​LUNC rate rises by 6% after Binance’s second airdrop

What’s new? Crypto exchange Binance has completed its second distribution of Terra (LUNA) tokens to holders of Anchor Protocol (aUST), Terra Classic (LUNC), and TerraClassicUSD (USTC) lending and borrowing assets. These coins are linked to the Terra blockchain ecosystem that collapsed in May 2022. LUNC reacted to the airdrop with a 6% increase. The asset is trading at $0,000135 as of December 22, 13:50 UTC.

Binance Blog

What is known about the airdrop? Users can refer to “Pre-Attack” and “Post-Attack” snapshot data to check their eligibility for the distribution, according to the Binance blog. According to the plan, the exchange will distribute the remaining tokens starting from December 2022 or June 2023, depending on the situation. This will take place over 24 or 48 months. However, US individuals and entities, as well as sanctioned countries, cannot participate in the airdrop.

In the future, the exchange will not publish notes on the completion of similar coin distributions.

LUNC and USTC became the results of the Terra 2.0 blockchain launch, designed to preserve the project’s ecosystem after the collapse of the algorithmic stablecoin UST and the LUNA token that backs it almost to zero. After the hard fork, the old network was named Terra Classic (LUNC), and the LUNA and UST tickers switched to the new tokens. LUNC holders “Pre-Attack” were allocated 35%, and the holders of the asset “Post-Attack” received 10% of the tokens. UST holders “Pre-Attack” and “Post-Attack” received 10% and 15% of the new tokens, respectively.

In September, analysts at Santiment said that LUNC has a chance to get the “meme king crown,” displacing Dogecoin (DOGE) and Shiba Inu (SHIB). Experts believe that LUNC’s price and volume charts are very similar to DOGE’s performance a year ago. In October, the Terra Classic community demanded the Coinbase exchange to list LUNC, stating that “the Terra Classic ecosystem revival is in full flow.”

In December, New York prosecutors launched an investigation into the involvement of Sam Bankman-Fried, founder and former CEO of the bankrupt FTX exchange, in the Terra collapse. Authorities intend to investigate whether Bankman-Fried may have manipulated USTC and LUNC prices for the benefit of entities under his control, including FTX and the trading firm Alameda Research.