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BTC $29704.40 (1.06%)
ETH $2032.37 (0.37%)
USDT $0.99 (0.05%)
BCH $207.93 (3.91%)
BSV $52.42 (1.44%)
LTC $68.02 (0.11%)
BNB $293.09 (2.70%)
ADA $0.54 (3.85%)
DOGE $0.08 (-1.0%)

Binance Resumes Spot Trading for LUNA and UST Post Crash

Binance Terra News
    • Binance has resumed spot trading for LUNA and UST.
    • The day before, the exchange halted all trading involving the said cryptocurrencies.
    • From an ATH of $119, LUNA is last seen trading at $0.00005.

Binance crypto exchange has announced that it resumed spot trading for LUNA/BUSD and UST/BUSD trading pairs. Starting today, 14:00 (UTC), the exchange has recommenced spot trading. Additionally, deposits and withdrawals for LUNA and UST will also be unbolted simultaneously with the trading.

In detail, Binance unrolled this decision following Terra’s tweet that it has resumed block production on May 13, 2022.

More Significantly, LUNA shook the crypto world when its price value plummeted to a worse stage. As of now, LUNA is registered at a price of $0.00005108, with a nearly 99% downtick.

Along with the latest market dip, LUNA has crashed massively during the last couple of days. From an all-time high of around $119, LUNA crashed down to the above-mentioned price at the moment of writing this article.

The price demise of LUNA was accompanied with the stablecoin TerraUSD crash, which went down to $0.1 at the current moment. One might argue that the crash of TerraUSD led LUNA to fall to unimaginable lows.

Yet with all that happening during the last week, LUNA seems to be recovering. Do Kwon, the founder of Terraform Labs, announced its recovery plans in a series of tweets.

Bahira Maisoon is a researcher and writer for CoinQuora. She specializes in covering news and writing about blockchain and crypto assets to introduce people of all ages to the world of digital assets.