The relaunch did not receive a positive response from the market.
Earlier this month, the debacle of LUNA and UST increased panic among crypto investors.
With an ambition to recover the losses that occurred after the LUNA fiasco, the team behind Terra launched LUNA 2.0. However, the crypto asset took a major hit immediately after the launch.
Over the weekend, the value of LUNA 2.0 dropped by almost 75%. Despite a marginal recovery, the digital currency is trading near $6, compared to an opening price of more than $18. LUNA’s relaunch was an important part of the company’s revival plan.
Do Kwon, the Co-Founder and CEO of Terraform Labs, revealed details about LUNA 2.0 in a series of tweets on Saturday. “Pheonix-1 mainnet is now live and producing blocks - public node services, wallets and explorers should be going live shortly. To view your LUNA, (or LUNA 2.0) as some exchanges call them, token balances, you only need to log into the station and refresh the page. For new users, create a station wallet with the same ledger, and the station should walk you through the remaining steps,” Kwon said.
LUNA 2.0 Listing
After the launch, several digital exchanges around the world announced the listing of LUNA 2.0. On Saturday, Binance announced that the platform will list LUNA 2.0 in its Innovation Zone. The Innovation Zone of Binance is the company’s dedicated trading zone where users are able to trade new tokens that may have increased volatility and pose a higher risk than other tokens.
"Binance will list Terra 2.0 (LUNA) in the Innovation Zone and will open trading for LUNA/USDT and LUNA/BUSD trading pairs at 2022-05-31 06:00 (UTC),” the exchange mentioned in an official announcement.
Recently, Gate.io announced the completion of the LUNA 2.0 airdrop to LUNC and USTC holders. “Gate.io has now distributed LUNA2.0 (LUNA) airdrop tokens to all eligible users based on their balances at the pre-attack snapshot (taken on May 7, 15:00 UTC) and the post-attack snapshot ( taken on May 26, 16:30 UTC) respectively,” Gate.io noted.
With an ambition to recover the losses that occurred after the LUNA fiasco, the team behind Terra launched LUNA 2.0. However, the crypto asset took a major hit immediately after the launch.
Over the weekend, the value of LUNA 2.0 dropped by almost 75%. Despite a marginal recovery, the digital currency is trading near $6, compared to an opening price of more than $18. LUNA’s relaunch was an important part of the company’s revival plan.
Do Kwon, the Co-Founder and CEO of Terraform Labs, revealed details about LUNA 2.0 in a series of tweets on Saturday. “Pheonix-1 mainnet is now live and producing blocks - public node services, wallets and explorers should be going live shortly. To view your LUNA, (or LUNA 2.0) as some exchanges call them, token balances, you only need to log into the station and refresh the page. For new users, create a station wallet with the same ledger, and the station should walk you through the remaining steps,” Kwon said.
LUNA 2.0 Listing
After the launch, several digital exchanges around the world announced the listing of LUNA 2.0. On Saturday, Binance announced that the platform will list LUNA 2.0 in its Innovation Zone. The Innovation Zone of Binance is the company’s dedicated trading zone where users are able to trade new tokens that may have increased volatility and pose a higher risk than other tokens.
"Binance will list Terra 2.0 (LUNA) in the Innovation Zone and will open trading for LUNA/USDT and LUNA/BUSD trading pairs at 2022-05-31 06:00 (UTC),” the exchange mentioned in an official announcement.
Recently, Gate.io announced the completion of the LUNA 2.0 airdrop to LUNC and USTC holders. “Gate.io has now distributed LUNA2.0 (LUNA) airdrop tokens to all eligible users based on their balances at the pre-attack snapshot (taken on May 7, 15:00 UTC) and the post-attack snapshot ( taken on May 26, 16:30 UTC) respectively,” Gate.io noted.
Bilal Jafar holds an MBA in Finance. In a professional career of more than 8 years, Jafar covered the evolution of FX, Cryptocurrencies, and Fintech. He started his career as a financial markets analyst and worked in different positions in the global media sector. Jafar writes about diverse topics within FX, Crypto, and the financial technology market.
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Register now to secure your spot: https://bit.ly/3JbUpCK
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