Luna 2.0% 70% drop in two days; What will be the future of new tokens?
Although it hasn’t been long since Luna 2.0 launched and AirDrop, the price of this token has dropped by 70%. Many users of the digital currency space are pessimistic about the future of this project, and apparently condemn Luna 2.0, like the classic Luna, to collapse.
To Report Kevin Telegraph, the price of Luna 2.0 has dropped by nearly 70% since the re-launch of the ecosystem with the introduction of the new Terra 2.0 network on May 28 (June 7).
The new tokens, called Luna 2.0, were designed for the damaged Luna Classic (LUNC), Terra Just Classic (USTC) and Anchor USB Protocol (aUST) Aircraft developers, according to Do Coan, the founder of Terra.
A prominent user of the digital currency space on Twitter wrote on his page yesterday:
The only logical reason to buy Luna 2.0 is to qualify for Luna AirDrop 3.0; That’s after the token became as worthless as Luna 1.0.
According to CoinGecko, Luna has lost almost 64% of its value since launching its new network at $ 18.87 on Saturday, and is trading at $ 6.39 at the time of writing. .
The crash appears to indicate relative distrust of the two-Quantum plan to revitalize the Terra ecosystem, and many investors have said on Twitter that they are seeking to recoup a small portion of their previous lost capital to get out of the project forever.
Bainance Exchange is also scheduled to start distributing new lunas, which are expected to take several years, to eligible users from May 31 (June 10). In addition, the exchange will list Luna’s new token in the Innovation Zone, a dedicated trading platform for volatile and risky assets.
Some members of the digital currency community on Twitter, such as Terra Watcher, who was preparing to buy Luna 2.0 after the volatility and sell-off ended, predict that sales will increase as new tokens are listed on Bainance. .
According to this user, Bainance has “15.7 million Luna in cash that will be available to users on Tuesday” and investors who mostly used the Anchor Protocol will seek to cash in on their capital; Because they are no longer interested in the Terra ecosystem.
According to the user’s tweets, as can be seen from the pre-crash Snapshot of the network, most UST shareholders in Anchor Protocol were users of the exchange, so they are expected to start massive sales.
Also read: Terra 2.0 launched; How many new Luna should everyone have received?
Other celebrities in the field, such as Lark Davis, have also mentioned this issue.
He told his 988,000 Twitter followers yesterday:
I have no decision to buy Luna 2.0; But if I get anything from this airdrop in Bainance, I will sell all my tokens.