Zhao said Binance's aim is to be neutral and that it typically refrains from commenting on other projects but that he was breaking that rule in the Terra situation. Due to these significant risks, we suspended trading,' Zhao wrote. 'Some of our users, unaware of the large amounts of newly minted LUNA outside the exchange, started to buy LUNA again, without understanding that as soon as deposits are allowed, the price will likely crash further. Meanwhile, the network's suspension resulted in no deposits or withdrawals possible to or from any exchange, he added in a thread of posts on Twitter.
It has a circulating supply of 5,806,793,937,604 LUNC coins. The current CoinMarketCap ranking is 91, with a live market cap of 344,199,093 USD. Terra Classic is down 3.36 in the last 24 hours. We update our LUNC to USD price in real-time. In suspending trading, Binance CEO and founder Changpeng Zhao cited an 'exponential amount' of new luna coins that were recently minted because of flaws in the design of the Terra protocol. The live Terra Classic price today is 0.000059 USD with a 24-hour trading volume of 15,207,583 USD. Terra was working on a network restoration plan, it said Thursday on Twitter. The network was turned off in agreement with validators who oversee transactions. Administrators at Terraform Labs, the company behind the TerraUSD-luna crypto project, paused the network overnight and later resumed it, but luna still tumbled to a worthless value.
