Gemini Crypto Exchange To Delist Terra Luna Classic (LUNC)

Crypto exchange Gemini has announced plans to delist Terra Luna Classic, as per emails received by people familiar with the matter. The crypto exchange has also named Synthetix (SNX), Qredo (QRDO), and Zebec (ZBC) among cryptocurrencies it intends to delist.

Gemini Announces Terra Luna Classic Delisting

According to an email by crypto exchange Gemini, it has decided to delist Terra Luna Classic (LUNC). The move comes in response to a recent review of various digital assets listed on the exchange.

Crypto exchange will also delist Synthetix (SNX), Qredo (QRDO), and Zebec (ZBC). Users will no longer be able to trade these crypto after September 20. The exchange recommends withdrawing these crypto to external wallets.

“We consistently review the markets for the various assets we support. At times, we reassess the value of having certain assets listed on our exchange, and as a result of our most recent review have determined to take the actions outlined above,” said Gemini.

Crypto community debates over the Terra Luna Classic (LUNC) delisting and claims the crypto asset mentioned by the exchange is wLUNA. Gemini mentions wLUNA as LUNC for no specific reason.

Terraform Labs earlier announced the reopening of the Shuttle bridge for the redemption of wrapped assets on Terra Classic. Users are allowed to redeem wrapped assets from the bridge wallets until 30 days.

LUNC Price To Drop?

LUNC price continued to move range bound for a week, with a 2% jump in the last 24 hours. The 24-hour low and high are $0.00007708 and $0.00008072, respectively. Moreover, trading volume increased by 45% in the last 24 hours amid a broader crypto market recovery.

Terra Luna Classic delisting may cause sentiment to worsen further, but the continued market recovery and development activity could negate the downside.

Meanwhile, USTC price climbing amid the USTC repeg narrative, with the price currently trading at $0.0163. The price is facing resistance at $0.0165. USTC futures open interest saw a 1% increase in the last 24 hours. Binance, BingX, and HTX recording massive buying activity.

✓ Share:

Varinder Singh

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.