Crypto exchange Crypto.com has cautioned Terra Luna Classic (LUNC) holders to sell or withdraw their tokens.
LUNA and LUNA Classic saw a value decline of around 10% as a direct result, indicating investor unease. Furthermore, the 24-hour trading volume of both tokens decreased by 12%, indicating a decline in market activity related to these assets.
Crypto.com has responded to these changes by taking decisive measures to reduce risks and safeguard its users. The ban on trading for LUNA, MIR, and ANC on the Crypto.com exchange platforms and apps is one of the key actions.
Moreover, LUNA’s ability to receive new earned deposits and loans has been suspended. For current investors, this means that their LUNA Earn deposits won’t be impacted, offering stability.
The LUNA blockchain is dormant due to a decision by its validators, so the suspension covers deposits and withdrawals for Ethereum Mainnet ERC20 and Cronos CRC20 MIR, as well as LUNA and ANC Perps.
In an effort to control the current volatility, Crypto.com has also banned all dollar-cost averaging (DCA) trading bots for LUNA on its platform.
