LUNA 2 price jumps 90% ahead of big Binance airdrop

0 0 Tuesday, May 31, 2022 Edit this post

The price of Terra (LUNA) briefly spiked around 90% overnight to an intraday high of $11.33 before Binance’s airdrop, but has since falle...



The price of Terra (LUNA) briefly spiked around 90% overnight to an intraday high of $11.33 before Binance’s airdrop, but has since fallen back to around $8.26 at the time of writing. .

At current prices, according to data from CoinGecko, the rise to $8.26 represents a gain of 35% in the last 24 hours. Overall, however, the price is down 56% since its weekend launch to an opening price of $18.87.

Community members posted screenshots of the price soaring as high as $12 on the MEXC Global exchange, with Twitter user bull_bnb highlighting some soaring moments noting that the price jumped around 2 $.00 within 30 minutes.

Binance is one of many exchanges helping the relaunch of the Terra ecosystem and is set to launch a multi-year airdrop campaign to eligible users starting Tuesday at 6:00 UTC, while opening the token for trading.

As the project aims to recover under Do Kwon’s recovery planshort-term spectators predicted the the price will drop further once the Binance drop goes live.

Related: Luna Classic (LUC) Pricing Error Leads to Mirror Protocol Exploit

Many investors have taken to Twitter to vent their anger over Terra’s other lackluster airdrops so far, with Twitter user cryptocevo tweeting on Monday that:

“Lost 50k on $LUNA and got a $112 airdrop Prefer full stack. That little airdrop is like extra needle salt in the wound.

Earlier today, terra_money’s verified Twitter account acknowledged that there have been issues with the airdrop so far and pledged to find a fix shortly.

“We are aware that some have received less LUNA from the airdrop than expected and are actively working on a solution. More information will be provided when we gather all the data, so stay tuned,” the tweet read. .