Terra Launches Highly-Anticipated LUNA Tokens—Begins Airdrop

Terra has launched the much-talked-about LUNA token, airdropping LUNA tokens to LUNA Classic (LUNC) and UST Classic (USTC) holders. There is a maximum supply of 1,000,000,000 LUNA tokens at press time, although the circulating supply remains unknown.

LUNA recorded its most activity on giant trading platform OKX, with a 24-hour trading range between $6.46 and $3.63. Other trading platforms recording notable LUNA trading activity include GATE.io and MEXC Global.

That said, “Luna2” and “Luna 2.0” are currently two of the most trending words on social media over the last 48 hours as holders receive their airdrops. Queries about where to trade the new LUNA tokens have also flooded the internet.

Terra CEO Comments on LUNA Launch

Terra CEO and co-founder Do Kwon tweeted about the launch yesterday, noting: “Phoenix-1 mainnet is now live and producing blocks – public node services, wallets, and explorers should be going live shortly.” The CEO also stated: “To view your LUNA (or LUNA2 as some exchanges call them) token balances, you only need to log into [Terra Station] and refresh the page.”

Several other top crypto exchanges have been activating support for the new LUNA token, including Kraken, Bitrue, Kucoin, Bybit, Nexo, Lbank, Bitfinex, and Bitget. Meanwhile, data from Cryptocompare shows that Tether (USDT) commanded the majority of LUNA trades, followed by ETH. The crypto asset can also be traded against several fiat currencies, including USD, CAD, EUR, PHP, INR, and IDR.

The new LUNA token has been a controversial topic on several crypto forums and social media since Terra announced it. The token has elicited different reactions from the crypto community, with some championing the idea and explaining the potential it holds while many criticize or mocked it.