The LUNA 2.0 token is back in the spotlight of market players. A new token that most people thought would sink due to its background which was so impressive to the market but the opposite happened. LUNA 2.0 Terra has risen sharply in the past 24 hours after blockchain developers stated that they would fix certain shortcomings in its airdrop recently.
LUNA jumped 100% and reached a daily high of $ 11.97, rising from a low of $ 5.86. The token at the time of writing is trading at $ 9.80, up 42% in the past 24 hours based on Coinmarketcap.com data.
The LUNA 2.0 surge was triggered shortly after Terra said on its official Twitter holder that they were actively working to ensure the recent airdrop was distributed properly.
The move was as a string of solutions for some LUNA Classic token holders who complained that they received less than they should have received a quantity of airdrop.
In addition, Binance is also reported to have finished distributing airdrops as promised. At the same time, LUNA 2.0 trading has also been launched on the largest crypto trading exchange (Binance) with BUSD and USDT joint trading today.
Make sure to uncheck 'Hide 0 balances' to view your $ LUNA tokens in your Spot Wallets.
Deposits for $ LUNA tokens have been enabled and withdrawals will be open at 6am UTC, May 31 2022.
- Binance (@binance) May 31, 2022
At this point the action taken by Terra is to collect data for airdrop distribution. As previously informed, two groups are eligible to receive the airdrop namely those holding before the collapse of LUNA 1.0 and those holding after. Only those who hold on to the pre -phase will receive a larger quantity.
Binance, along with most other major exchanges has pledged to support the new token. The world’s largest crypto exchange began allowing trading on LUNA on May 31, 2022.
Binance currently considers LUNA as a high risk asset due to high volatility. LUNA has recorded extensive price changes since its launch last week. The token only fell over 60% in the first few hours of its trading. So far LUNA 2.0 is still trading well below its lifetime high of about $ 19.53.
