Binance, the world’s largest cryptocurrency exchange by trading volume, announced it will resume spot trading for the Terra (LUNA) and TerraUSD (UST) pairs.
The exchange had previously suspended trading for LUNA/BUSD and UST/BUSD following the collapse of Terra. However, in response to developments indicating market stabilization around UST and renewed activity for LUNA, Binance has reopened those trading pairs.
In a notice to users, Binance said the decision followed actions taken by Terra blockchain validators “to continue block production, disable exchanges on the network, and close the IBC channel.”
“Binance will resume spot trading for the following trading pairs at 14:00 UTC on May 13, 2022: LUNA/BUSD and UST/BUSD.”
Binance will resume spot trading for the following trading pairs at 2:00pm UTC, May 13 2022.
🔸 LUNA/BUSD
🔸 UST/BUSDhttps://t.co/T4oD0dQdHT— Binance (@binance) May 13, 2022
Users are also able to deposit and withdraw the cryptocurrencies, although customers are urged to check the current status carefully before proceeding.
“Deposits and withdrawals for $LUNA and $UST will also be opened simultaneously. Please ensure you have done your due diligence on $LUNA and $UST before trading,” Binance said.
Binance has removed both tokens from its Convert and Earn services.
UST has not regained its peg to the U.S. dollar since it lost parity on May 9 and remains deeply discounted, trading down approximately 79% from the dollar peg.