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Luna binance news9/6/2023 ![]() ![]() Shortly after Binance sent its tweet, Terra shut down its entire network and left the circulating supply of 34 billion LUNA in limbo, and then turned it back on about two hours later. Eastern, the company is delaying the resumption, and plans to announce a new time shortly. Binance warned Thursday that it would delist the LUNA/Tether trading pair if LUNA’s price fell below 0.005 Tether, or about half a penny. While initially slated to relist at 2:00 p.m. Tweets from Binance this morning show that it will be resuming LUNA and UST spot trading at some point. If there’s any bit of good news to come out of this, it’s that Binance isn’t entirely abandoning the Terra network. This did indeed happen, leading to Binance yanking the cryptos off its platform this morning. The world’s largest exchange announced yesterday that it would delist LUNA and UST if LUNA’s price fell below $0.005. In the last 24 hours, LUNA has dropped over 99.9%, bringing prices to a very small fraction of a cent.Īnd yesterday, Binance did the network no favors. While the move is well intentioned and makes sense, it is not doing the floundering currency any favors. The developers are explaining that this is a means to keep any users from buying up massive wallets of the LUNA crypto and taking control of the network. No data can be added to the chain, meaning transactions and any sort of dapp activity is frozen in time. These events have ultimately led the Terra team to halt all activity on the network’s blockchain. The coin had gone from nearly $80 to 1 cent in five days.īinance Delists the LUNA Crypto After Blockchain Halt By this point, though, LUNA crypto prices had already gone lower than anybody could have predicted. Ultimately, founder Do Kwon filled in Terra users on a plan yesterday. And while the network continued its downward spiral, investors became increasingly concerned by a lack of clarity or a plan from developers. By Tuesday, UST prices dropped to 30 cents LUNA prices were down more than $50 since Saturday. In fact, UST and LUNA prices only further spun out of control. Since then, developers have been doing damage control, using capital from its Bitcoin ( BTC-USD) reserve, as well as $750 million UST, to lend out to exchanges and hopefully restabilize prices. Trouble began for Terra over the past weekend, when the network’s TerraUSD ( UST-USD) stablecoin fell from its $1 peg. News of a major delisting is now adding salt to the wound, cutting off buyers from the project while it remains on life support. ![]() A top 10 coin dropping to a worthless value in the matter of days is a cruel reminder of just how fast a crypto player can slip into obscurity. As per CoinMarketCap, LUNC’s price went down by 2% in the last 24 hours, and at the time of writing, it was trading at $0.0001822 with a market capitalization of over $1 billion.The Terra network’s rapid decline this week is one of the biggest campfire horror stories for crypto believers. LUNC Price History USD LUNC Price Information 24h Low & High Low: 0.0000868 High: 0.0000905 All Time High 119.18 Price Change (1h) -0.4 Price Change (24h) -0.83 Price Change (7d) +4. Terra Classic is -0.83 in the last 24 hours with a circulating supply of 5,811.78B. However, Binance’s announcement did not seem to affect LUNC much, as its daily chart registered a decline. LUNC to USD price is updated in real-time. This upgrade is a state breaking fix made to the upgrade keeper that stores the current version map of the modules in the application’s memory. According to the announcement, the network upgrade will take place at the Terra Classic block height of 11,543,150, which is estimated to happen on 14 February.īinance Will Support the Terra Classic (LUNC) Network Upgrade #LUNC #LunaClassicHQ #LUNACLASSIC On the same note, on 6 February, Binance revealed that it will support LUNC’s latest network upgrade. Market indicators and metrics were bullish.Ī few days ago, Terra Classic announced its plans to launch a new upgrade, titled v1.0.5. ![]()
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