Terra’s Luna 2.0 Finds a Place in Binance Exchange and People’s Heart

Luna 2.0 is set to overtake past negativities of Terra through Binance exchange and new changes

Terra (LUNA token) has recently shocked every crypto investor by experiencing drastic instability as the top stablecoin in the highly volatile cryptocurrency market. The Founder of Terra, Do Kwon, decided to launch Luna 2.0 or Terra 2.0 as the much-improved version of the previous Terra stablecoin. Binance exchange platform banned transactions of Terra after the dramatic fall for the welfare of crypto investors. Recently, the Binance exchange has acknowledged and supported the launch of Luna 2.0 and has uplifted the transaction blockage. Let's explore how Luna 2.0 has gained the support of the Binance exchange as well as the hearts of crypto investors after the storm in May 2022.

The launch of Luna 2.0— after-effect of the instability of Terra

Do Kwon was determined to come back with a stronger version of Terra or LUNA token after the dramatic downfall. Thus, the after-effect of the unstable stablecoin is the launch of Luna 2.0. It has created multiple speculations in the highly volatile cryptocurrency market — regarding Do Kwon and Terra. Nevertheless, it seems like Do Kwon has made the right decision because multiple crypto exchange platforms like Binance exchange have decided to open trading of Luna 2.0 starting from May 31, 2022.

The moves of the Binance exchange are always important for crypto investors in making smart decisions to drive profit in crypto wallets. The unlocking of the trading of the revised stablecoin can shift the cryptocurrency market. The key reason is that Binance has got hold of the largest amount of the new asset with 15.7MM LUNA tokens whereas the Kucoin exchange platform consists of only 6.8MM LUNA tokens.

Meanwhile, despite supporting the launch of the revised stablecoin, the Binance exchange platform is extra cautious regarding the LUNA token. It is the new token that can impose a higher-than-normal risky venture on crypto investors — subjected to high price volatility. It is closely collaborating with Terra on the authorized revival plan on this Terra blockchain. The crypto exchange platform also wants to help the Terra crash victims or all those Terra crypto investors who wanted stability in their crypto wallets. There was approximately US$30 billion in the funds of crypto investors for the drastic downfall in May 2022.

Terra has decided to call the previous LUNA token as LUNA Classic (LUNC) and the new one as Luna 2.0 or the regular LUNA token. The crypto exchange can provide Terra with information for a planned airdrop with Luna 2.0. Binance exchange has provided simple steps on how crypto investors can check for their LUNA tokens— by unchecking the "hide 0 balances" option on spot wallets.

This new Luna 2.0 has won the hearts of crypto investors and Binance will enable withdrawals on June 1, 2022. Crypto investors are relieved that they will get airdrops for the compensation for the huge loss created by this stablecoin. The twist is that the US crypto investors cannot avail themselves due to the legal issue to keep it out of the US cryptocurrency market.

Can Luna 2.0 bring stability to crypto wallets?

Luna 2.0 is present in the highly unstable cryptocurrency market within a month after the old Terra has crashed the price. Terra 2.0 does not embody any stablecoin as well as additionally excluded the non-public wallets of Do Kwon, Luna Basis Guard, and Terraform Labs. Thus, crypto investors are satisfied with the elimination of three entities that are highly liable for the drastic crash. The whole cryptocurrency market has high expectations from Luna 2.0 or Terra 2.0 in the nearby future.