Terra LUNA 2.0 crashes over 80% as whistleblower FatMan warns $80m a month cashed out pre-crash

Dubbed “the rebirth of Luna” — The Terra 2.0 chain was supposed to give the Terra chain and its community a phoenix-like chance at an epic rebirth.

Terra 2.0 has now dropped over 80% its launch, an that there is no re-birth in sight, but just another opportunity for Terra to cause more havoc on the crypto market as it keeps liquidating bullish investors.

Why are people still investing in Terra 2.0

As if the $40 billion in losses caused by Terra and Do Kwon wasn’t enough, Terra 2.0 continues to liquidate investors, as it reduced its marketcap by over $4 billion in the last 10 days, dropping over 80% since its launch price.

Without a product Terra 2.0 remains as only a promise to “make whole” investors who have potentially lost their life-savings on LUNA and UST. Paradoxically, this promise has only caused more losses so far. It is understandable why people with significant losses want this project to work — they want to, at least break even. However, there’s a time to double-down, and a time to cut your losses. All market signs point to the latter.

It is uncertain whether Terra 2.0 will pick up in the future, but it’s quite clear that no short term gains…