After Listing on Binance the New Terra Luna Token Grew by Almost 40%, but This Did not Help the Terra Team Avoid New Problems with Restarting
The updated Terra Luna (LUNA) token rose by 39.41% on Tuesday after the token was registered on the Binance cryptocurrency exchange. Despite this, the CEO of Finance doubts the success of the relaunch of Terra, and investors received less from airdrop than they expected.
The other day Terra 2.0 was launched, which aimed to revive the fallen ecosystems of Terra (LUNA) and Terra USD (USD). Kwon’s plan to revive Tera includes a hard fork of the existing block chain and the reissue of LUNA tokens for existing investors.
Binance is one of several exchanges aiding the relaunch of the Terra ecosystem and 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.
Despite the fact that Binance actively supported the restart of Terra, the CEO of the exchange is sceptical about the restart. Changfeng Zhao noted that despite widespread scepticism about the Terra restart, Binance has a responsibility and must help users affected by the fall of LUNA.
“We still need to ensure continuity of people’s access to liquidity. […] We have to support the revival plan hoping that it may work,” said Changfeng Zhao.
But the doubts of the CEO of Binance only started a series of problems for the terra team, as Twitter was filled with outrage from investors who were waiting for a greater reduction in their losses related to the collapse of Luna after the airdrop. For example, the user cevo made a post on Twitter:
Fortunately, the Terra team quickly got in touch on the same Twitter and tried to reassure users, saying that they were aware that some users received less $LUNA from the distribution than expected, and the team is actively working to solve this problem.