After skyrocketing last week, LUNA – the new token from the Terra blockchain that had spectacularly collapsed in May – made its way down to Earth, falling as much as 33% on Monday.
The token was trading around $4.20 as of press time. It had reached $7.60 on Friday, an all-time high since June.
The market capitalization fell to $542 million, cryptocurrency data aggregator CoinGecko shows.
Howard Greenberg, cryptocurrency educator at Prosper Trading Academy, told CoinDesk last week the surge in LUNC's price made it look like "a meme coin at this point.”
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