Trading in cryptocurrency derivatives On Monday, September 12 at 14:00 UTC, FTX announced it would stop accepting deposits and withdrawals of Terra Classic (LUNC) and TerraClassicUSD (USTC).
On September 12th, FTX will stop supporting the Anchor Protocol, delist ANC, and halt trading in ANC spot and futures.
FTX suspends LUNC and USTC deposits and withdrawals
The crypto exchange FTX announced on September 5 that beginning on September 12 at 2 PM UTC, it would stop accepting deposits and withdrawals of Terra Classic (LUNC) and TerraClassicUSD (USTC).
The ability to add or remove funds from your FTX Wallet will soon be discontinued. But the “convert feature” for LUNC and USTC will still be available on the crypto exchange.
FTX suggests making and receiving payments before the deadline. After the cutoff time, deposits and withdrawals will not be reflected in user accounts.
Moreover, the Anchor Protocol (ANC) token will be removed from FTX’s exchange. On September 12 at 2 PM UTC, it will likewise stop supporting the ANC spot and futures markets.
All ANC/USD and ANC-PERP orders will be cancelled, trading on the ANC/USD and ANC-PERP markets will be halted, and FTX will halt ANC deposits and withdrawals.
In addition, ANC-PERP will cash-expire to a TWAP of its equivalent index prices every hour.
But the “convert feature” for ANC will be accessible on the crypto exchange.
FTX helped out with last week’s August 26 Terra Classic (LUNC) network upgrade. After the upgrade was completed, Terra Classic tokens could be withdrawn once again.
Binance had already announced the temporary suspension of Terra Classic and TerraClassicUSD following the shutdown of the Shuttle Bridge
In doing so, the ability to send and receive Terra Classic (LUNC) on the Ethereum network was discontinued. Users can still deposit and withdraw LUNC and USTC tokens on the Terra Classic network.
Community backs Terra Tokens
Despite the ongoing Terra crisis, the Terra community has maintained its support for Terra Classic (LUNC) and TerraClassicUSD.
Daily trade volume was extremely high for all three Terra tokens (USTC, LUNA, and LUNC).
Through burning, staking, construction projects, ecology education, and responsible leadership, the community hopes to recoup lost funds.
At present, one Terra Classic can be purchased for $0.0002781, an increase of over 13% in the last 24 hours.
USTC and LUNA, meanwhile, are performing well in trading, with gains of nearly 8% and 2%, respectively.
