Binance Suspends Luna and UST Trading

The largest crypto exchange stopped trading with altcoins after the suspension of their network and the collapse of the course
On May 13, the Binance crypto exchange suspended trading in the LUNA/BUSD and UST/BUSD pairs, according to the Binance. Also today the platform stopped deposits and withdrawals on the Terra network after the blockchain was stopped at block height 7,607,789. The company noted that deposits and withdrawals will be resumed after the network becomes stable.

Binance will suspend spot trading for the following trading pairs at 8:30am UTC, May 13 2022:








🔸 LUNA/BUSD
🔸 UST/BUSDhttps://t.co/U8u7bNWuZT
— Binance (@binance) May 13, 2022





 












The price of the UST token on May 9 deviated from the $1 mark and continued to fall. At the moment it is $0.1. At the same time, the price of the altcoin Terra (LUNA), which supported the rate of the stablecoin, fell to $0.00001, although at the beginning of the week it reached $80.
The altcoin issue was increased to 6.9 trillion tokens, but this did not help, and the project managers decided to stop the network. On May 12, the network was already suspended, after which it was resumed by disabling the delegation function.

The Terra blockchain has officially halted at block 7607789.






Terra Validators have halted the network to come up with a plan to reconstitute it. 
More updates to come.
— Terra (UST) 🌍 Powered by LUNA 🌕 (@terra_money) May 13, 2022