Binance Is Set To List Terra (LUNA) 2.0 With An Underlying Condition

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Binance To List Terra 2.0

Terra 2 had recently concluded its airdrop programme for victims of Terra Classic ( Terra 1) crash. Following the success of the airdrop programme, Binance announced that it is set to list the new token, LUNA 2 on its platform.

However, the announcement came with a clause. The token would only be available under the innovation zone on Binance exchange. The innovative zone houses new tokens that have a high risk rate. The listing would take place on the 31st of May and it would then be open to investors for trades.

In the first few minutes after it was launched on Saturday, the price of LUNA 2.0 skyrocketed. But it only stayed high up for a few hours before it came tumbling down by 80%. The token is somewhat stable now as it maintains the $5 trading price.

Binance and other exchanges actively backed the recently concluded LUNA 2.0 airdrop activities. The program was executed to compensate those who lost their funds in the crash of the Terra 1.0. About 1 billion LUNA 2.0 tokens were expended in the process.

Binance Considers LUNA 2.0 As A High-risk Token

While airing the news of the listing, Binance emphasized that the listing would only be in the innovative zone. The zone was created for tokens that have a higher rate of volatility than other cryptos. Other tokens listed are SAND, ERD, KAVA 

Any trader who wishes to engage any token in this zone must fill a questionnaire serving as a disclaimer. Binance’s spokesman described LUNA 2.0 as a token capable of creating unusually high risk which can culminate in price volatility.

Other Exchanges Disagree With Binance

News reports show that other exchanges like OKX, KuCoin etc. seem to care less about the new token’s volatility. They have listed the token on their spot trading section after successfully providing sufficient liquidity for it.

Meanwhile, Binance’s founder, Changpeng Zhao had strongly condemned the Terra 1.0 community and its founder when it crashed. This might be the reason behind Binance’s  strict measures against the new LUNA 2.0 token.

The depegging of Terra Classic’s UST was the genesis of the unfortunate crash of the whole network that occurred this month. However, the second version of the network, Terra 2.0, came to being barely a month after the occurrence. 

But this time around, the new network does not have a stablecoin. Moreso, the private wallets of the CEO, and the other two entities responsible for the crash were severed from the network.

Still, LUNA Classic (LUNC) and UST prices rose after the airdrop


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