![]() ![]() It is no news that the Terra ecosystem is ready for a new twist as it embarks on the v2.4.0 Upgrade. Terra ? Powered by LUNA ? JTerra v2.4.0 Upgrade Shoutout to Terra validators for a speedy upgrade! Terra Core has successfully upgraded to v2.4 and is once again producing blocks. As of this writing, Terra Core has been successfully upgraded and is once again producing blocks. However, the exchange has assured users that it will promptly restore the deposits and withdrawals for LUNA as soon as it confirms the stability of the upgraded network to be stable. The suspension commenced at around at 12:00 (UTC). The Terra (LUNA) network upgrade has been scheduled to take place at the Terra block height of 5,994,365. In its effort to aid the upgrade process, Binance has revealed its plans to temporarily suspend deposits and withdrawals of the LUNA token. Terra Classic has taken the crypto space abuzz since the unveiling of its network upgrade, signaling a significant milestone for the Terra ecosystem. This development comes shortly after the network began operations for the Terra Classic v2.4.0 upgrade. LUNA has seen a sharp price hike since the unveiling of its network upgrade and support from Binance.īinance, the world's leading cryptocurrency exchange, has announced in a recent blog post that it will support the Terra Classic network upgrade.Deposits and withdrawals for LUNA on Binance will be placed on hold. Renowned cryptocurrency platform, Binance announced support for the ongoing upgrade of Terra.Investors will not be able to sell their entire LUNA holdings until the vesting schedule ends. The vesting schedule means there is an artificial cap on the number of tokens that can be sold from the unlocking. The remaining 70% of tokens are vested, meaning they will be unlocked over a period of 2 years. Given the LUNA vesting schedule, this appears to be just 30% of the tokens that investors will be entitled to. Will most investors cut their losses and sell to recoup their investment at 10 cents on the dollar or hold in the hope the token can rechallenge all-time highs in the future?īinance has created an easy to use conversion formula to calculate the LUNA airdrop, displayed below: After the LUNA airdrop, they will own $87.94 worth of LUNA. ![]() ![]() For example, an investor who held 10 LUNA pre-attack would have had $780 on May 7.īy May 16, the same tokens were worth just $0.002. The $8.4 is far removed from LUNA’s original all-time high of $118 and is an order of magnitude above the current LUNC price of $0.00013. Over $60 billion was wiped from the global crypto market cap when the Terra ecosystem collapsed, and many investors were hit hard. Buy the rumor, sell the news.Ī buy the rumor, sell the news event may be on the cards as thousands of UST and LUNA holders may be ready to exit their positions as soon as their tokens are unlocked. By 10 pm LUNA had continued rising to hit $11.5 up 75%. LUNA hit a high of $9.40 today, May 30, before retracing slightly to $8.40. The announcement was made on May 28, but it seems excitement for the Binance listing has the Terra community ready to buy. The token will coin live with LUNA/BUSD and LUNA/USDT trading pairs at 06:00 (UTC). However, given the sensitive and timely nature of the launch of LUNA 2.0, it has distributed a timeline detailing exactly when it will go live. It is against company policy for Binance to release information on listings ahead of schedule. It hit $30 before crashing to a low of $3.5 on its first day of trading, and now the token is making another run ahead of its Binance listing on May 31. After a rocky start, the new LUNA token is up over 40% on May 30. ![]()
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