IT’S OVER: Binance Has Delisted LUNA

May 12, 2022 10:15 pm

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.

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.

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/BTC

Isolated 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

 

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.

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.