LUNA 2.0 Trading Volume Exceeded $2 Billion.

Following the relaunch of the Terra project, which saw the previous digital currency and its network rebranded as Terra Classic, LUNA 2.0 saw a surge in investor interest in May. 

Due to numerous cryptocurrency exchanges supporting the survival of the new Terra ecosystem’s native asset, LUNA 2.0 trended in the last days of May and continues to rise in the first week of June. The trade volume for LUNA 2.0 was estimated to be around $2.48 billion (May 28 to 31).

Due to the trading volumes of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and Binance Coin (BNB), this statistic may appear little, but it was $1.74 billion larger than Terra Classic (LUNC) trading volume during the same period. LUNC had a cumulative trading volume of $741.86 million in the final four days of May.

The increasing trading volume of LUNA 2.0 is partly due to the assistance of various popular cryptocurrency exchanges during the Terra project’s resurrection.

HitBTC has announced that their users will be able to trade LUNA/BTC, LUNA/ETH, and LUNA/USDT starting May 28. Despite Changpeng Zhao, Binance’s Chief Executive Officer (CEO), having concerns about Terra’s rebirth plan, the exchange was part of the LUNA 2.0 airdrop on May 31. In the late morning hours of May 31, Binance began trading LUNA/USDT and LUNA/BUSD. Existing holders of the New LUNA coin received an airdrop from Crypto.com.

LUNA 2.0 is available on Bitget, CoinEx, LBank, Bibox, MEXC Global, Bybit, Huobi Global, OKX, Kucoin, and Gate.io, in addition to the aforementioned exchanges.

LUNA 2.0 began trading at $18.98 on May 28, 2022, had a monthly high of $19.54 on the same day, and tested a monthly low of $4.85 on May 29. The trading price of LUNA 2.0 was $8.88 at the end of May. Overall, this equates to a 53% drop in the coin’s opening and closing prices.

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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Patrick

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