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Now what?
Just when Lunatics thought the nightmare was surely over, Terra ends up finding novel ways to dump on its fans.
LUNA dropped 70% upon its launch on Friday. The refurbed token rose to $17 before quickly plummeting down to $5. Currently, it’s managed to calm down a notch, chilling at around $6. Luna Classic (LUNC)* didn’t impress either, dropping 8% upon the birth of its baby sister LUNA 2.0.
Not all exchanges have even “unlocked” the token yet. If the price action so far is any indication, however, peeps trading on Binance prolly won’t be expecting much. The centralized exchange is planning to unlock users’ tokens May 31 at 05:30 UTC.
So… what happens now? Well, more liquidity may be on the way, since only 21m new LUNA tokens were airdropped out of 1bn tokens available. The rest are set to be airdropped over time. By this point though, what folks’ reactions will be is anyone’s guess.
* – please note, the token displayed on this timeline is for Luna Classic, not Luna 2.0.