LUNA 2 price jumps 90% ahead of big Binance airdrop

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LUNA’s price 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 a soaring moment noting that the price jumped from about 2 dollars in the space of 30 minutes.

Binance is one of many exchanges contributing to the relaunch of the Terra ecosystem and is set to launch a multi-year airdrop campaign for eligible users starting May 31 at 06:00 UTC, while opening the token to the market. negotiation.

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As the project aims to recover as part of Do Kwon’s recovery plan, near-term viewers have predicted that the price will drop further once Binance drops online.

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 a “cryptocevo” tweet on May 30 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, the verified Twitter account “terra_money” acknowledged that there have been issues with the airdrop so far and pledged to find a solution shortly.

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“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. .