May saw heavy investor interest in LUNA 2.0 following the revival of the Terra Project, which rebranded the old digital currency and its network to Terra Classic (LUNC).
LUNA 2.0 was trending in the last days of May and continues to trend in the first week of June as several cryptocurrency exchanges put their support behind the existence of the native asset of the new Terra ecosystem. Be. According to[In]Crypto Research, recorded trading volume for LUNA 2.0 was in the region of $2.48 billion (28 to 31 May).
Although this figure may seem small due to the trading volumes of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and Binance Coin (BNB), it is $1.74 billion more than Terra Classic (LUNC). was. Trading volume within the same period. In the last four days of May, LUNC combined trading volume was approximately $741.86 million.
What is causing the spike in LUNA 2.0 volumes?
The support of several mainstream cryptocurrency exchanges during the revival of the Terra project is largely responsible for the increasing trading volume of LUNA 2.0.
HitBTC announced that starting May 28, new spot pairs LUNA/BTC, LUNA/ETH, and LUNA/USDT will be available to its users. Despite reservations, Binance’s chief executive officer (CEO) Changpeng Zhao has considered a revival plan for Terra, the exchange was part of the LUNA 2.0 airdrop that took place on May 31. Binance opened trading for LUNA/USDT and LUNA/BUSD. Late in the morning of 31st May. Crypto.com also supported the new LUNA token airdrop for existing holders.
In addition to the above exchanges, LUNA 2.0 can be accessed on Bitget, CoinEx, LBank, Bibox, MEXC Global, Bybit, Huobi Global, OKX, Kucoin and Gate.io.
Luna 2.0 Price Performance
LUNA 2.0 opened on May 28, 2022 with a trading price of $18.98, reached a monthly high of $19.54 on the same day, and tested a monthly low of $4.85 on May 29. LUNA 2.0 ended May with a trading price of $8.88. Overall, this equates to a 53% drop in the opening and closing price of the coin.
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