As a seasoned crypto investor with over a decade of experience navigating the digital asset landscape, I find myself standing at a crossroads following Gemini’s announcement to delist Terra Luna Classic (LUNC), along with Synthetix (SNX), Qredo (QRDO), and Zebec (ZBC).
Based on emails from sources close to the situation, Gemini, a popular cryptocurrency exchange, has disclosed its intention to remove Terra Luna Classic from its platform. Additionally, Gemini has identified Synthetix (SNX), Qredo (QRDO), and Zebec (ZBC) as other digital currencies that it plans to delist in the near future.
Gemini Announces Terra Luna Classic Delisting
As per an email from crypto exchange Gemini, they’ve chosen to remove Terra Luna Classic (LUNC) from their platform. This decision follows a comprehensive assessment of different digital assets currently listed on their exchange.
The cryptocurrency platform has decided to stop supporting Synthetix (SNX), Qredo (QRDO), and Zebec (ZBC) from its trading platform starting September 20. After this date, users will not be able to trade these digital currencies on the exchange. To ensure that their assets are secure, the exchange advises users to move their holdings of these cryptocurrencies to external wallets.
“Gemini stated that they regularly examine the markets of the different assets they manage. On occasion, they reevaluate whether certain assets should be listed on their exchange. After their latest evaluation, they’ve decided to carry out the steps mentioned earlier.”
Crypto community debates over the Terra Luna Classic (LUNC) delisting and claims the crypto asset mentioned by the exchange is wLUNA. Gemini mentions wLUNA as LUNC for no specific reason.
Earlier, Terraform Labs declared that they were reactivating the Shuttle Bridge, enabling users to swap wrapped assets on Terra Classic for their original counterparts. This exchange process will be available until a period of 30 days has elapsed.
LUNC Price To Drop?
As a cryptocurrency investor, I’ve noticed that LUNC has been moving within a range for the past week, but it experienced a 2% surge over the last 24 hours. The price dipped to $0.00007708 during this period and peaked at $0.00008072. Interestingly, there’s been a significant 45% increase in trading volume within the last day, coinciding with a broader recovery across the crypto market.
As a researcher, I posit that the delisting of Terra Luna Classic might exacerbate the current negative sentiment, but the ongoing market recovery and active development work could counterbalance this potential downturn.
At present, the value of USTC is on an upward trend, fueled by discussions about its re-peg. The current trading price stands at $0.0163, although it’s encountering resistance at $0.0165. Over the past day, there has been a 1% rise in USTC futures contracts being held open. Notably, Binance, BingX, and HTX are witnessing significant buying activity.
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2024-08-20 21:31