Leading cryptocurrency exchange FTXannounced that it will suspend deposits and withdrawals for Terra Classic (LUNC) and TerraClassicUSD (USTC) from September 12. Support for Anchor Protocol (ANC) will also be terminated on the same date, and spot and futures trading with ANC will be suspended.
Crypto exchange FTX made an official announcement on Sept. Terra Classic (LUNC) and TerraClassicUSD (USTC) announced that deposits and withdrawals will be suspended at 14:00 UTC on September 12.
FTX Wallet will no longer support deposit and withdrawal services. However, the crypto exchange will continue to support the “convert function” for LUNC and USTC.
FTX also recommended that deposits and withdrawals be completed before the deadline. Deposits and withdrawals made after the due date will not be credited to wallets.
Anchor Protocol Announcing that it will also remove support for the (ANC) token, FTX.. ANC announced that it will end support for spot and futures markets on September 12 at 14:00 UTC.
FTX will cancel all ANC/USD and ANC-PERP orders, stop trading on the ANC/USD and ANC-PERP markets, and suspend ANC deposits and withdrawals. Also, ANC-PERP will expire in cash up to 1-hour TWAP of corresponding index prices.
However, the “convert function” for ANC will continue to be retained.
FTX announced last week, on August 26, that it supports the Terra Classic (LUNC) network upgrade. It had reopened withdrawals for all Terra Classic tokens after a successful upgrade.
Binance also announced earlier that Terra Classic and TerraClassicUSD were suspended due to Shuttle Bridge closing. This ended Terra Classic (LUNC) deposits and withdrawals over the Ethereum network. However, users can continue to use the Terra Classic network to deposit and withdraw LUNC and USTC tokens.
The Terra community continues to support Terra Classic (LUNC) and TerraClassicUSD despite the crisis. In fact, all Terra tokens LUNA, LUNC and USTC continue to record enormous daily trading volume.
The community aims to recover prices through burning, staking, building projects, ecosystem education and governance. Terra Classic price is trading at $0.002781, up about 13% in the last 24 hours.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.