Last week LUNA’s airdrop was quite a success. Now, Binance, the world’s largest crypto exchange, announced that LUNA 2.0 will be listed on its platform.
However, Binance’s “innovation zone,” a high-risk token trading platform, will list the token. The tokens will be available for trading on May 31.
The price of LUNA 2.0 dropped by 80% in the first few hours of trading on Saturday. For the time being, the token looks to have reached a level of stability, and it is now trading at roughly $5.
On the previous Terra network, which is now known as Terra Classic, almost 1 billion fresh LUNA coins were airdropped to holders. The airdrop was endorsed by Binance and the majority of other exchanges.
LUNA 2.0 Lists In Binance
Binance, while announcing its listing, stated that the Innovation Zone contains assets that are significantly riskier than other cryptos. Elron Network (ERD), KAVA, and Sandbox are among the other tokens which will list on the site (SAND)
In order to trade in the Innovation Zone, Binance needs traders to complete a questionnaire.
Other exchanges didn’t seem to be taking the same precautions as Binance. Major exchanges including OKX, Huobi, Kucoin, and Bybit have all said that they have authorized regular spot trading for the cryptocurrency after obtaining sufficient liquidity.
Binance’s opinion might also be the impact of CEO Changpeng Zhao’s severe criticism of the Terra crash, along with its founder, Do Kwon’s stance.
LUNC & UST Price Rose After Airdrop
The launch of the new LUNA comes little over a month after the Terra Classic virtually lost its worth in a recent price crash. The UST depegging had a major contribution to the crash.
The Terra 2.0 excludes the stablecoin, along with Do Kwon’s, Terraform Labs’, and the Luna Foundation Guard’s private wallets. These are the ones that are blamed for the crash. However, there was an increase in LUNA Classic (LUNC) and UST price after the airdrop