Its also reduced the maximum leverage to 8x on USDT-margined LUNA perpetuals to 8x. The upgrade is expected to bring about positive developments and advancements, fostering the continued growth of the Terra network in the crypto landscape. Binance has delisted Bitcoin-margined LUNA perpetuals in response to Terras death spiral. The news of Binance’s backing for the Terra (LUNA) network upgrade and the subsequent price surge highlights the growing confidence and interest in the Terra ecosystem and its native cryptocurrency. Both Terra Classic (LUNC) and TerraClassicUSD (USTC) have witnessed a breakout from a descending channel pattern, resulting in a staggering increase of 20% and 50% respectively over the past week. In addition to the LUNA price surge, other tokens within the Terra ecosystem have also experienced notable gains. LUNA 2.0 May Rise Price From 10 to 50, While Binance, Coinbase Gemini May Face a Lawsuit Soon News LUNA 2. Some reports believe it could cost anywhere between 30 and 60. Additionally, Binance’s support for the upgrade is expected to provide a further boost to Terra’s growth and adoption within the crypto community. LUNA 2.0 is rumored to cost 50 upon launch, according to social media reports. The network upgrade holds great significance for the Terra ecosystem. However, users will still be able to trade LUNA normally during the network upgrade. To facilitate the upgrade process, Binance will temporarily suspend LUNA deposits and withdrawals one hour prior to the scheduled upgrade. Main Points:Īccording to the official announcement by Binance on July 17, the Terra (LUNA) Phoenix v2.4 software upgrade is scheduled to take place on July 18 at 13:00 UTC, coinciding with block height 5,994,365. As a result, the price of LUNA has witnessed a significant surge of over 16% to reach a high of $0.7274 within the past 24 hours. The Terra community has successfully passed the on-chain proposal for the Phoenix software upgrade v2.4, with a majority of votes in favor of the upgrade. Introduction:īinance, the world’s largest crypto exchange, has announced its support for the Terra (LUNA) network upgrade. As a result, the price of LUNA surged by 16% within 24 hours, reaching a high of $0.7274. These five altcoins and DeFi tokens are also undervalued.Binance Supports Terra (LUNA) Network Upgrade: Price Surges by 16%īinance Supports Terra (LUNA) Network Upgrade: Price Surges by 16% Summary:īinance has announced its support for the Terra (LUNA) network upgrade, scheduled to occur on July 18. You’ll need to buy Binance USD (BUSD) to then buy and sell LUNA on that relisted trading pair – Binance’s stablecoin pegged to the USD.įor a safer investment these five metaverse coins have recovered the strongest today as the crypto markets bounced. Only invest what you can afford to lose as LUNA is highly volatile in the current market conditions. The LUNA price can still make 100x price moves however, to the upside and the downside. Previously the circulating supply of LUNA in April and the start of May before the black swan crash was around 350 million LUNA coins. In fact as some crypto traders pointed out, it would flip Bitcoin in market cap if it were to even approach its former ATH of $119.55, with that total supply. The circulating supply of almost 7 trillion LUNA tokens on the one hand will make it difficult for LUNA to recover to its all time high unless a large amount of LUNA supply is burnt by Terraform Labs. That move appears to have been a ‘fat finger’ situation with someone accidentally placing a large market order to buy LUNA instead of limit orders, resulting in slippage. It has traded as high as $0.002 on a wick – a 1785x increase from the bottom. The LUNA price hit $0.00008 – $0.00010 around the time of the Binance announcement, an almost 100x pump off the lows. Pernikahan mewah anjing di Jakarta memicu polemik, pemiliknya minta maaf. On the day of the final leg of the LUNA crash – May 12th into the early hours of May 13th – the LUNA price hit a low of $0.00000112 BUSD, the current LUNA bottom.
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