Breaking: FTX To Suspend LUNC, USTC Deposits And Withdrawals, Delist ANC
Crypto derivatives exchange FTX on Monday said it will suspend deposits and withdrawals of Terra Classic (LUNC) and TerraClassicUSD (USTC) from September 12 at 14:00 UTC. In addition, FTX will end support for Anchor Protocol, delist ANC, and suspend ANC spot and futures on September 12.
FTX Ends Anchor Support, Suspends LUNC and USTC Deposits and Withdrawals
Crypto exchange FTX, in an official announcement on September 5, revealed that deposits and withdrawals of Terra Classic (LUNC) and TerraClassicUSD (USTC) will be suspended on September 12 at 2 PM UTC.
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 recommends completing deposits and withdrawals before the deadline. Deposits and withdrawals made after the deadline will not credit to wallets.
In addition, FTX will delist Anchor Protocol (ANC) token. It will also end support for ANC spot and futures markets on September 12 at 2 PM UTC.
FTX will cancel all ANC/USD and ANC-PERP orders, cease trading on ANC/USD and ANC-PERP markets, and suspend ANC deposits and withdrawals. Moreover, ANC-PERP will cash-expire to a 1-hour TWAP of its corresponding index prices.
However, the “convert function” for ANC will be available on the crypto exchange.
Last week, FTX supported the Terra Classic (LUNC) network upgrade on August 26. It reopened withdrawals for all Terra Classic tokens after a successful upgrade.
Binance earlier announced the suspension of Terra Classic and TerraClassicUSD due to the closure of the Shuttle Bridge. This ended deposits and withdrawals of Terra Classic (LUNC) via the Ethereum network. However, users can still use the Terra Classic network to deposit and withdraw their LUNC and USTC tokens.
Terra Tokens Gets Community Support
Terra community continues to support Terra Classic (LUNC) and TerraClassicUSD despite the Terra crisis. In fact, all Terra tokens LUNA, LUNC, and USTC saw massive daily trading volume.
The community aims to recover prices through burning, staking, building projects, ecosystem education, and governance. The Terra Classic price is trading at $0.0002781, up nearly 13% in the last 24 hours.
Meanwhile, USTC and LUNA are trading strongly, up over 8% and 2%, respectively.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- What’s Behind Ethereum’s Drop: Macro, TVL, DeFi & Liquidity Zones
- Bitcoin ETFs Record Biggest Daily Outflow Since August as OG Whales Cash Out
- CZ Trump Pardon: Binance Founder Denies Any Trump Family Ties
- Odds for December Rate Cut Soar to 71% After Michigan Consumer Sentiment Hits 2nd-Lowest in History
- Breaking: James Chanos Exits MSTR Short After Premium Drop
- After a 17% Jump, Is Litecoin Price Rebound Sustainable Amid Dominant Sell Activity?
- Cardano Price Soars 10% Amid Retail Accumulation: Will Bulls Target $1?
- Bitcoin Price: How Low BTC Could Fall by the End of 2025?
- Post-Giveaway Supply Shock: Impact on FUNToken’s Liquidity and Market Depth
- Aster Price Poised to Hit $2 as Coinbase Adds ASTER to Listing Roadmap
- Filecoin Price Rockets 51% as Grayscale’s FIL Holdings Hit Record High — What’s Next for FIL?
