Is Terra going to get a second life, following LUNA 2.0 coins airdrop on a new chain?

Several days earlier, Terra network collapsed drastically following the depegging of its algorithmic stablecoin but now seeking revival from

As planned, LUNA 2.0 tokens airdropped for LUNA Classic and UST Classic holders, on Saturday. After the airdrop, LUNA token is now officially trading as the crypto asset where its maximum supply is projected to be around one billion LUNA coins however the current token amount in circulation is not known. 

After its revival,most activities in LUNA are seen on the trading platform  of  Okx where 24 hour metrics showed that the price range for LUNA  roamed between $18.87 to $4.20. Several other exchanges that have seen LUNA trading activity include MEXC Global  and Gate.io. Not just in trading, in terms of social media trending also, LUNA 2.0 have been trading since the last 24 hours as holders of LUNA Classic have been receiving the airdrops, where most people have been seen asking about the options they have now for trading their new LUNA tokens. 

On Saturday, co-founder of TerraForm Labs, Do Kwon tweeted about the launch and stated that Phoenix-1 mainnet to the network was live and started producing blocks. He further added that public node services, explorers and wallets are expected to go live in a short while. Do Kwon further said that in order to see token balances of LUNA tokens, which are also called LUNA 2 by some exchanges, users would  only need to login into Terra station and refresh the page.

ALSO READ – Ted Cruz Wants To Make Texas “The Bitcoin Oasis”

Since then, a number of exchanges have also added their support of newly launched LUNA 2 that includes Bitfinex, Kraken, Kucoin, Bitrue, Bybit, Nexo, Lbank and Bitget. Data indicated by Cryptocompare that Tether stablecoin USDT commanded a huge portion in LUNA trading after which came Ether (ETH). Other than this, the trading pair of LUNA 2.0 is also available with USD, EUR, CAD, INR, PHP and IDR. 

The Newly launched LUNA 2.0 coin of Terra has been a subject  of conversation recently on crypto related forums and social media  platforms. These conversations mostly include mockery and criticism of Terra network and its crypto asset LUNA. For instance, an individual twitter user while mocking the LUNA 2.0 launch said that people are going to love when they will lose all their money with LUNA 2.0 if they liked losing their money with LUNA. If it goes well, there is a long way Terra network alongwith LUNA 2.0 has to cover. 

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

Latest posts by Nancy J. Allen (see all)