Terra Luna Classic (LUNC) risks being delisted from the Gemini exchange. The list also includes Synthetix (SNX), Qredo (QRDO), and Zebec (ZBC).
People aware of the matter have received emails from cryptocurrency exchange Gemini, which has announced its intention to delist Terra Luna Classic. Synthetix (SNX), Qredo (QRDO), and Zebec (ZBC) are also among the cryptocurrencies that the crypto exchange intends to delist.
Gemini will delist Terra Luna Classic
As indicated in an email, Terra Luna Classic (LUNC) has been delisted by crypto exchange Gemini. The decision was made in response to a recent evaluation of the exchange’s digital assets.
Synthetix (SNX), Qredo (QRDO), and Zebec (ZBC) will also be delisted by the crypto exchange. After September 20, users will be unable to trade these cryptocurrencies. The exchange advises the withdrawal of these crypto assets to external wallets.
“We maintain an ongoing assessment of the markets for the diverse assets we endorse.” Gemini stated, “Occasionally, we reevaluate the value of listing specific assets on our exchange. Due to our most recent review, we have resolved to implement the measures above.”
The Terra Luna Classic (LUNC) delisting has sparked a debate within the crypto community, with some asserting that the exchange’s reference to the crypto asset is wLUNA. There is no specific reason why Gemini refers to wLUNA as LUNC.
Terraform Labs previously disclosed that the Shuttle Bridge is reopening to redeem bundled assets on Terra Classic. Users are permitted to redeem bundled assets from bridge wallets for 30 days.
Price of LUNC to decrease?
The price of LUNC remained in a narrow range for the past week, but it has experienced a 2% increase in the past 24 hours. The 24-hour low and high are $0.00007708 and $0.00008072, respectively. Furthermore, the trading volume has increased by 45% in the past 24 hours in conjunction with a more comprehensive recovery in the crypto market.
The delisting of Terra Luna Classic may further deteriorate sentiment; however, the ongoing market recovery and development activity may mitigate the negative impact.
In the interim, the price of USTC has been increasing in response to the USTC repeg narrative, and it is currently trading at $0.0163. The price is encountering resistance at $0.0165. In the past 24 hours, the open interest in USTC futures has increased by 1%. Binance, BingX, and HTX are all experiencing substantial purchasing activity.
