Prices for the Luna Classic (LUNC) rose sharply on Monday after Binance said it would launch new perpetual contracts for the token.
The move indicates support for LUNC even after the launch of Terra 2.0, which saw the airfall of the new LUNA last week. LUNC jumped over 90% in the last 24 hours, trading at an average price of $ 0.0001[ads1]50.
However, the new Terra LUNA prices fell by over 60% after the first launch. Meanwhile, the prices of LUNA Classic (LUNC) showed some green indices days after the terrible collapse.
Binance to issue BUSD-margined 1000 LUNC
Terra LUNA airdrop received support from many crypto exchange platforms and service providers. The world’s largest crypto exchange, Binance, announced the listing of the new LUNA token. However, the statement mentioned putting it in the “innovation zone”. Binance mentioned that it will issue Terra 2.0 (LUNA) to all eligible LUNC or USTC holders based on the proposed ratio. However, deposits and withdrawals for the token will open on 31 May 2022 at 05:30 (UTC).
In the latest development, Binance futures revealed that they will launch the BUSD-marginal 1000LUNC perpetual contracts with up to 20x influence. The editions will be made tomorrow, May 31, 2022, at 02:45 (UTC).
The LUNC token whose prices completely crashed to the ground saw a jump of over 185% in 24-hour trading volume. The amount is 256 million dollars. However, the LUNA classic still has a total market value of around $ 990 million. Meanwhile, the South Korean agencies are intensively investigating the probable cause behind the historic collapse. The involvement of the crypto exchanges during the crash is also under consideration.
New LUNA jumps by 13%
Terra is meant to be stablecoin, TerraClassicUSD also saw a jump of 20% in the meantime. The token is now trading at $ 0.0328.
Meanwhile, Terra LUNA 2.0 finally registered an increase in price from the first fall. The token has increased by over 13% in the last 24 hours. LUNA is trading at an average price of $ 6.6 after falling from the price level of $ 17.
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