As the native token of Terraform labs Terra(LUNA) dropped by 100%, losing 100% of its value, many exchanges came forward to halt the trade. In a recent update, the largest cryptocurrency exchange Binance announced the delisting of the LUNA Perpetual Contract to protect the traders.
As mentioned previously, Binance Futures will conduct an automatic settlement on the $LUNA USDT-Margined Contract and then delist the Futures contract at May 12, 2022 3:30pm UTC. https://t.co/774JF0HcqP — Binance (@binance) May 12, 2022
Moreover, the exchange also announced the removal of the UST trading pairs like BTC/UST, LUNA/UST, ETH/UST, BNB/UST and UST/USDT. Along with this, the platform also would cease the trading for BUSD-margined perpetual contract: LUNA/BUSD with effect from 1:30 am UTC, on 13th MAy 2022.
Binance will remove and cease trading on the following spot trading pairs at 12:50am UTC, May 13:
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