Luna 2 may fall even more through Binance

After a not very successful restart of the ecosystem and cryptocurrency Terraform Labs, LUNA airdrop members may face new challenges.

On May 28, Terra restarted its network with a new LUNA token. Over the next two days, the owners of the old UST and LUNA (Classic) tokens received a new LUNA token, but they were not very happy.

The price of LUNA 2 has dropped significantly since the start of airdrop. The token debuted and reached a peak price of just under $ 19, and the next day fell 78% to a low of $ 4.08. Due to trading in Asia, he managed to recover a little, but in total lost the token by about 70% in just a few days.

Only centralized exchanges that profit from trading fees seem to have benefited from this situation. The world’s largest cryptocurrency exchange Binance is starting its airdrop, which could significantly affect LUNA’s already weak position.

According to Terra researcher Terra Watcher, the massive asset drain could accelerate as soon as the exchange starts distributing tokens to LUNA and UST Classic owners.

Binance announced that it will start its airdrop on Tuesday, May 31. In addition, the exchange will bring Terra 2.0 to its “innovation zone”.

According to the researcher, Binance’s 15.7 million liquid LUNAs could significantly change the market situation. After all, even more new tokens will appear in the hands of the audience, which in theory can not positively affect the price of the asset.

Crypto-influencer Lark Davis has confirmed that he will be one of those who will lose any LUNA 2 he receives from Binance to recoup some of these losses.

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