Binance resumes spot trading for LUNA and UST

Binance, the world’s largest cryptocurrency exchange by trading volume, has announced a resumption to spot trading for Terra (LUNA) and TerraUSD (UST) pairs.

The crypto exchange suspended trading in the LUNA/BUSD and UST /BUSD  in the wake of Terra’s meltdown. But in a sign that the market could yet see a rebound in the UST stablecoin, and currently ‘buried’ LUNA, Binance is allowing trading. 

The exchange wrote in a notice to its users that the decision follows the Terra blockchain validators’ move to “resume block production, disable on-chain swaps, and close IBC channels.”

“Binance will resume spot trading for the following trading pairs at 2:00 pm UTC, 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 can also deposit and withdraw the cryptocurrencies, although customers are being asked to undertake due diligence before they proceed.

“Deposits and withdrawals for $LUNA and $UST will also open at the same time. Please ensure that you have done your own research into the fundamentals of $LUNA and $UST before trading,” Binance noted.

Binance has however removed the two tokens from its Convert and Earn platforms.

UST remains de-pegged from the dollar since losing parity on 9 May and is currently 79% off.