Exchanges show initial support to Terra revival by listing new LUNA token

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Crypto-trading platforms show initial signs of support for the revival of the collapsed Terra network by listing Terra’s brand new sign, also called LUNA.

The HitBTC exchange came to Twitter on Wednesday to announce that the new Luna de Terra chain token will be available on its platform on May 27th.

The news comes amid Terraform Labs preparing to relaunch its protocol on May 27 and replace the old chain referred to as Terra Classic with the new chain called only Terra, or Terra 2.0. The new chain will not be a fork because it will be created starting from the genesis block that will not share a story with Terra Classic, Terraform Labs. said on May 23rd.

Terra’s new token will be named Luna, replacing the old token referred to as Luna Classic (LUNC).

As previously reported, Terraform Labs CEO Do Kwon proposed creating a new Terra chain without Terra’s TerraUSD (UST) algorithmic stability in mid-May, suggesting LUNA flights through LUNC partners and owners, UST owners and Terra Classic developers.

The proposal immediately received community support, with 91% of Terra validators voting in favor of the Terra “rebirth” on May 18. At the time of writing, the community poll is still ongoing, with about 67% of voters. supporting The revival of Terra as Terra 2.0.

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Terra Network rebirth survey. Source: Earth Station

Terra’s revival comes after Terraform Labs shut down the Terra blockchain on May 12, after a massive crash of both LUNA and UST, with the Luna token dropping to 99%.