Luna Price: Luna 2.0 falls 40.7% after Do Kwon's arrest warrant

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Luna 2.0 price

Luna 2.0 holders are eagerly following Luna 2.0's price fluctuations.

After South Korean authorities issued Terralabs founder Do Kwon with an arrest warrant, many Luna speculators are unsure of Luna 2.0's future.

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With the Luna crypto crash still very much at the front of many Luna holders’ minds, what do we know about the price of Luna 2.0.

Luna 2.0 Price and News

After a relatively stable time for Luna 2.0, the price dramatically soared on September 9. Previously sitting at around $2, it jumped 203% in 24 hours to $6.60 on September 10.

Luna 2.0 is now priced at $1.62, up 2.0% in the last 24 hours. The token is down 85.5% from its all-time of $18.87 but is up 78.2% from its all-time low of $1.53 on August 29. By market capitalization, Luna 2.0 is the 120th largest cryptocurrency.

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Meanwhile, Terra Luna Classic has undergone similar price shifts. Luna Classic's price is up 6.5% in the last 7 days. Terra Luna Classic is the 43rd most valuable cryptocurrency in terms of market capitalization.

In recent Luna 2.0 news, Luna's founder, Do Kwon, has responded to media accusations surrounding his arrest warrant. Do Kwon has also recently been issued a red notice by Interpol and is now being pursued by the South Korean judicial authorities.

Luna 2.0 Market Cap

Many holders will look to Luna 2.0's market cap to get a more accurate idea of where it sits in relation to other cryptocurrencies.

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The current Luna 2.0 market cap is $270 million, making it the 120th largest cryptocurrency. As a result of continued declines and Terra Luna Classic's resurgence, LUNC has flipped Luna 2.0.

While 1 billion tokens will be minted for Luna 2.0, minting will only happen gradually. Luna 2.0's vesting period means the number of tokens in active circulation will never reach 1 billion. Some whales holding large amounts may need to wait over a year before unlocking their vested Luna.

With a new V22 update for Luna Classic and advancements in the Luna Classic burn tax, which is now live on the network, users are anticipating a decent price surge for Luna 2.0 sometime soon.

Find out how to stake Luna Classic and Luna 2.0.