bitcoin and altcoinAll eyes were on Luna and UST as the s were having a bad May.
Terra’s stablecoin, UST, has not been stable at $1 for a while.
Binance released an announcement earlier today as UST suffered a significant loss in market value with the hard sells on Luna.
In the announcement, it was stated that LUNA and UST shootings were suspended due to pending loaded footage.
“LUNA in the Terra (LUNA) network and TOP Tokens have been temporarily suspended as of 02:20 (UTC) 2022-05-10 due to high volumes of pending withdrawals. This is due to network slowness and congestion.
Binance will restart withdrawals for these tokens once we detect that the network is stable and pending withdrawal volume is decreasing. We will not notify users in another announcement.
We apologize for any inconvenience.”
Losing 65% in value in the last 5 days, LUNA continues to be traded at $28 as of our news.
Luna was as high as $119 last month.