Terra’s new LUNA tokens have jumped 90% to an intraday high of $11.33 before retracing to trade at $8.26 amid the anticipated Binance’s airdrop and listing.
The value has plunged 56% since debuting over the weekend at a starting price of $18.87, with the current price representing an overall 35% increase.
Binance is among the platforms that are assisting with the relaunch of the Terra ecosystem. The exchange has announced a multi-year airdrop campaign to pre-qualified users from Tuesday at 6 am UTC and will open the token for trading on its platform.
Analysts have predicted that the token will tank once dropped by Binance despite the efforts by its co-founder Do Kwon to revive the network.
A post on terra_money Twitter account has pointed out that there are issues with the airdrop but assures users that a solution will be reached. The post added that more information would be provided once all the data had been collected.
Source: Cointelegraph