Binance resumes spot trading for LUNA and UST

Binance, the world’s largest cryptocurrency exchange by trading volume, has announced a resumption to… The post Binance resumes spot trading for LUNA and UST appeared first on Coin Journal.

Binance resumes spot trading for LUNA and UST

Binance, the world’s largest cryptocurrency exchange by trading volume, has announced a resumption to spot trading for Terra (LUNA) and TerraUSD (UST) pairs.

The crypto exchange suspended trading in the LUNA/BUSD and UST /BUSD  in the wake of Terra’s meltdown. But in a sign that the market could yet see a rebound in the UST stablecoin, and currently ‘buried’ LUNA, Binance is allowing trading. 

The exchange wrote in a notice to its users that the decision follows the Terra blockchain validators’ move to “resume block production, disable on-chain swaps, and close IBC channels.”

Binance will resume spot trading for the following trading pairs at 2:00 pm UTC, May 13, 2022. LUNA/BUSD and UST/BUSD.”

Users can also deposit and withdraw the cryptocurrencies, although customers are being asked to undertake due diligence before they proceed.

Deposits and withdrawals for $LUNA and $UST will also open at the same time. Please ensure that you have done your own research into the fundamentals of $LUNA and $UST before trading,” Binance noted.

Binance has however removed the two tokens from its Convert and Earn platforms.

UST remains de-pegged from the dollar since losing parity on 9 May and is currently 79% off.

The post Binance resumes spot trading for LUNA and UST appeared first on Coin Journal.