Binance suspends LUNA and UST withdrawals citing network congestion
The market value of UST, Terra’s stablecoin offering, recently fell below the expected $1 price point as LUNA’s price witnessed a sharp decline owing to a significant selloff. As the crypto community still tries to decipher Terra’s ongoing pegging-depegging fiasco in relation to its stablecoin offering Terra USD (UST), major crypto exchange Binance announced the suspension of withdrawals for LUNA and UST until further notice on Tuesday. The market value of UST, Terra’s stablecoin offering, recently fell below the expected $1 price point as LUNA’s price witnessed a sharp decline owing to a....
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The rollercoaster-ride in cryptocurrency prices on Monday was accompanied by Binance’s fresh restrictions for ethereum and ERC-20 tokens. Ethereum Network Congestion Fingered as the Culprit for the Temporary Halt Through the official Binance Twitter account, one of the world’s largest cryptocurrency exchanges by volume, announced that it had “temporarily suspended withdrawals of $ETH and ethereum-based tokens” due to network congestion while underscoring that user funds were SAFU (Secure Asset Fund for Users). #Binance has temporarily suspended withdrawals of $ETH....
Binance suspended LUNA/BUSD and UST/BUSD on its spot trading platform following the halting of the Terra blockchain. Global cryptocurrency exchange Binance has suspended trading pairs with Terra ecosystem's cryptocurrencies, LUNA 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 pairs being suspended. It'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....
LUNA is bearing the brunt of a major turbulence taking shape in the broader crypto market. The de-pegging of the UST stablecoin from the U.S. dollar has caused chaos on Satoshi Street. Tuesday morning, the UST price fell to $0.60, a 40 percent depeg from the USD. This has led to large liquidations of UST […]
Binance suspended withdrawals for LUNA and UST amid the UST stablecoin losing its peg to the U.S. dollar on Tuesday. Amid collapsing Terra network’s cryptocurrencies Luna (LUNA) and TerraUSD (UST), crypto exchange Binance continues deactivating related trading services.Binance’s derivatives arm Binance Futures has delisted coin-margined LUNA perpetual contracts, the firm officially announced on May 12.“Users are advised to close any open positions prior to the delisting time to avoid automatic settlement,” the statement by the platform reads.Binance Futures has also started conducting....
Binance paused ERC-20 withdrawals without offering a credible explanation, letting speculation about its true motives run wild. Binance had a hiccup with its withdrawals for Ether (ETH) and all ERC-20 assets on Friday, with users being unable to access any of their Ethereum-based assets for about one hour. The pause came abruptly, as the exchange's Twitter account notified users that Binance had “temporarily suspended withdrawals of ETH and Ethereum-based tokens in order to address a congestion issue.”Binance reassured that “funds are SAFU,” but did not provide any further details. About....