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Terra off to a rocky start – LUNA2 listed on the stock exchanges

 


LUNA2 opens a new chapter in the young history of Terra. Two snapshots were used to record who would get the airdrop. Only part of the new LUNA tokens, which run under the ticker LUNA2 on some exchanges, will be distributed directly. The majority will be controlled via a distribution plan over the next two and a half years. Depending on which category a beneficiary falls into, they can also access earlier.


Since the announcement of the restart, more and more exchanges have been arriving, which on the one hand support the airdrop and pass it on to their customers and on the other hand have started trading with the new version of LUNA.


LUNA is currently available directly on Bybit, Kraken, MEXC, OKX and Bitrue. However, more exchanges will follow very soon. Including Kucoin, FTX and Bitfinex.


A bumpy start is not uncommon

It is perfectly normal for a cryptocurrency to produce a so-called listing candle on its very first day of trading. This also explains why LUNA2 was able to make a high of around $30 today and record a low of $4.86 on the same trading day.


As of press time, LUNA is trading at $5.50, in range within sight of the low. Cautious investors prefer to wait and see how events develop in the coming days because the price could initially remain volatile.


In any case, LUNA2 is a long way from the all-time high of the legacy token and it will be interesting to see how the Terra blockchain will fare in the future without an algorithmic stablecoin. Investors don't have to fear a debacle like in the case of UST, but most investors' trust is likely to have been lost. The crypto market is always good for a surprise and it will be interesting to see whether speculation might get things moving. The market as a whole is still in a tight spot, which should also affect LUNA2 in one way or another.

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