Crypto.com Suspends LUNA Trading, Binance Updates Leverage Limit
![](https://en.ethereumworldnews.com/wp-content/uploads/2022/03/IMG_6129-50x50.jpg"></p><ul><li>Crypto.com suspends LUNA deposits and withdrawals</li></ul><ul><li>Binance plans to update the leverage limit on the token’s perpetual contract</li></ul><ul><li>ByBit also they will delist LUNA’s derivative contract on their platform</li></ul><p>Major digital currency exchange Crypto.com has reportedly halted support for LUNA trades on its platform. The news broke on Thursday following the massive price crash below 10 cents.</p><div class=)
BREAKING: https://t.co/gp8AK4709L 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: https://t.co/0Pq4lpNVsW
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.
Source: Read Full Article
