The Terra ecosystem launched a new blockchain, known as Terra 2.0, on 28 May 2022, following the collapse of the original Terra network. The new token, also called Terra (LUNA), initially traded at around $17.80, peaking briefly at $19.53 before declining sharply.
The original chain was renamed Terra Classic (LUNC), which continues to have a larger market capitalisation than LUNA 2.0. As of 3 November 2025, LUNA 2.0’s market cap stood at approximately $61.79 million – a decline of about 71.58% year on year – indicating lower investor confidence and continued volatility (CoinMarketCap).
Major exchanges, including Binance, OKX and KuCoin, still list LUNA 2.0 for trading. However, activity remains subdued, with limited trading volumes and reduced liquidity.
Terra Luna’s revival plan
The Terra community approved a revival plan to launch a new, non-algorithmic blockchain – Terra 2.0 – as a separate network from the failed Terra Classic chain.
The original LUNA coin was tied to the algorithmic stablecoin TerraUSD (UST), whose loss of its US dollar peg in May 2022 led to a collapse in value across both tokens.
The UST redemption mechanism, intended to maintain a $1 peg through arbitrage and supply adjustments, broke down under extreme market stress. As a result, the Luna Foundation Guard liquidated its bitcoin reserves in an effort that ultimately failed to restore UST stability, which also contributed to a broader cryptocurrency market downturn.
What is LUNA 2.0?
Terra 2.0 was launched following a hard fork, which was approved by a majority vote within the community.
The new chain operates without an algorithmic stablecoin and aims to rebuild the ecosystem through community-led governance and enhanced developer support.
LUNA 2.0 tokens were distributed via an airdrop to previous LUNA and UST holders:
30% allocated to a community pool (including 10% for developers)
35% to holders of pre-crash LUNA
10% to holders of pre-crash UST
10% to holders of post-crash LUNA
15% to holders of post-crash UST
Most airdropped tokens were subject to a vesting period, with 30% made available at launch and the remainder released gradually over a two-year schedule.
Terraform Labs’ wallet was excluded from eligibility to support the development of a community-driven network.
The new blockchain is compatible with Terra Station, Terra Finder and Terra Observer, maintaining access to key functions such as staking, governance and developer tools.
LUNA 2.0 (Terra) price history
Binance, OKX and KuCoin listed LUNA 2.0 shortly after its launch, with Binance categorising it within its Innovation Zone for experienced traders. While early listings led to short-term price spikes, the token declined soon after as recipients began selling their airdropped holdings. Subsequent rallies, including a brief 200% increase in September 2022, were mainly driven by community activity and proved short-lived.
Since 2024, developer activity has moderated, with fewer new decentralised applications (dApps) launched on the Terra 2.0 chain than initially anticipated. Community engagement continues, particularly around governance and token burn initiatives, although overall ecosystem growth has slowed.
After closing 2023 at $0.8610, LUNA 2.0 rallied through Q1 2024, with closes rising above $1.20 in late March ($1.2726 on 25 March 2024) before cooling into the second half of the year. By 3 November 2024, LUNA 2.0 closed at $0.3152.
In 2025, the token opened at $0.4319 on 1 January and spiked early in the year, but the overall trend turned lower into mid-year and autumn. A period of sharp intraday swings in October 2025 preceded further declines.
LUNA 2.0 closed at $0.0876 on 3 November 2025, down about 78.9% year to date (vs $0.4159 on 31 December 2024) and down about 72.2% year on year (vs $0.3152 on 3 November 2024).
