The Terra cryptocurrency ecosystem has been suppressed for the fourth month after the loud collapse that devastated the terraUSD (UST) stablecoin with a capitalization of $18 billion, also became the first of the triggers for the beginning of the crypto winter.
Due to many problems, the Terra artists decided to quit work on arrival. However, soon Terra Do Kwon proposed a plan for the receipt of tokens and announced a new version of the fall.
As a result of the rebranding, the new choice was named Terra 2.0 (with the LUNA cryptocurrency), and the original color was renamed Terra Classic (the original LUNA cryptocurrency was renamed to LUNC). As a result, LUNC with its previous values (~$110) fell below zero ($0.0004405), per token. Although LUNA collapsed from $10 to less than $2, it soon jumped to $5.7.
It is likely that investors are not yet in a hurry to return to Terra – in any version. For example, in the Terra Classic community, a definition of tax deductions from each on-chain transaction with a size of 1.2% was added. However, even this was not enough, and against the backdrop of the news, LUNC collapsed by more than 12%.
In the new version of Terra, things are no better either. On Monday, the editors wrote that the Polygon network began to actively attract the attention of developers from Terra. The head of Polygon, Ryan White, then noted that about forty-eight projects based on Terra want to “move” to Polygon. Exactly how many projects did get over remains unclear.