Do Kwon predicts that Luna 2.0 will be bigger than the original project, which impoverished a huge number of investors
The price of the new Luna token has crashed more than 70% since its launch, according to data provided by CoinMarketCap.
The cryptocurrency is currently trading at $6.46 on the Kraken exchange.
As reported by U.Today, the new version was released by Terraform Labs on May 28 to much fanfare.
Co-founder Do Kwon is yet to comment on the plunge that has already prompted some critics to brand Luna 2.0 as a failure. The controversial entrepreneur has been busy retweeting listing announcements from various exchanges.
Luna 2.0 has managed to garner support from most major exchanges despite the controversial nature of the project.
As reported by U.Today, cryptocurrency skeptical Ben McKenzie predicted that the new iteration of Terra would only cause more suffering.
The new LUNA token has a maximum circulating supply of one billion. Part of the tokens were airdropped on May 28.
Kwon’s cockiness is back, too
The implosion of Terra, which has left countless investors in the dust, hasn’t seemingly humbled Kwon.
Kwon already that Luna 2.0 will be bigger than classic LUNA, which was once valued at over $40 million.
When challenged for a $10 million wager by Eric Wall, chief investor for Arcane Assets, Kwon snarly replied that the former wouldn’t be allowed to bet half of his fund’s money.
Kwon, who called his detractors “poor” and predicted that TerraUSD rival Dai would “die by his hand,” hasn’t given up on his abrasive behavior.
After being accused of “making fool of everyone” with the revival of Luna, the entrepreneur simply replied “Ok.”
