Terra Launches New LUNA 2.0 Coin Airdrop Chain: Token Value Drops Over 70% From Peak Price – Bitcoin News

On Saturday, May 28, 2022, LUNA classic and UST classic holders received an airdrop consisting of new LUNA 2.0 tokens based on two blockchain snapshots. The first recorded value of the crypto asset at 5 am (ET) was $14.31 per unit and it reached an all-time high (ATH) about 20 minutes later at $18.87 per LUNA. LUNA is down more than 70%, trading at $4.20 per unit at 11:00 am on Saturday.

Launch of MOON 2.0

The new LUNA token is now trading as the crypto asset has been airdropped to LUNA classic (LUNC) and UST classic (USTC) holders. Currently, there is a maximum supply of 1,000,000,000 LUNA coins, but the current number of tokens in circulation is unknown.

LUNA is currently experiencing the most activity on the Okx trading platform and 24-hour metrics indicate that LUNA has seen a price range between $18.87 and $4.20 per unit. Other exchanges that see trading activity on LUNA include Gate.io and MEXC Global.

“Luna2” and “Luna 2.0” have been social media trend for the last 24 hours, as headlines have been receiving their airdrops. Several people have been asking where they can exchange the new LUNA token.

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

Several exchanges have added support for the new LUNA, such as Kraken, Bitrue, Kucoin, Bybit, Nexo, Lbank, Bitfinex, and Bitget. Data from Cryptocompare indicates that tether USDT commands the vast majority of LUNA trades followed by ETH. The crypto asset is also combined with fiat currencies USD, CAD, EUR, PHP, INR and IDR.

Terra’s new LUNA coin has been a topic of conversation on crypto forums and social media. “If you liked losing all your money on LUNA 1.0, you’ll love losing all your money on LUNA 2.0,” said one person on Twitter. said on Saturday teasing the 2.0 release. “LUNA 2.0” in ancient Egyptian means “we still need that McNugget meal at table 5”, another person tweeted.

Several people talked about the founder of Terra blockchain. “Having Kwon stick around while being tarred and feathered every day is the most alpha thing I’ve ever seen,” said one individual. wrote on Saturday. “I literally just bought luna 2.0 out of respect for LMAO,” the person added. Others were not so kind to Terra’s new blockchain project. “Buying Luna 2.0 is the equivalent of calling your ex back knowing he cheated on you. Have a little self-respect,” another person opined.

Tags in this story
70% drop, blockchain fork, do kwon, do kwon tweets, forums, gate.io, Kraken, KuCoin, LUNA, LUNA blockchain, Luna Classic, Markets, Okx, Snapshot, Social Media, Split, terra (LUNA) , Terra co-founder, UST, UST Classic

What do you think about the new LUNA blockchain project and the shedding of crypto assets 70% hours after the launch of genesis? Let us know what you think about this topic in the comments section below.

jamie redman

Jamie Redman is the news lead at Bitcoin.com News and a fintech journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source, and decentralized applications. Since September 2015, Redman has written over 5,000 articles for Bitcoin.com News on the disruptive protocols emerging today.

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