“Zero wanted to buy Luna 2.0, but if I receive something like this on Binance, I’ll flip any shipment,” Lark Davis stated. Since the re-opening of the Terra environment via Terra 2.0 on May 28, the value of LUNA has dropped by almost 70%.
New LUNA assets (also known as LUNA 2) are being deployed to shareholders who originally occupied Luna Classic (LUNC), TerraUSD Classic (USTC), and Anchor Protocol UST as part of Terraform Labs creator Do Kwon’s resurrection strategy (aUST).
LUNA has plunged approximately 69 percent from its initial price of $18.87 on Saturday, to about $5.71 at the moment of typing, as per CoinGecko statistics.
At this point, the rapid drop appears to indicate a lack of confidence in Do Kwon’s rebranding going ahead, with several participants suggesting on Twitter that they are rather attempting to recoup a tiny percentage of their earlier lost funds and walk away from the deal.
Beginning May 31, Binance will commence a multi-year transfer of LUNA to qualified customers, as well as offer the currency for trade in its Invention Zone, a designated exchange area for unpredictable and high-risk commodities.
Some members of society, such as “lurkaroundfind,” who have stated their intention to buy LUNA once the mayhem is finished, have forecast further slaughter once the Binance distribution comes online.
They mentioned that Binance has “15.7MM usable LUNA, which will be accessible to clients on Tuesday,” and that traders who are primarily employed by the Anchor Network will want to cash out because they have little purpose in the Terra environment.
Prominent personalities in the field, such as Lark Davis, have made similar observations, informing his 988,000 Twitter followers late last night:
“I have zero plans to purchase $luna 2.0, but if I acquire some on Binance, I will trash any airdrop.”
Leave a Reply