens called LUNA 2 are being given away to investors who previously held Luna Classic (LUNC), TerraUSD Classic (USTC), and Anchor Protocol UST (aUST).

But according to data from CoinGecko, the price of the LUNA token has fallen by about 69% since opening from $18.87 on Saturday to $5.71 at the time of writing.

Probably, the price fell due to the distrust of investors to restart the network. Some Twitter users have written that they are just hoping to get back at least some of their investment before abandoning the project for good.

This is despite Binance announced the beginning of the multi-year distribution of LUNA to eligible users starting May 31, along with listing the token for trading through its Innovation Zone, a dedicated trading area for volatile and high-risk assets.

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