As a seasoned researcher with a decade of experience in the cryptocurrency market, I find myself intrigued by Binance’s decision to offer four times the leverage for Terra (LUNA) trading. This move comes amidst the bankruptcy of Terraform Labs and the extended support for the Terra Luna community by Binance.
Binance Update: Binance has boosted the maximum leverage for trading Terra (LUNA) by a factor of four. This decision was made as the exchange extends its backing to the Terra Luna community, following the bankruptcy of Terraform Labs. The prices of LUNA, LUNC, and USTC all surged in response to the significant buying interest within the broader cryptocurrency market.
Binance Offering Four Times Leverage on Terra Luna Trading
According to a recent statement from Binance, they’ve made changes to the borrowing power and required collateral levels for trading LUNA2USDT. This update includes an increase in the available borrowing power (leverage) and a decrease in the needed collateral percentage (margin rate). These modifications bring significant implications for the wider LUNC community.
The alterations were specifically designed to cater to traders aiming to invest in specific brackets: $0-$5,000, $5,000-$25,000, and $25,000-$100,000. In the first investment range, the exchange enhanced leverage from 11-20 times to 51-75 times, which signifies their endorsement of the Terra Luna price surge.
Moreover, Binance has made adjustments to the trading pairs for XEM/USDT, ORBS/USDT, LOOM/USDT, LUNA2/USDT, QNT/USDT, CHR/USDT, and JOE/USDT in their USD-M perpetual contracts.
LUNC News: Massive Bullish Momentum Signals
As an analyst, I’m observing a significant surge in bullish energy among Terra (LUNA), LUNC, and USTC, as their prices break through key support thresholds. The community is also actively advocating for additional token burns, particularly from wallets associated with Terraform Labs and the Luna Foundation Guard (LFG).
Terra (LUNA) price trades at $0.502, up 5% in the last 24 hours and 45% in a month. The 24 hour low and high are $0.4746 and $0.5036, respectively. Derivatives trading activity is on the rise amid Binance’s changes to leverage, as per Coinglass data.
Today, LUNC’s price surged by 6%, and it has risen by 33% this month. The current trading price is $0.0001221, with a peak of $0.0001234 in the last 24 hours. Similarly, USTC’s price has gone up by 10% over the past month. Notably, the trading volume has seen an uptick of 15% during the recent hours.
1) The combined total of LUNC futures open interest has exceeded 100 billion units, registering a growth of more than 10% within the past 24 hours. Moreover, the open interest for 1,000 LUNC futures contracts on Binance and Bybit individually has swelled by nearly 9%, suggesting increased buying activity among traders on these platforms.
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2024-11-29 16:27