Wednesday, March 22, 2023
MetaWeb3
Subscribe
  • Home
  • About Us
  • Listings
    • ICO List
    • IDO List
  • Web3 Events
    • Events List
    • Events by Month
    • Web3 Calendar
  • News
  • Blog
    • Blog
    • Press Release
  • Contact
    Home / News / Binance Futures delists coin-margined LUNA perpetual contracts
BTC/USD
  • BTC/USD
  • XRP/USD
  • BCH/USD
  • EOS/USD
  • LTC/USD
  • TRX/USD
  • ADA/USD
  • XLM/USD
  • IOT/USD
  • ABC/USD
  • NEO/USD
  • XMR/USD
  • DASH/USD
  • XEM/USD
  • QTUM/USD
  • BCN/USD
  • ICX/USD
  • ZEC/USD
  • LSK/USD
  • IOST/USD
Low
High
Marketcap
News
May 12, 2022 by admin
Share this:
  • Facebook
  • Twitter
  • Google Plus
  • Pinterest
  • Email to a Friend

Binance Futures delists coin-margined LUNA perpetual contracts

Binance Futures

Binance continues to deactivate connected trading services as the Terra network’s coins Luna (LUNA) and TerraUSD (UST) collapse.

Binance Futures, the firm’s derivatives arm, has delisted coin-margined LUNA perpetual contracts, the company revealed on Thursday.

“To avoid automatic settlement, users are encouraged to cancel any open positions prior to the delisting time,” the site says in a statement.

Binance Futures has also begun to settle contracts automatically, lowering leverage tiers and updating margin tiers for coin-margined LUNA perpetual contracts.

As a result, the 8x leverage tier has replaced the 21-25x leverage tier as the largest leverage tier accessible on Binance for LUNA perpetual contracts. According to the new statistics, 11-20x leverage is reduced to 7x, and 6-10x leverage is replaced by a 6x leverage tier.

Existing roles that were created before to the change would not be affected, according to the notice.

Binance also stated that it “reserves the right to adjust the maximum leverage and margin tiers for USDT-margined LUNA perpetual contracts at any time without warning.”

The new Binance Futures trading updates come after Binance stopped LUNA and UST withdrawals on Tuesday due to a huge selloff of tokens on the Terra network, with the UST stablecoin losing its dollar peg and plummeting to $0.67.

The UST stablecoin, which was supposed to maintain its 1:1 peg with the US dollar, fell as low as $0.30 on May 11, while its sister token LUNA lost more than 99 percent of its value at the time of writing. The events sent shockwaves through the cryptocurrency industry, with the overall market capitalization plunging by nearly $600 billion.

cryptocurrencynews
Previous Post
PancakeSwap governance proposal set to cap CAKE supply at 750M
Next Post
Yieldster: Solving blockchain tech barriers with intuitive user interface

Related Posts

Top Crypto Exchanges
News
Top 10 Crypto Exchanges and Platforms for 2023
February 28, 2023 by admin
Tokenizing the Titanic
News
Tokenizing the Titanic: New Partnership Brings Real Artifacts from Wreckage to NFT Market
February 24, 2023 by admin
Hong Kong Crypto Trading
News
Crypto Hub in the Making: Hong Kong Pushes Forward with Plans for Retail Crypto Trading
February 23, 2023 by admin
ICO Calendar
May 16, 2018
CoinLion

Exchange & portfolio management

View All ICOs
Advertisement
Advertisement
Most Read
  • How To Bring Virtual Fashion Into The Mainstream
  • Poppy Playtime NFT and the controversy latest updates
  • Metaverse Summit: The first women-led Web3 conference to take place in Paris
  • What is Cryptocurrency, and how does it work?
  • How To Build A Web3 Community
Latest
Top Crypto Exchanges
News
Top 10 Crypto Exchanges and Platforms for 2023
28 February, 2023
Tokenizing the Titanic
News
Tokenizing the Titanic: New Partnership Brings Real Artifacts from Wreckage to NFT Market
24 February, 2023
Hong Kong Crypto Trading
News
Crypto Hub in the Making: Hong Kong Pushes Forward with Plans for Retail Crypto Trading
23 February, 2023
Categories
  • Blockchain
  • Blockchain Game
  • Crypto
  • dApp
  • DeFi
  • Metaverse
  • News
  • NFT
  • PR
Calendar
March 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Feb    
MetaWeb3
  • Write for Us
  • Terms & Conditions
  • Privacy Policy
  • Contact
  • Web3 Calendar
About

MetaWeb3.tech is an online media site that focuses on Fintech, digital assets, blockchain technology, Decentralized Finance (Defi), Decentralized Apps (DApps), Metaverse, Crypto Games and other related technologies, covering news, opinions, trends, and informative articles.

Contact Us

Categories
  • Blockchain
  • Blockchain Game
  • Crypto
  • dApp
  • DeFi
  • Metaverse
  • News
  • NFT
  • PR
Newsletter Subscription
Connect With Us
Copyright © 2019 MetaWeb3 Tech. All Rights Reserved.