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.
In 30 minutes you apes pumped it 2 more dollars am loving it 👀 I love you do Con. @crypto_bitlord7 you should've nought with me bro 😂 this new $luna on fire 🔥 https://t.co/Y9n6HT2mY6 pic.twitter.com/s2TJRYrl4J
— Bull of Binance Street (@bull_bnb) May 30, 2022
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.
📣 Attention $LUNA airdrop recipients 📣
We are aware that some have received less $LUNA from the airdrop than expected & are actively working on a solution.
More information will be provided when we have gathered all of the data, so stay tuned.
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) May 30, 2022