As reported by Binance, the measure aims precisely to protect users who operate with LUNA in the futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. market. They also indicate that they will enable LUNA – BUSD as an alternative for those who wish to continue their operations.
The exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. with the highest trading volume how much cryptocurrency has been traded over a set period, such as the past 24 hours. in the world, Binance, announced today that it will proceed to suspend trading operations associated with the futures contracts of Earth (MOON) associated withTether (USDT), This after the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. lost more than 94% of its price in the last 24 hours.
Binance suspend futures contracts LUNA – USDT
The information was published by the Binance through its official blog, where he indicated that this is one of the precautionary measures that will be implemented precisely to protect the traders of the contracts in question, so that the trading pair trade between one cryptocurrency and another, for example, the trading pair BTC/ETH. will cease to be operational if it falls below 0.005 USDT.
As mentioned previously, Binance Futures will conduct an automatic settlement on the $LUNA USDT-Margined Contract in traditional finance, a contract is a binding agreement between two parties. In cryptocurrencies, smart contracts execute functions on the blockchain. and then delist the Futures contract at May 12, 2022 3:30pm UTC.https://t.co/774JF0HcqP
– Binance (@binance) May 12, 2022
Despite the fact that Binance said the measure would go into effect as of 3:30pm (UTC), the team from DiarioBitcoin found that the futures contract LUNA – USDT is still operational, so they are likely to be suspended if the currency currency is a medium of exchange that defines value. price falls below the above threshold, which would result in the automatic execution of positions and the elimination of the trading pair in question.
Other options will be available
An important point highlighted by the team of Binance is that they will offer other alternatives for those interested in this type of contracts, since they will proceed to open operations of LUNA – BUSD as an alternate channel in case operations cease.
In relation to operations, Binance also clarified that there has been a lot of congestion in terms of trading activities, which is why orders are being executed slower than expected, generating a long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. queue of transactions to be confirmed.
Let’s keep in mind that the Earth suspended operations of its network a network refers to all nodes in the operation of a blockchain at any given moment in time. Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. as a preventive measure to avoid possible attacks. However, what happened generated even more fear within the market and led to a large volume of trades in the sale of MOON, which in turn led to a more than 94% drop in the price of the token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. in the last 24 hours, trading at around USD $0.008 on the major exchanges.
Market an area or arena, online or offline, in which commercial dealings are conducted. still suffers
While the most significant case is that of MOON, the market in general is still experiencing the aftermath of the steep fall that has been felt among most of the major players.
By way of review, at this hour the price of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. (BTC) has dropped 0.9% in the last 24 hours, trading below the USD $29,000 barrier per unit. On the other hand Ethereum a decentralized open-source blockchain with smart contracts functionality. (ETH) sees a steeper decline of 7.4% over the course of the day, valuing it at about $1,930 at press time.
Coins such as XRP, Cardano (ADA), Solana (SOL), Dogecoin (DOGE), Polkadot (DOT), Avalanche (AVAX), TRON (TRX), Shiba Inu (SHIB) and several others are also down with declines of between 5% and 11% at this hour.
- Binance briefly suspended Terra token withdrawals amid UST collapse
- Binance suspends crypto derivatives trading for users residing in Spain until further notice
- Terra’s Blockchain halts to avoid a governance in the world of cryptocurrencies, governance is defined as the people or organizations that have decision-making powers regarding the project. attack, LUNA drops 99%.
Version by Angel Di Matteo / DiarioBitcoin
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