Binance Resumes Spot Trading for LUNA and UST

Binance, the largest cryptocurrency exchange in the world by trading volume, has announced the resumption of spot trading for the Terra (LUNA) and TerraUSD (UST) pairs.

The Crypto Exchange continued trading with LUNA/BUSD and UST/BUSD in the wake of the crash of Terra. But as a sign that the market could still experience a recovery of the UST stablecoin and the currently “buried” LUNA, Binance allows trading.

The exchange wrote in a message to its users that the decision follows the step taken by the Terra blockchain validators,”resume block production, disable on-chain swaps and close IBC channels“.

„Binance will resume spot trading for the following trading pairs on May 13, 2022 at 14:00 UTC. LUNA/BUSD and UST/BUSD.“

Binance will resume spot trading for the following trading pairs at 2:00pm UTC, May 13 2022.

🔸 LUNA/BUSD
🔸 VAT/VAThttps://t.co/T4oD0dQdHT

– Binance (@binance) May 13, 2022

Users can also deposit and withdraw the cryptocurrencies, although customers are asked to do the due diligence before proceeding.

„Deposits and withdrawals for $LUNA and $UST are also opened at the same time. Please make sure you have done your own research on the basics of $LUNA and $UST before trading“, Binance noted.

However, Binance has released the two tokens from its Convert-and-Earn-Platforms removed.

UST has remained decoupled from the dollar since the loss of parity on May 9 and is currently at a price loss of 79%.