Terra Launches New Chain Airdropping LUNA 2.0 Coins — Token Value Slides Over 70% From Price High – Bitcoin News

On Saturday, May 28th, 2022, holders of LUNA and UST Classic received an airdrop that consisted of new LUNA2.0 tokens based upon two blockchain snapshots. The crypto asset’s first recorded value at 5 a.m. (ET), was $14.31 per unit and it hit an all-time high (ATH) roughly 20 minutes later at $18.87 per LUNA. LUNA dropped over 70%, trading at $4.20 an unit on Saturday morning.

Launch of LUNA 2.0

The new LUNA coin is trading now as it was airdropped to LUNA and UST holders. Presently, there’s a maximum supply of 1,000,000,000 LUNA coins but the current amount of tokens in circulation is unknown.

Currently, LUNA sees the highest activity on Okx. 24-hour metrics show that LUNA saw a range of prices between $18.87 to $4.20 per unit. Gate.io and MEXC Global also see LUNA trading activity.

“Luna2” and “Luna 2.0” have been trending on social mediaDuring the last 24 hours, airdrop holders received their airdrops. Numerous people have received their airdrops. askingThey can also trade the new LUNA coin.

Terra’s co-founder Do Kwon tweeted about the launch on Saturday and said: “Phoenix-1 mainnet is now live and producing blocks – public node services, wallets and explorers should be going live shortly.” Kwon also said: “To view your LUNA (or LUNA2 as some exchanges call them) token balances, you only need to log into [Terra Station] and refresh the page.”

A variety of exchanges are now supporting the new LUNA. These include Kraken and Bitrue as well as Kucoin, Kucoin and Bybit. The Cryptocompare data shows that tether USDT has the largest number of LUNA trades, followed by ETH. Also, the crypto asset can be used in conjunction with fiat currencies like USD, CAD or EUR as well as PHP, INR and IDR.

Terra’s new LUNA coin has been a topical conversation on crypto forums and social media. ”If you liked losing all your money with LUNA 1.0, you’re going to love losing all your money with LUNA 2.0,” one individual on Twitter saidMocking the 2.0 launch on Saturday “LUNA 2.0” is ancient Egyptian for “we still need that McNugget meal at table #5,” another person tweeted.

Many people spoke out about Terra blockchain founder. “Do Kwon sticking around whilst he gets tarred and feathered daily is the most alpha thing I’ve ever seen,” an individual wroteSamstag. “Literally just buying luna 2.0 out of respect LMAO,” the person added. The Terra blockchain project was not received well by others. “Buying Luna 2.0 is the equivalent of calling back your ex knowing she cheated on you. Have some self-respect,” another person opined.

Let us know your thoughts on the new LUNA cryptocurrency project and crypto asset shedding 70% just hours after its genesis launch. Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman is the News Lead for Bitcoin.com News. He also lives in Florida and works as a journalist covering financial technology. Redman joined the cryptocurrency community in 2011 and has been actively involved since then. Redman is passionate about Bitcoin and open-source codes. Redman has contributed more than 5,000 articles to Bitcoin.com News since September 2015. These articles are about disruptive protocols that are emerging.