Terra Price

Terra 2.0, or the new version of Terra, will no longer support stablecoins in its latest iteration, unlike the previous version, now known as Terra Classic or informally as Terra 1.0. The new Terra blockchain will support only LUNA as the primary digital asset for staking on its ecosystem.

The proof of stake blockchain network features innovative tech such as Mantlemint and Terra Station to offer an ecosystem with high transaction speeds, low transaction costs, and improved network security. The new Terra blockchain is designed to drive DeFi adoption while providing an attractive platform to develop Web 3.0 and NFT-based applications.

The new Terra network is an entirely different brand evolution from Terraform Labs, focusing on being a robust platform for dApps and their developers. On the other hand, Terra 1.0 or Terra Classic will continue to support stablecoins, driving the use of crypto and blockchain for payments worldwide.

Due to the significant difference in circulating supply, the Terra Classic token LUNC price differs vastly from the Terra LUNA price. The launch price of LUNA 2.0 was around $17.80, although the token trades well below this level as of March 2023. Higher adoption of the Terra ecosystem by dApps and users could drive up the Terra LUNA price and market cap.

It is impossible to make an accurate Terra LUNA 2.0 price prediction over any duration. However, we could see the price of LUNA 2.0 improve as the adoption of Terra’s ecosystem by dApp developers and end users grow in the future.

As of March 2023, the LUNA 2.0 price remains well below the all-time high that the old Terra (LUNA) 1.0 token has seen. While it may be an extremely challenging task for LUNA 2.0 price to touch the highest price of LUNA 1.0, it could make gains amid an uptick in investor confidence in Terra and an improvement in the overall market sentiment.

When the price of leading crypto assets like Bitcoin and Ethereum rise, the mood in the crypto market improves, and more buyers enter the space. Such a sentiment could power higher buying activity across the board and support LUNA price statistics, driving up the value of the Terra 2.0 native token.

According to the official confirmation by Proposal 1623, holders of the old LUNA (now LUNC) tokens, algorithmic stablecoin UST (now USTC) coins, and pre-attack aUST holders (UST staked on the Anchor Protocol) are eligible to receive airdrops of the LUNA 2.0 token.

The airdrops of the new tokens started immediately after the Genesis block's creation on the new Terra blockchain. 30% of the circulating supply of LUNA will be airdropped to users who held less than 10,000 LUNC before the attack or the de-peg of UST to US dollar. In addition, post-attack holders of LUNC, USTC, or both are eligible to receive airdrops of LUNA crypto.

Terra has also introduced the option of vesting LUNA to be unlocked over two years. The LUNA 2.0 tokens locked in vesting can fetch their holders staking rewards and be delegated to validator nodes within the network.

If you are eligible for LUNA 2.0 airdrop, you can receive the free LUNA in the following ratios:

1. Pre-attack LUNA holders get LUNA 2.0 at a percentage of around 1:1.1.

2. Pre-attach aUST holders will get LUNA 2.0 airdrop at a 1:0.033 rate.

3. Post-attack LUNA holders will receive LUNA 2.0 airdrops at the rate of 1:0.000015.

4. Post-attack UST holders will receive an airdrop of new LUNA tokens at a rate of 1:0.013.

30% of the LUNA 2.0 tokens you are eligible to receive will be airdropped at Genesis on 27 May 2022. The rest of your airdrop will be unlocked based on a linear vesting schedule spanning two years with a six-month cliff.

After buying LUNA on KuCoin or other exchanges, you can send your holdings to the native Terra Station wallet. All you need to do is withdraw your funds from your KuCoin trading account and send them to your external wallet.

1. Select the withdraw LUNA option in your KuCoin account. Enter the amount of LUNA you wish to transfer.

2. Enter your Terra Station wallet address as the destination address to which you wish to send your LUNA tokens.

3. Confirm the number of tokens and the withdrawal processing fee KuCoin will charge for the transaction before finalizing the withdrawal.

4. KuCoin charges a 0.1 LUNA fee on withdrawals, so ensure that you have sufficient funds in your account before withdrawing them to your Terra Station wallet.

Projects and assets running on the original Terra ecosystem will not automatically move to the new blockchain but will need to migrate themselves. Some of the leading dApps that have committed to the migration to Terra 2.0 include:

1. Astroport

2. Prism

3. RandomEarth

4. OnePlanet

5. Stader

6. Spectrum

7. Nebula

8. Anchor Protocol