Despite its massive plunge, Terra Luna still remains a project that many market analysts focus on. In the wake of the hard fork, one of the billionaire and at the same time crypto investors was asked about potentially committing funds to Luna 2.0. The answer was emphatic.
An atmosphere full of tension
Mark Cuban is a widely known investor in traditional markets. He is also famous for his statements on crypto markets, as well as for investing a part of his wealth in Bitcoin. It is estimated that he has nearly 4.4 billion dollars in his management. Can part of these funds be invested in Luna 2.0?
Such a question was posed to Cuban and as it turns out, the answer was concise and decisive – “No”.
We recently reported that Do Kwon had decided to hard fork the Luna network and launch the LUNA 2.0 project. You can find out what the fork consisted of from the article titled:
“Learn about Do Kwon’s plans to save Terra Luna from extinction”. At the time of writing this article, the new version of Luna is already officially a working blockchain.
Undoubtedly, the cryptocurrency world will pay a lot of attention to it. Investors, however, are divided – some suggest a great resurgence and a chance for gigantic profits, while others suggest an impending renewed disaster. What is certain is that Luna 2.0 is a test of perseverance, skill and ultimately a test of confidence in Do Kwon. Mark Cuban, however, does not seem to believe in a revival. Just as he did not believe in the first version of Luna. He has made it clear in his statements that he never invested in Terra UST or Luna itself. As he said:
“I’m not involved in it at all. I’ve never owned any of them.”
He goes on to point out that LUNA, in his eyes, has never passed the test of being a sustainable project. This aspect is something he believes is essential, for making an investment:
“Cryptocurrencies are like investing in any other business. You test to see if it’s a sustainable product or service.”
LUNA 2.0 on global exchanges
Major cryptocurrency exchanges have announced support for the new version of the Terra ecosystem. Among them are platforms such as Binance, FTX, Crypto.com, Huobi, Bitfinex, Bybit, Gate.io, Bitrue and Kucoin. Importantly, Binance has indicated that it is working closely with the Terra team on a recovery plan. With such a strong backing generated by the community, it becomes reasonable to hope for Luna to rise from the ashes. But will confidence return? It will be up to investors to decide.