Binance Luna 2.0 support has now been confirmed, with the exchange planning to list the cryptocurrency and participate in the airdrop.
Binance first announced its support for the new chain following the Terra Luna vote result, which saw 65 percent vote in favor of a new chain. With the release of Luna 2.0, the timing of this listing has been confirmed.
With Binance temporarily halting Luna trading due to the Luna crypto crash, here’s the latest on Binance Luna 2.0.
The team is working flat out to distribute the $LUNA airdrop to #Binance users.— CZ 🔶 Binance (@cz_binance) May 28, 2022
We have a big user base, so please bear with us as we process the airdrop. Need a bit of time to execute. Thanks 🙏 https://t.co/m9SOcMQT8P
Binance Luna 2.0 Listing
Following the airdrop, Binance has announced that Luna 2.0 will be listed in its Innovation Zone on May 31.
According to a blog post, the CEX will add LUNA/USDT and LUNA/BUSD pairings to this area on May 31 at 5:30 AM UTC.
In comparison to other exchanges, the listing appears to be rather late. Many of the crypto exchanges on the Luna 2.0 list have already added the new Luna to their trading platforms.
The Innovation Zone, according to Binance, is a place where “users can trade new tokens that may have increased volatility and pose a higher risk.”
“Terra 2.0 (LUNA) is a new token that may pose a higher-than-normal risk and, as such, may be subject to price volatility,” it added.
Binance has also stated that as part of the Terra Classic chain, it will continue to support Luna Classic. This will be the existing Luna coin, which was left behind after the Terra 2.0 migration. LUNC trading will resume on May 30, with many LUNC holders hoping for a price increase. LUNC has already reached 100% in 24 hours.
Binance, on the other hand, issued a warning to Luna holders about the disappearance of coins from their accounts, telling them not to be alarmed.
“Current Luna (old) holders may notice coins disappearing from wallets,” Binance said in a tweet. “Please do not be concerned. This is in preparation for the transition to LUNC and the upcoming airdrop of Terra 2.0.”