7.2 C
January 29, 2023
Image default
News Feed

Terra's New Luna Token Surges 40% After Itemizing on Binance

Terra’s newly minted Luna token (LUNA) rallied by 39.41% on Tuesday after the token was listed on Binance.

  • On the time of writing, Luna 2 was buying and selling at $8.18 with a self-reported circulating provide of 210 million, giving it a market capitalization of $1.8 billion, in accordance with CoinMarketCap.
  • The token was launched on a brand new blockchain dubbed Terra 2 following the de-peg of algorithmic stablecoin TerraUSD (UST).
  • Traders that held UST or Luna earlier than the depeg, in addition to those that bought both asset following the depeg, have been airdropped the brand new token with various ranges of distribution.
  • The outdated Luna token, which is buying and selling at $0.0002, has been re-branded Luna Basic (LUNC). The brand new token was a part of a revival plan for Terra.
  • The revival plan, though handed by Terra’s community validators, was pushed dwell at the same time as outcomes from a preliminary on-line ballot on a tough fork plan discovered minimal backing amongst neighborhood members.
  • Some 92% of over 6,220 voters on a beforehand held on-line ballot voted in opposition to the change, with the most well-liked responses calling for “no fork,” as reported.
  • A number of exchanges supported the airdrop of the brand new token over the weekend with KuCoin and ByBit being the primary to record it.
  • Luna 2 initially rose to as excessive as $30 on ByBit earlier than dropping greater than 80% of its worth in lower than two hours.

Supply hyperlink

Related posts

Twitter Halts Work on Crypto Pockets: Report; Dogecoin Drops 4%


Ex-Deutsche Telekom Workforce Launch Liquid Staking Division at Crypto Custodian Finoa


With Bitwise and Grayscale Choices Looming, Spot Bitcoin ETF Approval Hopes Are Working Low