Our community of professionals is committed to lifetime learning, career progression and sharing expertise for the benefit of individuals and organizations around the globe. But again, they still reap fees from those trades.For 50 years and counting, ISACA ® has been helping information systems governance, control, risk, security, audit/assurance and business and cybersecurity professionals, and enterprises succeed. And most of them have sort of attested that the point of relisting the coin, despite its major collapse earlier, has been a way to sort of, hopefully, help investors. So I think as we watch this, it's just important to sort of pay attention to what's going on with exchanges.Īnd to that point, I'll say that I've spoken with exchange operators. So when you see a cryptocurrency ecosystem sort of diverge like this, it's also sort of not great signs that it's division in numbers, so to speak. And there's like- there's a whole, sort of, sector or, like, portion of the community which is sort of staying on Luna Classic. The other thing I'll point out is the original Luna blockchain is still alive. But I think you're kind of watching this play out. And thousands of investors were a part of that.īut I think that being said, when you see these price fluctuations, I think it's all dictated on when you get- when investors get these new tokens, is it better for them to sell out immediately? Or do they want to wait and see if more exchanges will list them and potentially claw back more of their losses? So again, none of this is financial advice. But if you read between the lines, that's clearly what- I mean, the best sort of thought that could come out of this for investors. I think the main priority is to try and salvage the technology, so to speak, and the developers who are working on it. I mean, is that the idea here, to make those investors who lost so much whole? I mean, why resurrect it?ĭAVID HOLLERITH: I mean, I think that's absolutely something that is not necessarily stated as the main priority. Yeah, David, it sort of feels like they're just digging themselves into a hole even more. The number one question is like, who are the buyers on the other side of this trade after seeing such a catastrophic loss? And every time they do that, you can think of more- opening access for more buyers, which is kind of interesting. Now, that being said, there's- the way this cryptocurrency gets more liquidity is that cryptocurrency exchanges agreed to relist this new Luna 2.0 token. It's also a way to sort of take some of the technological applications that were built on the blockchain and sort of keep them moving, keep them running, so to speak. Now, it's sort of thought of as compensation. Second, new- or older investors of Terra, who originally owned the cryptocurrency before and during its, sort of, collapse we saw earlier this month have been airdropped portions of this new cryptocurrency. You know, first, all new cryptocurrencies that are listed have really low levels of liquidity. Now, within the past 24 hours, there's been about a 48% increase. It spiked very quickly within moments of launching and then plummeted by 80% to below $4 within hours of its listing on Friday. Now, the cryptocurrency listed at about $18 per coin on Friday. So there's nothing- there's no new part of that. But importantly, it does not include an algorithmic stablecoin. Now, this is part of the Terra 2.0 ecosystem on its blockchain.
#SEE FINANCE 2.0 UPDATE#
But give us the update on exactly what Luna is and whether or not this 2.0 version is going to make up the wrongs for the many investors that got burned for the first time around.ĭAVID HOLLERITH: Yeah, to recap, Brian, after the catastrophic $40 billion collapse in value of the Terra ecosystem earlier this month, Terra returned Friday, launching its Luna 2.0.
#SEE FINANCE 2.0 MOVIE#
For more on this, let's bring in Yahoo Finance's David Hollerith, who's been watching this story.ĭavid, again, this is just something that seems like it's fit for a movie at some point in time. Failed Luna cryptocurrency is going to reboot as Luna 2.0 apparently. Video TranscriptīRIAN CHEUNG: Terra- apparently it's back. Yahoo Finance’s David Hollerith joins the Live show to discuss Terra’s new edition of Luna, volatility, and the outlook for cryptocurrency.