Terra Luna Classic (LUNC) rallied over 60% in the past 24 hours to $0.00013, as per CoinGecko, after the newly launched coin crashed within hours on day 1 of its trading on May 28 when Terra launched new chain airdropping Luna 2.0. Under the recovery plan for the Terra ecosystem, developers said they will create a new Terra blockchain with a revived Luna token. Under Do Kwon’s newly approved structure, the original blockchain will be known as Terra Classic, while its native token Luna, which plunged close to zero this month, will be renamed Luna Classic with the ticker LUNC. The new Terra blockchain has started running a coin under the existing Luna name and ticker, and does not include the TerraUSD stablecoin. Terra backers will distribute the new Luna token to Luna Classic and UST holders.

Source: Mint May 30, 2022 18:43 UTC