Terra back from the dead? LUNA price increases 300% in September

The incredible LUNA rally unfolded amid a flurry of positive and negative events, while technical data suggests that 'a fix is ​​coming.

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Terra became a controversial blockchain project after its native LUNA token and stablecoin TerraUSD (UST) collapsed in May. But its recent gains are hard for cryptocurrency traders to ignore.

LUNA rising from the dead?

LUNA's performance in September is particularly interesting, given that it is up more than 300% since the beginning of the month after a long period of sideways consolidation.

LUNA / USDT daily price chart. Source: TradingView

It is essential to note that LUNA also trades with the LUNA2 ticker on several exchanges.

In detail, Terraform Labs, the company behind the Terra project, split the old chain into Terra Classic (LUNC) and Terra LUNA 2.0 (LUNA/LUNA2).

Related: Do Kwon Allegedly Hired Lawyers in South Korea to Prepare Terra Investigation

Terra Classic is the original version of the Terra blockchain, while Terra LUNA 2.0 was created as part of a regeneration strategy by Terraform Labs founder Do Kwon. In doing so, Kwon and his team periodically airdrop LUNA2 tokens to users affected by Terra's collapse.

LUNA/LUNA2 started pumping on September 9, the day many things happened in the Terra ecosystem.

First, Terra Classic (LUC) passed governance proposals to add a 1.2% tax to all of its on-chain transactions that day. In other words, the proposals...