Terra’s Luna 2.0 Has Found a Place in the Binance Exchange
Luna 2.0 will surpass Terra’s past negative factors through the binance exchange and new changes. Terra (Luna token) has shocked every cryptocurrency investor recently. As the top stablecoin in the highly volatile cryptocurrency market, it has experienced severe instability. Do Kwon, the founder of Terra, decided to launch Luna 2.0 or Terra 2.0 as a substantially improved version of Terra’s previous stablecoin.
For the benefit of cryptocurrency investors, the binance exchange platform banned Terra’s trading after its sharp decline. Recently, the binance exchange has acknowledged and supported the launch of Luna 2.0 and raised the transaction blockade. Let’s discuss how Luna 2.0 won the support of binance exchange and the hearts of cryptocurrency investors after the storm in May 2022.
The Launch of Luna 2.0 — the Sequel of Terra’s Instability
Do Kwon is determined to come back with a more powerful version of Terra or Luna after the dramatic decline. Therefore, the sequela of unstable stablecoins is the launch of Luna 2.0. It generated a lot of speculation in the highly volatile cryptocurrency Market — about do Kwon and Terra. Nevertheless, do Kwon seems to have made the right decision, because many cryptocurrency exchange platforms such as binance exchange have decided to open Luna 2.0 trading from May 31, 2022.
The move of binance exchange is always important for cryptocurrency investors to make wise decisions to promote the profits of cryptocurrency wallet. The unlocking of the revised stablecoin transaction can change the cryptocurrency market. The key reason is that binance has mastered the largest number of new assets of 15.7mm Luna tokens, while kucoin exchange platform only includes 6.8mm Luna tokens.
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Cautious Binance Exchange
At the same time, although it supports the introduction of the revised stablecoin, the binance exchange platform is particularly cautious about Luna tokens. It is a new token that can impose higher than normal risk on cryptocurrency investors – affected by high price fluctuations. It is working closely with Terra to carry out the authorization revival plan on this Terra blockchain. The cryptocurrency exchange platform also wants to help the victims of Terra’s collapse or all Terra cryptocurrency investors who want their cryptocurrency wallet to be stable. The sharp decline in May, 2022 resulted in about US $30billion of cryptocurrency investors’ funds.
Terra decided to call the previous Luna token Luna classic (lunc) and the new Luna token Luna 2.0 or ordinary Luna token. Cryptocurrency exchange can provide Terra with planned airdrop information of Luna 2.0. The binance exchange has provided a simple step for cryptocurrency investors to check their Luna tokens by unchecking the “hide 0 balance” option in the spot wallet.
This new Luna 2.0 has won the favor of cryptocurrency investors. Binance will start withdrawing on June 1, 2022. Cryptocurrency investors are relieved that they will be airdropped to compensate for the huge losses caused by the stablecoin. However, due to legal issues, U.S. cryptocurrency investors cannot use themselves to exclude them from the U.S. cryptocurrency market.
Can Luna 2.0 Bring Stability to the Cryptocurrency Wallet?
Luna 2.0 appeared in the highly unstable cryptocurrency market within one month after the collapse of old Terra. Terra 2.0 does not reflect any stablecoins and excludes non-public wallets of do Kwon, Luna basis guard and Terrain labs. Therefore, cryptocurrency investors are satisfied with the elimination of three entities, which are highly responsible for the sharp collapse. The entire cryptocurrency market has high expectations for Luna 2.0 or Terra 2.0 in the near future.
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