LUNA token price raised by 2500% after listing on Binance

At its peak, the value of the asset was as high as $25

31.05.2022 - 07:30

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What’s new? On May 31, at 09:00 Moscow time, the new LUNA token was listed on the Binance crypto exchange. The initial price was about $1. Shortly after the listing, the value of LUNA reached a peak of $25 (+2500%), but then began to drop rapidly and by 09:30 it was down to $8,75 per 1 LUNA.

Detailed statistics of the LUNA price on Binance

What is known about Terra 2.0? The launch of the Terra 2.0 blockchain is designed to preserve the project’s ecosystem after the recent collapse caused by the rate collapse of UST and its backing LUNA token to almost zero. The old network was called Terra Classic (LUNC) and the LUNA ticker moved to the new token.

Among the “pre-attack” LUNC holders were distributed 35%, while the “post-attack” received 10% of the tokens. “Pre-” and “post-attack” UST holders received 10% and 15% of the new tokens, respectively. Initially, 30% of the funds were unlocked at launch, with the remaining 70% to be distributed over the course of two years.

What events happened before? On May 28, the Terra 2.0 blockchain was launched with the issue of new LUNA tokens and the listing of the asset on the crypto exchanges Bybit, KuCoin, Gate.io, and Huobi. The asset value reached its peak value on May 28 on the Bybit platform at $30 (+6000% of the initial price).

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