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Binance Liquid Swap Closes All Liquidity Pools For Terra (LUNA)

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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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The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Mark Brennan
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.


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