Suspends LUNA Trading, Binance Updates Leverage Limit

BREAKING: exchange has reportedly suspended $LUNA trading.

Binance also announced an update to the token’s perpetual contract, reducing the maximum leverage option from 25x to 8x. The platform plans to delist the USDT-Margined LUNA Perpetual Contracts and implement the new leverage level on Thursday. 

In addition, sources claim that CZ’s company will delist the perp contracts if the price falls below $0.005. 

Binance changed to 0.005 USDT

Furthermore, Bybit announced an immediate halt on the LUNA/USD inverse contract citing a significant drop in the tokens’ price. 

Bybit reserves the right to delist any Derivatives contract without prior announcement if its index price drops below tick size * 50.

Another major exchange BitxMex also announced its decision to suspend perp swap contracts with the USD and USDT pairs.

On 12 May 2022 at 20:00 UTC, BitMEX will delist the LUNAUSD and LUNAUSDT Perpetual Swap contracts.

More details are available on our blog:

As EWN previously reported, South Korea’s crypto “big four” – Bithumb, Coinone, Korbit, and Upbit, designated Terra’s token as a cautionary item and warned investors about trading the token.

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