Binance, the world’s largest cryptocurrency exchange in terms of daily trading volume, has made various announcements for three altcoins. The exchange’s statements included new network updates, a staking campaign for an altcoin, and developments on perpetual futures contracts. Here are the details…
Binance is stopping some transactions for this altcoin
The initial announcement of the exchange covered the Mina Protocol (MINA). cryptocoin.com As we reported, last week the exchange launched perpetual futures contracts for the MINA protocol. However, today, at around 06:30 CEST, Binance Futures, Binance’s futures platform, announced that it will suspend futures contracts for this coin.
An automatic clearing has been performed on USDT Collateralized MINA perpetual futures contracts. According to the statements in the official announcement of the exchange, a separate announcement will be issued to resume trading on suspended contracts. Users are advised to close all open positions prior to this process to avoid direct debit. For now, the perpetual futures contract is still suspended. MINA, on the other hand, is changing hands at $0.76, down 8.12 percent in the last 24 hours. It is worth noting that this price change occurred at the same time as the Binance announcements.
Exchange supports Terra Classic (LUNC) update
On the other hand, Binance has announced that it will support the Terra Classic (LUNC) network update. The Terra Classic (LUNC) mesh upgrade will occur at Terra Classic block height 11,543,150. This corresponds to the date of 14 February 2023. The exchange has announced that it will suspend LUNC deposits and withdrawals starting at Terra Classic block height 11,541,520. In addition, the exchange stated, “LUNC trading will not be affected during the network upgrade.”
Finally, the estimated time according to the exchange is indicated for users’ reference only. So users should be ready for any change in history. The exchange also underlined that it will fulfill all relevant technical requirements for all users holding LUNC in their accounts. The exchange will reopen deposits and withdrawals for LUNC once it considers the upgraded network stable. LUNC is changing hands at $0.000185, down 3 percent at the time of writing.
Locked SAND products enter the market
According to the third announcement of the day, Binance’s Simple Earn service; It launched SAND-locked products that are limited to 30-day, 60-day, and 120-day subscriptions and offered on a “first come, first served” basis. To earn rewards, users must complete their SAND Locked Products subscription today, starting at 15:00 local time. Locked products are included in the reward calculation period from 00:00 on the day you complete your subscription until the end of the subscription period. Rewards are paid out daily. You can also see detailed information about the reward process of the cryptocurrency in the table below:
At the time of writing, SAND is changing hands at $0.72, down 6.22 percent.
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