Due to the policy of the Terra team by increasing the supply of LUNA to stabilize the price of the stablecoin UST, approximately 7 trillion LUNA was reached and the price of the coin was almost zero.
Terra is the UST stablecoin which should be equal to 1 dollar. your 1 dollar He acted as he fell. last month to stabilize the price of UST 120 dollarsbegan increasing the supply of LUNA, which is traded from Because of this policy, the price of LUNA has increased rapidly. 0.01 declined to $.
The Terra team then stopped the network for precaution and corrective action and restarted it by issuing a new update. However, the LUNA supply has recently been 7 trillion With the increase in the number of units, the price approached almost zero. The project, which is in the top 10 in the market ranking with the price decrease, became involved in thousands of projects.
Delist came from Binance
After this activity in the price of LUNA, first Binance on futures He had delisted LUNA. After the price approaches zero, on spot LUNA trading also “LUNA/BTC, LUNA/BIDR, LUNA/AUD, LUNA/BNB, LUNA/ETH, LUNA/USDT, LUNA/GBP, LUNA/BRL, LUNA/TRY and LUNA/EUR” trading pairs removed from the stock market.
UST, which should have been $1 with the LUNA reset, is trading at $0.10 at the time of writing. Also, bitcoin price is trading above $30,000.