Investors dumping on Terra as LUNA 2 tanks 70% in two days
![](data:image/svg+xml;utf-8,<svg xmlns="http://www.w3.org/2000/svg" width="1024" height="512" />)
“Zero plans to buy luna 2.0, but I will dump any airdrop if I get something on Binance,” said Lark Davis
The price of LUNA has tanked around 70% since the re-launch of the Terra ecosystem via Terra 2.0 on May 28.
Under the revival plan of Terraform Labs founder Do Kwon, new LUNA tokens (also referred to as LUNA 2) are being airdropped to investors that previously held Luna Classic (LUNC), TerraUSD Classic (USTC), and Anchor Protocol UST (aUST).
The only reason to buy $LUNA 2.0 is to qualify for the next airdrop of $LUNA 3.0 after it goes to zero like $LUNA 1.0
According to data from CoinGecko, LUNA has dropped roughly 69% since its opening of $18.87 on Saturday to sit at around $5.71 at the time of writing.
this stage, the sharp plummet seems to suggest a relative lack of faith in Do Kwon’s revamp moving forward, with many investors indicating on Twitter that they are instead looking to recover a small portion of their previously lost capital and wipe their hands clean of the project.
Sold my available LUNA 2.0 airdrop → ETH @ $1,790.
I don’t see any fundamental here & I see whatever I get as bonus since I already wrote everything off as a loss & $0.
If not that the others are vesting, I’ll sell ‘em all.
Source:
9 comments