LUNA 2.0: Trading Volume Surpassed $2 Billion in May

In May, LUNA 2.0 attracted great interest from investors after the relaunch of the Terra project, which led to the renaming of the old digital currency and its network to Terra Classic (LUC).

LUNA 2.0 was all the rage in the last days of May and continues to do so in the first week of June, as several cryptocurrency exchanges lent their support to the survival of the native asset of the new Terra ecosystem.

According to research by Be[In]Crypto, the recorded trading volume for the new token was in the range of $2.48 billion (from May 28 to May 31).

Source: LUNA 2.0 Historical Data – CoinMarketCap

Although this amount may seem small in view of the trading volumes of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA) and Binance Coin (BNB), it is $1.74 billion higher. to the trading volume of Terra Classic (LUC) during the same period. In the last four days of May, LUNC recorded a combined trading volume of approximately $741.86 million.

Source: LUNC Historical Data by CoinMarketCap

Why this increase in the volume of Luna 2.0?

The support of several mainstream crypto exchanges during the relaunch of the Terra project is largely responsible for the skyrocketing trading volume of its cryptocurrency.

HitBTC notably announced that from May 28, new spot trading pairs LUNA/BTC, LUNA/ETH and LUNA/USDT will be available for its users.

Similarly, despite the reservations expressed by Changpeng Zhao, general manager of Binance, on the relaunch plan of Terra, the exchange participated in the launch of the token which took place on May 31. Binance thus opened trading for LUNA/USDT and LUNA/BUSD in the late morning of May 31. Crypto.com also supported the airdrop of the new LUNA token for current holders.

In addition to the aforementioned exchanges, the LUNA 2.0 token can be accessed on Bitget, CoinEx, LBank, Bibox, MEXC Global, Bybit, Huobi Global, OKX, Kucoin, and Gate.io.

Course performance

LUNA 2.0 opened on May 28, 2022 with a trade price of $18.98, reached a monthly high of $19.54 on the same day, then tested a monthly low of $4.85 on May 29.

The token ended May with a transaction price of $8.88. Overall, this equates to a 53% drop between the open and close price of the coin.

Source: LUNA 2.0/USD chart – CoinMarketCap

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