LUNA, UST Still Available on FTX and Other Exchanges Despite Terra Blockchain Halt

Transactions conducted during the blockchain halt are not considered to be final because they can’t be settled.

AccessTimeIconMay 13, 2022 at 4:19 a.m. UTC
Updated May 13, 2022 at 7:18 p.m. UTC

Despite a second halt of the Terra blockchain by its validators, the protocol’s LUNA token and UST algorithmic stablecoin remain available to trade on FTX and other minor exchanges as of late morning Asia time.

  • FTX and China-focused exchange Gate.io continue to trade the luna token.
  • Between its USD and USDT trading pairs, FTX has nearly $445 million in volume during the last 24 hours, according to CoinGecko.
  • Meanwhile, Gate.io reports $84 million in volume during the last 24-hours for luna.
  • Thai-based exchange Bitazza was trading both luna and UST up until early Friday morning Asia time, then pulled the plug on both.
  • UST continues to be traded at FTX and KuCoin, with $678 million in volume during the last 24 hours at FTX and $248 million at KuCoin.
  • Binance and many other major exchanges halted trading of LUNA and UST as both neared $0 and the Terra blockchain was shut down the first time.
  • It’s unclear if the Terra blockchain will ever be restarted, meaning that the trades may never be settled and traders unable to cash out.
  • UPDATE (May 13, 17:06 UTC ): According to a tweet from Binance CEO Changpeng Zhao, deposits, withdrawals and trading of the tokens has resumed on that company's platform.


DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC