Welcome to our recap of the major stories in the crypto world! Here’s what has happened over the past week:
Terra 2.0 airdrop commences
The new LUNA token has arrived, and most investors seemed to dump the token after they received their airdrop.
With the new LUNA variant tanking more than 69% since its launch on May 28, investors are waiting to see what happens once Binance starts its multi-year airdrop plan on May 31. https://t.co/xCu7OHTHgc
— Cointelegraph (@Cointelegraph) May 30, 2022
So far, only 30% of the entire supply has been distributed to every wallet.
The remaining 70% of the new LUNA tokens will be distributed between November 2022 and November 2024.
There is a 6 month cliff period (May — November) before the new tokens are vested, which follows the same cliff and vesting schedule as some of the projects on our launchpad, KrystalGO.
Most of the prominent centralised exchanges have already listed this token.
It may be quite confusing as some exchanges list the new token as LUNA2, while others list it as LUNA.
Full airdrop details ⤵️https://t.co/SSFL6BNvzb
— Binance (@binance) May 28, 2022
OP token is now live
Let the claims (officially) begin! 🔴‿🔴 pic.twitter.com/9NgqyyQgiy
— Optimism (✨🔴_🔴✨) (@optimismFND) May 31, 2022
You can qualify for this token airdrop if you meet certain criteria, such as:
- Early adopters of Optimism
- Active Ethereum governance participation
To find out if you qualify for this airdrop, you can connect your wallet to the Optimism website.
Singapore’s stance on crypto
At the Asia Tech x Singapore 2022 Summit, Singapore’s Deputy Prime Minister Heng Swee Keat mentioned that retail investors should “steer clear of cryptocurrencies” as they are extremely risky.
— CNA (@ChannelNewsAsia) May 31, 2022
While Singapore is working with blockchain and digital asset players to encourage innovation, the stance is rather clear on retail investing in such assets.
Interestingly enough, in a social media post by the Central Provident Fund (CPF) in Singapore, they were seen to accept NFTs as part of a diversified investment portfolio.
🇸🇬 Singapore's Public Pension Fund ($360 billion in assets) recommends NFTs as part of a diversified portfolio pic.twitter.com/t6MZ8r2kEU
— Blockworks (@Blockworks_) May 26, 2022
Pay with crypto at Chipotle
Chipotle is now accepting crypto payments at their United States restaurants.
BREAKING: Chipotle is now accepting #Bitcoin and other cryptocurrencies as payment methods.
— Watcher.Guru (@WatcherGuru) June 1, 2022
The Mexican grill restaurant has partnered with Flexa to offer cryptocurrency payments, such as BTC and LTC.
— Litecoin (@litecoin) June 1, 2022
As more companies start to accept cryptocurrencies, this will help with greater adoption by more users.
FTX overtakes Coinbase
FTX now has a greater trading volume compared to Coinbase.
FTX surpassed Coinbase as second-biggest centralized crypto exchange in Mayhttps://t.co/2yjmuSF98B
— The Block (@TheBlock__) June 1, 2022
While still paling in comparison to the trading volume on Binance, FTX is now the 2nd ranked Spot exchange on CoinMarketCap.