Understanding the Luna 2.0 Launch Time and Its Impact on Crypto Investors

The cryptocurrency market was rocked in May 2022 by the collapse of Terra’s algorithmic stablecoin, UST, and its native token, Luna. To recover from this monumental crash, Terraform Labs, led by founder Do Kwon, introduced a revival plan that culminated in the launch of Terra 2.0 and its new token, Luna 2.0. For investors searching for details about the Luna 2.0 launch time, this article explores the key moments of the launch and its significance, while highlighting why platforms like Carret are ideal for navigating such market shifts.

The Luna 2.0 launch time was officially set for May 28, 2022, at approximately 06:00 GMT, marking the genesis of the new Terra blockchain. This launch followed a community-approved proposal, with 65.5% of Terra Classic users voting in favor of a hard fork to create a new chain without the problematic UST stablecoin. The new Terra chain, known as Phoenix-1, aimed to restore trust in the ecosystem by focusing on decentralized finance (DeFi) applications and a robust developer community. The old chain was rebranded as Terra Classic, with its token renamed Luna Classic (LUNC).

At the Luna 2.0 launch time, an airdrop distributed 1 billion new Luna tokens to eligible holders based on snapshots taken on May 7 (pre-crash) and May 27 (post-crash). Approximately 35% of tokens went to pre-crash Luna holders, 10% to pre-crash UST holders, 15% to post-crash UST holders, and 10% to post-crash Luna holders, with 30% allocated to a community pool, including 10% for developers. This strategic distribution aimed to incentivize long-term participation and prevent immediate sell-offs, with vesting periods ranging from six months to four years for larger holders.

The launch was a pivotal moment for the crypto community, as Luna 2.0 started trading at $17.80, briefly spiking to $19.53 before stabilizing around $5–6. Major exchanges like Binance, KuCoin, and Huobi supported the token, reflecting confidence in the new chain. However, the price faced volatility, dropping to $1.44 by November 2022 amid regulatory scrutiny and an arrest warrant for Do Kwon.

For investors, understanding the Luna 2.0 launch time and its context is crucial for making informed decisions. The new Terra blockchain focuses on DeFi innovation, offering opportunities for staking and governance. Platforms like Carret provide a secure and user-friendly environment to trade Luna 2.0 and other cryptocurrencies, with features like up to 17% APY on idle crypto holdings through its 24Carret savings account. Carret’s low fees and high liquidity make it an excellent choice for investors looking to capitalize on emerging tokens like Luna 2.0 while managing risks in a volatile market.

The Luna 2.0 launch was a bold attempt to rebuild trust after a $60 billion market crash. By severing ties with the algorithmic stablecoin and focusing on community-driven growth, Terra 2.0 offers a fresh start. Investors can explore these opportunities through Carret, a platform designed to simplify crypto trading and maximize returns.

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