‌Luna coin was once called “Cryptocurrency Moutai” by players in the currency circle

Luna coin (LUNA) is the native token on the Terra platform and is mainly used for the issuance, price stabilization mechanism and network governance of the stable currency TerraUSD (UST). The issuance and destruction mechanism of Luna coins is closely related to the price stability of UST, ensuring that UST can maintain a 1:1 anchor with the US dollar, thereby providing users with a stable value storage and transaction medium in the volatile cryptocurrency market‌.

However, the price of Luna currency fluctuated greatly. It once soared from the lowest point of $0.12 to $119.5, but also plummeted to almost zero in a short period of time. This kind of violent price fluctuation makes its title of "Cryptocurrency Moutai" not entirely appropriate. In fact, the price fluctuations and risks of Luna Coin are significantly different compared to the price stability of Moutai.

In addition, Do Kwon, the developer of Luna Coin, was suspected of financial fraud, causing global investors to lose approximately US$40 billion, which also had a negative impact on its title as "Moutai in the currency circle".

Although Luna Coin has market performance and investor recognition similar to Moutai in some aspects, the launch and revival plan of Luna 2.0. This will further enhance everyone’s confidence in Luna!