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Tuesday, February 6, 2024

Terra Launches New Chain Airdropping LUNA 2.0 Cash — Token Worth Slides Over 70% From Value Excessive – Bitcoin Information

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On Saturday, Might 28, 2022, LUNA basic and UST basic holders acquired an airdrop consisting of recent LUNA 2.0 tokens based mostly on two blockchain snapshots. The crypto asset’s first recorded worth at 5 a.m. (ET), was $14.31 per unit and it hit an all-time excessive (ATH) roughly 20 minutes later at $18.87 per LUNA. LUNA has dropped greater than 70% because it traded for $4.20 per unit at 11:00 a.m. on Saturday.

LUNA 2.0 Launches

The brand new LUNA token is now buying and selling because the crypto asset was airdropped to LUNA basic (LUNC) and UST basic (USTC) holders. Presently, there’s a most provide of 1,000,000,000 LUNA cash however the present quantity of tokens in circulation is unknown.

LUNA is presently seeing essentially the most exercise on the buying and selling platform Okx and 24-hour metrics point out LUNA has seen a worth vary between $18.87 and $4.20 per unit. Different exchanges seeing LUNA buying and selling exercise embrace Gate.io, and MEXC International.

“Luna2” and “Luna 2.0” have been trending on social media throughout the previous 24 hours as holders have been receiving their airdrops. A variety of folks have been asking the place they will commerce the brand new LUNA token.

Terra’s co-founder Do Kwon tweeted in regards to the launch on Saturday and stated: “Phoenix-1 mainnet is now dwell and producing blocks – public node companies, wallets and explorers ought to be going dwell shortly.” Kwon additionally stated: “To view your LUNA (or LUNA2 as some exchanges name them) token balances, you solely must log into [Terra Station] and refresh the web page.”

A variety of exchanges have been including help for the brand new LUNA reminiscent of Kraken, Bitrue, Kucoin, Bybit, Nexo, Lbank, Bitfinex, and Bitget. Cryptocompare knowledge signifies that tether USDT instructions an ideal majority of LUNA trades adopted by ETH. The crypto asset can also be paired with the fiat currencies USD, CAD, EUR, PHP, INR, and IDR.

Terra’s new LUNA coin has been a topical dialog on crypto boards and social media. ”Should you preferred shedding all of your cash with LUNA 1.0, you’re going to like shedding all of your cash with LUNA 2.0,” one particular person on Twitter stated on Saturday mocking the two.0 launch. “LUNA 2.0” is historic Egyptian for “we nonetheless want that McNugget meal at desk #5,” one other individual tweeted.

A variety of people talked in regards to the Terra blockchain founder. “Do Kwon sticking round while he will get tarred and feathered day by day is essentially the most alpha factor I’ve ever seen,” a person wrote on Saturday. “Actually simply shopping for luna 2.0 out of respect LMAO,” the individual added. Others weren’t so form to the brand new Terra blockchain mission. “Shopping for Luna 2.0 is the equal of calling again your ex realizing she cheated on you. Have some self-respect,” one other individual opined.

Tags on this story
70% drop, blockchain fork, do kwon, Do Kwon tweets, Boards, gate.io, Kraken, KuCoin, LUNA, LUNA blockchain, Luna Basic, Markets, Okx, Snapshot, Social Media, Cut up, terra (LUNA), Terra co-founder, UST, UST basic

What do you consider the brand new LUNA blockchain mission and the crypto asset shedding 70% hours after the genesis launch? Tell us what you consider this topic within the feedback part beneath.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist residing in Florida. Redman has been an energetic member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 5,000 articles for Bitcoin.com Information in regards to the disruptive protocols rising right now.

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