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The relaunch of the Terra project and the rebranding of its old cryptocurrency attracted great investor interest in the new LUNA 2.0 coin.
Developers infamously famous in May, the Terra project tried to resuscitate its brainchild with the help of fork and the launch of a completely new blockchain. Accordingly, instead of the previous ecosystem token, two separate coins appeared on the market at once – Terra Classic (LUNC), representing the old blockchain, and LUNA – for the new version of Terra 2.0.
LUNA 2.0 was in trend in the last days of May and in the first days of June due to the fact that several popular crypto-exchanges, including Huobi, Bitfinex and Bitrue, Supported the idea of the rebirth of the Terra crypto project. According to Be[In]Crypto, trading volumes of LUNA 2.0 coinage between May 28 and May 31 amounted to $2.48 billion.
LUNA 2.0. Source: CoinMarketCap
Of course, this figure loses to similar indicators of such heavyweights of the crypto market as Bitcoin (BTC), Ethereum (ETH), Solana (SOL) or Cardano (ADA). However, this result surpassed the trading volumes of the “old” Terra Classic (LUNC) coin by $ 1.74 billion. The total volume value for LUNC was only about $741.86 million over the same period.
LUNC. Source: CoinMarketCap
What was the support for LUNA 2.0?
As noted above, an important role in this was played by the support of the updated Terra project by a number of leading crypto-exchanges.
Thus, the HitBTC platform announced the launch of trading in new pairs LUNA/BTC, LUNA/ETH and LUNA/USDT from May 28.
Despite the caution shown by the Binance exchange in response to the collapse of Terra (the platform immediately announced the delisting of all trading instruments with LUNA and UST from May 13), it subsequently conducted its own airdrop of new LUNA 2.0 tokens. On May 31, Binance began to support trading in the LUNA/USDT and LUNA/BUSD pairs.
Crypto.com also distributed new LUNA coins to old owners.
In addition, LUNA 2.0 can be available on platforms such as Bitget, CoinEx, LBank, Bibox, MEXC Global, Bybit, Huobi Global, OKX, Kucoin and Gate.io.
Luna 2.0 was launched on May 28, 2022 at $18.98. Soon on the same day, the price peaked at $19.54, but the next day it tested at least $4.85. Coin closed May trading at $8.88, and at the time of writing was trading, according to Coinmarketcap, just above $6.
LUNA 2.0/USD. Source: CoinMarketCap
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