New Terra (LUNA) opens on Bybit and plunges 80%

Bybit Terra LUNA

Trading of the long-awaited LUNA cryptocurrency on the new Terra blockchain began on Bybit at a price of $30. The digital asset saw a precipitous decline in the same market, falling 88 percent to $3.5 before rallying to settle at $6, an 80 percent loss from its local high.

The chart below, provided by, illustrates the volatility of the new MOON.


Binance is listing Terra (LUNAvolatility) in the innovation zone due to its volatility. LUNA/USDT and LUNA/BUSD trading will not resume until May 31 at 6am UTC.

The Binance Innovation Zone is a dedicated trading area that allows users to trade innovative tokens that are prone to price fluctuations.

Before being allowed to trade digital assets in the innovation zone, Binance users must first review the Binance Terms of Use and then complete a questionnaire that is part of the Initial Disclaimer.

Terra 2.0 debuted today alongside Phoenix 1 Mainnet

On May 28 at 6 am UTC, the team successfully launched Terra (LUNA). The Terra-led team has also revealed the chain identifier for the new blockchain, which is “Phoenix 1”.

The announcement of Terra’s debut was made via the team’s Twitter.

The Terra community was informed of the new chain by Do Kwon, who stated: “The Pheonix-1 mainnet is currently up and producing blocks – public node services, wallets, and explorers should go up shortly.”