Crypto.com, a leading cryptocurrency exchange, has announced the postponement of Terra Luna Classic (LUNC) delisting from its initially scheduled date in February to April. This decision, revealed through emails to the concerned community members, has provided LUNC holders with a crucial extension, allowing them additional time to deliberate on their investment strategies.
The initial announcement to delist LUNC by Crypto.com, which was scheduled for February 15, had sent ripples across the cryptocurrency community, with CoinGape confirming the move. However, the recent development of delaying the delisting until April has been met with positive feedback from the Terra Luna Classic community, who view this as a considerate gesture by the exchange, taking into account the potential impact on its users.
Uncertainty Looms as Delisting Decision Delayed
Despite the reprieve, Crypto.com has yet to disclose the specific reasons behind its decision to eventually remove LUNC from its trading platform. This ambiguity has sparked widespread speculation and discussion among community members, especially considering the noticeable decline in LUNC’s trading volume on Crypto.com following the initial delisting news. Consequently, some investors have begun transferring their assets to other exchanges, seeking more favorable conditions.
Community at a Crossroads
The Terra Luna Classic community is currently facing internal discord, particularly regarding a contentious pay-per-job proposal. This comes in the wake of validators rejecting the L1TF core security upgrade package proposal, highlighting the urgent need for resolution to these disagreements to ensure the ecosystem’s continued growth and stability.
Market Reaction to Ongoing Uncertainties
Amidst these uncertainties, both LUNC and its ecosystem token USTC have experienced a downturn in prices. LUNC has seen a 1% decrease over the last 24 hours and a significant 32% drop over the past month, currently trading at $0.00009484. Similarly, USTC has faced a 2% decline in the same period, with its price at $0.02406. The decrease in trading volumes and increasing interest in shorting LUNC indicate a cautious or bearish outlook among traders.
As the April deadline for the potential delisting approaches, the Terra Luna Classic community and Crypto.com users are keenly awaiting further developments. How the community addresses its internal challenges and how Crypto.com navigates its next steps will be pivotal in determining the future trajectory of LUNC and USTC within the volatile cryptocurrency market.