Binance Completes Airdrop To Terra Classic (LUNC) And USTC Holders, Price Jumps – Crypto News – Crypto News
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Binance Completes Airdrop To Terra Classic (LUNC) And USTC Holders, Price Jumps – Crypto News

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The world’s largest crypto exchange Binance completes the second round of Terra (LUNA) airdrop distribution to Terra Classic (LUNC) and TerraClassicUSD (USTC) holders on Thursday. The air drop is related to the separation of the Terra Classic network under the “Terra Ecosystem Revival Plan 2” by Do Kwonwith the first airdrop already completed in May.

Binance Airdrops Terra (LUNA) Tokens To Terra Classic (LUNC) and USTC Holders

In an official announcement On December 22, Binance has completed the second round of Terra (LUNA) airdrop distribution to eligible users who held Terra Classic (LUNC) and TerraClassicUSD (USTC) as per the snapshot. The snapshot timings are May 7 at 14:59:37 UTC (pre-attack) and May 26, 2022 (post-attack).

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Binance will distribute the remaining Terra (LUNA) airdrop distributions from December 2022 or June 2023, as per the distribution plan. This will take 24 to 48 months for the full distribution of Terra (LUNA) tokens.

Users can confirm the receipt of airdrop LUNC tokens on the Distribution page of their spot wallets. Also, users are requested to unselect “Hide 0 balances” to view LUNA tokens in spot wallets.

Furthermore, Binance will not announce the completion of subsequent Terra (LUNA) airdrops after this announcement. Also, the airdrop is not valid for US persons, entities, and sanctioned countries.

The crypto exchange completed the first airdrop in May, which was 30% of the total airdrop distribution. The remaining 70% will be distributed over 24 months.

Also Read: Terra Classic Validator ClassyCrypto Burns 13 Million LUNC

LUNC Price Jumps After Airdrop

The Terra Classic price jumped over 5% in the last 24 hours as a result of the airdrop. The Terra Classic (LUNC) and USTC will likely be selling Terra (LUNA) tokens to pump up LUNC and USTC prices.

The LUNC price is trading at $0.0001339. The 24-hour low and high are $0.0001269 and $0.0001405, respectively. The USTC price trades at $0.0206, up nearly 4% in the last 24 hours.

Meanwhile, the Terra (LUNA) price is trading at $1.25, down nearly 1% after recording a pump and dump in the last 24 hours.

Also Read: Is The Bottom Already In For Terra Classic Coin?

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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