What happened to Terra & Luna cryptocurrencies in May?

The original Terra ecosystem collapsed in May. LUNA Classic is the original coin, while LUNA is a new coin from a rebooted blockchain network. The twin collapses of Terra’s UST stablecoin and LUNA cryptocurrency are widely blamed for at least partially causing May’s market-wide crypto crash, resulting in a cascade of crumbling crypto valuations.

What is Luna (Luna)?

LUNA is a cryptocurrency coin based on the Terra blockchain, which makes it possible to create and exchange digital assets. LUNA is a native token of the Terra blockchain that's used to pay transaction fees and reward other users for participating in the network. LUNA can be used to buy goods and services from businesses that accept such coins.

Is Luna outperforming the crypto market today?

Even so, LUNA isvastly outperforming the wider crypto market today as the largest gainer in the top 100 cryptocurrencies ranked by market cap. The overall market is up more than 6% today, with leading cryptocurrency Bitcoin up by 10%. Stay on top of crypto news, get daily updates in your inbox.

How much is Terra Luna (Luna) worth?

The Terra Luna price, or LUNA token price at the time of writing, is$102.47, with a circulating supply of 354.7 million LUNA for a market cap of $36.3 billion. What Is Terra Luna? Terra Luna is a blockchain built around a family of stablecoins to enable easy crypto transactions on a global scale.