The decline in Luna has reached unpredictable proportions. Luna, which adds a zero in front of its price every day, is trading at $0.01 as of our news hour.
With even one-day declines in Luna reaching 99%, it is wondered whether the stock markets will make a move.
Is Luna delisted from major exchanges? While the question remained on the agenda, an announcement came from Binance.
The following statements were included in the announcement published under the title of precautionary measures for Luna USD Margin futures contracts.
“Due to current tick size restrictions on LUNAUSDT futures contracts, Binance Futures will take the following precautionary measures:
If the price of LUNAUSDT contracts falls below 0.005 USDT, Binance will continue to delist the contracts. More information, including the delisting period, will be announced accordingly.
Binance will launch LUNABUSD perpetual contracts with 0.00001 tick size at 2022-05-12 15:00 (UTC). LUNA futures contracts with BUSD margins use BUSD as collateral. Users can choose between 1-8x leverage.
Multiple Presence Mode Remains Available
Please note that the multi-asset mode is available for LUNA futures contracts. Users can use BUSD and/or USDT interchangeably as collateral for LUNA futures contracts with BUSD margin and USDT margin.”
No announcement regarding spot transactions has been made yet.
*Not Investment Advice.