While the network did not confirm when the website will be unfrozen, Terra noted:
“Our team has been working around the clock to rectify this issue, but we’ve encountered delays with some third-party responses. We appreciate your continued patience and understanding as we work to resolve this as quickly as possible.”Exchanging hands at $0.4271, LUNA currently trades at lows last seen when the algorithmic stablecoin TerraUSD [UST]in May 2022. After peaking at an all-time high of $19.54 on 28 May 2022, LUNA has since shed 98% of its value.
This meant that LUNA’s sell-offs in the last year have mostly exceeded its accumulation. With distribution still ongoing at press time, the coin’s Relative Strength Index was in the oversold territory at 23.43, while its Money Flow Index was perched at 32.34.With the coin still being trailed by negative sentiment, LUNA’s price might continue to plunge further.