Binance Suspend Terra LUNA Coins!

[zasad@]

https://twitter.com/terra_money/status/1524812171179327488?
"The Terra blockchain has resumed block production.

Delegations are disabled now that the chain is live with the new code merge.

Validators, please check the Discord announcements for the latest patch notes."

[evichi]

This a big lesson for all crypto enthusiasts. Was this caused by the big investors "Whales" or is deliberate by LUNA? Where lies the trust in the crypto space? These are the questions crypto lovers have to ask. According to CNBC (https://www.cnbc.com/2022/05/10/bitcoin-btc-investors-panic-as-terrausd-ust-sinks-below-1-peg.html) UST is what’s known as an “algorithmic” stable coin. Part of the Terra blockchain project is meant to track the value of the dollar, like fellow stable coins tether and USDC. However, unlike with those cryptocurrencies, Terra doesn’t have cash and other assets held in a reserve to back its token. Instead, it uses a complex mix of code — alongside a sister token called luna — to stabilize prices. Perhaps, the algorithm failed. According to Outlookindia, "Whales" caused UST to loose value over USD.

Our crypto experts need to go back to the drawing board because this is a dent to crypto space.

[TimeTeller]

It's a shame that major exchange Binance has made such a quick decision to remove the LUNA coin from their platform. If in the next few days there is no change in the selling value, of course it could have an impact on other platforms/exchange as well. I don't know what Developer next plan is to tackle this problem. whatever it is, me wish LUNA the best, on the one hand I have also lost money because of this coin 

Maybe, binance wants to get out of this mess before it becomes worst.
We don't know if there is still future for this algo-based stablecoin
It depends on the team behind this project if they want to rise up or let it continue to decline.
This is one of the many reasons why people are getting disappointed with crypto.
Getting rekt without a warning, thinking that they bought a valuable coin, but it is not.

[tabas]

It's just on the futures but there's no hope on this coin IMO. People would play out this coin despite the trend going down and binance is wise enough to suspend and delist it on their futures trading.
I've seen people making $400k with just a single trade with a high leverage on it since it's a downtrend. They've tried to stop it too late and those who have made a lot on it will no longer trade on this coin.

[goaldigger]

It's just on the futures but there's no hope on this coin IMO. People would play out this coin despite the trend going down and binance is wise enough to suspend and delist it on their futures trading.
I've seen people making $400k with just a single trade with a high leverage on it since it's a downtrend. They've tried to stop it too late and those who have made a lot on it will no longer trade on this coin.

Because it become too volatile and many are able to still make money, Binance made this decision for their own benefit since they can’t afford to pay for more leverage. If you still have LUNA on any wallet, better to analyze it again because for me it will be hard for LUNA to rise again, or no chance at all but still it’s your decision to make. LUNA has been gone crazy, manipulators are very aggressive, hope that you can still get your money and put it on a safer place or coin.

[Sterbens]

Seeing the developments that happened to Luna was quite worrying. Investors have lost confidence and this means that there is no longer a good future for Luna and UST. Many Exchanges now have plans to remove both for the convenience of traders. Seeing the CoinMarketcap bleed for quite a while only USDC and BUSD have strong reserves to show how much they really can be trusted.

[TheClownSong]

Seeing the developments that happened to Luna was quite worrying. Investors have lost confidence and this means that there is no longer a good future for Luna and UST. Many Exchanges now have plans to remove both for the convenience of traders. Seeing the CoinMarketcap bleed for quite a while only USDC and BUSD have strong reserves to show how much they really can be trusted.

no one will have faith to Do Kwon and luna developers team anymore, this worst dump ever in this year and suffer alot investors which is hold due their believeness. investors now worrying about another stablecoin , and move to usdc or maybe fiat to make sure market will good in this weekend. maybe another nuke will coming again tommorow while stock market closed.

[Metroid]

Seeing the developments that happened to Luna was quite worrying. Investors have lost confidence and this means that there is no longer a good future for Luna and UST. Many Exchanges now have plans to remove both for the convenience of traders. Seeing the CoinMarketcap bleed for quite a while only USDC and BUSD have strong reserves to show how much they really can be trusted.

I always said usdc would be the only stablecoin to be trusted and because of that many scammers tried to cancel me.

[Kelvinid]

Well, the sad thing is that Luna lost its price potential because of a lack of demand, market sustainability, trust issue, and investors' regret to put money into shitcoins like this project.

Not to wonder why this is going to happen. The project that doesn't have use-cased will certainly lose its value in the coming days, it was exactly as the bearish season come Luna's investors were quitting and selling them off.

[NicNacCoin]

Binance has tried hard to hold on to Luna Market. Various exchanges have suspended from the market long ago.But Binance has not yet suspended from the market but has decided to suspend.Luna will soon be vanished from the market and Luna will be suspended from various exchanges.

[escapefrom3dom]

statistics Price Terra LUNA Coins

All-Time High = $119.18   -----   All-Time Low = $0.056025

Bad news that Binance started suspending this coins. as soon as possible for you to withdraw LUNA coins stored on the Binance Exchange!

https://ibb.co/C1BsRKC
https://twitter.com/binance
https://coinmarketcap.com/currencies/terra-luna/
https://www.coingecko.com/en/coins/terra-luna

binance ATL (at post time) == $0.00111

imo they should starting to burn LUNA → this will bring more buyers.

