Binance Liquid Swap Closes All Liquidity Pools For Terra (LUNA).
Binance announced that the exchange Liquid Swap has closed all liquidity pools for LUNA. The swap function for LUNA trading pairs has also been disabled.
Impacted Liquidity Pools: LUNA/BUSD, LUNA/BNB, And LUNA/USDT
Binance Users can redeem their assets from the above liquidity pools if they have positions. Binance warns users not to continue adding funds to the above liquidity pools. Binance also assures users that their funds are Safu.
Binance Liquid Swap is based on a pool of liquidity. There are two tokens in each pool, and the relative amount of tokens determines the price between them and can always be traded as long as there are corresponding tokens in the pool. Binance Liquid Swap offers more stable prices and lower fees for large transactions.
Today binance also confirmed that they 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.
Cross Margin Pairs：Luna/Busd, Luna/Usdt, Luna/Btc
Isolated Margin Pairs：Luna/Busd, Luna/Usdt, Luna/Btc, Luna/Eth, Luna/Ust
Users can still trade the luna on other trading pairs that are available on binance：luna/busd and luna/ust.
Yesterday Binance Decided To Halt Terra (LUNA) Futures Trading.
The strict decisions from the world’s top exchange are coming after Terra (Luna) has lost 57% of its market cap and 99% of its value currently trading at $0.00004411 in two days.
Read More on Terra And UST Crisis:
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- Crypto Pundit Peter Brandt Slams Terra (LUNA), Says The Only Trustworthy Crypto Is Bitcoin
- Terra Sacrificing LUNA to Save TerraUSD (UST) Forces Coin to Plunge Below $
- Binance Decides To Halt Terra (LUNA) Futures Trading
- Terra (LUNA) Loses Nearly $39B Market Cap In 5 Weeks, Crypto Users Lament
- Terra (LUNA) Falls Over 85% In Weeks, Losses Position In Top 25
- LFG Poised to Maintain TerraUSD (UST) $1 Peg as the Organization Reportedly Raises Additional $2 Billion