Terra’s LUNA 2.0 price explodes 50% as Binance, Gate.io, KuCoin, Kraken list the token


  • Terra’s LUNA 2.0 price jumped 50% overnight in response to listing on cryptocurrency platforms Binance, Gate.io, KuCoin, Kraken and others. 
  • LUNA 2.0 price surge started hours before listing on world’s largest cryptocurrency exchange, Binance. 
  • Terra users received lower quantity of LUNA 2.0 airdrop than expected, developers actively working on solution. 

Terra’s LUNA 2.0 price recovered from its slump with new listing announcements from cryptocurrency exchanges, wallets and futures platforms. Luna Classic (LUNC) and TerraUSD (UST) holders have raised concerns about receiving less LUNA from the airdrop than expected, and the Terra team is currently investigating the issue. 

Also read: Terra’s LUNA 2.0 airdrop: its starting price in exchanges like Binance

LUNA 2.0 price explodes after listing across exchanges 

LUNA 2.0 price is nearly 54% away from its debut price of $17.80 on May 28. Following the initial slump, LUNA made a massive comeback after listing announcements across exchange platforms and spot and futures markets. LUNA 2.0 posted 50% gains overnight, as Do Kwon retweeted listing announcements from Bybit, Gate.io, Binance, Kucoin, Huobi, Kraken and OKX. On Binance, LUNA 2.0 is listed in the Innovation Zone, a space for tokens that pose a higher risk than others. 

Binance announcement for LUNA listing in innovation zone

Binance announcement for LUNA listing in Innovation Zone

After the colossal crash of Terraform Labs’ sister tokens LUNA (now Luna Classic, LUNC) and TerraUSD (UST), the CEO and co-founder of Terra unveiled a revival plan to salvage the ecosystem. LUNA 2.0, the revamped version of the LUNA coin, was launched and linked to a new blockchain. LUNA 2.0 price plummeted after its airdrop, with a consistent drop in the token’s price since the hard fork, before it rallied nearly 23% in the last hours. 

Binance and leading cryptocurrency exchanges support Terra’s LUNA 2.0

Major cryptocurrency exchanges pledged support for Terra’s LUNA 2.0 airdrop and listing across their platforms. Perpetual futures, spot and derivatives trading in LUNA 2.0 is live on several platforms. 

Together with crypto heavyweights like Binance and Kraken putting their weight behind LUNA 2.0, Leap wallet, Guarda wallet and Atomicwallet.io also support the token. Large players in the crypto wallet space, like MetaMask and Trust wallet, are yet to announce support for LUNA 2.0. 

Trust wallet, which supports 66 blockchains, recently called its community to vote on a governance proposal, choosing between the Ronin chain and Terra. Since both blockchains have suffered from an attack of different magnitudes that have negatively influenced their token prices, Trust wallet asked the community to identify the chain where the positives outweigh the cost of prioritizing integration. 

Governance proposal on Trust wallet

Governance proposal on Trust wallet

The result of the proposal was a higher (73.88%) demand for Ronin integration, over Terra’s LUNA 2.0 token

Terra’s LUNA 2.0 airdrop lower than expected 

Eligible Terra’s LUNA (now LUNA Classic, LUNC) and UST holders have raised concerns regarding a lower airdrop of LUNA 2.0 than expected. The team behind LUNA 2.0 is gathering more information from the relevant snapshots and the blockchain, and revealed that the issue is currently being investigated. 

The Terraform Labs team is aware that some users are awaiting an actively working solution for receiving lower LUNA 2.0 tokens that they are eligible for. Terra’s team has asked users to stay tuned for more information on the issue. 

Is it good to buy Terra’s LUNA 2.0?

Analysts at FXStreet have evaluated the Terra LUNA 2.0 price chart and the token’s potential after its relaunch. In the following video, Akash Girimath, a leading cryptocurrency analyst at FXStreet reveals whether it is profitable to buy Terra’s LUNA 2.0 tokens. 

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

DOGE holders may sell if it rises above key accumulation zone

DOGE holders may sell if it rises above key accumulation zone

DOGE will reclaim a key level if it rises by 5%, and traders will likely sell as they break even. DOGE's social volume has reached its lowest level in the past year. DOGE has underperformed other top meme coins year-to-date.

More Dogecoin News

SEC vs. Coinbase: Coinbase attorney's arguments fail to convince judge

SEC vs. Coinbase: Coinbase attorney's arguments fail to convince judge

SEC vs. Coinbase hearing on Thursday addresses the exchange’s demand that Chair Gary Gensler should testify. Coinbase Attorney Kevin Schwartz’s arguments fail to convince Judge Katherine Polk Failla.

More Cryptocurrencies News

Ethereum on-chain activity reveals mixed signals amid declining inflation

Ethereum on-chain activity reveals mixed signals amid declining inflation

Ethereum could rally in Q3 following reduced US inflation and launch of spot ETH ETFs. Ethereum's on-chain activity shows mixed sentiment among investors. Bearish exhaustion candle could signify a downturn for ETH if SEC delays ETH ETF approval.

More Ethereum News

Biden's veto stands, banks unable to  provide custody services for crypto

Biden's veto stands, banks unable to  provide custody services for crypto

US House failed to muster a two-thirds vote to overturn President Biden's veto of Joint Resolution 109. Several Democrats failed to support a repeal of the President's veto despite the increasing role of the crypto industry in the upcoming election.

More Cryptocurrencies News

Bitcoin: BTC sinks under $55,000 as Mt Gox prepares payment to creditors

Bitcoin: BTC sinks under $55,000 as Mt Gox prepares payment to creditors

Bitcoin (BTC) price is having its worst week of the year, influenced by selling activity among BTC miners and heavy transfers of Bitcoins to exchanges by Mt Gox and the German Government. 

Read full analysis

BTC

ETH

XRP