Three days after its release, the new LUNA 2.0 price is seeing significant swings, making it a gambler’s dream. Many crypto exchanges have also been reporting different values since the airdrop on Saturday.
Data from Kraken reveals that the new currency LUNA started trading at $17 before fluctuating between $30 and $4.80. Meanwhile, LUNA was listed on the OKX exchange, with the currency starting its trade at $1 before rising from $5 to $20.
Binance Lists LUNA
Also there was a listing of new LUNA coins on Binance exchange on May 31. Despite the fact that cryptocurrency is vulnerable to high volatility, such extreme fluctuations in both areas are uncommon.
Investors took advantage of the rise in value of LUNA. However, holders of the previous version of LUNA and the stablecoin UST reimburse losses from the Terra crash. According to head of research at crypto prime brokerage Fadi Abualfa Copper, this is pure gambling, one that crypto has never seen.
Will Terra 2.0 Climb The Ladder Of Success
Of course, it’s not the right time to comment on the new Terra blockchain. Analysts are mostly negative about Terra 2.0, based on the big slump earlier this month. Thomas Dunleavy, senior crypto research analyst at digital-asset data firm Messari, told Bloomberg:
“The current volatility indicates that LUNA 2.0 is a speculative asset. This volatility will continue until investor confidence is earned. Also adds saying he doubts that will happen with many well funded alternative options.
LUNA has mainly become “illiquid” due to its enormous price volatility. As a result, a number of UST and former LUNA investors have continued to retain the new currency.
