• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Sunday, June 8, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Terra Luna 2.0 Price Up 46% As Bitcoin and Ethereum Show Significant Growth

Kyle Portman by Kyle Portman
May 31, 2022
in News
Reading Time: 4 mins read
0
terra luna price pump
14
SHARES
Share on TwitterShare on Facebook

Cryptocurrency markets are starting to show bullish momentum as Bitcoin and Ethereum continue their pump for the second day in a row. After a relatively small gain of 11% yesterday, LUNA is up over 46% today, closing in on $10. Currently trading at $9.53, let’s look at any relevant news for Terra Luna 2.0 and see why the price is rising.

Terra Luna 2.0 Price Up 46%

As more exchanges announce support for LUNA 2.0, the cryptocurrency is starting to accumulate bullish momentum among traders.

In yesterday’s article on Terra Luna, Mark Arguinbaev from The VR Soldier mentioned that Binance will list Terra Luna 2.0 on May 31st in its innovation zone and open trading for LUNA/BUSD and LUNA/USDT trading pairs.

The recent Binance listing more than tripled the overall trading volume for LUNA 2.0 and contributed significantly to its growth over the past 24 hours.

In addition, the Bybit exchange announced a LUNA2USDT Perpetual Contract that will enable traders to trade LUNA 2.0 with leverage of up to 25X.

📣 Coming Soon: LUNA2USDT Perpetual Contract

âś… The LUNA2USDT Perpetual Contract is expected to go live on Bybit at 11AM UTC on May 31, 2022, with up to 25x leverage supported. Stay tuned! pic.twitter.com/Hm7vIZZSNm

— Bybit (@Bybit_Official) May 31, 2022

The Bybit announcement means even more trading volume and speculation for LUNA 2.0, which can amplify its current bullish momentum.

Moreover, since LUNA is an altcoin after all, and altcoins amplify BTC’s and ETH’s price movements since Bitcoin and Ethereum are showing significant price growth two days in a row, it only makes sense that LUNA continues its bullish price action.

LUNA is currently trading at $9.53, up over 46% in the past 24 hours. With a trading volume of $1.3 billion and a market capitalization closing in at $2 billion, LUNA isn’t showing any signs of slowing down.

KuCoin is still leading in trading volume based on the LUNA/USDT trading pair with $366 million. However, Binance has the highest trading volume for LUNA when looking at its USDT and BUSD trading pairs which account for over $585 million in trading volume over the past 24 hours.

Terra Classic (LUNC) Price Continues to Decline

On the flip side, the Terra Classic (LUNC) price is struggling this morning, as the cryptocurrency lost 16% in the past 24 hours.

Its market cap once again dipped below $1 billion, currently valued at $755 million with a declining 24-hour trading volume of $249 million.

With LUNA pumping, many traders are selling their LUNC tokens and buying LUNA instead.

Even if a significant portion of the Terra community might not agree with Do Kwon’s proposal, it’s clear that at this point, the winning token is LUNA. Especially since LUNA 2.0 almost doubled in price in the past 24 hours.

Moreover, unfortunately, major exchanges like Binance aren’t supporting LUNC, which further contributes to the lack of trading volume and the bearish momentum of LUNC.

Terra Classic is currently trading at $0.0001155, down over 16% in the past 24 hours.

Final Thoughts

As long as Bitcoin and Ethereum continue gaining momentum, we can expect LUNA 2.0 to amplify the crypto’s price action and rise in price.

However, as significant exchange listings have already happened, we can expect the trading volume for LUNA to start to decline later in the week, which could slow down its growth significantly.

At this point, it’s up to Do Kwon and the Terra community to continue to drive the market upwards and announce exciting news to keep the traders excited for LUNA 2.0. Whether in the form of new features, partnerships, or developments, depending on the plans the team and community decide for LUNA 2.0, for now, it seems the future is bright for the new token.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency.


Also Read:

Top 3 Metaverse Crypto Coins Below $80 Million Market Cap (May 2022)

Follow us on Twitter @thevrsoldier to stay updated with the latest Metaverse news!

Tags: Terra Luna
Previous Post

Top 3 Metaverse Crypto Coins Below $80 Million Market Cap (May 2022)

Next Post

Reasons For Bitcoin And Ethereum’s Recent Price Spikes

Related Posts

Featured

Trump vs Elon Musk: Dogecoin Tumbles on Market Fear

June 7, 2025
Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes
News

Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

June 6, 2025
Featured

Dow Rises, Tesla Drops After Musk-Trump Feud

June 5, 2025
Can XRP Hit $5? Technicals and Whales Say Yes
Market Analysis

Can XRP Hit $5? Technicals and Whales Say Yes

June 4, 2025
bitcoin btc
Featured

K33 Begins Bitcoin Buying with 10 BTC Purchase for Treasury Strategy

June 3, 2025
Binance Beats SEC—Crypto Cheers the Legal Victory
News

Binance Beats SEC—Crypto Cheers the Legal Victory

June 2, 2025

Press Releases

Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes
News

Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

by Alex Mercer
June 6, 2025

Introduction When Donald Trump and Elon Musk get into a digital brawl, you know something's about to break—and this time,...

Read more
Binance Beats SEC—Crypto Cheers the Legal Victory

Binance Beats SEC—Crypto Cheers the Legal Victory

June 2, 2025
Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

May 25, 2025
Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

May 23, 2025
Dogecoin’s Ready to Bark Again—Could $0.30 Be the Next Fetch?

Dogecoin Ready to Bark Again—Could $0.30 Be Next

May 20, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier