Last May, the crypto market faced one of the unfortunate episodes namely the tragedy of the collapse of the Terra (LUNA) and TerraUSD (UST) cryptocurrencies. This causes both types of tokens to fall down almost to the bottom. The reserves kept had to be used for repairs but it failed. Billions of dollars are lost in the market because of that. Not least that, investors are among the most affected so that some are facing depression.
After a few weeks of thinking about finding a way out, Terra finally decided to proceed with the recovery plan which is to create a ‘new’ Terra known as LUNA 2.0 (LUNA). While LUNA 1.0 known as Luna Classic (LUNC) operates on the previous network.
Last weekend, the new LUNA made its ‘debut’ on several major crypto exchanges. LUNA was broadcast live and traded following the successful launch of the Terra 2.0 protocol yesterday even though the crypto market is still turbulent with price fluctuations.
How is the performance and acceptance of the new LUNA among market players? Is it like the hype that this new LUNA won’t get a direct response?
Starting last Saturday, several crypto exchanges have already started trading LUNA crypto. At Bybit, LUNA was traded starting at $ 0.5 and soaring up to $ 30 within minutes. Soon after, it started falling and soared back to around $ 4 and ended up playing at a $ 6 trade.
However, it should be noted that prices have changed a lot on different crypto exchanges and this is associated with trading volume. Data from CoinMarketCap shows that LUNA’s crypto assets generated around $ 230 million in trading volume over the past 24 hours. Where 50% of it is donated from KuCoin.
In addition, Binance, which is a leading crypto exchange with a set trading volume, will launch LUNA trading on May 31. It is reported that most LUNA holders have already started receiving their airdrops.
At the time of writing LUNA traded $ 6.52, up 7% in 24 hours.
