Home » Terra Luna 2.0 Price Drops 68% After Launch, Airdrop Complete

Terra Luna 2.0 Price Drops 68% After Launch, Airdrop Complete

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TerraLuna 2.0 was officially released today. With the launch of the new chain and Airdrop completed, new LUNA tokens have been traded and tracked on several exchanges such as KuCoin, Bybit, Kraken, MEXC, OKX and Bitrue. More exchanges are scheduled to participate in the future.

TerraLuna 2.0 new chain launch completed

As of 7 hours ago, LUNA 2.0 is up and running and trading is fine. The first block of ID Phoenix-1’s new chain was officially created on May 28, 2022 at 6 am (UTC). This marks the birth of a new protocol.

Note that the LUNA is on the new chain, not the fork. This means that all dApps on the old chain will need to be restarted with the new protocol.

Eligible users will receive Airdrop and can immediately trade 30% of their balance. The remaining tokens will vest in 2 years and the first batch will be unlocked in 6 months. In addition, users can bet Airdropped LUNA tokens to earn rewards. Staking rewards can be charged at any time and traded without restrictions.

According to CoinMarketCap, LUNA is only tracked on KuCoin, Bybit, MEXC, OKX, and Bitrue, but some exchanges will be added soon. These exchanges include Gate.io, Bitget, LBank, Bitfinex, FTX and more.

As we expected Previous Terra Luna 2.0 article, Terra Luna drops immediately when a user dumps an Airdropped token and tries to recover some of the loss. As Paul Brabus said yesterday:

“If you want to take advantage of the new Terra Luna chain, the best option is to wait a few days for the price to stabilize when the new chain launches, as users are likely to continue dumping LUNA 2.0 Airdropped tokens over the weekend next week. , The market is much more stable, so if you’re trying to catch the downturn, a reasonable time frame will be sometime next week. “

Terraruna 2.0 Price

With a 70% price cut, LUNA 2.0 is still trading at a relatively high level, with a current price of $ 5.76. LUNA manages to exceed its $ 1 billion market capitalization, which is currently valued at $ 1.2 billion.

Please note that the price of LUNA may continue to fall, as current market activity is still relatively low and the 24-hour trading volume is $ 93 million. As more users wake up and start dumping Airdrop, the market may continue to fall before attempting a rebound.

In addition, Luna Classic (LUNC) has also shown significant bearish momentum, dropping more than 26% in the last 24 hours and currently trading at $ 0.0001004 with a market capitalization of $ 656 million.

In addition, the Terra Classic USD (USTC) has also lost value and is currently trading at $ 0.01889, down more than 47% in the last 24 hours and has a market capitalization of $ 212 million. As mentioned yesterday, the new LUNA tokens are on a new chain without stablecoin, so USTC may continue to decline over the next few weeks.

Traders will probably throw away Airdropped tokens, so this weekend will be tough for LUNA. However, the remaining tokens will not be unlocked for 6 months, so the new LUNA tokens will have room to build a community and reputation, encouraging users to buy tokens and preventing them from dropping further. can do.

Regardless of the outcome, it is clear that LUNA is one of the most robust communities in cryptocurrencies, and the speed with which we were able to launch a new chain opens up the tremendous long-term potential of LUNA 2.0. I’m telling you.

Disclosure: This is not trading or investment advice. Be sure to do a survey before buying cryptocurrencies.

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