Terra (LUNA) price briefly spiked around 90% overnight to an intraday high of $11.33 before the Binance launch, but has since dropped back to around $8.26 at the time of writing this article.
At current prices, according to CoinGecko data, the surge to $8.26 represents a 35% gain in the last 24 hours. Nevertheless, overall, the price has sunk 56% since its launch over the weekend at an opening price of $18.87.
Community members posted screenshots showing the price rising to $12 on the MEXC Global exchange.and Twitter user bull_bnb highlighted some bullish moments, noting that the price had risen about $2 in the space of 30 minutes.
In 30 minutes you apes pumped it 2 more dollars am loving it I love you do Con. @crypto_bitlord7 you should’ve never with me bro this new $moon on fire https://t.co/Y9n6HT2mY6 pic.twitter.com/s2TJRYrl4J
— Bull of Binance Street (@bull_bnb) May 30, 2022
In 30 minutes, you apes pumped out $2 more, and I love it. @crypto_bitlord7 you should have shopped with me bro this new moon is on fire https://t.co/Y9n6HT2mY6 pic.twitter.com/s2TJRYrl4J
Binance is one of several exchanges helping to re-launch the Terra ecosystem and is set to issue a launch campaign to eligible users starting Tuesday at 6:00 am UTC.along with opening the token for trading.
Although the project aims to be restored under the Do Kwon revival plan, short-term viewers have predicted that the price will drop further as the Binance launch goes live.
Numerous investors have taken to Twitter to vent their anger over other lackluster Terra releases so far.; Twitter user cryptocevo tweeted on Monday that:
“I lost $50,000 on LUNA and got a $112 launch. I prefer a full rug-pull. That little pitch is like extra salt in the wound.”
Today, the verified Twitter account terra_money acknowledged that there have been issues with the release so far and promised to find a solution shortly..
“We are aware that some have received less LUNA from the launch than expected and we are actively working on a solution.. More information will be provided when we have gathered all the data, so stay tuned,” the tweet read.
attention $MOON airdrop containers
We are aware that some have received less $MOON 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.
— Terra Powered by LUNA (@terra_money) May 30, 2022
Attention recipients of the LUNA launch. We are aware that some have received less LUNA than expected and we are actively working on a fix. More information will be provided when we have gathered all the data, so stay tuned.
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