Does Terra Luna Deserve a Second Chance in Your Crypto Portfolio?
The Terra Luna (CRYPTO: LUNA) comeback continues. After blowing up spectacularly earlier this year, Terra Luna is back in the form of Terra Luna Classic (CRYPTO: LUNC), which was formed from the ashes of the original Terra blockchain. In September, Terra Luna Classic was one of the top-performing altcoins, and there are now petitions all over social media for exchanges Coinbase Global and Robinhood Markets to list Terra Luna Classic for trading. At one point in September, Terra Luna Classic was up 400%, bringing with it a lot of attention from speculators.
But is Terra Luna Classic right for your crypto portfolio? Keep in mind: The old Terra Luna went from $100 to nearly zero in a matter of days, dragging down the entire Terra blockchain ecosystem and contributing to the implosion of the crypto industry. Is it really possible that, less than five months after such an epic disaster, Terra Luna is ready for a comeback?
To answer this question, you first have to understand that a lot of financial machinations have taken place within a relatively short period of time. After the collapse of the Terra ecosystem in May, the team behind Terra Luna decided to "fork" the Terra blockchain into two different chains. There would be an entirely new chain called Terra 2.0, and the continuation of the original blockchain called Terra Classic. The naming convention was meant to evoke the split of the original Ethereum into Ethereum and Ethereum Classic. Plus, the term "classic" has a sort of warm and reassuring feel to it. It's not really a word one associates with toxic financial products.
Source Fool.com
