BitMEX Launches Terra Classic (LUNC) Perpetual Trading As Market Cap Surpasses $1.4 Bln
Crypto exchange BitMEX, co-founded by billionaire Arthur Hayes, has announced a plan to list Terra Classic (LUNC) perpetual contract. The move came amid a massive three-digit rally in Terra Classic tokens LUNC and USTC. The community prepares for a revival of Terra Luna Classic (LUNC) and repeg USTC stablecoin to $1.
BitMEX even launched a TerraClassicUSD (USTC) perpetual contract, offering up to 10x leverage. Traders didn’t immediately respond to the announcement. The move came after Binance announced new USTC and LUNC trading pairs and listed USTC perpetual contract.
BitMEX Listing Terra Luna Classic (LUNC) Perpetual Contract
According to an official announcement on December 5, BitMEX revealed that it is listing LUNC perpetual contract amid the massive rally. It offers up to 10x leverage on LUNCUSDT perpetual.
Users can start trading LUNCUSDT perpetual contract from December 6 at 04:00 UTC. The minimum trade amount is 1000 LUNC and base initial margin of 10.00%.
Last week, BitMEX also announced USTC perpetual contract listing after carefully watching the USTC rally for weeks. The USTCUSDT perpetual also had a leverage of up to 10%.
The crypto community is carefully watching LUNC and USTC rallies as it continue to rise higher breaking resistance levels.
Also Read: Terra Luna Classic Proposal Passes Despite Concerns, LUNC Falls 10% USTC 15%
LUNC and USTC Rally
Terra Luna Classic extended its rally to really 300% in a month and 150% in a week. The rally was triggered by TerraClassicUSD (USTC), which jumped 400% in a month. The Mint Cash news and Binance launching USTC perpetual contract, and new USTC trading pairs triggered the recent surge in prices.
Binance burning 4 billion LUNC and announcing a new LUNC pair with the Turkish lira (TRY) amid market-wide recovery became the reasons for a rally this week.
LUNC price fell more than 10% in the last 24 hours after falling from a high of $0.000275. The price rallied 150% rally in a week, with the price currently trading at $0.000238. Furthermore, the trading volume has decreased by 20% in the last 24 hours, indicating a decline in interest among traders.
Meanwhile, USTC price trades at $0.055, down 6% after a massive rally this week. The 24-hour low and high are $0.0529 and $0.0647, respectively. Moreover, the trading volume fell 33% in the past 24 hours.
The overall sentiment remains bullish despite some profit bookings in LUNC and USTC. The prices are likely to continue higher as the market rebounds.
Also Read: Binance Launches Zero-Fee Trading For XRP, ETH, SOL, DOGE, LINK, BNB
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