Terra Network rate


What is Terra Network

Terra Network (LUNA) is the native token of the "new" Terra Network. The "new" Terra Network (LUNA) token is a result of a hard fork of the (failed) original Terra blockchain (rebranded to Luna Classic – LUNC). The project was initially very successful, but an external attack in May 2022 exposed the vulnerabilities of Terra Network and it's "stablecoin" UST. From the moment the price of the "stablecoin" UST started to fall from its fixed relationship with the dollar, there was virtually no stopping to it. The “bank run” that followed has caused both the UST and LUNC to lose almost all of its value. In an effort to restore the network and give it another chance, a hard fork has been carried out that gave birth to "Terra Network (LUNA)" and continues as a standalone crypto without the algorithmic "stablecoin" UST. The LUNC holders received an airdrop of the "new" You can safely and reliably buy and sell LUNA on LiteBit.

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