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‘No Future:’ Analysts Weigh In on New Luna Token’s Prospects

Terra's Luna Amid Its $60 Billion Implosion
Photographer: Gabby Jones/Bloomberg

Since the backers of the failed Terra blockchain launched a new digital token to compensate investors burned by one of crypto’s biggest busts, the blows have kept coming. 

Luna 2.0, as the coin is known, emerged out of the ashes of crypto entrepreneur Do Kwon’s ecosystem, which collapsed after the TerraUSD algorithmic stablecoin at the center of it dropped from its dollar peg in early May. But any hopes of a quick recovery for investors who lost billions of dollars in the crash are fading, with the token losing more than half of its value in the past week alone, based on data from CoinGecko.