LUNA 2 price jumps 90% ahead of big Binance airdrop

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LUNA 2 price jumps 90% ahead of big Binance airdrop

Overall, however, the price has tanked 56% since launching on the weekend at an opening price of $18.87.

The price of LUNA briefly spiked around 90% overnight to an intraday high of $11.33 ahead of Binance’s airdrop but has since dropped back to around $8.26 at the time of writing.

At current prices, as per CoinGecko data, the increase to $8.26 represents a 35% gain over the past 24 hours. Overall, however, the price has tanked 56% since launching on the weekend at an opening price of $18.87.

Members of the community posted screenshots of the price jumping as high as $12 on the MEXC Global exchange, with Twitter user Bull_bnb highlighting some surging moments as they noted that the price jumped by around $2.00 in the space of 30 minutes.

Binance is one of several exchanges aiding the relaunch of the Terra ecosystem and is set to launch a multi-year airdrop campaign to eligible users from Tuesdat at 6:00 am UTC, along with opening the token up for trading.

While the project aims to re-establish itself under Do Kwon’s revival plan, onlookers in the short term have predicted the price will tumble further once the Binance drop goes live.

Related: Luna Classic (LUNC) pricing error leads to Mirror Protocol exploit

Numerous investors have taken to Twitter to vent their anger over other lackluster airdrops from Terra so far, with Twitter user cryptocevo tweeting on Monday that:

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