- Binance, HitBTC, Huobi and Bitfinex are the leading cryptocurrency exchanges working with Terra on the launch of LUNA 2.0, Terra hard fork.
- LUNA price could wipe out losses incurred by holders in the colossal crash of LUNC and UST.
- Exchanges have thrown their weight behind Do Kwon’s proposed rebirth of Terra network and the upcoming airdrop for LUNA and UST holders.
Cryptocurrency exchanges are on board Terra’s LUNA hard fork and Do Kwon’s plan for the Terraform Labs token’s rebirth. Do Kwon has garnered support from leading cryptocurrency exchanges for the new Terra chain.
Also read: Terra’s recovery plan continues despite South Korean authorities pressure on Do Kwon
Crypto exchanges welcome Terra’s LUNA chain
Terraform Labs’ sister tokens LUNA and UST witnessed the first “crypto bank run '' in history after the algorithmic stablecoin depegged. Co-founder Do Kwon wasted no time in coming up with a revival plan for LUNA, without UST, proposing a new chain.
While the community has criticized the hard fork, Terraform Labs considers it a “genesis”, birth of a new Terra LUNA chain that does not share history with the previous blockchain.
Cryptocurrency exchanges that previously delisted or pulled support for Terra’s LUNA, during the event of the crash have welcomed the new chain. The world’s largest cryptocurrency exchange Binance was among the first few platforms to delist Terraform Lab’s tokens from the futures exchange.
Binance recently revealed that they are working “closely” with Terra on the LUNA 2.0 recovery plan.
The Terra community just passed a vote to ‘Rebirth Terra Network’.
We are working closely with the Terra team on the recovery plan, aiming to provide impacted users on Binance with the best possible treatment. Stay tuned for further updates.
— Binance (@binance) May 25, 2022
