Terra's LUNA 2.0 crashes 88% after the airdrop
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Terra has successfully distributed the new LUNA tokens to market participants who held LUNA Classic (LUNAC) and TerraUSD (UST). Data from cryptocurrency exchange Bybt shows that LUNA opened at $0.5 and, within a few minutes, surged to a high of $30 before plummeting by more than 88% to $3.5.
LUNA 2.0 has partially recovered from the crash and trades at $6.2 at the time of writing.
LUNA 15-min chart
LUNA 2.0 was rumored to cost between $30 and $50 upon launch by some members of the Terra community. The recent price action has caused a furor among investors who continue suffering from the losses incurred following Terra's LUNA and UST death spiral.
Rug me once; shame on you. Rug me twice; shame on me. Rug me twice and convince me to burn my money; now I’m just completely fukn redacted.
— Galois Capital (@Galois_Capital) May 25, 2022
Rug me once; shame on you. Rug me twice; shame on me. Rug me twice and convince me to burn my money; now I’m just completely fukn redacted.
— Galois Capital (@Galois_Capital) May 25, 2022
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