Luna 2.0 coin crashes after rocky launch
Developer rejects alleged misdeeds
The relaunch of the highly controversial Luna cryptocurrency faces a rocky start after losing 75% of its value.
On May 28, Luna 2.0 tokens entered the market at 15 baht per coin and surged to over 850 baht. The unit then nosedived to 119 baht, a 75% decline on the price recorded on its relaunch day. As of May 30, the coin is stagnant at around 200 baht, according to crypto exchange Bybit.
Earlier this month, the original Luna coin witnessed a historic crash and was essentially deemed worthless as it plunged to less than a satang on May 13. It had reached an all-time high of 4,075 baht in April.
The Luna coin supposedly had a special algorithm designed by…
