Terra LUNA 2.0 Price Plunge 60% Following The Much Awaited Airdrop

Terra’s Airdrop brings the month of May to a close, which began with the collapse of Terra’s LUNA 2.0 and TerraUSD (UST). However, after only a few hours of circulation, the new renamed Terra prices plummeted.

LUNA Airdrop Is Live

In order to restore Terra, DO Kwon, the founder, and the community came up with a few ideas. The majority of the vote went in favor of rebranding the former chain Tera Classic and creating a new chain called Terra (LUNA) (LUNC). Fresh tokens will be distributed to specific sorts of holders as part of the approach.

Today was the day when Block 1 of the new Terra blockchain was created, as per Terra. Meanwhile, just hours after the new token’s introduction, its value plummeted by 60%. As per the sources, Terra (LUNA) 2.0 started the trade between $17 and $18. Then the price rallied towards the $20 level.

At the moment, Terra’s pricing has bottomed at $6.30. The company’s trading volume has increased by 2408% to $97.5 million. On the other hand, the Terra Classic price hit $0.

1 Billion People To Receive The Airdrop

Terra already informed that customers who are eligible for the LUNA airdrop can look into their wallets for the new Chain and they must pick the Phoenix-1 network. However, it’s only the 1 billion people who will be receiving the Airdrop.

Pre-attack LUNA holders will receive 35% of the total, with 30% going to the community pool. Next, the UST holders will gain 15% of the airdrop after the post-attachment period.

Further, Terra states that users can put their liquid LUNA in a variety of products. It can be staked on the Terra station in exchange for incentives and a say in governance choices.