The world’s largest cryptocurrency exchange, Binance, has made a remarkable statement about the cryptocurrency Terra (LUNA), which has been on the market for a few days. In the official announcement made on the exchange’s website, it was reported that withdrawals for the cryptocurrency were suspended.
The reasons for the decision were also mentioned in the statements made by Binance. Binance officials announced that withdrawals were stopped due to network slowness and congestion issues. Alerting investors, Binance announced that some withdrawal requests were canceled and the transaction history on Binance should be checked. So if you have created a withdrawal request for LUNA, your request may have been denied.
High volume withdrawal requests announced
In the blog post that Binance informed users, it was reported that there were very high volume withdrawal requests. However, considering that LUNA has lost 96 percent in the last 24 hours, it is difficult to understand why investors want to withdraw this money. No one knows exactly what’s going on in the background.
Terra (LUNA) and TerraUSD (UST) have become the number one agenda of cryptocurrency investors. LUNA, which once rose to the level of $ 120, is currently trading at $ 0.08. UST is one of the stablecoins indexed to the dollar. In other words, the value of this cryptocurrency should be around 1 dollar. However, this cryptocurrency is currently trading at $ 0.48…
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