News

UST, LUNA Volumes Skyrocket As Terra 2.0 Airdrop Approaches

Trading in Terra's UST and LUNA tokens surged on Thursday after the blockchain's revival plan and airdrop was officially approved.
Published by
UST, LUNA Volumes Skyrocket As Terra 2.0 Airdrop Approaches

The Terra community has finally voted over the proposal 1623 to revive the chain from the recent debacle. As per the suggestion, eligible holders will get the airdrop of LUNA over the new chain. Over this major update, the TerraUSD, the meant to be stablecoin, has registered a massive surge in its 24 hour trading volume.

Advertisement

UST prices up by 43% over 24 hrs

The UST is trading at an average price of $0.097, at the press time. TerraUSD prices have jumped by over 43% in the last 24 hours. Meanwhile, UST’s 24 hour trading volume has jumped by a whopping 327% to stand at $230.5 million. As per the announcement, Terra’s new chain will give out new LUNA tokens to Luna Classic and UST holders.

The amount of Luna token one will receive will totally depend on the holder of the token held on the Terra classic chain. It will be based on Pre attack and Post attack snapshots of the number of coins held.

According to the proposal, the community pool will get the 30% of the token distribution. Pre attack LUNA holders will be getting the biggest portion of airdrop i.e 35%. While Post attack UST holders will obtain 15% of it. However, the Pre attack aUST holders and Post attack Luna holders will acquire 10% of the announced airdrop.

Advertisement

LUNA’s 24 hr trading vol up by 60%

Meanwhile, the Terra LUNA 24 hour trading volume has also seen a jump of over 60% to stand at $907 million. There is no such price improvement in the token. However, it is still holding a market cap of over $1.06 billion.

Terra has mentioned that they would be working with crypto exchanges like Binance, Bybit and BitFinex to issue the new tokens. However, the airdropped LUNA will be vested automatically to Terra validators. This is done in order to maintain network security. The holders can earn staking rewards on their vesting LUNA. However, they can claim these rewards at any point.

Advertisement

Share
Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Trump Picks SEC Crypto Counsel Michael Selig to Lead CFTC Amid Crypto Oversight Push

Michael Selig is the latest candidate who has been chosen by President Donald Trump to…

October 25, 2025
  • News

First Spot XRP ETF Hits Milestone as CME Flags Institutional Interest

Institutional momentum in XRP is accelerating as the first U.S. spot XRP ETF ($XRPR) reached…

October 25, 2025
  • Price Analysis

Can Hype Price Hit $50 After Robinhood Listing?

HYPE, the native token of the decentralized exchange Hyperliquid, has witnessed a notable price surge…

October 24, 2025
  • News

XRP News: Ripple Unveils ‘Ripple Prime’ After Closing $1.25B Hidden Road Deal

In the latest XRP news, Ripple has introduced 'Ripple Prime,' which it plans to integrate…

October 24, 2025
  • News

Traders Price In Two More Fed Rate Cuts This Year After Soft Inflation Data

Traders are betting on the FOMC to make two more rate cuts this year following…

October 24, 2025
  • News

Crypto.com Joins Ripple in Banking License Bid Amid Industry Push for Market Structure Bill

Crypto.com has submitted an application with the U.S. National Trust Bank Charter. It aims to…

October 24, 2025