Binance, the world’s largest cryptocurrency exchange by trading volume, made statements covering the most talked-about altcoin Terra (LUNA), the stablecoin of the Terra ecosystem UST, and various altcoins. Here are the details…
Some LUNA and UST parities are delisted
Binance, on May 13, 2022 at 15.50 Turkish time BTC/UST, LUNA/ UST has announced that it will remove and stop trading on ETH/UST, BNB/UST, UST/USDT spot trading pairs. On the other hand, BUSD also announced that it will stop trading on the LUNA/BUSD pair on a margin perpetual swap.
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
Liquidity pools closing
In addition, Binance announced that its Liquid Swap platform has closed all liquidity pools with LUNA. LUNA’s swap function for trading pairs has also been disabled. The liquidity pools affected were LUNA/BUSD, LUNA/BNB and LUNA/USDT. Binance Users can use their assets from the above liquidity pools if they have positions. Binance warns users not to continue adding funds to the above liquidity pools. As we have also reported as
Kriptokoin.com , Binance Liquid Swap is based on a liquidity pool. There are two tokens in each pool and the relative amount of tokens determines the price between them and can always be exchanged as long as there are corresponding tokens in the pool. Binance Liquid Swap offers more stable prices and lower fees for large transactions.
Deposits and withdrawals on the Terra network suspended
Meanwhile, the Terra network stopped at a block height of 7,607,789. According to Binance’s statement, deposits and withdrawals for the Terra network have been temporarily suspended on May 13, 05:25 CEST. Once the network stabilized, Binance restarted deposits and withdrawals for the Terra network.
Binance Futures to remove perpetual swap feature in an altcoin
Binance Futures on ANC perpetual (perpetual) contract with USDT margin made an automatic contract and removed it from the list this morning at 7 pm. “Users are recommended to close open positions before the delist time to avoid automatic debits,” the exchange said.
Tick size adjusted for LUNA
Binance changed the tick size on the LUNA/BIDR trading pair yesterday evening for user experience during high volatility. Tick size, previously 1, has been reduced to 0.01. Binance has adjusted the tick size of this pair, that is, the minimum change in unit price.
