Crypto exchange Gemini has announced plans to delist Terra Luna Classic (LUNC), along with Synthetix (SNX), Qredo (QRDO), and Zebec (ZBC). The move comes as part of a broader review of assets listed on the platform.
The delisting of LUNC is a significant development for the beleaguered cryptocurrency, which has struggled to recover since the Terra ecosystem collapse. While the broader crypto market has shown signs of recovery, LUNC has faced ongoing challenges, including concerns about its long-term viability.
Gemini’s decision to remove LUNC from its platform is likely to impact trading volume and liquidity for the token. However, the ongoing efforts of the Terra Luna Classic community to restore the USTC peg may provide some support for LUNC’s price.
Interestingly, USTC, the TerraClassicUSD stablecoin, has recently seen a price increase, trading at $0.0163 with resistance at $0.0165. This upward movement, coupled with a 1% increase in USTC futures open interest, suggests growing interest in the project.
Also Read: Terra Luna Classic (LUNC) Price Surge 1.56% Amid USTC Repeg Efforts, Market Cap Reaches $426M
Despite the delisting news, the future of LUNC remains uncertain. The ability of the community to successfully restore the USTC peg will be crucial for the token’s long-term prospects.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
About The Author
