Since Binance announced plans to offer perpetual contracts with the renamed token, Terra LUNA has seen a significant price increase. Terra is ranked 213 in the charts at the time of writing, with a 58 percent price increase in the last 24 hours. It is currently worth $0.00013.
The Binance cryptocurrency exchange made an announcement that triggered the surge. According to the announcement, Binance Futures will launch perpetual contracts with a 20x leverage. In addition, the contracts will have a BUSD margin. Essentially, the BUSD will be used as collateral, with users able to use USDT as a margin.
“BUSD perpetual contracts are BUSD-margined futures contracts that use BUSD as collateral. Users will be able to select between 1-20x leverage.”
Binance confirms Terra 2.0 listing: Binance will list Terra 2.0 (LUNA) in the Innovation Zone and begin trading for the LUNA/USDT and LUNA/BUSD trading pairs 2022-05-31 06:00. (UTC).
Exchanges still support Terra (LUNA)
In addition to Binance, other cryptocurrency exchanges have expressed interest in supporting Terra LUNA after the new blockchain goes live on May 27. After the launch, users who held LUNA before the price crash received an airdrop of the new tokens as compensation.
The old LUNA tokens were renamed LUNA Classic, while the new coins kept the LUNA name. The new was created following a vote by the Terra community last week. While some members opposed the idea during preliminary voting, a majority approved the proposal after Terra’s founder, Do Kwon, tabled an amended version.
Binance suspended trading of Terra LUNA after its price plummeted from more than $110 to $0.0001. However, on May 31, the exchange intends to reopen LUNA deposits and withdrawals.
Aside from Binance, the following exchanges support Terra 2.0 and its airdrop:
Kraken, Huobi Global, Bitrue, Bybit, HitBTC, Okcoin, OKX Gateio KuCoin, LBank, Cryptocom, FTX, Bitfinex, Bitget, and MECX Global are among the cryptocurrency exchanges.
LUNA trading volume increases
Terra LUNA’s trading volume appears to have increased significantly in the last 24 hours. It is now worth $278.9 million, a 315 percent increase. In addition, the tokens market cap has increased by 60% to $892 million. The new TerraClassicUSD stablecoin is trading at $0.026.