Luna 2.0 Price: Terra Luna Holders Await The Pricing Of Luna 2.0 After Launch
Prospective Luna 2.0 owners are impatiently anticipating the first Luna 2.0 price, which will be released on May 27.
Current Luna Classic holders will receive an allocation of the 1 billion new Luna on the new chain, with support for the Luna 2.0 crypto exchange growing and the airdrop ready to launch.
So, with the Luna crypto meltdown still fresh in the memories of many Luna investors, what do we know about the new coin's price?
Price of Luna 2.0
There is no set pricing for Luna 2.0, and no one will decide it at the genesis block. Rather, it is highly dependent on market conditions and demand for the new Luna.
While various social media posts and "expert insights" have predicted the price of Luna 2.0, no one can guarantee a specific price for the new coin.
The decision to create 1 billion of this new Luna will account for a large portion of the Luna 2.0 price. This is a considerable reduction from the current Luna circulation supply of 6.5 trillion. However, it is still more than three times as many as it was prior to the collapse.
Owners of Luna 2.0 coins will not be able to cash out all of their new coins instantly, regardless of the price. Holders will receive 30% of their airdrop on May 27 to help with the Luna recovery, according to Terra. The remaining Luna will be vested and staked, with the first phase of unlocking expected in six months at the earliest.
Market capitalization of Luna 2.0
Many new investors will check the Luna 2.0 market cap to have a better picture of where the cryptocurrency stands in comparison to other cryptocurrencies. Luna Classic has a market capitalization of $882 million at the time of writing. It has dropped 32% in the last 24 hours, most likely due to the impending debut of the new chain.
With a circulating supply of 1 billion, Luna 2.0 would need a price of $3 to reclaim a market valuation of $30 billion, which it lost at the end of April.
The vesting time, on the other hand, means that the number of coins in circulation at launch will be far less than 1 billion. Some whales with big quantities of Luna may have to wait over a year to get their vested Luna.
For the first year, this might vary from 116 million to 182 million Luna, according to one estimate. This is, of course, neither proven nor promised.
When Luna 2.0 becomes live on the new Terra chain, we'll keep this page updated with further information.