[Rengga Jati]

I thought that at first, the decrease of Luna price was only like other coin decreases, normal decreases. But, with, it seems like what happens to the shitcoin or shit tokens previously that have no future, only pump and dump, and now the coins may be dead.

But wait, I ma litle bit confused with your statement:

Bad news that Binance started suspending this coins. as soon as possible for you to withdraw LUNA coins stored on the Binance Exchange!

I read that Binance suspended the withdrawal process of Luna. The Suspension of Withdrawals is done on 2022-05-12
So, how can you withdraw Luna from Binance?
https://www.binance.com/en/support/announcement/1f86021e1f55483aa89649b3e6861153

[poodle63]

Becareful with the price of luna. This may be delisted from the spot as soon as possible no matter what price that already achieved by luna is. Binance has been surpending deposit and withdrawal and it will be erasing the contract. This indicated if binance interested to remove luna from its own exchange site. You must be careful with this. This may become the end for luna and thousands of people who have invested in luna. This is the worst thing that i have ever seen in crypto and in my life

[southerngentuk]

Now that watching the play going on in this space puts me in a really difficult mood to say, perhaps the story of Luna in this space will become one of the stains in the history of market development. electronic money market. Perhaps now people will have to really accept losses with losses and be optimistic about future opportunities and be well prepared both intellectually and financially to be ready to have a good faith relationshiphappy, not sad.

I don't think about the current conditions at all, especially what happened to Luna today. Prices fell in a short time, to be honest this may be a very difficult experience to forget, And true to what you say maybe this incident will be a black stain in the world of cryptocurrency. In Luna's current situation hope would probably be meaningless.

I don't want to talk about this, but it's actually happening from what I've seen. Some people I know are slowly coming to an impasse and they're really thinking about death when they try to buy. more than Luna when it was falling out of control. I can't be of any help to them, when I have read some of the messages. They are no longer able or motivated to live with losses and debt. Maybe what happened in the last few days? Yesterday was a great lesson for us when we let money rule everything in life.

[UserU]

Trading resumes, fire sale /s

[wildan88]

I see that they started to suspend it as I cannot see the LUNA in Binance futures that's why I change my exchange site to Gate.io since until now they are offering LUNA in their futures trading, the coin really wreck a lot of lives it is around -99% it is like a rug pulled project.

[bitterguy28]

statistics Price Terra LUNA Coins

All-Time High = $119.18   -----   All-Time Low = $0.056025

Bad news that Binance started suspending this coins. as soon as possible for you to withdraw LUNA coins stored on the Binance Exchange!

https://ibb.co/C1BsRKC
https://twitter.com/binance
https://coinmarketcap.com/currencies/terra-luna/
https://www.coingecko.com/en/coins/terra-luna

It is best that we denied buying this coin last year , Me and a friend plans to invest in LUNA because of the potential , but we did not come to agreement if how long we will hold and how much we need to wait.
so in that we deny to buy because of miscommunications  .

I see that they started to suspend it as I cannot see the LUNA in Binance futures that's why I change my exchange site to Gate.io since until now they are offering LUNA in their futures trading, the coin really wreck a lot of lives it is around -99% it is like a rug pulled project.

is this one of the reason for what is happening int he market now?

[Google+]

I see that they started to suspend it as I cannot see the LUNA in Binance futures that's why I change my exchange site to Gate.io since until now they are offering LUNA in their futures trading, the coin really wreck a lot of lives it is around -99% it is like a rug pulled project.

As long as there is an exchange to trade it on, it would be better to sell it immediately even if it is a loss because if Binance as a large exchange has suspended LUNA, then other exchanges will also follow suit considering that so many people have been harmed by the current decline in LUNA.

[tabas]

It's just on the futures but there's no hope on this coin IMO. People would play out this coin despite the trend going down and binance is wise enough to suspend and delist it on their futures trading.
I've seen people making $400k with just a single trade with a high leverage on it since it's a downtrend. They've tried to stop it too late and those who have made a lot on it will no longer trade on this coin.

Because it become too volatile and many are able to still make money, Binance made this decision for their own benefit since they can’t afford to pay for more leverage. If you still have LUNA on any wallet, better to analyze it again because for me it will be hard for LUNA to rise again, or no chance at all but still it’s your decision to make. LUNA has been gone crazy, manipulators are very aggressive, hope that you can still get your money and put it on a safer place or coin.

Well, right now, Binance has completely suspended all the trading pairs for Luna. A few hours ago, they've remained Luna/BUSD but eventually, they've announced that it's also closed.
They're going to put it back once the network is working again. I see a lot of people are quick in buying of thousands to millions of Luna and hopefully, they didn't bought it just to lose.

[TravelMug]

I see that they started to suspend it as I cannot see the LUNA in Binance futures that's why I change my exchange site to Gate.io since until now they are offering LUNA in their futures trading, the coin really wreck a lot of lives it is around -99% it is like a rug pulled project.

As long as there is an exchange to trade it on, it would be better to sell it immediately even if it is a loss because if Binance as a large exchange has suspended LUNA, then other exchanges will also follow suit considering that so many people have been harmed by the current decline in LUNA.

Yeah, and we all know how big Binance is, so it will have a drastic effect on other crypto exchanges and could follow their lead on the suspension of LUNA.

It went to almost 0 and that is the main reason why they halted the trading, otherwise there will be thousands of investors that are going to lose money here because of what happen to LUNA and their stable coins.