Luna 2.0 Crypto Jumps 700% in Price After Binance Listing

Seems like Luna 2.0 is finally taking off as investors are trusting the crypto again

The new Luna cryptocurrency has risen over 700% in price just hours after listing on the Binance exchange.

Terra (LUNA) went live with a LUNA/BUSD spot pair at 6:00 UTC on Monday, May 31. Luna initially hit a brief high of $18 before crashing down to around $8. Luna then rose to just over $9 before falling to a current level of $8.4

The Binance crypto exchange is showing a price increase of 742% at the time of publication.

Will Terra Luna recover to previous highs over $100?

CoinMarketCap has the Terra Luna price at $8.32 with a self-reported market cap of $1.7 billion.

The current market cap is far below the previous Terra Luna market cap (now Luna Classic or LUNC) of over $40 billion at the beginning of May. A total of 1 billion new Luna crypto tokens have been minted to launch the Terra 2.0 network but only 30% have been released – with the remaining 70% vested and made available over a period of two years.

It means there is currently a circulating supply of 210,000,000.00 LUNA.

For Luna to recover to its previous prices of $100 then Terra Luna would need a market cap of $21 billion. During the current bear market this would be an equivalent market cap to cryptocurrencies Cardano (ADA) and Ripple (XRP).

While this is possible in theory it depends on the UX and core functionality of the new Terra blockchain. Many of Terra's previous developers have been airdropped tokens and are migrating their dApps and projects to Terra 2.0.

How successful the migration remains to be seen.

If you're looking for huge jumps in price, check out EverGrow Coin

EverGrow Coin is another crypto in the Binance ecosystem, which is predicted for huge jumps in price this 2022.

The EverGrow Coin model is built upon a 14% transaction tax where 8% is redistributed as BUSD rewards, 3% put towards liquidity, 2% for buyback and burn and 1% for marketing. Since launching in September last year EverGrow Coin has paid over $37 million in BUSD to investors and burned close to 53% of its initial token supply.

Key features of EverGrow Coin are security and transparency. All the EverGrow Coin founders' wallets are publicly auditable on BSC Scan, while rewards in BUSD ensure passive income in the most secure stablecoin on the market.

These aspects have become incredibly important in the wake of the Terra Luna collapse and wild speculation which has lost investors millions.

EverGrow Coin meanwhile has scalable utilities and an ambitious roadmap that before 2022 will see an NFT marketplace, content subscription platform and metaverse integration go live and bring further rewards for investors.