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Is crypto finally recovering?
The price of collapsed cryptocurrency Luna skyrocketed over the weekend, only days after falling to zero
April saw Luna trading at about 100 dollars per Luna, but the crash had a ripple effect on the stable coin UST.
The changing algorithm pushed Bitcoin’s price down by over 20 per cent.
UST and Luna are now working together on plans to revive the two companies, causing the Luna price to surge over one thousand per cent.
The Chief Executive of UST says they “must reconstitute the chain to preserve the community and the developer ecosystem”.