The major crypto exchange same on Thursday it might delist the commerce combine if the value fell beneath 0.005 USDT, that has already happened.
Major crypto exchange Binance declared it'll be delisting its Tether (USDT)-margined Terra (LUNA) futures contracts following a quite 99% call value.
In a Thursday web log post, Binance said it might be taking “precautionary measures” around its LUNA/USDT perpetual contracts, aiming to delist the try if the worth goes under 0.005 USDT. The announcement followed the exchange dynamical the leverage and margin tiers for the LUNA-tied contracts on Wednesday, with the most 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, on the face of it as an alternative investment vehicle ought to it delist LUNA/USDT. in keeping with the exchange, it's veteran “slowness and congestion” inflicting an outsized range of Terra network withdrawal transactions to be marked as unfinished.
The Luna value has fallen over 99% within the last twenty four hours, reaching $0.004 at the time of publication following a mass sell-off. The volatility has affected several tokens across the crypto market, with Bitcoin (BTC) dropping below $27,000 to a 16-month low and Ether (ETH) below $2,000 for the primary time since July 2021.
Amid extreme market volatility, several exchanges have self-addressed FUD rumors current on social media concerning user funds. Celsius Network CEO Alex Mashinsky told his Twitter followers on Wed that the platform “has not veteran any important losses and every one funds are safe.” Coinbase CEO Brian Armstrong equally told exchange users that the corporate has “no risk of bankruptcy.”
( Turner Wright, Cointelegraph, 2022 )