The crash has dashed the community's hopes of reviving Terra
coinmarketcap.comFollowing the failed launch of the new token, Terraform Labs founder Do Kwon went silent on Twitter once again, setting his profile to private.
Luna 2.0, which made its debut in late May, tumbled 80% to roughly $4 within the first day due to significant selling pressure. However, the coin quickly managed to recover to nearly $12 on the cusp of its Binance listing. The token appeared in the exchange’s Innovation Zone due to posing a higher level of risk.
After erasing these gains, the LUNA token is now down more than 81% from its all-time peak, failing to revive Terra.
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