Terra Luna Classic was delist by Crypto exchange Gemini , according to emails from sources familiar with the matter. Along with Terra, the exchange also plans to remove Synthetix (SNX), Qredo (QRDO), and Zebec (ZBC) from its platform. The decision to delist Terra Luna follows ongoing struggles after its dramatic crash, which has led to difficulties in regaining market trust. Despite the community’s efforts to revitalize Terra , including Terra Classic, the token has not recovered its former status. The delisting of Terra Luna on a major platform like Gemini could negatively impact liquidity and trading volume. Investors holding Terra Luna tokens are advised to withdraw their assets before the delisting takes effect, while the broader market watches for further developments surrounding Terra Luna’s future.
Gemini Announces Terra Luna Classic Delisting
Crypto exchange Gemini has announced its decision to delist Luna Classic (LUNC), according to an email shared with users. This decision follows a routine review of the digital assets available on the platform. Along with Terra Luna, the exchange will also remove Synthetix (SNX), Qredo (QRDO), and Zebec (ZBC). Trading for these cryptocurrencies will be disabled after September 20, and users are advised to withdraw their holdings to external wallets before the deadline.
Gemini stated that it regularly reviews the markets for the assets it supports, and as part of its latest evaluation, it has determined that removing Terra Luna and the other assets is the best course of action for the platform.
The crypto community is actively debating the delisting of Terra Luna Classic (LUNC) on Gemini, with several users suggesting that the exchange mistakenly refers to wLUNA as LUNC. Gemini has yet to provide a clear explanation, but the confusion has sparked widespread discussions. Some users are frustrated, as the distinction between wLUNA and Terra Luna Classic is critical, particularly for those holding either asset.
Recently, Terraform Labs reopened the Shuttle bridge, allowing users to redeem wrapped assets, including wLUNA, on Terra Classic. This redemption process gives users a 30-day window to withdraw their assets from bridge wallets, offering a limited opportunity to move their holdings before the deadline. The reopening of the Shuttle bridge has added another layer of complexity to the ongoing situation, leading to more questions about how exchanges like Gemini handle Terra Luna-related assets.
The confusion over the labeling of wLUNA as Terra Luna has raised concerns about how digital assets are categorized and listed on major exchanges. Many in the crypto community are calling for greater transparency and clearer communication from platforms like Gemini, particularly when significant changes, such as delisting, are involved. As the deadline for redeeming wrapped assets on Terra Classic approaches, users are paying close attention to how these assets are being managed.
Amid this backdrop, the broader Terra Luna ecosystem continues to evolve, with developers and users navigating the challenges of maintaining and utilizing these assets. For now, the debate around Gemini’s handling of wLUNA and Terra Luna Classic remains unresolved, but it has highlighted the ongoing need for better clarity and organization within the crypto space, especially as the Terra Luna network undergoes further changes. With both wLUNA and LUNC still in the spotlight, this situation underscores the importance of precise asset management in the ever-changing cryptocurrency market.
LUNC Price To Drop?
LUNC price remained range-bound over the past week, with a 2% rise in the last 24 hours. The 24-hour low was $0.00007708, and the high reached $0.00008072. Trading volume surged by 45% in the past day, reflecting a broader recovery in the crypto market.
While the potential delisting of Terra Luna Classic may negatively impact market sentiment, ongoing recovery and development efforts could offset this downside. Investors continue to closely watch these developments as they navigate the evolving landscape.
At the same time, USTC has been gaining momentum due to the USTC repeg narrative. The price is currently at $0.0163, facing resistance around $0.0165. USTC futures open interest increased by 1% over the last 24 hours, with platforms like Binance, BingX, and HTX witnessing strong buying activity. The combination of market recovery and focused attention on USTC’s future has generated increased interest and activity in both assets.
