Why are Binance Terra Luna balances missing? When will Lunc be added?

Written By Eleman

The lack of Binance Terra Luna balances has alarmed some investors. After Binance announced that it has started its initiatives for Lunc, Luna does not appear in any of the wallets.

Those who entered their Binance Global accounts could not see Lunas in their wallets. So why was Luna deleted, when will Lunc come and how many will there be?

Those using Binance Global accounts noticed that Luna balances were not seen on the exchange. An explanation has been given about when the Terra Lunas, which do not appear in the spot wallets, will come and when they will be loaded into the accounts.

Why were Terra Lunas deleted from the account?

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Binance and Terra Luna will make an agreement to distribute the upcoming Luna 2.0. Old Lunas have been removed from accounts. The same number and number of uploads will be made to new Lunc accounts, which are expected to be opened on May 30 at the latest. If Binance deletes it from the account earlier, it is expected that the Lunc balances will be loaded back into the accounts in a short time.

How much will the Luna 2.0 cost?

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The new Luna, which started at $ 20, fell again to the level of $ 4, experiencing a decrease in most stock markets. Binance, on the other hand, is not yet listed.

With the effect of Bitcoins, which were sold in the market in a short time, the leading crypto currency fell to 26 thousand 700 dollars on May 12 and saw the bottom of 1.5 years. After the UST lost its stability, the Luna Foundation transferred the Bitcoins it held as a reserve to the US Gemini and Binance exchanges on May 9-10.

Terra LUNA was the most affected by the US inflation data. UST crashed for the second time in the last 2 days due to the liquidity problem, the UST stable coin, which should be stable at 1 dollar, while LUNA lost more than 90 percent in value in this process.

Binance Will Support Terra Network Airdrop

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Binance will rename the existing Terra network to the Terra Classic network and support the Terra network airdrop. The LUNA and UST tokens on the Terra Classic network are hereinafter referred to as LUNA (legacy) and UST (legacy). Other details can be found in the timeline below:

  • LUNA (legacy) and UST (legacy) deposits and withdrawals will be suspended at 5 PM ET on 26/05/2022.
  • At 6:00 pm on 26/05/2022, spot trading pairs LUNA/BUSD and UST/BUSD will be suspended and all pending spot orders will be cancelled.

Reopening LUNC and USTC Trading:

  • Spot trading pairs for LUNC/BUSD and USTC/BUSD will open on 30/05/2022 at 12:30 (CET).
  • LUNC and USTC deposits and withdrawals will reopen on 30/05/2022 at 12:45 PM.

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