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LUNA, UST Still Available on FTX and Other Exchanges Despite Terra Blockchain Halt
Transactions conducted during the blockchain halt are not considered to be final because they can’t be settled.
By Sam Reynolds
Updated Apr 14, 2024, 10:36 p.m. Published May 13, 2022, 4:19 a.m.
Despite a second halt of the Terra blockchain by its validators, the protocol’s LUNA token and UST algorithmic stablecoin remain available to trade on FTX and other minor exchanges as of late morning Asia time.
- FTX and China-focused exchange Gate.io continue to trade the luna token.
- Between its USD and USDT trading pairs, FTX has nearly $445 million in volume during the last 24 hours, according to CoinGecko.
- Meanwhile, Gate.io reports $84 million in volume during the last 24-hours for luna.
- Thai-based exchange Bitazza was trading both luna and UST up until early Friday morning Asia time, then pulled the plug on both.
- UST continues to be traded at FTX and KuCoin, with $678 million in volume during the last 24 hours at FTX and $248 million at KuCoin.
- Binance and many other major exchanges halted trading of LUNA and UST as both neared $0 and the Terra blockchain was shut down the first time.
- It’s unclear if the Terra blockchain will ever be restarted, meaning that the trades may never be settled and traders unable to cash out.
- UPDATE (May 13, 17:06 UTC ): According to a tweet from Binance CEO Changpeng Zhao, deposits, withdrawals and trading of the tokens has resumed on that company's platform.
STORY CONTINUES BELOW
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