Terra LUNA 2.0 Price Spikes 90% Ahead Of Big Binance Airdrop

Terra (LUNA) 2.0 price briefly spiked around 90% overnight to an intraday high of $11.33 ahead of Binance’s airdrop but has since dropped back to around $8.26 at the time of writing.

iexclusivenews reports that according to CoinGecko data. The current price of $8.26 marks a 35 percent increase in the last 24 hours.

However, since releasing on the weekend at a starting price of $18.87, the price has dropped 56%.

This online news outlet understands that Members of the community tweeted screenshots of the price on the MEXC Global market soaring as high as $12. With Twitter user bull bnb highlighting several surging moments, noting that the price surged by roughly $2.00 in 30 minutes.

Related: Do Kwon Confirms Relaunch Of Terra LUNA 2.0 New Chain

What You Need To Know 

iexclusivenews Nigeria reports that Binance is one of several exchanges supporting the Terra ecosystem’s relaunch. And it will begin a multi-year airdrop campaign to eligible users on Tuesday at 6:00 a.m. UTC, as well as trading the token.

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

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Several investors have gone to Twitter to express their dissatisfaction with Terra’s previous airdrops, with Twitter user cryptocevo posting on Monday 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.”

The verified terra money Twitter account stated earlier today. That there had been challenges with the 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 stated.