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  • Andy Katz

Terra Luna 2.0 and Luna Airdrop

After experiencing one of the most tragic collapses in crypto history, the

Terra Blockchain is back. That’s right - Terra is Terra again, with a few

changes. The original Terra blockchain, which fell apart in early May when

the $UST stable coin lost its peg, is still an active blockchain that was

renamed as ‘Terra Classic’, and the original $LUNA coin now trades as

$LUNC (Luna Classic). The Terra 2.0 blockchain, which is a new

blockchain and not a fork of the original, officially launched on May 28th,

at 6:00am UTC, when block 1 was produced. The news was announced

on @Terra_Money’s verified Twitter account, marking “the next chapter

for the Terra community” and calling for ''#LUNAtics'' to come build the

new ecosystem. Speaking of #LUNAtics, $LUNA holders were rewarded with an Airdrop of

the new $LUNA coin - based on snapshots of their $LUNA holdings pre

and post-depeg. The Airdrop came with a few problems of its own. On

May 30th, @Terra_Money put out a Twitter statement that read,

“We are aware that some have received less $LUNA from the airdrop than expected & are actively working on a solution…”

$LUNA holders were noticeably upset. Many took to Twitter and Reddit to

share stories of how much money they lost in the collapse, and how little

they received back in compensation from the Airdrop.


The new $LUNA coin hit the markets trading at $17.90. It experienced a

sharp rise in price, reaching an ATH of $19.54. The high was short lived -

within a matter of hours the green turned red and the price crashed to an

ATL of $3.63. At time of writing, $LUNA is trading at $5.16.

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