IT’S OVER: Binance Has Delisted LUNA
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May 12, 2022 10:15 pm
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It’s over for Luna…
Yesterday evening Binance sent out an emergency tweet which declared if Luna dipped under $0.005 then it would then be delisted.
Well, earlier today Luna did exactly that and it dipped to a staggering $0.002438.
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In response, Binance sent out a tweet stating “Binance will remove and cease trading on the BUSD-Margined Perpetual Contract: LUNA/BUSD trading pair at 1:30 am UTC, May 13”.
Besides being delisted off of Binance Luna has also been removed from a slew of others too.
Binance will remove and cease trading on the following spot trading pairs at 12:50am UTC, May 13:
🔸BTC/UST
🔸LUNA/UST
🔸ETH/UST
🔸BNB/UST
🔸UST/USDTBinance will remove and cease trading on the BUSD-Margined Perpetual Contract: LUNA/BUSD trading pair at 1:30am UTC, May 13.
— Binance (@binance) May 13, 2022
Should the price of the LUNA/USDT contracts go below 0.005 $USDT, #Binance shall proceed to delist the contracts.
Any further information including the delisting time will be announced accordingly.
— Binance (@binance) May 12, 2022
Here’s a full statement from the Binance website:
Binance will remove and cease trading, close users’ positions, conduct an automatic settlement and cancel all pending orders on the following margin trading pairs at 2022-05-13 00:40 (UTC):
Cross Margin Pairs：LUNA/BUSD, LUNA/USDT, LUNA/BTCIsolated Margin Pairs：LUNA/BUSD, LUNA/USDT, LUNA/BTC, LUNA/ETH, LUNA/UST
Binance will remove and cease trading on the following trading pairs at 2022-05-13 00:40 (UTC):
Spot Pairs: LUNA/BTC, LUNA/BIDR, LUNA/AUD, LUNA/BNB, LUNA/ETH, LUNA/USDT, LUNA/GBP, LUNA/BRL, LUNA/TRY and LUNA/EUR
Binance will remove and cease trading on the following trading pairs at 2022-05-13 00:50 (UTC):
Spot Pairs: BTC/UST, LUNA/UST, ETH/UST, BNB/UST, UST/USDT
Binance will remove and cease trading on the following trading pair at 2022-05-13 01:30 (UTC):
BUSD-Margined Perpetual Contract: LUNA/BUSD
BREAKING: #Binance has delisted $LUNA.
— Watcher.Guru (@WatcherGuru) May 13, 2022
Cointelegraph had these details to share:
Major crypto exchange Binance announced it will be delisting its Tether (USDT)-margined Terra (LUNA) futures contracts following a more than 99% drop in price.
In a Thursday blog post, Binance said it would be taking “precautionary measures” around its LUNA/USDT perpetual contracts, intending to delist the pair if the price goes under 0.005 USDT. The announcement followed the exchange changing the leverage and margin tiers for the LUNA-tied contracts on Wednesday, with the maximum leverage set at eight times for positions under 50,000.
In addition, Binance said it would be launching Binance USD (BUSD)-margined LUNA futures contracts on Thursday, seemingly as an alternative investment vehicle should it delist LUNA/USDT. According to the exchange, it has experienced “slowness and congestion” causing a large number of Terra network withdrawal transactions to be marked as pending.
The LUNA price has fallen more than 99% in the last 24 hours, reaching $0.004 at the time of publication following a mass sell-off. The volatility has affected many tokens across the crypto market, with Bitcoin (BTC) dropping under $27,000 to a 16-month low and Ether (ETH) under $2,000 for the first time since July 2021.
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