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The price of Terra (LUNA) briefly spiked around 90% overnight to an intraday high of $11.33 ahead of Binance\u2019s airdrop but has since dropped back to around $8.26 at the time of writing. <\/p>\n
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. <\/p>\n
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. <\/p>\n
\nIn 30 minutes you apes pumped it 2 more dollars am loving it I love you do Con. @crypto_bitlord7<\/a> you should’ve nought with me bro this new $luna<\/a> on fire https:\/\/t.co\/Y9n6HT2mY6 pic.twitter.com\/s2TJRYrl4J<\/a><\/p>\n
\u2014 Bull of Binance Street (@bull_bnb) May 30, 2022<\/a><\/p><\/blockquote>\n
Binance is one of several exchanges aiding the relaunch of the Terra ecosystem\u00a0and 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. <\/p>\n
While the project aims to re-establish itself under Do Kwon\u2019s revival plan, onlookers in the short term have predicted the price will tumble further once the Binance drop goes live.<\/p>\n
Related: <\/strong><\/em>Luna Classic (LUNC) pricing error leads to Mirror Protocol exploit<\/em><\/strong><\/p>\n
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:<\/p>\n
\u201cLost 50k on $LUNA and got an airdrop of $112 Prefer the complete rug. That small airdrop is like extra needle salt in the wound.\u201d<\/p><\/blockquote>\n
Earlier today, the verified terra_money Twitter account acknowledged there have been issues with the airdropping so far and vowed to find a solution shortly. <\/p>\n
\u201cWe are aware that some have received less $LUNA from the airdrop than expected & are actively working on a solution. More information will be provided when we have gathered all of the data, so stay tuned,\u201d the tweet read. <\/p>\n
\nAttention $LUNA<\/a> airdrop recipients <\/p>\n
We are aware that some have received less $LUNA<\/a> from the airdrop than expected & are actively working on a solution.<\/p>\n
More information will be provided when we have gathered all of the data, so stay tuned.<\/p>\n
\u2014 Terra Powered by LUNA (@terra_money) May 30, 2022<\/a><\/p><\/blockquote>\n<\/div>\n