The Terra UST token faced the axe from popular cryptocurrency exchanges like Binance, BitMEX, OKX and FTX in the last few days. In a latest move, another top exchange Gemini joins the list of exchanges that announced or already have Terra delisted.
Unprecedented meltdown witnessed in the Terra network on May 12 resulted in a widespread cryptocurrency market meltdown. After Terra founder Do Kwon announced a new revival plan for the network, a voting is ongoing over the newly updated proposal.
As of writing, 230.90 million votes have been registers out of the 365.07 million total voting capacity. Of those, around 142.41 million (62%) voted ‘Yes’ for creating a new Terra chain without the algorithmic stablecoin.
The plan involves renaming the old chain to Luna Classic (LUNC) and new chain as Terra (token Luna – LUNA). The company announced it will complete the essential app developer registration and launch the network on May 27.
Gemini For Terra Delisting
The Gemini exchange announced it will suspend trading for $UST and $MIR on May 27.
Trending Stories
“Custody and withdrawals to Ethereum compatible wallets will still be supported after trading is suspended. Both $UST and $MIR will remain available to trade in limit-only mode on web via ActiveTrader for all Gemini customers until this time.”
Close Monitoring of LUNA
ActiveTrader is Gemini’s trading interface that offers advanced charting, additional trading pairs, order types, and deeper order book visibility. “We are closely monitoring the current status of $LUNA and it remains available in limit-only mode,” it informed.
As of writing, $UST is trading at $0.000112, down 20.13% in the last 24 hours, according to CoinMarketCap. It’s current market cap is $731 million.
Meanwhile, South Korea’s tax authorities have charged Terraform Labs and Kwon for dodging Income and Corporate tax. The country’s tax authorities are charging the company with over $78.4 million in unpaid taxes.
- Are Hedge Funds Planning USDT Dump? Tether CTO Responds To Rumors
- Here’s Why Apecoin (APE) Price Is Skyrocketing Today
- Crypto Prices Falling Despite “Buy The Dip” Sentiment, Data Reveals Why
- Institutional Traders Dumped Bitcoin At A Record Pace Last Week
- Terra USTC Jumps 300%; Lands Back In Top 100 Cryptos
- Ripple’s EX CTO Dumps 40 million XRP tokens In Last 10 Days
- Dogecoin Soars 35%, Here’s Why Breaking This Level Is Crucial
- Crypto Lender Nexo Denies Fraud, Issues Cease And Desist Notice
- Ethereum (ETH) Price Rise and Stability Pulls Broader Crypto Market to $1 Trillion
- Scoop: This Hedge Fund Is Trying To Bailout BlockFi To Counter FTX
- Tezos Price Analysis: XTZ Rebounds from Yearly Support; is it a good buy?
- Tron Price Analysis: Triangle Pattern Governs the TRX Price Action; Should Coin Holders Worry?
- Dogecoin Price Analysis: DOGE Winning Streak Aims to Reclaim $0.077
- Apecoin Price Analysis: Reversal Pattern Sets 21% Rise in APE Price
- Ethereum Price Analysis: Will ETH Relief Rally Revert From $1300?
- Bitcoin Price Analysis- Higher Price Rejection Hints BTC to Retest $20000
- SHIB Price Analysis: Overhead Supply Pressure Hints SHIB to Retest $0.00001
- Avalanche Price Analysis: Will The AVAX Breakout Rally Reach $30?
- Sandbox Price Analysis: U-shaped Recovery could Lead SAND above $1.5
- NEAR Price Analysis: Reversal Within Channel could Sink NEAR Below $3
