Ever since the issue began with the Terra network, the teams behind the project have been trying to fix the problem with full force. As they saw no solution to the problem they faced with LUNA, the alternative to the issue was to introduce a new token.
Therefore, the Terra team announced the launch of a new Terra token naming it “LUNA”, changing the name of the old LUNA to LUNC. The new token launched through the new Terra 2.0 blockchain is being well-received by the major exchanges.
Terra’s Acceptance on Bybit
Prior to LUNA’s launch on the largest cryptocurrency exchange, Binance, the new LUNA was launched through the Bybit exchange. When launched, the trading price of LUNA skyrocketed. It grew all the way up to $30 from a low of $2 before retreating.
On the first day of trading at Bybit, the price of LUNA came down to $6 from its high of $30. Still, it was a strong comeback for LUNA and its rise to $30 was something that was expected by the investors and analysts.
Terra’s Price Jerk Prior to Listing on Binance
After Bybit, it was the turn of Binance to launch the Terra coin. It announced that the new LUNA coin will be listed on May 31 at 06:00 UTC.
However, it seems that the investors are aiming to benefit from LUNA as much as they want. The investors know that the moment LUNA is launched through Binance, its price will go up because many investors would become part of the launch.
LUNA’s Price Spiked by 90%
As a result of the strong input of the investors, the trading price of LUNA spiked by 90% through midnight. The data shows that from a low of $8.26, the price of LUNA jumped up to a high of $18.87 after experiencing another 35% surge following the 90% surge.
It is to be noted that the price of LUNA did end up retreating from the particular mark and since then, it has experienced a 56% dip in its price.
There are many investors who have shared screenshots of LUNA being at a high price of $12 after experiencing a significant surge. Many investors also posted how the price of LUNA ended up jumping by $2 in a matter of 30-minutes.
Now, the investment is looking forward to the launch of LUNA on the Binance exchange. As soon as the token launches, then it is anticipated that the graph for LUNA may shoot higher.
It may prove to be a highly lucrative and profitable opportunity for investors looking for short-term gains. The analysts are speculating that the trading price of LUNA may spike over the $30 all-time high price.