February 4, 2023

The world’s largest crypto exchange Binance will complete the second round of Terra (LUNA) airdrop distribution to Terra Classic (LUNC) and TerraClassicUSD (USTC) holders on Thursday. The airdrop is related to the separation of the Terra Classic network under Do Kwon’s “Terra Ecosystem Revival Plan 2,” with the first airdrop completed as early as May.

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

In an official announcement on December 22, Binance completed the second round of Terra (LUNA) airdrop distribution for eligible users who owned Terra Classic (LUNC) and TerraClassicUSD (USTC) as per the snapshot. The snapshots are May 7 at 14:59:37 UTC (before the attack) and May 26, 2022 (after the attack).

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

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

In addition, 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 its first airdrop in May, which was 30% of its total airdrop distribution. The remaining 70% will be spread over 24 months.

Read also: Terra Classic Validator ClassyCrypto burns 13 million LUNC

LUNC Price Rises After Airdrop

The price of Terra Classic is up more than 5% in the last 24 hours due to the airdrop. The Terra Classic (LUNC) and USTC are likely to sell Terra (LUNA) tokens to boost 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 is trading at $0.0206, up nearly 4% in the past 24 hours.

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

Read also: Is the bottom already in place 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 quite some time and is currently covering all the latest updates and developments in the crypto industry.

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.

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