Terra Launches New LUNA 2.0 Coins Airdropping Channel – Token’s Value Slips Over 70% From High Price CoinBlog

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 a.m. (ET) was $14.31 per unit and it hit an all-time high (ATH) about 20 minutes later at $18.87 per LUNA. LUNA fell more than 70% as it traded at $4.20 per unit at 11:00 a.m. Saturday.

Launch of LUNA 2.0

The new LUNA token is now being traded as the crypto asset was airdropped to holders of LUNA classic (LUC) and UST classic (USTC). Currently, the maximum supply is 1,000,000,000 LUNA coins, but the current number of tokens in circulation is unknown.

LUNA is currently seeing 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. Gate.io and MEXC Global are other exchanges that see LUNA trading activity.

“Luna2” and “Luna 2.0” have been social media trend over the past 24 hours as the holders have received their airdrops. A number of people have been ask where they can redeem the new LUNA token.

The co-founder of Terra Do Kwon tweeted about the launch on Saturday and said, “The Phoenix-1 mainnet is now live and producing blocks – public node services, wallets and explorers are expected to go live shortly.” Kwon also said, “To view your LUNA (or LUNA2 as some exchanges call them) token balances, simply log in to [Terra Station] and refresh the page.

A number of 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 a large majority of LUNA transactions followed by ETH. The crypto asset is also associated with USD, CAD, EUR, PHP, INR, and IDR fiat currencies.

Terra’s new LUNA coin has been the subject of topical conversation on crypto forums and social media. “If you loved losing all your money with LUNA 1.0, you will love losing all your money with LUNA 2.0,” one person on Twitter said Saturday mocking the 2.0 launch. “LUNA 2.0” is Ancient Egyptian for “we still need that McNugget meal at table #5”, another person tweeted.

A number of people have talked about the founder of the Terra blockchain. “Do Kwon staying while tarred and feathered daily is the most alpha thing I have ever seen,” one individual said. wrote Saturday. “Literally, I’m buying Luna 2.0 out of respect for LMAO,” the person added. Others weren’t so kind to the new Terra blockchain project. “Buying Luna 2.0 is like calling your ex back knowing she cheated on you. Have some respect for yourself,” another person opined.

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

Jamie Redman

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

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