What is dead may never die. 

Nearly two years after LUNA collapsed from over $80 to less than a cent, erasing $60 billion in value and triggering a crypto-wide bear market, the new version of the cryptocurrency made a surprise rally on Tuesday, jumping 77% in just two hours.

Don’t get too excited (or concerned)—LUNA, the rebooted version of the original native token of the now-defunct Terra ecosystem (now called Luna Classic, or LUNC), is nowhere near returning to the original LUNA’s position of dominance.

It did jump today from $0.83 to $1.47, however, on marginally encouraging news about Terra’s currently incarcerated founder, Do Kwon. But the gains aren’t holding, with the price of LUNA already falling to $1.12 as of this writing. Still, that’s a 39% leap over the last 24 hours.

Kwon is currently in a Montenegro prison awaiting extradition to either the United States or his nati

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Author: Sander Lutz

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