Terra Classic (LUNC) The price rose after an announcement from the Binance front. Binance stated in a statement that it will launch new ‘perpetual contracts’ for the token, and this announcement helped the price skyrocket by up to 90%.
This rise reveals that it supports LUNC after Terra 2.0, which was announced as part of bringing the Terra network back to life. LUNC has gained over 90% in the last 24 hours and is trading at an average of $0.0000150.
However, new Terra (Luna) (or LUNA 2.0) price has lost more than 60% after the initial launch. Meanwhile, LUNA Classic (LUNC) price has managed to show some green indexes days after the terrible crash.
Terra LUNA airdrop has received support from many crypto exchanges and service providers. Binance, the world’s largest crypto exchange, announced the listing of the new LUNA token. However, this listing will take place in the “innovation space”. Binance stated that it will issue Terra 2.0 (LUNA) to all authorized LUNC or USTC holders based on the recommended rate. However, it was announced that deposits and withdrawals for the token will open at 05:30 (UTC) on May 31, 2022.
In the latest development, Binance futures has announced that they will launch 1000LUNC perpetual contracts with BUSD margins with up to 20x leverage. Contracts are due tomorrow, 31 May 2022, at 02:45 (UTC).
The LUNC token, whose prices fell completely, saw an increase of over 185% in 24-hour trading volume, which means $256 million in transactions. However, LUNA classic still has a total market cap of around $990 million. Meanwhile, South Korean agencies are intensely investigating the possible cause(s) behind the historic collapse. The participation of crypto exchanges during the lockdown is also being considered.
Terra’s stablecoin TerraClassicUSD while it has risen over 20% and is currently trading at $0.0328.
Meanwhile, the Terra LUNA 2.0 has finally recorded a spike in price after the initial drop. The token has increased by over 13% in the last 24 hours. The LUNA is trading at an average price of $6.6 after falling from the $17 price level.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.