Terraform Labs early Saturday launched a new version of the Terra blockchain, “Terra 2.0,” with freshly minted LUNA tokens.
Roughly 12 hours later, LUNA (labeled LUNA2 on some exchanges) had shed almost 73% of its initial value, trading as of this writing for $5.18, according to data compiled by CoinMarketCap. It peaked earlier at $19.54.
Other Twitter users said they were sticking by the original LUNA, since renamed Terra Classic (LUNC) and referred to by some as LUNA Classic, which is down 29% over the past 24 hours to $0.00009031, according to CoinMarketCap. LUNC peaked last month at $119.18 before a historic crash that wiped out tens of billions of dollars in value.