LUNA Price Has Increased 90% Before The Major Binance Airdrop!

LUNA Price Has Increased 90% Before The Major Binance Airdrop

Prior to Binance’s airdrop, the price of LUNA soared by about 90% overnight to an intraday high of $11.33, but has subsequently dipped down to roughly $8.59 at the time of writing.

According to CoinCu data, the current price of $8.59 indicates a 39% growth in the last 24 hours. However, after releasing on the weekend at a starting price of $18.87, the price has dropped 56%.

Members of the community shared screenshots of the price going as high as $12 on the MEXC exchange, with Twitter user named “bull bnb” highlighting a price surge of about $2 in 30 minutes.

Binance is one of several exchanges participating with the relaunch of the Terra ecosystem, and on May 31 at 6:00 a.m. UTC, it will start a multi-year airdrop campaign for qualified users, as well as offer the token available for trade.

While the project seeks to re-establish itself as part of Do Kwon’s revival strategy, many expect that the price will fall even more after the Binance drop goes live.

Several investors have gone to Twitter to express their dissatisfaction with Terra’s previous airdrops, with “cryptocevo” Twitter user posting on May 30 that: “Lost 50k on $LUNA and got an airdrop of $112 Prefer the complete rug. That small airdrop is like extra needle salt in the wound.”

Terra’s official Twitter account recognized that there have been issues with airdropping so far and promised to find a solution as soon as possible.

“We are aware that some have received less $LUNA from the airdrop than expected & are actively working on a solution. More information will be provided when we have gathered all of the data, so stay tuned,” the tweet read.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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