Binance ‘list’ LUNA 2.0 event causes token volatility

Return to the afternoon of 28.5, the net blockchain Terra 2.0 has been launched. After just a few hours, cryptocurrency exchanges listed LUNA tokens in turn, with Bybit at the forefront and Okek, Kraken or Kucoin exchanges. At dawn on May 29, Huobi exchange also entered the scene.

Within the first 20 minutes since Bybit listed, the LUNA token value spiked 60 times – from 0.5 USD to 30 USD, then increased and decreased “crazy” and until the evening of the same day. then gradually achieve a stable level in the range of 5-7 USD/token.

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LUNA 2.0 ‘landed in the field’ on the first day

The event that the Binance “list” LUNA exchange caused the token price to fluctuate

Token price LUNA was stable until about the night of 30.5 – half a day before the floor Binance open transactions related to LUNA.

Specifically, according to the data recorded by CoinMarketCapthe price of LUNA has “raised” from about 13 o’clock on May 30 with prices ranging from 6-6.5 USD/token.

By 11 pm on the same day, the token price increased sharply, peaking at $11.89 at 4:30 am on May 31, and then fluctuated wildly for many hours. By the time the Binance exchange officially opened for trading in the early afternoon of May 31, the token fluctuated more, then achieved stability in the range of 8-9 USD/token.

At 11 a.m. on June 1, the token price continued to decline towards 7 USD and stability seems to have been established around this mark.

The price of LUNA (2.0) fluctuated wildly before and after Binance opened trading with this token coinmarketcap

As such, the LUNA token has had a much smaller volatility than on the first day, but the prolonged volatility has caused new investors to take advantage of the newly launched LUNA opportunity to jump into the money market. crypto-electronics, have to be flabbergasted with their investment.

Huy Hoang (19 years old, living in Hue), shared that “the LUNA 2.0 token fluctuates constantly, making me feel anxious constantly”. Huy Hoang is a new investor who has been studying the cryptocurrency market for the past several months and decided to take advantage of the time when the market is showing signs of recovery (uptrend) to start investing. Accordingly, Hoang spent more than 92 USD to buy 10 LUNA tokens at Binance.

Meanwhile, Mr. T. Duc (27 years old, also living in Hue city) “taken advantage” to buy 40 LUNA tokens on the morning of May 30 – when the token price was still below 6 USD – and discharged it all to make a profit in the afternoon. May 31 evening. At the time of sale, the LUNA token was priced at about 10 USDT (Tether USD) on the Bybit exchange and Mr. Duc said the estimated profit was about 3.9 million VND. Mr. Duc is an experienced cryptocurrency trader. for more than 3 years.

Currently, Binance is still listing the new LUNA in the Innovation Zone – a specialized trading area for users to trade new tokens that may be more volatile and risky than other tokens. Therefore, investing in LUNA at this time is not advisable for those who are “weak of heart” or new to the field of cryptocurrency.