{"id":446361,"date":"2022-05-13T12:43:32","date_gmt":"2022-05-13T09:43:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/breaking-binance-suspends-luna-and-ust-trading-amid-issues-on-terra-blockchain\/"},"modified":"2022-05-13T12:43:32","modified_gmt":"2022-05-13T09:43:32","slug":"breaking-binance-suspends-luna-and-ust-trading-amid-issues-on-terra-blockchain","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/breaking-binance-suspends-luna-and-ust-trading-amid-issues-on-terra-blockchain\/","title":{"rendered":"# Breaking: Binance suspends LUNA and UST trading amid issues on Terra blockchain"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a316b3f48e57\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a316b3f48e57\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/breaking-binance-suspends-luna-and-ust-trading-amid-issues-on-terra-blockchain\/#%E2%80%9D_Breaking_Binance_suspends_LUNA_and_UST_trading_amid_issues_on_Terra_blockchain_%E2%80%9C\" >&#8221; Breaking: Binance suspends LUNA and UST trading amid issues on Terra blockchain  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Breaking_Binance_suspends_LUNA_and_UST_trading_amid_issues_on_Terra_blockchain_%E2%80%9C\"><\/span>&#8221; Breaking: Binance suspends LUNA and UST trading amid issues on Terra blockchain  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvNmM4Zjc5OTEtZDg0Ny00YTg0LTgwN2MtN2MwNDYxZjkxOWE3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Global cryptocurrency exchange Binance has suspended trading pairs with Terra ecosystem&#8217;s cryptocurrencies,\u00a0LUNA and TerraUSD (UST), on its platform following the major crash of the algorithmic stablecoin.<\/p>\n<p>Binance <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.binance.com\/en\/support\/announcement\/f68451879a1841a6a0f44025735d9236\" data-amp=\"https:\/\/www-binance-com.cdn.ampproject.org\/c\/s\/www.binance.com\/en\/amp\/support\/announcement\/f68451879a1841a6a0f44025735d9236\">confirmed<\/a> the move on May 13, with spot trading for LUNA\/BUSD and UST\/BUSD trading pairs being suspended. It&#8217;s not clear when the withdrawals for LUNA and UST will continue, as the crypto exchange simply stated that it will wait for the issues with the Terra network to be solved. <\/p>\n<p>It is the latest move by the world\u2019s largest cryptocurrency exchange by trading volume following one of the most significant black swan events to hit the space since the inception of Bitcoin (BTC) in 2009.<\/p>\n<p>Binance Futures delisted coin-margined LUNA perpetual contracts on Thursday despite plans to salvage the floundering LUNA and UST. Terra blockchain validators were forced to take the network offline on May 12 in an effort to stem potential governance attacks following the crash of the network\u2019s LUNA token. <\/p>\n<p><strong><em>Related:\u00a0Untethered: Here\u2019s everything you need to know about TerraUSD, Tether and other stablecoins<\/em><\/strong><\/p>\n<p>Terra\u2019s LUNA and its algorithmic stablecoin Terra USD suffered a dramatic crash on May 10, as UST lost its $1 peg. The system was designed to automatically maintain its peg to the U.S. dollar &#8211; with the failure leading to a systematic devaluing of UST while LUNA tokens began to be minted at an unprecedented rate.<\/p>\n<p>The crash was cataclysmic, as the value of LUNA sunk 95% in the space within the matter of days. Terra founder Do Kwon released a short-term roadmap to try and revive the ecosystem. The proposal entailed burning $1.4 billion UST while staking 240 million LUNA tokens in an effort to stem the devaluation of the UST $1 peg.<\/p>\n<p><em>This article is developing and will be updated as new info is available.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/breaking-binance-suspends-luna-and-ust-trading-amid-issues-on-terra-blockchain\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Breaking: Binance suspends LUNA and UST trading amid issues on Terra blockchain &#8220; Global cryptocurrency exchange Binance has suspended trading pairs with Terra ecosystem&#8217;s cryptocurrencies,\u00a0LUNA and TerraUSD (UST), on its platform following the major crash of the algorithmic stablecoin. Binance confirmed the move on May 13, with spot trading for LUNA\/BUSD and UST\/BUSD trading&#8230;<\/p>\n","protected":false},"author":1,"featured_media":446362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvNmM4Zjc5OTEtZDg0Ny00YTg0LTgwN2MtN2MwNDYxZjkxOWE3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74894,74863,74860,75493,122378,117],"class_list":["post-446361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-blockchain","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-stablecoin","tag-terra","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/446361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=446361"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/446361\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/446362"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=446361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=446361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=446361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}