The post This Announcement By Binance Boosted Terra Classic (LUNC ) Price To Surge 60% appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The new Terra Luna prices are dealing with 60% of price drop after the initial launch. At the same time, LUNA Classic (LUNC) prices showed some green indexes after the horrible collapse of stablecoin.

The Terra Luna collapse has backed up many crypto exchnages and service providers as well. Thus, the World’s largest crypto exchange, Binance announced the listing of new LUNA tokens.

The declaration mentions putting it in the “innovation zone”, this Further issues the Terra 2.0 (LUNA) to all entitled LUNC and USTC holders based on the ratio says Binance. The deposits and withdrawal for the token will be open on May 31, 2022, at 05:30 (UTC).

As soon as Binance’s announcement about launching new perpetual contracts for the token reveals, the freshly minted Luna Classic (LUNC) prices rose to 90% on Monday.

This indicates the support for LUNC even after Terra 2.0’s launch, which saw a consequent airdrop of the new LUNA last week. LUNC currently jumped over 90% in last 24 hours, which is now trading at the price of $0.000150.

Further, the Binance reveals about the latest futures developed that they will be launching the BUSD-argined 1000LUNC perpetual contracts with up to 20x leverage. Issuing of these contracts will be done on 31, MAy 2022 at 02:45 AM (UTC).

The LUNC token whose prices have crashed completely to the ground has now seen a jump of over 185% in its 24 hour trading volume, now standing at $256 million, and is now holding the total market cap of $990 million.

Meanwhile the South Korean agencies are investigating the probability of the historic collapse intensively, the crypto exchnages involvement during the fall are also under consideration.

Further, the Terra’s meant to be stablecoin, TerraClassicUSD also makes a jump over 20% in the meantime, and is now trading at the price of $0.0328.

Similarly the Terra LUNA 2.0 is also experiencing a hike in its price from its initial fall. The Terra LUNA 2.0 is now up by 13% over its last 24 hours. The token LUNA is trading at an average price of $6.6 after dropping from the price level of $17.