Why are there three, not one? 🤔 Let's get into the "family" of Terra!
It's all about the history of the collapse and rebranding of the old Terra (LUNA) project in May 2022. After the collapse of the algorithmic stablecoin UST (now USTC), the ecosystem split:
1. Terra Classic (LUNC) — the original chain that survived after the collapse. LUNC is the "survivor" token of the old network. Its price is $0.00007746 (+53.02%).
2. TerraClassicUSD (USTC) — the former algorithmic stablecoin UST, which uncoupled from the dollar and turned into a volatile asset. It's currently trading at $0.01309 (+75.23%).
3. Terra (LUNA) — this is the new blockchain chain created by developers after the collapse. It lives separately and has its native token LUNA ($0.1519, +50.10%).
So yes — there are three of them because these are three different entities: the old network, its "broken" stablecoin, and the new, relaunched version of the project.
The irony is that all three are in the green zone today 🚀… Apparently, the memory of the collapse no longer scares the market 😅
