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Business

Terra launches new chain Airdropping LUNA 2.0 coins – token value slips over 70% from high price – Bitcoin news




On Saturday 28 May 2022, LUNA classic and UST classic holders received an airdrop consisting of new LUNA 2.0 tokens based on two blockchain snapshots. The crypto asset’s first recorded value at 05.00 (ET) was $ 14.31 per unit, reaching a record high (ATH) about 20 minutes later at $ 18.87 per LUNA. LUNA has fallen more than 70% when it was traded for $ 4.20 per unit at 1[ads1]1:00 on Saturday.

LUNA 2.0 is launched

The new LUNA token is now traded as the crypto asset was sent to LUNA classic (LUNC) and UST classic (USTC) holders. At present, there is a maximum supply of 1,000,000,000 LUNA coins, but the current amount of tokens in circulation is unknown.

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

“Luna2” and “Luna 2.0” have been trending on social media during the last 24 hours as holders have received their airdrops. A number of people have been traces where they can trade the new LUNA token.

Terrace co-founder Do Kwon twitret about the launch on Saturday and said: “The Phoenix-1 mainnet is now live and producing blocks – public node services, wallets and explorers should go live soon.” Kwon also said: “To see your LUNA (or LUNA2 as some exchanges call them) token balance, you just need to log in [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. Cryptocompare data indicate that tether USDT commands a large majority of LUNA trades followed by ETH. The crypto asset is also linked to the fiat currencies USD, CAD, EUR, PHP, INR and IDR.

Terra’s new LUNA coin has been a hot topic on crypto forums and social media. “If you enjoyed losing all your money with LUNA 1.0, you’ll love losing all your money with LUNA 2.0,” a person on Twitter so on Saturday to mock the 2.0 launch. “LUNA 2.0” is ancient Egyptian for “we still need that McNugget meal at table # 5,” another person twitret.

A number of people talked about the Terra blockchain founder. “Making Kwon stay around while being tarred and feathered daily is the most alpha thing I’ve ever seen,” one person wrote on Saturday. “Literally just buying luna 2.0 out of respect for LMAO,” the person added. Others were not so kind with the new Terra blockchain project. “Buying Luna 2.0 is like calling your ex back and knowing that she was unfaithful to you. Have some self-respect, “another person thought.

Tags in this story

70% fall, 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 cryptocurrencies that lose 70% hours after the launch of genesis? Tell us what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is a news editor at Bitcoin.com News and a financial engineering journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols that are emerging today.




Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or recommendation of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly liable for any damage or loss caused or alleged to have been caused by or in connection with the use of or reliance on the content, goods or services mentioned in this article.





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