LUNA $40b empire collapses as Binance delists it and UST

Things are not improving for the Terra ecosystem, as Binance has now decided to delist LUNA and UST trading pairs. On 13 May 2022, Binance, the world’s largest cryptocurrency exchange by volume, announced that some margin and spot trading pairs would be removed.

LUNA’s dark days worsen as Binance delists it, and UST

After the collapse of the Terra Ecosystem, Binance jumps ship. The company also stated that it would terminate transactions, close user positions, execute an automated settlement, and cancel all pending orders at 00:40 GMT.

The company’s decision to delist the crypto pairs came as LUNA plummeted to zero, or $0.00001944 per coin, according to CoinGecko. The token has now officially lost 100%, as announced by the platform, with a total circulating supply of 6.5 trillion tokens.

Binance was also halting trading in the UST stablecoin, removing the following pairs: BTC/UST, LUNA/UST, ETH/UST, BNB/UST, and UST/USD. The company also canceled the BUSD-margined perpetual contract LUNA/BUSD.