Luna coin is the native token of the Terra blockchain platform and has attracted widespread attention in the cryptocurrency field. Basic information Luna coin was invented by Korean human rights Daoheng and was launched for trading in May 2019. It is the governance token of the Terra protocol. Users pledge Luna to validators, who record and verify transactions on the blockchain, and users can exchange them for rewards in the form of transaction fees. Technical features A dual token system is adopted, namely LUNA and UST. UST is a stablecoin that maintains a 1:1 exchange ratio with the US dollar, and its stability is achieved through an algorithm. When the demand for UST increases, users burn LUNA to mint UST; when the demand decreases, UST is destroyed to obtain LUNA, thereby maintaining the stability of the UST price. Market performance After the launch in 2019, the coin price has been less than US$0.5 for a long time, and the annual increase in 2021 exceeded 800%. In April 2022, it reached an all-time high of US$119.18, and the circulation market value ranking once ranked fifth in the entire network. However, it began to fall on May 8, 2022. Due to the depegging of UST stablecoin, the price of Luna coin plummeted and almost returned to zero on May 12. On May 25, the Terra blockchain ecosystem announced the creation of a new blockchain and the issuance of a new Luna coin. The original Luna coin code was changed to "LUNC". Subsequent development In November 2024, according to foreign media reports, Terraform Labs and its CEO Do Kwon reached a settlement with the SEC. LUNA once rose by nearly 40%, breaking through $0.8, and then fell back. As of the early morning of December 5, 2024, LUNA had risen by more than 19.01% in the past 24 hours, with a price of $1.02, a total trading volume of $233 million, a total market value of $594 million, and a market value ranking of 60th. However, the cryptocurrency market is high-risk, and Luna coin has experienced drastic fluctuations, so investment decisions need to be cautious.