The price of LUNA 2 has risen by 90% in anticipation of a huge Binance airdrop

However, since releasing on the weekend at a starting price of $18.87, the price of LUNA 2 has dropped 56%.

Prior to Binance’s airdrop, the price of LUNA jumped by about 90% overnight to an intraday record of $11.33 but has subsequently dipped down to around $8.26 at the time of this post.

According to CoinGecko statistics, the current valuation of $8.26 marks a 35 percent increase in the last 24 hours.

But, since releasing on the weekend at a starting price of $18.87, the price has dropped 56%.

Individuals tweeted screenshots of the pricing on the MEXC Global exchange reaching as high as $12, with Twitter user Bull bnb spotlighting key spiking moments, noting that the price increased by approximately $2.00 in 30 minutes.

Binance is among the exchanges supporting the Terra ecosystem’s relaunch, and it will initiate a multi-year airdrop campaign to permitted users on Tuesday at 6:00 a.m. UTC, as well as trading the token.

Although the project seeks to re-establish itself as part of Do Kwon’s revival strategy, observers expect that the price will fall even further after the Binance drop goes live.

Related: Will Stepn (GMT) and Terra (LUNA) Safe Investments in May?

Many individuals have turned to Twitter to express their frustration with Terra’s previous airdrops, with Twitter user cryptocevo posting on Monday that:

“I lost 50k on $LUNA and received a $112 airdrop. I’d rather have the whole rug. In the wound, one small airdrop is like a pinch of salt.”

The official terra money Twitter handle stated earlier today that there had been challenges with the airdropping so far and promised to find a solution as soon as possible.

“We’re aware that some people did receive less $LUNA than anticipated from the airdrop, and we’re looking for a solution.” We will share further details once we have acquired whole data,” the tweet read.

Mufasa
Mufasa
Mufasa is the lead writer at CryptoMufasa who likes to share all the latest info on the crypto world with you! Mufasa Enjoys enjoys a good read and recommendations so don't forget to comment on the posts and let him know.

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